KEYFACT Energy
SandRidge Energy today announced the closing on the sale of the Company's 30-story office tower and annex with parking and ancillary uses located at 123 Robert S. Kerr, Oklahoma City, Oklahoma 73102, for net proceeds of approximately $35.4 million.
As of June 30, 2020, the Company had approximately $14.9 million in cash and $59.0 million in outstanding debt under the Company's revolving credit facility. The $35.4 million in net proceeds received as part of the closing of the Sale significantly reduces the Company's net debt position. The Company believes that the closing of the Sale and resulting receipt of $35.4 million in net proceeds should alleviate any substantial doubt about its ability to continue as a going concern.
KeyFacts Energy: SandRidge US onshore country profile