OKLAHOMA CITY, Oct. 24, 2014 /NEWS.GNOM.ES/ — 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:
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
SOURCE SandRidge Energy, Inc.