SandRidge Energy, Inc. Reports Financial and Operational Results for Fourth Quarter and Full Year 2012

 SandRidge Energy, Inc. Reports Financial and Operational Results for Fourth
                          Quarter and Full Year 2012

Mississippian Quarterly Production Grew to 35.9 MBoe per Day, a 19% Increase
from the Previous Period and a 131% Increase over the Fourth Quarter of 2011

Record Oil and Total Production of 18.0 MMBbls and 33.6 MMBoe in 2012

Total Proved Reserve Growth of 20% and Reserve Replacement of 454%

Closes Sale of Permian Basin Assets for $2.6 Billion

Updates 2013 Guidance, Giving Effect to the Permian Divestiture

- Estimated Total Production of 34.3 MMBoe

- Estimated Mississippian Production of 17.4 MMBoe, 72% Growth

- Reaffirms Planned Capital Expenditures of $1.75 Billion

PR Newswire

OKLAHOMA CITY, Feb. 28, 2013

OKLAHOMA CITY, Feb. 28, 2013 /PRNewswire/ --SandRidge Energy, Inc. (NYSE: SD)
today announced financial and operational results for the quarter and year
ended December 31, 2012.

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

Key Financial Results

Fourth Quarter

  oAdjusted EBITDA of $318 million for fourth quarter 2012 compared to $175
    million in fourth quarter 2011.
  oOperating cash flow of $259 million for fourth quarter 2012 compared to
    $154 million in fourth quarter 2011.
  oNet loss applicable to common stockholders of $302 million, or $0.63 per
    diluted share, for fourth quarter 2012 compared to net loss applicable to
    common stockholders of $389 million, or $0.97 per diluted share, in fourth
    quarter 2011.
  oAdjusted net income of $35.3 million, or $0.06 per diluted share, for
    fourth quarter 2012 compared to adjusted net income of $8.7 million, or
    $0.02 per diluted share, in fourth quarter 2011.

Full Year

  oAdjusted EBITDA of $1,070 million for 2012 compared to $654 million in
    2011.
  oOperating cash flow of $915 million for 2012 compared to $542 million in
    2011.
  oNet income available to common stockholders of $86 million, or $0.19 per
    diluted share, for 2012 compared to net income available to common
    stockholders of $52 million, or $0.13 per diluted share, in 2011.
  oAdjusted net income of $124.3 million, or $0.23 per diluted share, for
    2012 compared to adjusted net income of $6.9 million, or $0.01 per diluted
    share, in 2011.

Adjusted net income available (loss applicable) to common stockholders,
adjusted EBITDA and operating cash flow are non-GAAP financial measures. Each
measure is defined and reconciled to the most directly comparable GAAP measure
under "Non-GAAP Financial Measures" beginning on page 10.

Highlights

  oConsolidated SEC PV-10 reserves value of $7.5 billion, a 9% increase from
    2011
  oConsolidated proved reserves of 566 MMBoe, a 20% increase from 2011
  oConsolidated proved oil reserves of 330 MMBbls, a 35% increase from 2011
  oYear end liquidity of $2.5 billion, pro forma for Permian sale and $1.1
    billion in debt reduction
  oMississippian average 30-day IP increased 17% for wells completed in the
    fourth quarter versus wells completed in the third quarter
  oReduced Mississippian well cost by 14% in 2012 to $3.1 million
  oReduced fourth quarter Mississippian lease operating expense by 43%
    year-over-year
  oNew percent of proceeds gathering arrangement captures NGL volumes in the
    Mississippian play
  oDrilled 60 disposal wells in 2012 bringing the total number of disposal
    wells to 113 and system capacity to 1.6 million barrels of water per day

Presentation slides to be viewed in conjunction with certain of the above
operational highlights are available on the company's website,
www.sandridgeenergy.com, under Investor Relations/Events.

Drilling and Operational Activities

SandRidge averaged 42 rigs operating during the fourth quarter of 2012 and
drilled 242 wells. The company drilled a total of 1,117 wells during 2012. A
total of 232 operated wells were completed and brought on production during
the fourth quarter of 2012, bringing the total number of operated wells
completed and brought on production during 2012 to 1,088 wells.

