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Tuesday, January 7, 2014

SandRidge Energy to exit U.S. Gulf in $750 million deal, (NYSE: SD)

Oil and gas producer SandRidge Energy Inc said it would sell its Gulf of Mexico operations to Fieldwood Energy LLC for $750 million to focus on drilling onshore. The company also raised its forecast for production growth in 2014 to 26 percent from 12 percent, after adjusting for the sale.

SandRidge Energy, Inc. is an independent oil and natural gas company. Shares of SD fell by 2.02% or $-0.12/share to $5.82. In the past year, the shares have traded as low as $4.52 and as high as $7.47. On average, 10389700 shares of SD exchange hands on a given day and today's volume is recorded at 9779285.