One-Page Deal Sheet
SandRidge to Sell North Park Niobrara Asset in $47MM Deal
Gondola Resources LLC Sandridge Energy, Inc.
Announced Date
December 14,2020
Close Date
February 05,2021
Transaction Type
Property
Enterprise Value (EV)($MM)
47
Asset/Basin:
["North Park Basin"]
TargetZones:
["Niobrara"]
Net Acres
% Oil:
Location
Calculated Metrics( EV/Category)
Region
Rockies
Country
United States
State
Colorado
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
SandRidge Energy, Inc. has signed a deal to sell its North Park Basin assets (NPB) to Gondola Resources LLC for $47 million in cash.
This deal closed on February 8, 2021.
Asset Details Acreage: ~93,000 net acres (as of 2020) Production (as of 3Q20): 2.2 MBoepd (100% oil)NPB accounted for less than 10% of the Company's production during the quarter ended September 30, 2020 and less than 10% of the Company's Proved Developed Reserves as of December 31, 2019.
Carl Giesler, SandRidge's President and CEO, commented, "We believe this transaction significantly enhances shareholder value. It…
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