SandRidge Energy (SD) said Tuesday it has closed the acquisition of certain producing assets and leasehold stakes in the Cherokee play of the Western Anadarko Basin for $144 million.
The company raised its 2024 production guidance to reflect the acquisition and said it now expects to produce between 5.4 million barrels of oil equivalent to 6.4 MMBoe compared with its previous forecast of 4.7 MMBoe to 5.9 MMBoe.
SandRidge Energy also lifted its 2024 capital expenditures guidance to between $33 million and $39 million, from $8 million to $11 million previously.
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