OKLAHOMA CITY (AP) - An Oklahoma City-based oil and natural gas producer has emerged from bankruptcy protection.

The Oklahoman  reports that SandRidge Energy Inc. was released from the protection Tuesday, shedding $3.7 billion of debt in its reorganization.

SandRidge filed for bankruptcy protection in May, citing high debt and low commodity prices. A judge approved the negotiated reorganization plan last month.

The company now has zero net debt. The elimination of the company's debt saves it about $300 million a year in interest payments.

The newly reorganized company's common stock began trading on the New York Stock Exchange on Tuesday.

SandRidge has about 630 employees, including 350 at its Oklahoma City headquarters.