SandRidge Energy considering sale of Permian basin assets

SandRidge Energy Inc., Oklahoma City, is contemplating the sale of its Permian basin assets although any sale will exclude assets associated with SandRidge Permian Trust.

The trust said on Nov. 13 that SandRidge Energy intends to retain all operations within the trust’s area of mutual interest.

A potential sale would involve assets that produce 24,500 boe/d of which 67% is oil, 15% natural gas liquids, and 18% natural gas.

Proceeds would be used to fund activities in the Mississippian play and to repay debt.

Tom Ward, SandRidge's chairman and chief executive officer, said Permian basin acquisitions and development during the past 4 years “have been integral to our conversion from a natural gas company to an oil rich enterprise.”

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