Text Size:
A | A

SandRidge Sells Gulf Assets For $750 Million To ‘Newcomer’ Fieldwood Energy

Text Size: A | A
By Darren Barbee, Hart Energy
January 9, 2014

Since July, Fieldwood Energy LLC of Houston has gone from virtually invisible to have-to-see-it-to-believe-it in the Gulf of Mexico.

On Jan. 7, three months after closing a multi-billion dollar deal with Apache Corp. (NYSE: APA) for its Gulf assets, Fieldwood announced it would buy SandRidge Energy Inc.’s (NYSE: SD) Gulf assets and Gulf Coast business unit for $750 million, less than the assets were worth two years ago.

Matt McCarroll, Fieldwood’s president and CEO, is treading old waters. In February 2012, his previous company, Dynamic Offshore Resources LLC, sold its ...


Already a subscriber? Log In
Password:
 
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription