While the sale of its Permian Basin assets for $2.6 billion dollars will help reduce SandRidge's (NYSE:SD) debt, in addition to filling its production budget gap through 2014, the company is now primarily a one-play company. SandRidge owns 1.85-million acres in the the Mississippian Lime spanning through Oklahoma and Kansas, but if this vast play does not contain the oil content expected by management, shareholders could lose out. 

The Permian Basin production, which consisted of 80% liquids, was a valuable strip of land supplying SandRidge with cheap oil and steady cash flow. With this play now sold to Sheridan Production Partners, SandRidge is placing all its eggs in the Mississippian basket. If the company continues to realize that the play consists more of natural gas than oil, its options will be limited. Check out the video below for more information on the deal and what it means for long-term shareholders.

Joel South owns shares of SandRidge Energy. Fool contributor Tyler Crowe has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.