SandRidge Energy Inc. has retained Tristone Capital and Deutsche Bank Securities to sell its East Texas and northern Louisiana assets. The assets are being offered in two packages involving 94% average working interest (98% operated) in 38,591 net acres. The East Texas package includes the Cotton Valley and Bossier/Haynesville subpackages. The Cotton Valley subpackage consists of three producing areas: Woodlawn Southwest, Minden and Oak Hill in Harrison, Gregg and Rusk counties with 37,524 gross acres (28,321 net). Net production in May was 41 million cubic feet equivalent per day from 212 wells. Net monthly cash flow for May was $12.5 million. Production in August was 50 million cubic feet per day. The East Texas Bossier/Haynesville shale subpackage includes 35,318 gross acres (25,076 net), with the majority held by Cotton Valley production, in Harrison, Gregg, Rusk and Panola counties. Net possible reserves are estimated to be 1,767 billion cubic feet. Total East Texas package proved reserves are 1,271 billion cubic feet equivalent (123 billion probable). The North Louisiana Bossier/Haynesville package includes 18,113 gross acres (13,515 net) primarily in Caddo and DeSoto parishes. All acreage is nonproducing and covers all depths. Leases have more than two and a half years remaining including extension options. Possible net reserves are 902 billion cubic feet. The entire divestiture involves more than 1,500 drilling opportunities in the Cotton Valley and 650 opportunities in the Bossier/Haynesville shale play on mostly HBP acreage. Net reserves total 2.7 trillion cubic feet equivalent. This transaction represents an exit from the region for SandRidge and infrastructure assets will be included and operating personnel will be made available. The data room is open. The bid due date is Oct. 16. Contact Rob Bilger, 713-651-4222.