OKLAHOMA CITY, Oct. 24, 2014 /PRNewswire/ -- SandRidge
Energy, Inc. ("SandRidge") (NYSE: SD) announced today that its
wholly-owned subsidiary MidCon Midstream, LP ("MidCon Midstream"),
has filed a Registration Statement on Form S-1 with the U.S.
Securities and Exchange Commission ("SEC") relating to its proposed
initial public offering of common units representing limited
partner interests. MidCon Midstream is a Delaware limited partnership recently formed
by SandRidge to own, operate, acquire and develop assets used to
gather, process and dispose of saltwater produced alongside oil and
natural gas. MidCon Midstream expects its initial assets will
include well connections, gathering pipelines and disposal wells in
the Mid-Continent region of the United
States.
The number of common units to be offered and the price range for
the offering have not been determined. MidCon Midstream intends to
apply for a listing of the common units on the New York Stock
Exchange. SandRidge will own the general partner of MidCon
Midstream and all of its incentive distribution rights and expects
to initially retain a majority of MidCon Midstream's units
representing limited partner interests. It is anticipated
that a substantial majority of the net proceeds of the offering
will be distributed to SandRidge.
BofA Merrill Lynch and Barclays will act as the joint
book-running managers for the proposed offering. The offering of
common units will be made only by means of a prospectus. A copy of
the preliminary prospectus relating to this offering may be
obtained, when available, from:
BofA Merrill
Lynch
|
Barclays
|
222 Broadway, New
York, NY 10038
|
Attn: Broadridge
Financial Solutions
|
Attn:
Prospectus Department
|
1155 Long Island
Avenue
|
Email:
dg.prospectus_requests@baml.com
|
Edgewood, New York
11717
|
|
E-mail:
barclaysprospectus@broadridge.com
|
|
Telephone: (888)
603-5847
|
To obtain a copy of the preliminary prospectus free of charge,
visit the SEC's website and search under "MidCon Midstream,
LP".
A registration statement relating to these securities has been
filed with the SEC but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior
to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
Cautionary Note to Investors - This release contains
certain forward-looking statements that are based on current plans
and expectations and are subject to various risks and
uncertainties. Our business and any offering may be influenced by
many factors that are difficult to predict, involve
uncertainties that may materially affect actual results and are
often beyond our control. These factors include, but are not
limited to, changes to business plans as circumstances warrant and
limited partner interests of MidCon Midstream may not ultimately be
offered to the public because of general market conditions or other
factors. For a full discussion of these risks and uncertainties,
please refer to the "Risk Factors" section of MidCon Midstream's
Registration Statement on Form S-1 and the information included in
subsequent filings it makes with the SEC. We refer you to those
discussions for further information.
About SandRidge Energy
SandRidge Energy, Inc. (NYSE: SD) is an oil and natural gas
company headquartered in Oklahoma City,
Oklahoma with its principal focus on exploration and
production. SandRidge and its subsidiaries also own and
operate gas gathering and processing facilities, saltwater disposal
and electrical infrastructure facilities and conduct marketing
operations. In addition, Lariat Services, Inc., a
wholly-owned subsidiary of SandRidge, owns and operates a drilling
rig and related oil field services business. SandRidge
focuses its exploration and production activities in the
Mid-Continent region of the United States.
For further information, please contact:
Duane M. Grubert
EVP –
Investor Relations and Strategy
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK 73102-6406
(405) 429-5515
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SOURCE SandRidge Energy, Inc.