logo
Plus   Neg
Share
Email

SandRidge Energy Emphasizes Openness To Asset Sale, Proposals For Entire Company

SandRidge Energy, Inc. (SD) announced the company is undertaking a strategic review process to determine which avenues would maximize value for the company, which could include a sale of the company or significant assets of the company. The company said all potential bidders will be encouraged to participate in the process. RBC Capital Markets, LLC, which had previously been retained by the company to pursue and assist in evaluating such sale possibilities has been reaffirmed in that assignment to increase the number of potential bidders for the company, including non-U.S. entities, which had previously not been pursued. The previously announced June 25th deadline for submission of bids has been extended to provide time for additional potential bidders.

Currently, SandRidge has entered into 26 confidentiality agreements with parties that remain actively pursuing a possible transaction with the company; 10 involving the entire company, including Midstates Petroleum, and 16 focused solely on the North Park assets. The company is continuing to negotiate with 3 additional parties to execute confidentiality agreements, and all but one of those potential additional participants are focused solely on the North Park assets.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
SiriusXM launched a new subscription package exclusively for college students at a steep discount, just ahead of the fall semester. The satellite-radio giant introduced the "Student Premier" Package that provides students with all the content in SiriusXM's "Premier Streaming" package for $4 per month. This is a 69 percent discount from the regular price of $12.99 per month for Premier Streaming. Apple Inc. warned that its newly launched titanium Apple Card can be easily damaged if not stored properly. The company advised that the card must be kept away from fabrics like leather and denim as they can cause permanent discoloration. The tech giant has posted a support page that provides instructions to users on how to protect and maintain their Apple Card. Southwire Co. LLC recalled about 3000 units of Garvin pop-up electrical outlet floor box kits for concerns of fire hazard. The company said the electrical receptacles can overheat when in use. Southwire already received three reports of the floor boxes overheating. However, there have been no injuries reported so far.
Follow RTT