SandRidge Sells Texas Properties For $231M

Law360, New York (September 27, 2011, 9:40 PM EDT) -- Oklahoma-based oil and gas company SandRidge Energy Inc. on Tuesday announced that it would sell its East Texas natural gas properties to Houston-based NFR Energy LLC for $231 million.

The properties, located in Gregg, Harrison, Rusk and Panola counties, span roughly 25,000 net acres, and have had an average production this year of roughly 25 million cubic feet equivalent per day, the company says. SandRidge expects to close the sale in November.

"This asset sale is part of the capital plan [of] … doubling oil production,...
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