SandRidge Energy, Inc. Closes Sale Of Permian Basin Assets And Announces Redemption Of Senior Notes

   SandRidge Energy, Inc. Closes Sale Of Permian Basin Assets And Announces
                          Redemption Of Senior Notes

PR Newswire

OKLAHOMA CITY, Feb. 26, 2013

OKLAHOMA CITY, Feb. 26, 2013 /PRNewswire/ -- SandRidge Energy, Inc. (NYSE: SD)
(the "Company") today announced that it has closed the sale of its Permian
Basin properties, excluding assets associated with SandRidge Permian Trust
(NYSE: PER), to Sheridan Holding Company II, LLC for total cash proceeds of
$2.6 billion. The effective date of the sale is January 1, 2013. During the
fourth quarter of 2012, the divested properties produced approximately 23 MBoe
per day. The Company expects to use proceeds of the sale to reduce debt, as
described below, fund capital expenditures and for general corporate purposes.

(Logo: http://photos.prnewswire.com/prnh/20120416/DA88110LOGO)

The Company also announced that it has initiated a process to redeem all of
its outstanding 9.875% Senior Notes due 2016, which have an aggregate
principal amount outstanding of $365,500,000, and all of its 8% Senior Notes
due 2018, which have an aggregate principal amount outstanding of $750,000,000
(collectively, the "Notes"). Each series of Notes is being redeemed for a
redemption price of 100.00% of the principal amount thereof, plus a premium as
of the redemption date as well as accrued and unpaid interest on the Notes at
that time. The redemption date for the Notes is March 28, 2013.

FORWARD-LOOKING STATEMENTS

This communication may contain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve risks and uncertainties that may individually or mutually
impact the matters herein described for a variety of reasons that are outside
the control of the Company. Actual results could differ materially from those
discussed above. Important factors that could affect performance and cause
results to differ materially from management's expectations are described in
the sections entitled "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations" in the Annual Report on Form
10-K for the year ended December 31, 2011, which was filed with the Securities
and Exchange Commission (the "SEC") on February 27, 2012, as updated on its
Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2012,
filed on November 9, 2012, and as may be further updated from time to time in
the Company's SEC filings, which are available through the web site maintained
by the SEC at www.sec.gov. The Company's forward-looking statements in this
communication are based on management's current views and assumptions
regarding future events and speak only as of their dates. The Company
undertakes no obligation to publicly update or revise any forward looking
statements, whether as a result of new information, future events or
otherwise, except as required by the federal securities laws.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

On January 18, 2013 the Company filed with the SEC a definitive consent
revocation statement in connection with the consent solicitation by TPG-Axon
Partners, LP, TPG-Axon Management LP, TPG-Axon Partners GP, L.P., TPG-Axon GP,
LLC, TPG-Axon International, L.P., TPG-Axon International GP, LLC, Dinakar
Singh LLC, Dinakar Singh, Stephen C. Beasley, Edward W. Moneypenny, Fredric G.
Reynolds, Peter H. Rothschild, Alan J. Weber and Dan A. Westbrook (the
"TPG-Axon Consent Solicitation"), and has mailed the definitive consent
revocation statement and a form of WHITE consent revocation card to
stockholders of the Company entitled to execute, withhold or revoke consents
relating to the TPG-Axon Consent Solicitation. STOCKHOLDERS OF THE COMPANY
ARE URGED TO READ THE CONSENT REVOCATION STATEMENT, which is available now,
AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Stockholders may obtain a free copy of the consent revocation statement and
other documents (when available) filed with the SEC by the Company through the
website maintained by the SEC at www.sec.gov.

CERTAIN INFORMATION REGARDING PARTICIPANTS

The Company and certain of its directors and executive officers are
participants in the solicitation of consent revocations from the Company's
stockholders in connection with the TPG-Axon Consent Solicitation.
Stockholders may obtain information regarding the names, affiliations and
interests of the Company's directors and executive officers in the Company's
Annual Report on Form 10-K for the year ended December 31, 2011, which was
filed with the SEC on February 27, 2012, its Quarterly Reports on Form 10-Q
for the first three fiscal quarters of the fiscal year ending December 31,
2012, filed on May 7, 2012, August 6, 2012 and November 9, 2012, respectively,
and its definitive consent revocation statement, which was filed with the SEC
on January 18, 2013. These documents can be obtained free of charge through
the website maintained by the SEC at www.sec.gov.

About SandRidge Energy, Inc.

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 Mid-Continent, Gulf of Mexico,
west Texas and Gulf Coast. SandRidge's internet address is
www.sandridgeenergy.com.
SandRidge Energy 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.

Website: http://www.sandridgeenergy.com
 
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