Mississippian Play. During the fourth quarter of 2012, SandRidge drilled 125
horizontal wells: 85 in Oklahoma and 40 in Kansas. This brings the total
horizontal wells drilled during 2012 to 396 wells. Additionally, SandRidge
drilled eight disposal wells in the fourth quarter for a total of 60 disposal
wells in 2012. To date, over 1,500 horizontal wells have been drilled in the
Mississippian play, including 682 drilled by SandRidge. The company exited the
year with 33 rigs operating in the play: 24 drilling horizontal wells in
Oklahoma, eight drilling horizontal wells in Kansas and one drilling disposal
wells.

Permian Basin. The company drilled 115 wells during the fourth quarter, which
brings the total wells drilled during 2012 to 717 wells. The company has
announced it has closed the sale of its Permian assets other than those
associated with SandRidge Permian Trust. The sold assets produced
approximately 23 MBoe per day during the fourth quarter.

Gulf of Mexico. During 2012, SandRidge drilled two wells and participated in
the drilling of four non-operated wells with three wells in progress at year
end for a total of nine wells in 2012. Additionally, SandRidge performed 21
recompletions and participated in 12 non-operated recompletions for total of
33 recompletions in 2012.

Proved Reserves

The company's estimated consolidated proved reserves as of December 31, 2012
were 566 MMBoe, representing a 37% increase (after adjustments for asset sales
and production) from December 31, 2011. During 2012, the company recognized
additional consolidated proved reserves of 265 MMBoe primarily as a result of
successful drilling in the Mississippian Play and the Permian Basin and from
acquisition of reserves in place from the Gulf of Mexico. This increase was
offset by 112 MMBoe of downward revisions, primarily in the Piñon Field as a
result of lower natural gas prices. Proved developed reserves constituted 57%
of total consolidated reserves as of December 31, 2012. Third party engineers
evaluated a combined 98% of the total consolidated proved PV-10 value as of
December 31, 2012.

The December 31, 2012 estimated future net cash flows from consolidated proved
reserves, discounted at an annual rate of 10%, before income taxes ("PV-10")
were $7.5 billion, an increase of 9% from December 31, 2011 and an increase of
43% after adjustments for asset sales and production. The weighted average
wellhead prices, which are based on index prices and adjusted for
transportation and regional price differentials, used to estimate the
company's consolidated proved reserves and future net revenues were $91.65 per
barrel and $2.29 per Mcf at December 31, 2012 compared to $85.77 per barrel
and $4.06 per Mcf at December 31, 2011.

Proved developed drilling finding costs and proved developed all-in finding
costs, which include drilling, land and seismic costs, were $21.68 and $24.02
per Boe, respectively, for the year ended December 31, 2012.

Analysis of Changes in Consolidated Proved Reserves

                    Oil^(1)        Net Gas        Net          PV-10
                                                  Reserves
                    (MBbls)        (MMcf)         (MBoe)       ($M)
Year-end            244,784        1,355,056      470,628      $6,875,872
2011^(2)(3)
Sales               (23,556)       (548)          (23,647)
Production          (17,962)       (93,549)       (33,553)
Purchases           32,153         202,995        65,986
Extensions          116,915        489,302        198,466
Revisions -
changes to          (18,536)       26,703         (14,085)
previous
estimates
Revisions -         (3,760)        (564,917)      (97,913)
price
Year-end            330,040        1,415,042      565,880      $7,488,444
2012^(2)(3)
Permian Sale        (160,836)      (228,229)      (198,874)    ($3,177,582)
Adjustments
Pro Forma           169,204        1,186,813      367,006      $4,310,862
Year-end 2012
^(1) Includes NGLs.
^(2) Includes approximately 38,230 MBoe and 26,350 MBoe attributable to
noncontrolling interests at December 31, 2012 and 2011, respectively.
^(3) Includes PV-10 attributable to noncontrolling interests of approximately
$955 million and $935 million at December 31, 2012 and 2011, respectively.

Operational and Financial Statistics

Information regarding the company's production, pricing, costs and earnings is
presented below:

