SandRidge to pay down credit facility with property sale proceeds

By Melissa Kory

Cleveland, Feb. 24 - SandRidge Energy, Inc. announced that it intends to repay the outstanding borrowings under its credit facility using proceeds from the sale of properties in Lea and Eddy counties in New Mexico for $200 million.

The sale is expected to close in April.

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

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