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Sandridge Acquires Arena Resources, Inc.

Sandridge Energy, Inc. Arena Resources, Inc.
AnnouncedApr 4, 2010
Announced Date
April 04,2010
Close Date
July 16,2010




Snapshot
Location
Region
Mid-Continent

Country
United States

State
Oklahoma


Transaction Details:  Subscribe to see

SandRidge Energy Inc. will acquire Arena Resources Inc. for $1.55 billion in cash and stock as it turns its focus to oil rather than natural gas production.

SandRidge will pay $2.50 in cash and 4.78 SandRidge shares for each Arena Resource share, a 17 percent premium to Arena's April 1 close of $34.26.

The purchase is Sand-Ridge's second in West Texas since November, when it bought properties from Forest Oil Corp. for about $800 million. By buying Arena Resources, SandRidge becomes one of the largest producers of West Texas conventional oil and gas. The company will primarily drill shallow…


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United States Deal Activity In Last 12 Months


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