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SandRidge Looking for Deals as Midcontinent Activity Shrinks - Natural Gas Intelligence


SandRidge Looking for Deals as Midcontinent Activity Shrinks
SandRidge Energy Inc. carried out zero drilling activity on its assets in the Midcontinent and in Colorado last year, causing production to wither, according to its 2020 annual report.
The company’s output fell by nearly 25% in 2020 to 8.7 million boe comprising 24% oil, 45% natural gas and 31% natural gas liquids (NGL). In 2019, it produced 12 million boe, weighted 29% to oil, 46% to natural gas and 24% to NGLs.
The downward trend is expected to continue sharply in 2021, as SandRidge plans to cut total output further to between 4.8 million boe and 6.2 million boe, management said in issuing its 4Q2020 results. ....

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SandRidge Energy, Inc. Announces Closing of North Park Basin Asset Sale For $47 Million


Press release content from PR Newswire. The AP news staff was not involved in its creation.
SandRidge Energy, Inc. Announces Closing of North Park Basin Asset Sale For $47 Million
February 8, 2021 GMT
SandRidge Energy, Inc. logo. (PRNewsFoto/SandRidge Energy, Inc.)
OKLAHOMA CITY, Feb. 8, 2021 /PRNewswire/ SandRidge Energy, Inc. (the “Company” or “SandRidge”) (NYSE:SD) today announced the closing of the previously announced divestiture of its North Park Basin assets in Colorado for $47 million in cash, subject to customary effective-date adjustments.
About SandRidge Energy, Inc.
SandRidge Energy, Inc. (NYSE: SD) is an independent oil and gas company engaged in the development and acquisition of oil and gas properties. Its primary areas of operation are the Mid-Continent in Oklahoma and Kansas. Further information can be found at www.sandridgeenergy.com. ....

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SandRidge Energy Exits Colorado North Park Basin Asset in $47 Million Sale


Mon, 12/14/2020 - 04:00 PM
SandRidge Energy holds about 93,000 net acres targeting multiple Niobrara benches within the North Park Basin in Colorado’s Jackson County, according to the company website.
(Source: SandRidge Energy Inc.; Shutterstock.com)
SandRidge Energy Inc. agreed to the multimillion-dollar sale of its North Park Basin asset, which completes the Oklahoma City-based independent’s transformation into a pure-play Midcontinent E&P company as it looks to boost shareholder value.
According to company filings, SandRidge entered into a definitive agreement with Denver-based Gondola Resources LLC for the sale of its North Park Basin assets for $47 million in cash. The purchase and salesagreement was executed on Dec. 11 and the transaction is expected to close first-quarter 2021. ....

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