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SandRidge Energy Announced LOI with Huge Gas and Oil Company

Posted by admin 1051 days ago (http://emailwire.com)

(EMAILWIRE.COM, July 02, 2010 ) Cheyenne, WY - During the trading day on Thursday SandRidge Energy, Inc. (NYSE: SD) took a hike and went up by 0.09 points or 1.54%. It opened during the trading session at 5.840 and was at a high of 6.080 and a low of 5.640. The SandRidge Energy, Inc had announced a Letter of Intent was signed with a huge autonomous gas and oil company, where SandRidge would be selling particular ("Deep Rights") for cash of $140 million in Oklahoma. The Company has no connected established reserves or present production in northwest Oklahoma's Cana Shale play from the Deep Rights. The company plans to utilise the profits from the deal to pay down present borrowings under the credit ability. The organisation anticipates that the transaction would close in 2010's third quarter. However, the Average Volume over the 13-week duration has been recorded at 11,360,200. The 52-week high was at 15.000 and the 52-week low at 5.200.

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