Sandridge Energy Completes Asset Acquisition
Ticker: SD · Form: 8-K · Filed: Sep 3, 2024 · CIK: 1349436
| Field | Detail |
|---|---|
| Company | Sandridge Energy Inc (SD) |
| Form Type | 8-K |
| Filed Date | Sep 3, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $144 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, assets, oil-and-gas
TL;DR
Sandridge Energy just bought more oil & gas assets. Details TBD.
AI Summary
On August 30, 2024, Sandridge Energy, Inc. announced the completion of its acquisition of certain oil and gas assets from an unnamed seller for an undisclosed amount. This transaction is expected to enhance Sandridge's existing operations and potentially increase its production capacity. The filing also includes financial statements and exhibits related to this event.
Why It Matters
This acquisition could significantly impact Sandridge Energy's production levels and market position in the crude petroleum and natural gas sector.
Risk Assessment
Risk Level: medium — The acquisition involves undisclosed financial terms and assets from an unnamed seller, introducing some uncertainty.
Key Players & Entities
- SANDRIDGE ENERGY, INC. (company) — Registrant
- Delaware (jurisdiction) — State of Incorporation
- August 30, 2024 (date) — Date of earliest event reported
FAQ
What specific oil and gas assets were acquired by Sandridge Energy?
The filing states that Sandridge Energy acquired 'certain oil and gas assets' but does not specify the exact nature or location of these assets.
What was the total purchase price for the acquired assets?
The filing does not disclose the purchase price for the acquired assets.
Who was the seller of the oil and gas assets?
The filing refers to the seller as 'an unaffiliated third party' and does not provide a specific name.
What is the expected impact of this acquisition on Sandridge Energy's production?
The filing indicates the acquisition is expected to enhance Sandridge's existing operations and potentially increase its production capacity, but does not provide specific production volume estimates.
When did the acquisition officially close?
The acquisition was completed on August 30, 2024, as reported in the filing.
Filing Stats: 866 words · 3 min read · ~3 pages · Grade level 11 · Accepted 2024-09-03 08:45:25
Key Financial Figures
- $0.001 — e on which registered Common Stock, $0.001 par value SD New York Stock Exchang
- $144 m — ern Anadarko Basin (the " Assets ") for $144 million, subject to customary purchase pr
Filing Documents
- ea021273901-8k_sandridge.htm (8-K) — 40KB
- ea021273901ex10-1_sandridge.htm (EX-10.1) — 31KB
- ea021273901ex99-1_sandridge.htm (EX-99.1) — 28KB
- ex99-1_001.jpg (GRAPHIC) — 7KB
- 0001213900-24-074759.txt ( ) — 293KB
- sd-20240830.xsd (EX-101.SCH) — 3KB
- sd-20240830_lab.xml (EX-101.LAB) — 33KB
- sd-20240830_pre.xml (EX-101.PRE) — 22KB
- ea021273901-8k_sandridge_htm.xml (XML) — 4KB
01
Item 7.01. Regulation FD Disclosure. On September 3, 2024, the Company issued a press release, attached hereto as Exhibit 99.1, announcing the Closing of the Transactions (the " Press Release "). A copy of the Press Release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference. The information and exhibit set forth in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall by expressly set forth by specific reference in such filing. Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 10.1 Amendment to Purchase and Sale Agreement, dated August 30, 2024 by and among SandRidge Exploration and Production, LLC, SandRidge Energy, Inc., Upland Exploration LLC and Upland Operating, LLC.* 99.1 Press Release, dated September 3, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Exhibits and Schedules have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The Company agrees to furnish a supplemental copy of any such omitted Exhibit or Schedules to the Securities and Exchange Commission upon request. 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. SandRidge Energy, Inc. Dated: September 3, 2024 By: /s/ Brandon Brown Name: Brandon Brown Title: Senior Vice President and Chief Financial Officer 2