SandRidge Eyeing Options For Fracking Water Disposal Unit


NEW ORLEANS, March 25 (Reuters) - SandRidge Energy Inc has started taking steps toward monetizing its fracking water disposal business, the largest in the United States, as it tightens its core focus on oil and natural gas development, its chief executive said on Tuesday.

SandRidge has begun a financial audit of the unit, which currently processes 980,000 barrels of water per day. The unit is on track to have $135 million in EBITDA this year, SandRidge Chief Executive Officer James Bennett said at the Howard Weil energy conference in New Orleans.

"We're taking steps to, at some point, unlock the value of it," he said. "Some time soon we want to fully monetize this."

(Reporting by Ernest Scheyder; Editing by Cynthia Osterman)

Copyright 2016 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Process Safety Engineer
Expertise: Chemical Engineering|Process Engineer|Safety Engineering
Location: Pasadena, CA
Staff Engineer / Scientist
Expertise: Environmental Engineer
Location: Los Angeles, CA
Staff Engineer / Scientist
Expertise: Environmental Engineer
Location: Irvine, CA
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours