SandRidge may repay some revolver debt with proceeds from sale of 12.2 million shares

By Sara Rosenberg

New York, April 23 - SandRidge Energy Inc. plans on possibly repaying a portion of its revolving credit facility borrowings using proceeds from an offering of 12.2 million shares of common stock, according to a news release.

Proceeds may be used to fund a portion of the company's 2009 exploration, development and other capital expenditures.

SandRidge is an Oklahoma City-based natural gas and crude oil company.

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