SandRidge Energy Announces Exchange Offer for its 8.750% Senior Notes due 2020
OKLAHOMA CITY, Sept. 28 /PRNewswire-FirstCall/ -- SandRidge Energy, Inc. (NYSE: SD) today announced the commencement of an offer to exchange all of its outstanding 8.750% Senior Notes due 2020 issued on December 16, 2009 (the "Old Notes") for new 8.750% Senior Notes due 2020 that are registered under the Securities Act of 1933, as amended (the "Securities Act"). The Old Notes were issued in a private placement exempt from the registration provisions of the Securities Act pursuant to Rule 144A and Regulation S under the Securities Act.
Terms of the new 8.750% Senior Notes due 2020 (the "New Notes") will be identical in all respects to the Old Notes, except that the transfer restrictions applicable to the Old Notes will not apply to the New Notes and, except in limited circumstances, the New Notes will not have rights to additional interest or registration rights. The Old Notes are subject, and any untendered Old Notes will remain subject, to transfer restrictions that, in general, prohibit holders from offering or selling the Old Notes unless the offer and sale are registered under the Securities Act or are exempt from registration under the Securities Act.
The exchange offer will expire at 5:00 p.m., Eastern time, on October 28, 2010, unless extended by SandRidge. Tenders of Old Notes must be made before the exchange offer expires and may be withdrawn at any time before expiration of the exchange offer.
Completion of the exchange offer is subject to certain conditions described in the prospectus dated September 28, 2010, including the continued effectiveness of the Registration Statement on Form S-4 (File No. 333-169465) relating to the exchange offer, which has been filed with the Securities and Exchange Commission.
SandRidge Energy has retained Wells Fargo Bank, National Association, to act as exchange agent for the exchange offer. Requests for copies of the prospectus and related letter of transmittal, as well as any questions concerning the exchange offer, should be directed to Wells Fargo Bank, National Association, Corporate Trust Operations, MAC N9303-121, Sixth & Marquette Avenue, Minneapolis, MN 55479, attn: Corporate Trust Operations, telephone 800-344-5128, facsimile 612-667-6282.
This press release is neither an offer to sell nor a solicitation of an offer to buy securities and no recommendation is made as to whether or not holders of Old Notes should exchange them. The exchange offer is made only by the prospectus and related letter of transmittal, copies of which are being provided to the holders of the Old Notes.
About SandRidge Energy
SandRidge Energy, Inc. is an oil and natural gas company headquartered in Oklahoma City, Oklahoma with its principal focus on exploration and production. SandRidge and its subsidiaries also own and operate gas gathering and processing facilities and CO2 treating and transportation facilitates and conduct marketing and tertiary oil recovery operations. In addition, Lariat Services, Inc., a wholly-owned subsidiary of SandRidge, owns and operates a drilling rig and related oil field services business. SandRidge focuses its exploration and production activities in the West Texas Overthrust, Permian Basin, Mid-Continent, Cotton Valley Trend in East Texas, Gulf Coast and Gulf of Mexico. SandRidge's internet address is www.sandridgeenergy.com.
CONTACT: |
|
Kevin R. White |
|
Senior Vice President |
|
SandRidge Energy, Inc. |
|
123 Robert S. Kerr Avenue |
|
Oklahoma City, OK 73102 |
|
+1 (405) 429-5515 |
|
SOURCE SandRidge Energy, Inc.
Share this article