                              Three Months Ended      Year Ended
                              December 31,            December 31,
                              2012         2011       2012       2011
Production
Oil (MBbl) ^(1)               5,037        3,290      17,962     11,830
Natural gas (MMcf)            28,717       16,866     93,549     69,306
Oil equivalent (MBoe)         9,823        6,101      33,553     23,381
Daily production (MBoed)      106.8        66.3       91.7       64.1
Average price per unit
Realized oil price per        $ 81.61     $ 84.74   $ 84.95   $ 83.21
barrel - as reported ^(1)
Realized impact of
derivatives per barrel        9.39         (5.46)     5.07       (6.80)
^(1)
Net realized price per        $ 91.00     $ 79.28   $ 90.02   $ 76.41
barrel ^(1)
Realized natural gas price    $  3.09    $         $         $ 
per Mcf - as reported                      2.99      2.49      3.50
Realized impact of            (0.30)       0.12       (0.03)     (0.23)
derivatives per Mcf
Net realized price per Mcf    $  2.79    $         $         $ 
                                           3.11      2.46      3.27
Realized price per Boe -      $ 50.89     $ 53.97   $ 52.43   $ 52.47
as reported
Net realized price per Boe
- including impact of         $ 54.81     $ 51.35   $ 55.05   $ 48.35
derivatives
Average cost per Boe
Lease operating              $ 13.67     $ 13.20   $ 14.22   $ 13.81
Production taxes              1.12         2.04       1.41       1.97
General and administrative
       General and
       administrative,
       excluding              7.45         4.93       5.93       4.70
       stock-based
       compensation ^(2)
       Stock-based            0.98         1.68       1.28       1.65
       compensation
Depletion ^(3)                18.83        14.72      17.79      13.97
Lease operating cost per
Boe
Mississippian                 $  7.65    $ 13.38   $         $ 10.65
                                                      8.81
Permian Basin                 10.86        11.30      11.40      12.81
Offshore                      21.51        33.88      21.87      38.30
Earnings per share
(Loss) earningsper share
applicable to common
stockholders
       Basic                  $           $         $         $ 
                              (0.63)       (0.97)     0.19      0.13
       Diluted                (0.63)       (0.97)     0.19       0.13
Adjusted net income (loss)
per share available
(applicable) to common
stockholders
       Basic                  $  0.04    $         $         $ 
                                           (0.01)     0.15      (0.12)
       Diluted                0.06         0.02       0.23       0.01
Weighted average number of
common shares outstanding
(in thousands)
       Basic                  476,241      399,430    453,595    398,851
       Diluted ^(4)           566,664      497,833    546,148    496,779
^(1)   Includes NGLs.
       Includes transaction costs, one-time fees for legal settlement and
       consent solicitation costs totaling $27.8 million and $43.0
^(2)   million for the three-month period and year ended December 31,
       2012, respectively. Includes transaction costs of $0.8 million and
       $5.4 million for the three-month period and year ended December
       31, 2011, respectively.
^(3)   Includes accretion of asset retirement obligation.
^(4)   Includes shares considered antidilutive for calculating earnings per
       share in accordance with GAAP for certain periods presented.

Discussion of 2012 Financial Results

Fourth Quarter

Oil and natural gas revenue increased 52% to $500 million in the fourth
quarter of 2012 from $329 million in the same period of 2011 as a result of
increases in oil and natural gas production. Oil production increased 53% to
5.0 MMBbls from fourth quarter 2011 production of 3.3 MMBbls and natural gas
production increased 70% to 28.7 Bcf from fourth quarter 2011 production of
16.9 Bcf. Production increases were attributable to continued development of
the company's properties in the Mississippian play and production contributed
by properties acquired in the second quarter of 2012. Realized reported
prices, which exclude the impact of derivative settlements, were $81.61 per
barrel and $3.09 per Mcf during the fourth quarter of 2012. Realized reported
prices in the same period of 2011 were $84.74 per barrel and $2.99 per Mcf.

Fourth quarter 2012 production expense was $13.67 per Boe compared to fourth
quarter 2011 production expense of $13.20 per Boe. The increase was primarily
due to the additional costs related to offshore properties acquired during the
second quarter of 2012 and an accrual of $8.5 million at December 31, 2012
related to the company's shortfall in meeting its 2012 CO[2 ]delivery
requirement. In SandRidge's primary onshore operations, production expense
continued to decrease as a result of improving efficiencies. In the company's
Mississippian play, fourth quarter production expense decreased 43%
year-over-year from $13.38 to $7.65 per Boe.

Depletion per unit in the fourth quarter of 2012 was $18.83 per Boe compared
to $14.72 per Boe in the same period of 2011. The increase in rate per unit
primarily resulted from the addition of offshore properties acquired during
the second quarter of 2012 to the company's depletable asset base and, to a
lesser extent, from non-core asset sales in the first half of 2012 and the
fourth quarter of 2011.

