SandRidge sells assets for $2.6B
SandRidge Energy Inc. said Tuesday it has completed its previously announced $2.6 billion sale of assets in Texas' Permian Basin, effective Jan. 1. The Oklahoma City-based energy company said it will use the proceeds to reduce debt, fund capital expenditures and for general corporate purposes. SandRidge also said Tuesday it will redeem all of its outstanding 9.875 percent senior notes due 2016 — which have an aggregate principal amount outstanding of more than $365 million — and all of its 8 percent senior notes due 2018 — which have an aggregate principal amount outstanding of $750 million. The redemption date is March 28.
Discrimination claims sought
U.S. Agriculture Secretary Tom Vilsack this week reminded Hispanic and women farmers and ranchers who allege discrimination by the USDA in past decades that they must file their claims by March 25. As announced in February 2011, the voluntary claims process will make available at least $1.33 billion for cash awards and tax relief payments, plus up to $160 million in farm debt relief, to eligible Hispanic and women farmers and ranchers. There are no filing fees to participate in the program. The process offers a voluntary alternative to litigation for each Hispanic or female farmer and rancher who can prove that USDA denied his or her application for loan or loan servicing assistance for discriminatory reasons for certain time periods between 1981 and 2000. Claims can be made by calling (888) 504-4429 or by visiting www.farmerclaims.gov.
REI names new president, CEO
DURANT — REI Oklahoma has named Oklahoma Cattlemen's Association Executive Vice President Scott Dewald its new president and CEO, effective April 1. Dewald has served as a director at the Oklahoma Department of Agriculture, the Oklahoma Agriculture Cooperative Council, Secretary of the Environment's Office and the Oklahoma Cattlemen's Association. He has been president of the Oklahoma Society of Association Executives, is a Leadership Oklahoma graduate and an Oklahoma State University Distinguished Alumni. “He is a pragmatic, forward-thinking and visionary leader. We are excited to have him at the helm of our organization,” said REI's incoming board chairman, Martin VanMeter.