SandRidge Energy to acquire Dynamic Offshore Resources

Offshore staff

OKLAHOMA CITY – SandRidge Energy has entered into an agreement to acquire Dynamic Offshore Resources for aggregate consideration of $1.275 billion. The consideration includes about $680 million in cash and about 74 million shares of SandRidge common stock valued at $8.02 per share. 

Dynamic Offshore Resources operates primarily in water depths of less than 300 ft (91 m) and current production is approximately 25 MMboe/d. Dynamic's year-end 2011 proved reserves are 62.5 MMboe and are valued at approximately $1.9 billion using SEC net present value discounted at 10% (PV-10).

Of these reserves, 80% of the value and the quantity are proved developed. Approximately 50% of Dynamic's current production and proved reserves consists of oil.

2/3/2012

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...