Law360, New York (June 04, 2012, 6:10 PM ET) -- A Morgan Stanley private equity portfolio company strengthened its enhanced oil recovery business with a $130 million deal for SandRidge Energy Inc.’s West Texas-based EOR arm, according to an announcement Monday.
The Oklahoma City, Okla.-based SandRidge unloaded its tertiary recovery assets in the Permian Basin, which produce 1,100 barrels of oil equivalent daily, according to parallel statements from Morgan Stanley and SandRidge.
The cash deal transfers SandRidge Tertiary LLC to Trinity CO2 Investments LLC, a Midland, Texas-based carbon dioxide pipeline and supply company that Morgan Stanley...
Vinson Guides Morgan Stanley PE Unit’s $130M Oil Co. Buy
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