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SandRidge Permian Trust Announces Sale of Underlying Properties

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chadlupkes   Saturday, 12/01/18 11:33:40 AM
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SandRidge Permian Trust Announces Sale of Underlying Properties by SandRidge Energy, Inc.
Monday, November 5, 2018 3:15 pm CST
Dateline:
HOUSTON
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Public Company Information:
NYSE:PER
HOUSTON--(BUSINESS WIRE)--SANDRIDGE PERMIAN TRUST (NYSE: PER) today announced that on November 1, 2018, SandRidge Energy, Inc. (“SandRidge”) sold all of its interests in the oil and natural gas properties underlying the Trust and all of its outstanding Trust units to Avalon Energy, LLC (“Avalon”), a Texas limited liability company. In connection with the transaction, Avalon assumed all of SandRidge's obligations under the Amended and Restated Trust Agreement and the Administrative Services Agreement between SandRidge and the Trust.

The Trust expects to continue in the normal course without disruption to the unitholders, and the resulting sale is not expected to have an impact on the operations and future distributions of the Trust.

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