SandRidge Energy (SD.N) plans to sell natural gas assets this year in an effort to bridge the gap between the U.S. oil and gas company's spending and cash flow, the company's chief executive said on Wednesday. "We do have assets that we could continue to sell -- the natural gas assets," Tom Ward, SandRidge's chief executives told reporters after speaking at a conference. "In the next year, we think we might even be able to market some of those." SandRidge needs about a $1 billion in non-debt financing over the next three years, an amount that could be raised through asset sales and another royalty trust offering, Ward said. The Oklahoma City, Oklahoma company closed its Permian Trust initial public offering (PER.N) on Wednesday, generating gross proceeds of $621 million.
Shares of SD traded higher by 2.47% or $0.19/share to $7.88. In the past year, the shares have traded as low as $3.87 and as high as $13.34. On average, 15484200 shares of SD exchange hands on a given day and today's volume is recorded at 14231618.
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