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-0.000338294993234153 -0.00135317997293637 0.0148849797023003 0.0148849797023003 0.0480378890392422 0.043978349120433 0.0443166441136671 0.0619079837618403
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SandRidge Energy to buy Bonanza Creek in $746 million deal [Reuters]

SANDRIDGE ENERGY INC (SD)  More Company Research Source: Reuters
Last sandridge energy inc earnings: 2/21 04:15 pm Check Earnings Report
PDF SandRidge Energy to buy Bonanza Creek in $746 million deal | Reuters 2 Min Read (Reuters) - Oil and gas producer SandRidge Energy said on Wednesday it would buy rival Bonanza Creek in a deal valued at $746 million to expand its presence in the Denver-Julesburg Basin of Colorado. Shares of SandRidge fell 19.4 percent, while those of Bonanza Creek slipped 2.3 percent and were trading well below the offer price of $36, suggesting investors were skeptical of the deal going through. Both SandRidge and Bonanza Creek have emerged from bankruptcies after being stung by a slump in oil prices. “This acquisition greatly enhances our existing portfolio by adding a deep inventory of drill-ready locations in the DJ Basin of Colorado,” SandRidge Chief Executive James Bennett said on Wednesday. The combined entity, SandRidge-Bonanza Creek, will operate over 630,000 net acres in the Rocky Mountains and Mid-Continent regions, producing about 55,000 barrels of oil equivalent per day, the two companies s [Read more]

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