OKLAHOMA CITY, Oct. 28 /PRNewswire-FirstCall/ -- SandRidge Energy, Inc. (NYSE: SD) today announced the expiration of the offer to exchange all of its outstanding 8.750% Senior Notes due 2020 issued December 16, 2009 ("Old Notes") for new 8.750% Senior Notes due 2020 ("New Notes") that are registered under the Securities Act of 1933. The exchange offer expired at 5:00 p.m., Eastern time, on October 28, 2010.
Wells Fargo Bank, National Association, the exchange agent for the exchange offer, has advised the company that Old Notes in the aggregate principal amount of $450,000,000 were validly tendered and not validly withdrawn prior to the expiration of the exchange offer, which represents 100% of the aggregate principal amount of Old Notes outstanding upon commencement of the exchange offer. The company has accepted for exchange all of the Old Notes validly tendered and not validly withdrawn. The company expects to issue the New Notes in exchange for the Old Notes on or about November 2, 2010.
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 have exchanged them. The exchange is being conducted pursuant to the terms of the prospectus and related letter of transmittal dated September 28, 2010, copies of which were provided to 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 facilities 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.
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.