SandRidge Energy, Inc. (fka SDOCQ)

[Mcgill]

• SDOC says it reached a restructuring support agreement with creditors that own more than two thirds of its $4.1B in funded debt obligations, which includes a reserve-based lending facility and the conversion to equity of ~$3.7B of other funded debt.
• The company says it expects to have enough liquidity to fund operations and its capital program through Chapter 11 without the need for further capital.
• SDOC says it has ~$7B in assets and $4B in debt.