SandRidge Energy Inc., (NYSE: SD) felled by bad commodity prices and debt that finally tipped it into bankruptcy, is officially among the downturn survivors.The comeback since emerging from reorganization proceedings in October now includes a good chunk of A&D. In a February deal, SandRidge acquired northwest Stack Play acreage for $48 million cash.SandRidge purchased 13,100 net acres in Woodward County, Okla., where it will focus on the Meramec and Osage zones, the company said Feb. 22. The deal includes about 700 barrels of oil equivalent per day production.
[Read More …]
Source: Daily Dose of ShaleDirectories.com News