SANDRIDGE ENERGY, INC. ANNOUNCES ENTRY INTO DEFINITIVE AGREEMENT TO ACQUIRE ASSETS IN THE CHEROKEE PLAYOKLAHOMA CITY, June 29, 2026 /PRNewswire/ -- SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE: SD) today 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 $65 million, before customary purchase price adjustments and potential post-closing adjustments.(1) 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(2) 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.
PRNewsWire6/29/2026Neutral