March 19 (Reuters) - SandRidge Energy Inc:
* SANDRIDGE ANNOUNCES REJECTION OF MIDSTATES’ PROPOSAL AND REVIEW OF STRATEGIC ALTERNATIVES
* SANDRIDGE ENERGY - BOARD REJECTED MIDSTATES PETROLEUM’S UNSOLICITED PUBLIC OFFER TO COMBINE COS IN STOCK FOR STOCK MERGER AT 60%/40% EXCHANGE RATIO
* SANDRIDGE ENERGY INC - HAS RECEIVED INDICATIONS OF INTEREST REGARDING ALTERNATIVE TRANSACTIONS FROM OTHER OIL AND GAS COMPANIES
* SANDRIDGE - REJECTION OF MIDSTATES’ PROPOSAL PRIMARILY BASED ON “SIGNIFICANTLY DIFFERING OPINIONS” OF MIDSTATES’ PROVEN OIL AND GAS RESERVES
* SANDRIDGE ENERGY INC - IT WILL UNDERTAKE A FORMAL PROCESS TO EVALUATE STRATEGIC ALTERNATIVES
* SANDRIDGE - CO DOES NOT SUPPORT MIDSTATES’ ESTIMATE THAT COMBINED BUSINESS PLAN WOULD RESULT IN GENERALLY FLAT PRODUCTION FROM 2019-2022
* SANDRIDGE ENERGY - STRATEGIC ALTERNATIVES TO INCLUDE EVALUATION OF DIVESTMENT OR JV OPPORTUNITIES ASSOCIATED WITH NORTH PARK BASIN ASSETS
* SANDRIDGE - CO DOES NOT SUPPORT MIDSTATES’ ESTIMATE THAT COMBINED BUSINESS PLAN WOULD RESULT IN FREE CASH FLOW OF $320 MILLION - $400 MILLION, FROM 2019-2022
* SANDRIDGE - CONCLUDED THAT ACCEPTING MIDSTATES’ PROPOSAL WOULD BE “HIGHLY DILUTIVE” Source text for Eikon: Further company coverage: