Sandridge Energy says proceeds from building sale should ease 'going concern' doubts, shares up

SandRidge Energy

01/09/2020 18:33

** Shares of oil and gas firm Sandridge Energy Inc  SD.N  up
7.3% at $1.695 
    ** Sandridge announces closing on the sale of its 30-story
office tower in Oklahoma for ~$35.4 mln  urn:newsml:reuters.com:*:nFWN2FY0IF
    ** Co says net proceeds from the sale should alleviate any
substantial doubt about its ability to continue as a 'going
concern'
    ** Sandridge had ~$14.9 mln in cash and $59 mln in
outstanding debt under the its revolving credit facility, as of
June 30
    ** Stock down 60% YTD 

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))