SandRidge Energy, Inc. Announces $500 Million Horizontal Mississippian Joint
Venture
Point Roberts, WA. August 4, 2011 (Investorideas.com Energy Newswire) -
www.InvestorIdeas.com, a leader in sector research including oil and gas stocks, issues a trading
snapshot on Mississippian Formation oil and gas stocks for August 4th as SandRidge Energy, Inc.
made headlines for the play as it announced a $500 Million Joint Venture.
Sandridge Energy Inc. (NYSE: SD ) reported that it has entered into a joint venture with an
affiliate of Atinum Partners Co., Ltd., a leading investment firm located in the Republic of Korea.
Pursuant to the agreement, SandRidge will transfer an undivided 13.2% non-operated working
interest in approximately 860,000 acres, or approximately 113,000 net acres to Atinum for a total
transaction value to SandRidge of $500 million. Atinum will pay $250 million in cash at closing
and the remainder in the form of a drilling carry. The JV area of mutual interest ("AMI") covers
substantially all of SandRidge's original Mississippian Play area, located in Northern Oklahoma
and Southern Kansas, other than wells and acreage within the associated spacing units spudded
prior to the effective date and all wells and acreage associated with SandRidge Mississippian
Trust I. The transaction is expected to close in the fourth quarter and is subject to certain closing
conditions.
Osage Exploration and Development, Inc. (OTCBB: OEDV) recently announced that their
Nemaha Ridge Mississippian prospect has now reached 12,000 net mineral acres, an increase
from 10,000 net acres announced in late May 2011.
Mississippian Formation Sector Trading Snapshot
Chesapeake Energy Corporation (NYSE: CHK ) trading at $31.94
Osage Exploration and Development, Inc. (OTCBB: OEDV) trading at$0.42
Range Resources Corporation (NYSE: RRC ) trading at $61.02
Sandridge Energy Inc. (NYSE: SD ) trading at $10.13
Company Snapshot; Junior Oil and Gas Company Osage Exploration and Development,
Inc. (OTCBB: OEDV)
Based in San Diego, California with production offices in Oklahoma City, Oklahoma, and
executive offices in Bogotá, Colombia, Osage Exploration and Development, Inc. is an
independent exploration and production company with interests in oil and gas wells and
prospects in the US and Colombia. www.osageexploration.com
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