SandRidge Sells $155M O&G Assets

U.S. oil and natural gas exploration company, SandRidge Energy, has sold its Wolfberry assets in the Permian Basin. The Oklahoma-based company raised $155 million from its asset sale.

The buyer of the assets was not disclosed. SandRidge, which has also appointed a new CFO, plans to use the proceeds from sale to pay down outstanding borrowings under the company’s credit facility, adds Bloomberg.

Click here for the release from PR Newswire.

Click here for additional overage from Bloomberg.