Tuesday, SandRidge Energy Inc. (SD) said it intends to commence a private offering to eligible purchasers of $400 million of Senior Notes due 2020. Net proceeds from this offering will be used to fund a portion of the purchase price of the company's previously announced acquisition of oil and gas properties in the Permian Basin from Forest Oil Corp. If such acquisition is not consummated, the net proceeds are expected to be used for general corporate purposes, including exploration, development and other capital expenditures.
SandRidge Energy Inc., together with its subsidiaries, operates as a natural gas and oil company in the United States. The company engages in the exploration, development, and production of oil and gas properties.
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