| IRS gives blessing to SandRidge for water disposal MLP -filing | |
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HOUSTON, June 1 (Reuters) - SandRidge Energy Inc said the Internal Revenue Service has determined that income from its well-water treatment and disposal business will qualify for inclusion in a master limited partnership (MLP), according to a regulatory filing on Monday. SandRidge, based in Oklahoma City, Oklahoma, in October filed documents with the U.S. and Securities Exchange Commission to register the partnership, called CEBA Midstream LP, for a potential public offering. SandRidge's request about the water disposal business had been snared for more than a year by the IRS' decision to "pause" the issuance of so-called private letter rulings on qualifying income for MLPs while the agency reviewed the process. The IRS lifted the "pause" in March. SandRidge said it received its letter on May 29, according to an SEC filing. The company, which drills for crude in the watery Mississippi Lime formation, has seen its liquidity sapped by the steep decline in oil prices. An MLP for its water-disposal unit is seen as one way to the unlock value of that business. MLPs are a structure favored by energy companies because they pay no income taxes, instead passing profits to investors who receive high yields. Because the partnerships pay no taxes, they have a lower cost of capital that provides an advantage. (Reporting by Anna Driver; Editing by Terry Wade and David Gregorio)
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SandRidge Energy
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CODE : SD |
ISIN : US80007P3073 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
SandRidge est une société d’exploration minière basée aux Etats-Unis D'Amerique. SandRidge est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 513,4 millions US$ (481,6 millions €). La valeur de son action a atteint son plus bas niveau récent le 06 janvier 2016 à 0,15 US$, et son plus haut niveau récent le 18 avril 2024 à 14,32 US$. SandRidge possède 35 850 000 actions en circulation. |