US-Based SandRidge Increases Texan Holdings After Arena Purchase

摘要

Oklahoma City-based independent SandRidge Energy has agreed to pay $1.55 billion in cash and stock for Arena Resources in a deal that will make SandRidge one of the largest producers of conventional oil and gas in West Texas. The deal raises SandRidge's holdings in the oil-rich Permian Basin to 200,000 net acres from 130,000 net acres. It is the company's second West Texas purchase since November, when it paid $800 million for Forest Oil's assets in the area.