SandRidge Energy asset sale results in layoffs
BY JAY F. MARKS NewsOK.com
Friday, January 11, 2013
1/15/13 at 8:48 PM
Correction: This story originally contained an incorrect timeline on the layoffs. The story and headline have been corrected.
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OKLAHOMA CITY - SandRidge Energy Inc. has pared a small percentage of its work force as it sheds a big piece of its asset base.
SandRidge announced last month that it had struck a $2.6 billion deal to sell the bulk of its holdings in west Texas' oil-rich Permian Basin, spurring the need to shuffle its work force.
"As expected with the divestiture of any major asset, we have reorganized and eliminated positions no longer required," company spokesman Greg Dewey said. "In reorganizing, we have moved a large portion of our Permian team into positions that will allow us to maximize our development of the Mississippi Lime play."
The Oklahoma City-based company, which listed about 2,400 employees in last year's annual report, declined to offer any further details.
Original Print Headline: SandRidge asset sale to result in layoffs
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