NEW ORLEANS, March 25 (Reuters) - 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 million gallons 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)