SandRidge Energy, Inc. (SD) announced the closing its $800 million purchase of properties in the Permian Basin from Forest Oil Corp. (FST). The purchase price is subject to customary post-closing adjustments.
The company also announced the closing of its previously announced private placement of 2.0 million shares of 6% convertible perpetual preferred stock to Fairfax Financial Holdings (FFH.TO), for net proceeds of $200 million.
Additionally, the company noted the underwriters of the company's recent common stock offering had exercised the over-allotment option of 3.6 million shares, bringing the total number of shares of common stock issued by the company in the offering to 25.6 million shares and resulting in additional net proceeds of about $30.6 million. The sale of the additional shares is expected to close Wednesday, December 23.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.