Key Developments: SandRidge Permian Trust (PER.N)
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Latest Key Developments (Source: Significant Developments)
Sandridge Permian Trust Announces Distribution Of $0.512 Per Unit
Sandridge Permian Trust announced quarterly distribution for the three-month period ended March 31, 2013 (which primarily relates to production attributable to the Trust`s interests from December 1, 2012 through February 28, 2013) of $24.8 million, or $0.512 per Common Unit and $0.353 per Subordinated Unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before May 30, 2013 to holders of record as of the close of business on May 15, 2013. Full Article
Sandridge Permian Trust Announces Distribution Of $0.603032 Per Unit
Sandridge Permian Trust announced a quarterly distribution for the three-month period ended December 31, 2012 (which primarily relates to production attributable to the Trust`s interests from September 1, 2012 through November 30, 2012) of $31.7 million, or $0.603032 per unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before March 1, 2013 to holders of record as of the close of business on February 14, 2013. Full Article
Sandridge Permian Trust Announces Distribution of $0.625203 Per Unit
Sandridge Permian Trust announced a quarterly distribution for the three-month period ended September 30, 2012 (which primarily relates to production attributable to the Trust’s interests from June 1, 2012 through August 31, 2012) of $32.8 million, or $0.625203 per unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before November 29, 2012 to holders of record as of the close of business on November 14, 2012. Full Article
Sandridge Permian Trust Announces Distribution Of $0.574232 Per Unit
Sandridge Permian Trust announced a quarterly distribution for the three-month period ended June 30, 2012 of $30.1 million, or $0.574232 per unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before August 29, 2012 to holders of record as of the close of business on August 14, 2012. Full Article
Sandridge Permian Trust Announces Distribution Of $0.58 Per Unit
Sandridge Permian Trust announced a quarterly distribution for the three-month period ended March 31, 2012 (which primarily relates to production attributable to the Trust’s interests from December 1, 2011 through February 29, 2012) of $30.5 million, or $0.581742 per unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before May 30, 2012 to holders of record as of the close of business on May 15, 2012. Full Article
Sandridge Permian Trust Announces Distribution Of $0.55 Per Unit
Sandridge Permian Trust announced a quarterly distribution for the three month period ended December 31, 2011 (which primarily relates to production attributable to the Trust’s interests from September 1, 2011 through November 30, 2011) of $29.1 million, or $0.553523 per unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before February 29, 2012 to holders of record as of the close of business on February 14, 2012. Full Article
Sandridge Permian Trust Announces Distribution of $0.72 Per Unit
Sandridge Permian Trust announced a quarterly distribution for the period from April 1, 2011 through August 31, 2011 of $37.9 million, or $0.722746 per unit. The distribution is expected to occur on or before November 30, 2011 to holders of record as of the close of business on November 15, 2011. Full Article
Sandridge Permian Trust Announces Closing of Initial Public Offering
Sandridge Permian Trust announced that it has closed its initial public offering (IPO) of 34,500,000 common units, including 4,500,000 common units sold pursuant to the exercise of the underwriters' over-allotment option, representing a 66% beneficial interest in the Trust. SandRidge Energy, Inc., as sponsor of the Trust, owns 4,875,000 common units and 13,125,000 subordinated units convertible into common units. The Trust has a total of 52,500,000 trust units outstanding. The common units trade on the New York Stock Exchange under the symbol PER. Gross proceeds of the transaction, before the underwriting discount, were $621 million. Before payment of offering expenses, SandRidge received approximately $584 million as partial consideration for the conveyance of the royalty interests held by the Trust. Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., RBC Capital Markets LLC, and Wells Fargo Securities, LLC served as joint book-running managers of the offering. Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Robert W. Baird & Co. Incorporated, Oppenheimer & Co. Inc., Morgan Keegan & Company Inc., Sanders Morris Harris Inc., Wunderlich Securities, Inc., SunTrust Robinson Humphrey, Inc., Johnson Rice & Company L.L.C. and Tuohy Brothers Investment Research, Inc. served as co-managers. Full Article
Sandridge Permian Trust Announces Pricing Of Initial Public Offering
Sandridge Permian Trust announced that it has priced its initial public offering of 30,000,000 common units at a price per common unit of $18.00. The 30,000,000 common units being sold in the offering represent a 57% beneficial interest in the Trust. The underwriters have 30 days to exercise an option to purchase an additional 4,500,000 common units from the Trust to cover over-allotments, if any. Following completion of the offering, SandRidge Energy, Inc (SandRidge), as sponsor of the Trust, will own 9,375,000 common units and 13,125,000 subordinated units convertible into common units, assuming no exercise of the underwriters' option, and the Trust will have a total of 52,500,000 trust units outstanding. The common units have been approved for listing on the New York Stock Exchange, and will trade under the symbol PER. The offering is expected to close on or about August 16, 2011. Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., RBC Capital Markets LLC, and Wells Fargo Securities, LLC are serving as joint book-running managers of this offering. Deutsche Bank Securities Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Robert W. Baird & Co. Incorporated, Oppenheimer & Co. Inc., Morgan Keegan & Company Inc., Sanders Morris Harris Inc., Wunderlich Securities, Inc., SunTrust Robinson Humphrey, Inc., Johnson Rice & Company L.L.C. and Tuohy Brothers Investment Research, Inc. are serving as co-managers. Full Article
Sandridge Permian Trust Launches Initial Public Offering-India Energy News
India Energy News reported that Sandridge Permian Trust has commenced an initial public offering of 31,500,000 common units representing a 60% beneficial interest in the Trust, along with 4,725,000 additional common units that may be purchased at the option of the underwriters to cover over-allotments. The initial public offering is being made pursuant to a Registration Statement on Form S-1 and Form S-3 previously filed with the U.S. Securities and Exchange Commission. Following completion of the offering, SandRidge Energy, Inc., as sponsor of the Trust, will own 7,875,000 common units and 13,125,000 subordinated units convertible into common units, assuming no exercise of the underwriters' option, and the Trust will have a total of 52,500,000 units outstanding. The common units have been approved for listing on the New York Stock Exchange, and will trade under the symbol PER. Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., RBC Capital Markets, LLC, and Wells Fargo Securities, LLC will serve as joint book-running managers of this offering. Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Robert W. Baird & Co. Incorporated, Oppenheimer & Co. Inc., Morgan Keegan & Company Inc., Sanders Morris Harris Inc., Wunderlich Securities, Inc., SunTrust Robinson Humphrey, Inc., Johnson Rice & Company L.L.C. and Tuohy Brothers Investment Research, Inc. will serve as co-managers. Full Article
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