4/5/2010-SandRidge Energy (NYSE:SD) announced that it is acquiring rival Arena Resources (NYSE:ARD) in a deal valued at approximately $1.6 billion.
The move strategically alters SandRidge's focus further into conventional oilfield assets as natural gas prices continue to decline.
Shares of SandRidge are trading 7% lower on the news, while Arena is up 8.3%.
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