SandRidge Energy (SD) said Monday it agreed to acquire certain producing assets and leasehold interests in the Cherokee play in the mid-continent region for $65 million in cash.
The assets are located within the mid-continent region, with an estimated production of around 3,000 barrels of oil equivalent per day and around 7,000 net leasehold acres providing additional inventory, the company said.
The acquisition, targeted to close in Q3, is expected to be accretive to production, EBITDA and free cash flow, the company said.
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