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SandRidge Energy Selling All Permian Basin Assets

SandRidge Energy is selling off all of its property in the Permian Basin, as it shifts its focus in the energy market.
OKLAHOMA CITY, OK -- SandRidge Energy is selling off all of its property in the Permian Basin, as it shifts its focus in the energy market.

    The Oklahoma City, OK-based company is selling off assets as it switches its focus from being a natural gas company to one more focused on oil.

    The company is selling its Permian Basin holding to Sheridan Production Partners for about $2.6 billion in cash.

    The money gained from the sale will also help SandRidge Energy reduce their debt.

    The deal should close in early 2013.
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