(Corrects amount of daily processing to 980,000 barrels from
980 million gallons)
NEW ORLEANS, March 25 SandRidge Energy Inc
has started taking steps toward monetizing its fracking
water disposal business, the largest in the United States, as it
tightens its core focus on oil and natural gas development, its
chief executive said on Tuesday.
SandRidge has begun a financial audit of the unit, which
currently processes 980,000 barrels of water per day. The unit
is on track to have $135 million in EBITDA this year, SandRidge
Chief Executive Officer James Bennett said at the Howard Weil
energy conference in New Orleans.
"We're taking steps to, at some point, unlock the value of
it," he said. "Some time soon we want to fully monetize this."
(Reporting by Ernest Scheyder; Editing by Cynthia Osterman)