One-Page Deal Sheet
SandRidge Inks $2.6B Permian Basin Divestiture Deal
Sheridan Holding Company II LLC Sandridge Energy, Inc.
Announced Date
December 19,2012
Effective Date
January 01,2013
Close Date
February 26,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
2600
Asset/Basin:
{"Permian Basin"}
Net Acres
% Oil:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
SandRidge Energy Inc. has signed a definitive agreement to sell its Permian Basin properties to Sheridan Production Partners II, a privately held Houston-based oil and gas company, for $2.6 billion in cash.
The assets contain 209,000 net acres and 141 MMBOE of 1P Reserves. The assets were producing 24,500 (67% oil).
Tom Ward, SandRidge's Chairman and CEO, commented, "This is a great outcome for our shareholders. The sale of the Permian assets at this time has allowed us to capitalize on current strong valuations for mature, conventional Permian assets and generate a very strong return on…
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