Alva Review-Courier -

Oklahoma energy company released from bankruptcy protection


October 6, 2016

OKLAHOMA CITY (AP, Oct. 5, 2016) — An Oklahoma City-based oil and natural gas producer has emerged from bankruptcy protection.

SandRidge Energy Inc. was released from the protection Tuesday, shedding $3.7 billion of debt in its reorganization, The Oklahoman reported ( ).

SandRidge filed for bankruptcy protection in May, citing high debt and low commodity prices. A judge approved the negotiated reorganization plan last month.

Under the plan, the $3.7 billion in debt was converted to equity in the reorganized company.

The company now has zero net debt and more than $50...

For access to this article please sign in or subscribe.


Reader Comments


Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2020