Impairments of non-oil and gas assets totaling $315 million were recorded in
the fourth quarter of 2012. Upon completion of the Century Plant in Pecos
County, Texas in the fourth quarter of 2012, the company determined that
future use of its legacy gas treating plants and CO[2] compression facilities
in the Piñon Field area of west Texas will be limited and, accordingly,
recorded a $79 million impairment of those assets. Additionally, upon the
company's entry during the fourth quarter of 2012 into an agreement to sell
its Permian Properties, the company evaluated its goodwill for impairment and
determined its carrying value of approximately $236 million to be fully
impaired.

Full Year

Oil and natural gas revenue increased 43% to $1,759 million in 2012 from
$1,227 million in 2011 as a result of increases in oil and natural gas
production. Oil production increased 52% to 18.0 MMBbls from 2011 production
of 11.8 MMBbls and natural gas production increased 35% to 93.5 Bcf from 2011
production of 69.3 Bcf. Production increases were attributable to continued
development of the company's properties in the Mississippian play and
production contributed by properties acquired in the second quarter of 2012.
Realized reported prices, which exclude the impact of derivative settlements,
were $84.95 per barrel and $2.49 per Mcf during 2012. Realized reported prices
in 2011 were $83.21 per barrel and $3.50 per Mcf.

Production expense for 2012 was $14.22 per Boe compared to 2011 production
expense of $13.81 per Boe. The increase was primarily due to the additional
costs related to offshore properties acquired during the second quarter of
2012. In the company's Mississippian play, 2012 production expense decreased
17% year-over-year from $10.65 to $8.81 per Boe.

Depletion per unit in 2012 was $17.79 per Boe compared to $13.97 per Boe in
2011. The increase in rate per unit primarily resulted from the addition of
offshore properties acquired during the second quarter of 2012 to the
company's depletable asset base and, to a lesser extent, from non-core asset
sales in the first half of 2012 and the fourth quarter of 2011.

Capital Expenditures

The table below summarizes the company's capital expenditures for the three
and twelve-month periods ended December 31, 2012 and 2011 (in thousands):

                                Three Months Ended    Year Ended
                                December 31,          December 31,
                                2012        2011      2012         2011
Drilling and production
       Mid-Continent            $251,108    $173,452  $  927,186  $  620,647
       Permian Basin            120,667     180,506   645,045      692,193
       Gulf of Mexico           64,801      526       155,249      906
       WTO/Tertiary/Other       1,901       15,435    36,579       51,950
                                438,477     369,919   1,764,059    1,365,696
Leasehold and seismic
       Mid-Continent            10,024      74,349    156,961      307,169
       Permian Basin            2,555       2,891     15,463       31,977
       Gulf of Mexico           2,135       -         14,861       112
       WTO/Tertiary/Other       1,094       1,211     3,543        8,710
                                15,808      78,451    190,828      347,968
Pipe inventory ^(1)             4,060       1,031     (3,941)      (16,329)
Total exploration and           458,345     449,401   1,950,946    1,697,335
development ^(2)
Drilling and oil field          302         4,983     27,527       25,674
services
Midstream                       18,454      23,123    80,413       38,514
Other - general                23,688      16,800    115,096      54,971
Total capital expenditures,     500,789     494,307   2,173,982    1,816,494
excluding acquisitions
Acquisitions ^(3)               (13,758)    11,877    840,740      34,628
Total capital expenditures      $487,031    $506,184  $3,014,722   $1,851,122
Plugging and abandonment        $ 19,728   $        $          $  
                                            5,328    84,361       16,531
       Pipe inventory expenditures for the years ended December 31, 2012 and
^(1)   2011 represent transfers of pipe inventory to the full cost pool for
       use in drilling and production activities.
       Exploration and development expenditures for the three months ended
       December 31, 2012 and 2011 exclude $40.0 million and $6.0 million,
^(2)   respectively, of estimated loss on Century Plant construction contract.
       Exploration and development expenditures for the years ended December
       31, 2012 and 2011 exclude $50.0 million and $25.0 million,
       respectively, of estimated loss on Century Plant construction contract.
       Acquisitions for the three months and year ended December 31, 2012
       reflects $15.4 million and $16.3 million, respectively, received from
^(3)   Atinum and Repsol to participate in acquisitions. Acquisition
       expenditures for the year ended December 31, 2012 exclude common stock
       valued at approximately $542.1 million issued in connection with and
       tax liability adjustments resulting from the Dynamic acquisition.

Derivative Contracts

The tables below set forth the company's consolidated oil and natural gas
price and basis swaps and collars for the years 2013 through 2015 as of
February 26, 2013 and include contracts that have been novated to, or the
benefits of which have been conveyed to, SandRidge sponsored royalty trusts.

