Sandridge Energy (NYSE: SD) recently acquired working interest in 26 wells in the Northwest Stack play producing net 500 boe/d (30% oil). The net effective purchase price for the working interest was $11.25MM, subject to minor closing adjustments, or $22,500/boe/d. This was an accretive acquisition for SandRidge, confirming its
Prefer they keep the cash and keep doing the deals
Wouldn't it have made more sense of this acquisition was done elsewhere with higher liquids %?
Good read! It’s a small but important buy.
I appreciate your detailed coverage of Sandridge.