One-Page Deal Sheet
SandRidge Lets Go of GoM, Gulf Coast Business to Focus on MidContinent Ops
Fieldwood Energy Llc Sandridge Energy, Inc.
Announced Date
January 07,2014
Effective Date
December 01,2013
Close Date
February 25,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
1120
Asset/Basin:
{"Gulf of Mexico Shelf","Deepwater Gulf of Mexico","Onshore Gulf Coast"}
TargetZones:
{"Deep Miocene"}
% Oil:
Proved Reserves
Location
Region
Gulf of Mexico
Country
United States
State
Texas
Play
Production & Reserves Reserves
Transaction Details: Require Private Equity Subscription
Closing Announcement - February 25, 2014
Fieldwood Energy LLC has reported the closing of its acquisition of SandRidge Energy, Inc.'s Gulf of Mexico and Gulf Coast business unit for a net cash payment of approximately $705 million, which reflects adjustments to the purchase price for cash flow since the effective date and net working capital.
Production from the acquired assets currently exceeds 26,000 boepd. The acquisition further enhances Fieldwood's position as the owner of the largest asset base on the Gulf of Mexico Shelf while also expanding the Company's portfolio to include an…
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