OKLAHOMA CITY, Nov. 5 /PRNewswire-FirstCall/ -- SandRidge Energy, Inc.
("SandRidge") announced today the pricing of its initial public offering of
28,700,000 shares of common stock at $26.00 per share. An entity controlled
by Tom L. Ward, SandRidge's Chairman, Chief Executive Officer and
President, has agreed to purchase 4,170,000 of such shares at the initial
public offering price. SandRidge has granted the underwriters a 30-day
option to purchase up to 3,679,500 additional shares. Lehman Brothers Inc.,
Goldman, Sachs & Co. and Banc of America Securities LLC are acting as joint
book-running managers and representatives of the underwriters.
SandRidge's common stock is expected to begin trading on the New York
Stock Exchange under the symbol "SD" on November 6, 2007.
This information does not purport to be a complete description of these
securities or the offering. Please refer to the prospectus for a complete
description. This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities issuable pursuant to the
registration statement, nor will there be any sale of these securities in
any state or jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction. The offering is being made only be
means of a prospectus, copies of which may be obtained from (i) Lehman
Brothers Inc., c/o Broadridge Prospectus Fulfillment, 1155 Long Island
Avenue, Edgewood, NY 11717, via fax at 631-254-7140 or via email at
Qiana.Smith@Broadridge.com; (ii) Goldman, Sachs & Co., Attn: Prospectus
Department, 85 Broad Street, New York, NY 10004, via fax at 212-902-9316 or
via e-mail at prospectus- firstname.lastname@example.org; or (iii) Banc of America
Securities LLC, Prospectus Department, 100 West 33rd Street, 3rd Floor, New
York, NY 10001, via phone at 800-294-1322 or via email at
For further information, please contact:
Dirk M. Van Doren
Chief Financial Officer
SandRidge Energy, Inc.
1601 N.W. Expressway, Suite 1600
Oklahoma City, OK 73118
SandRidge Energy, Inc. is an oil and natural gas company headquartered
in Oklahoma City with its principal focus on exploration and production.
SandRidge also owns and operates drilling rigs and a related oil field
services business operating under the Lariat Services, Inc. brand name; gas
gathering, marketing and processing facilities; and, through its
subsidiary, PetroSource Energy Company CO2 treating and transportation
facilities and tertiary oil recovery operations. SandRidge focuses its
exploration and production activities in West Texas, the Cotton Valley
Trend in East Texas and the Gulf Coast. SandRidge also owns oil and gas
properties in the Piceance Basin of Colorado, the Gulf of Mexico and the
Anadarko and Arkoma Basins. The company's Internet address is
SOURCE SandRidge Energy, Inc.