SandRidge Energy, Inc. Announces Sale of North Park Basin Assets For $47 Million
December 13, 2020
OKLAHOMA CITY, Dec. 14, 2020 /PRNewswire/ -- SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE:SD) today announced that it has entered into a definitive agreement for the sale of its North Park Basin assets ("NPB").
The consideration is $47 million in cash subject to customary post-closing adjustments. The effective date is October 1, 2020, and the transaction is expected to close during the first quarter of 2021.
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 o...