One-Page Deal Sheet
SandRidge sells Wolfberry Assets for $155 Million
Not Disclosed Sandridge Energy, Inc.
Announced Date
January 07,2011
Close Date
January 11,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
155
Location
Region
Permian
Country
United States
State
Texas
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SandRidge Energy, Inc. today announced that it has closed the sale of its Wolfberry assets in the Permian Basin to a private party for cash proceeds of $155 million. The divested properties are producing approximately 1,600 Boe/d and had estimated proved reserves of 2.37 MMBoe at December 31, 2009. The proceeds will be used to pay down outstanding borrowings under the company's credit facility.
Tom Ward, Chairman and CEO, stated, "This transaction is another step in SandRidge's stated plan to raise capital by divesting of non-core assets and monetizing our Horizontal Mississippian acreage in…
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| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Dec-20-2013 | Lynden Drops Wolfberry Wells in Deal with BreitBurn | - |
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| Dec-11-2012 | Lynden Letting Go of Permian Wolfberry Interest | - |
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