SandRidge sells Chaparral Supply assets

MRC Global Inc. of Houston has agreed to buy most of the operating assets of oil field services company Chaparral Supply LLC from Oklahoma City-based SandRidge Energy Inc., MRC announced Tuesday.
Modified: June 5, 2012 at 10:09 pm •  Published: June 6, 2012

In brief

SandRidge sells assets

MRC Global Inc. of Houston has agreed to buy most of the operating assets of oil field services company Chaparral Supply LLC from Oklahoma City-based SandRidge Energy Inc., MRC announced Tuesday. Chaparral Supply is a Cherokee-based wholly owned subsidiary of SandRidge and has no connection to Oklahoma City-based Chaparral Energy Corp. The company provides pipe, valve and fitting products and oil field supplies to SandRidge. The buyer said it plans to merge Chaparral Supply's employees and some inventories and other assets with MRC's existing service location in Alva. Also as part of the deal, MRC and SandRidge have agreed to enter into a supply agreement where MRC will serve as the primary pipe, valve and fitting production and oil field supply distributor to SandRidge's operations in Oklahoma and Kansas. Terms were not disclosed, but SandRidge described it as a “very minor transaction.”

From staff reports