SandRidge Energy up 6% After JV Announcement

SandRidge Energy SD is up 6 percent in pre-market trading. The company announced yesterday that it has entered into a joint venture with a subsidiary of Repsol YPF. According to the press release, "SandRidge will sell an approximate 25% non-operated working interest, or 250,000 net acres, in the Extension Mississippian play located in Western Kansas and an approximate 16% non-operated working interest, or 113,636 net acres, in its Original Mississippian play." SandRidge Energy is currently trading at $8.73 pre-market, down $0.52 or 6.33%.