SandRidge Energy Inc.'s newest subsidiary has completed a $50 million acquisition of Gulf Coast assets.
SandRidge announced Friday that subsidiary Dynamic Offshore Resources LLC has acquired 74 active wells and about 185,000 gross acres along the Gulf Coast from south Texas to eastern Louisiana. The acreage currently produces about 3,000 barrels of oil a day.
Dynamic bought the offshore assets from Hunt Oil Co. and two affiliates.
SandRidge acquired Houston-based Dynamic in April in a $1.2 billion deal meant to boost the company's oil production.
JAY F. MARKS,