                         Quarter Ending
                         3/31/2013   6/30/2013   9/30/2013   12/31/2013
Oil (MMBbls):
 Swap Volume             4.53        3.44        3.36        3.34
  Swap                 $97.56      $98.84      $98.62      $98.46
 Collar Volume           0.04        0.04        0.04        0.04
  Collar: High        $102.50     $102.50     $102.50     $102.50
  Collar: Low         $80.00      $80.00      $80.00      $80.00
 LLS Basis Volume        0.27        0.27        -           -
  Swap                  $15.16      $12.51      -           -
Natural Gas (Bcf):
 Collar Volume           1.71        1.71        1.72        1.72
  Collar: High        $6.71       $6.71       $6.71       $6.71
  Collar: Low         $3.78       $3.78       $3.78       $3.78
                         Year Ending
                         12/31/2013  12/31/2014  12/31/2015
Oil (MMBbls):
 Swap Volume             14.67       7.51        5.08
  Swap                 $98.31      $92.43      $83.69
 Collar Volume           0.17        -           -
  Collar: High        $102.50     -           -
  Collar: Low         $80.00      -           -
 Three-way Collar Volume -           8.21        2.92
  Call Price          -           100.00      $103.13
  Put Price           -           90.20       $90.82
  Short Put Price     -           70.00       $73.13
 LLS Basis Volume        0.54        -           -
  Swap                 $13.83      -           -
Natural Gas (Bcf):
 Collar Volume           6.86        0.94        1.01
  Collar: High        $6.71       $7.78       $8.55
  Collar: Low         $3.78       $4.00       $4.00



Balance Sheet

The company's capital structure at December 31, 2012 and December 31, 2011 is
presented below (in thousands):

                                    December 31,          December 31,
                                    2012                   2011
Cash and cash equivalents           $      309,766    $      207,681
Current maturities of long-term     $            $       
debt                                 -                    1,051
Long-term debt (net of current
maturities)
 Senior credit facility             -                      -
 Mortgage                           -                      14,978
 Senior Notes
  Senior Floating Rate Notes due    -                      350,000
  2014
  9.875% Senior Notes due 2016,     356,657                354,579
  net
  8.0% Senior Notes due 2018        750,000                750,000
  8.75% Senior Notes due 2020, net  444,127                443,568
  7.5% Senior Notes due 2021        1,179,328              900,000
  8.125% Senior Notes due 2022      750,000                -
  7.5% Senior Notes due 2023, net   820,971                -
   Total debt                     4,301,083              2,814,176
Stockholders' equity
 Preferred stock                    8                      8
 Common stock                       476                    399
 Additional paid-in capital         5,228,019              4,568,856
 Treasury stock, at cost            (8,602)                (6,158)
 Accumulated deficit                (2,851,048)            (2,937,094)
  Total SandRidge Energy, Inc.      2,368,853              1,626,011
  stockholders' equity
 Noncontrolling interest            1,493,602              922,939
Total capitalization                $    8,163,538     $    5,363,126



During the fourth quarter of 2012, the company's debt, net of cash balances,
increased by approximately $365 million and for the full year 2012, increased
by approximately $1.4 billion. This increase is a result of funding the
company's drilling program and the cash portion of the Dynamic acquisition. On
February 26, 2013, the company had no amount drawn under its $775 million
senior credit facility and, due to the closing of the Permian sale,
approximately $2.7 billion of cash. The company was in compliance with all
applicable covenants contained in its debt agreements during 2012 and through
and as of the date of this release.

The company has begun a process to redeem all of its outstanding 9.875% Senior
Notes due 2016, with an aggregate principal amount outstanding of $365.5
million, and all of its 8% Senior Notes due 2018, with an aggregate principal
amount outstanding of $750 million. The redemptions, which are being funded
with a portion of the proceeds from the sale of the Permian assets, are
expected to close on March 28, 2013.

