SandRidge Energy to buy Mid-Continent assets in $65M deal

SandRidge Energy agreed to acquire producing assets and leasehold interests in the Mid-Continent region's Cherokee play for $65 million in cash. The deal includes interests in 21 wells, eight proven development locations, approximately 3,000 boe/day production, and 7,000 net leasehold acres. CEO Grayson Pranin stated the acquisition bolsters inventory and is accretive to production, EBITDA, and free cash flow.