One-Page Deal Sheet
SandRidge Exits the Central Basin Platform; Sells Assets for $14.5MM
Not Disclosed Sandridge Energy, Inc.
Announced Date
November 05,2018
Close Date
November 01,2018
Transaction Type
Property
Enterprise Value (EV)($MM)
15
Asset/Basin:
{"Permian Basin","Central Basin Platform"}
Location
Calculated Metrics( EV/Category)
Region
Permian - Central Basin
Country
United States
State
Texas
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
SandRidge Energy reported that it has sold substantially all of its oil and gas properties, rights and related assets in the Central Basin Platform (CBP) region of the Permian Basin, together with 13,125,000 Common Units of the SandRidge Permian Trust, to an unaffiliated party for net proceeds of $14.5 million.
The buyer was not disclosed.
The property includes 1,500 wells which are producing approximately 1,500 BOEPD.
The subject oil and gas properties largely consist of shallow, low net revenue interest wells burdened by a substantial overriding royalty interest conveyed to the Trust. Lease…
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