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News Update: SandRidge Energy (NYSE: SD) Buys Arena Resources for $1.6 Billion

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Uploaded by on Apr 5, 2010

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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