SandRidge Energy, Inc., together with its subsidiaries, operates as a natural gas and oil company in the United States. The company engages in the exploration, development, and production of oil and gas properties. Its Exploration and Production segment explores for, develops, and produces natural gas and oil reserves in the West Texas Overthrust (WTO). The companyÂ’s Drilling and Oil Field Services segment drills wells for other oil and natural gas companies, primarily in the west Texas region. This segmentÂ’s oil field services include providing drilling rigs, pulling units, mud logging, trucking, rental tools, location and road construction, and roustabout services to third-parties. Its Midstream Gas Services segment provides gathering, compression, processing, and treating services of natural gas in west Texas. The company also captures and transports CO2 to the Permian Basin for use in tertiary oil recovery operations, as well as operates interests in the Mid-Continent, the Cotton Valley Trend in east Texas, the Gulf Coast, and the Gulf of Mexico. As of December 31, 2008, it had estimated proved reserves of 2,158.6 billion cubic feet equivalent, of which 88% were natural gas. The company also had 2,059 gross producing wells, as well as had oil interests in 1,655,956 gross leased acres. In addition, it had 29 rigs drilling in the WTO, 5 rigs drilling in east Texas, 3 rigs drilling in the Mid-Continent, and 3 rigs drilling in other areas. SandRidge Energy, Inc. was formerly known as Riata Energy, Inc. and changed its name to SandRidge Energy, Inc. in December 2006. SandRidge Energy, Inc. was founded in 1984 and is headquartered in Oklahoma City, Oklahoma.
$4.69 (03/11/09)
