Deal Details
Initial Public Offering
Summary
Baird served as a co-manager in this offering
About
SandRidge Permian Trust (NYSE:PER) (the “Trust”) recently completed an initial public offering of 34,500,000 common units at a price of $18.00 per unit, generating approximately $621.0 million of gross proceeds. The Trust will deliver the net proceeds to the Trust’s sponsor, SandRidge Energy, Inc., who intends to use the proceeds to repay borrowings under its credit facility and for general corporate purposes, which may include the funding of its drilling obligation.SandRidge Permian Trust is a Delaware statutory trust formed by SandRidge Energy, Inc. to own royalty interests in oil and natural gas wells in the Grayburg/San Andres formation in the Permian Basin in Andrews County, Texas.
SandRidge Energy, Inc. is a publicly traded, independent oil and natural gas company concentrating on development and production activities related to the exploitation of its significant holdings in West Texas and the Mid-Continent area of Oklahoma and Kansas. SandRidge Energy, Inc. has approximately 210,000 net acres in the Permian Basin and also owns and operates other interests in the Mississippian Formation, Mid-Continent, Cotton Valley Trend in East Texas, Gulf Coast and Gulf of Mexico.
For additional information about this transaction, please contact:
- Date
- August 2011
- Company
- SandRidge Permian Trust
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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