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Fieldwood closes Gulf of Mexico, Gulf Coast acquisition

Fieldwood Energy LLC

Fieldwood Energy LLC has closed its acquisition of SandRidge Energy Inc.'s Gulf of Mexico and Gulf Coast business unit for a net cash payment of approximately $705 million, which reflects adjustments to the purchase price for cash flow since the effective date and net working capital.

Production from the acquired assets currently exceeds 26,000 boepd. The acquisition further enhances Fieldwood's position as the owner of the largest asset base on the Gulf of Mexico Shelf while also expanding the company's portfolio to include an onshore Gulf Coast division and the deepwater Bullwinkle field. 

 

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