Vinson Guides Morgan Stanley PE Unit’s $130M Oil Co. Buy

Law360, New York (June 4, 2012, 6:10 PM EDT) -- 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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.