Houston Business Journal reports a Houston private equity player and a Kansas energy acquisition company are taking a look at SandRidge Energy. Reporter Suzanne Edwards writes on Wednesday that Blue Star Energy is discussing options with A.V. Jones who is the co-founder and senior advisor to Quantum Energy Partners.
According to the story Blue Star was created solely for the purpose of acquisitions. The company has built a group interested in SandRidge.
The beleaguered Oklahoma City company is testing the waters for debt restructuring which could lead to a bankruptcy plan. Edwards interviewed an advisor who is consulting Blue Star on SandRidge. He contends a prepackaged bankruptcy would be the optimal way for Quantum to acquire SandRidge. Quantum has a recent history of buying distressed energy companies among them, Linn Energy.
Read the Houston Business Journal story here
