SD News & Events

SandRidge Energy announced the entry into a definitive agreement to acquire certain producing assets and leasehold interests in the Cherokee Play in the Mid-Continent region for cash consideration of $65M, before customary purchase price adjustments and potential post-closing adjustments. Acquisition Highlights: Acquisition assets located within the Mid-Continent region, directly offsetting SandRidge's current drilling operations and leasing program. Net production of 3.0 MBoed (43% oil) and 7,000 net leasehold acres provide additional inventory and expand efficient operations in the area. Includes interests in 21 wells and eight proven development locations. Immediately accretive to key metrics, including production, EBITDA and free cash flow. Oily PDP production and new development are projected to further increase SandRidge's liquids mix on a pro forma basis. May 1, 2026 effective date with anticipated closing in the third quarter 2026. SandRidge plans to fund the transaction with cash on hand.

Reports Q1 revenue $49.78M vs. $42.6M last year. Production averaged 18.6 MBoe per day during Q1, an increase of 4% on a Boe basis versus the same period in 2025. Oil production increased 31% and total revenues increased 17% during the quarter versus the same period in 2025. CEO Grayson Pranin commented: "The SandRidge team delivered another strong quarter, to include bringing on two new operated wells which benefited oil production during the period. I'm proud of our team that continues to execute, while maintaining a low G&A burden, and more importantly, continues to build upon the company's record of more than four years without a recordable safety incident."