SandRidge's purchase of some Forest Oil assets clears waiting period

By Lisa Kerner

Charlotte, N.C., Dec. 7 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in SandRidge Energy Inc.'s proposed acquisition of oil and gas properties in the Permian Basin from Forest Oil Corp., according to a government report.

It was previously reported that SandRidge plans to use borrowings under its existing credit facility to help fund the $800 million purchase, which is expected to close on Dec. 31.

SandRidge is an Oklahoma City-based natural gas and crude oil company.

Forest Oil is a Denver-based acquirer, explorer, developer and producer of natural gas and liquids.

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