2013 Operational Guidance: The company is updating its guidance for 2013.

                                           Year Ending
                                           December 31, 2013
                                           Previous          Updated
                                           Projection as of  Projection as of
                                           November 8, 2012  February 28, 2013
Production
      Oil (MMBbls) ^(1)                   19.5              15.9
      Natural Gas (Bcf)                    118.2             110.4
      Total (MMBoe)                        39.2              34.3
Differentials
      Oil ^(1)                            $8.00             $8.50
      Natural Gas                          $0.40             $0.45
Costs per Boe
      Lifting                             $14.50 - $16.50   $14.50 - $16.50
      Production Taxes                     1.35 - 1.55       1.00 - 1.20
      DD&A - oil & gas                     18.00 - 19.80     16.50 - 18.30
      DD&A - other                         1.80 - 2.00       1.80 - 2.00
      Total DD&A                           $19.80 - $21.80   $18.30 - $20.30
      G&A - cash                           4.00 - 4.45       4.00 - 4.45
      G&A - stock                          1.20 - 1.35       1.35 - 1.50
      Total G&A                            $5.20 - $5.80     $5.35 - $5.95
      Interest Expense                     $9.10 - $10.10    $8.10 - $9.10
EBITDA from Oilfield Services, Midstream   $55               $30
and Other ($ in millions) ^(2)
Adjusted Net Income Attributable to
Noncontrolling Interest ($ in millions)    $170              $150
^(3)
P&A Cash Cost ($ in millions)              $120              $120
Corporate Tax Rate ^(4)                    0%                0%
Deferral Rate                              0%                0%
Shares Outstanding at End of Period (in
millions)
      Common Stock                         498               498
      Preferred Stock (as converted)       90                90
      Fully Diluted                        588               588
Capital Expenditures ($ in millions)
      Exploration and Production           $1,450            $1,450
      Land and Seismic                     100               100
      Total Exploration and Production     $1,550            $1,550
      Oil Field Services                   30                30
      Midstream and Other                  170               170
      Total Capital Expenditures           $1,750            $1,750
      (excluding acquisitions)

^(1)  Includes NGLs.
      EBITDA from Oilfield Services, Midstream and Other is a non-GAAP
      financial measure as it excludes from net income interest expense,
      income tax expense and depreciation, depletion and amortization. The
      most directly comparable GAAP measure for EBITDA from Oilfield Services,
^(2)  Midstream and Other is Net Income from Oilfield Services, Midstream and
      Other. Information to reconcile this non-GAAP financial measure to the
      most directly comparable GAAP financial measure is not available at this
      time, as management is unable to forecast the excluded items for future
      periods and/or does not forecast the excluded items on a segment basis.
      Adjusted Net Income Attributable to Noncontrolling Interest is a
      non-GAAP financial measure as it excludes unrealized gain or loss on
      derivative contracts and gain or loss on sale of assets. The most
      directly comparable GAAP measure for Adjusted Net Income Attributable to
^(3) Noncontrolling Interest is Net Income Attributable to Noncontrolling
      Interest. Information to reconcile this non-GAAP financial measure to
      the most directly comparable GAAP financial measure is not available at
      this time, as management is unable to forecast the excluded items for
      future periods.
      As a result of the Permian divestiture, the company expects to incur
^(4)  cash income taxes of approximately $15 million in 2013 with a
      corresponding expense included in Net Income.

2013 Guidance Update: The updated guidance gives effect to the Permian
divestiture, which closed on February 26, 2013. SandRidge estimates production
of approximately 34.3 MMBoe and capital expenditures of $1.75 billion in 2013.
A majority of SandRidge's planned capital expenditures will go to funding its
Mississippian program, where the company plans to drill approximately 580
horizontal producers and 74 disposal wells in 2013. The remaining 2013
drilling capital will be used to maintain production levels in the company's
offshore properties and to drill approximately 220 wells associated with the
SandRidge Permian Trust development program.

Non-GAAP Financial Measures

Operating cash flow, adjusted EBITDA, adjusted net income available (loss
applicable) to common stockholders, adjusted net income attributable to
noncontrolling interest and PV-10 are non-GAAP financial measures.

The company defines operating cash flow as net cash provided by operating
activities before changes in operating assets and liabilities and adjusted for
cash received (paid) on financing derivatives. It defines EBITDA as net (loss)
income before income tax expense (benefit), interest expense and depreciation,
depletion and amortization and accretion of asset retirement obligations.
Adjusted EBITDA, as presented herein, is EBITDA excluding interest income,
realized gains on early settlements of derivative contracts, non-cash realized
losses on amended derivative contracts, non-cash realized losses on financing
derivative contracts, (gain) loss on sale of assets, transaction costs, legal
settlements, consent solicitation fees, bargain purchase gain, loss on
extinguishment of debt and other various non-cash items (including non-cash
portion of noncontrolling interest, stock-based compensation, unrealized
losses (gains) on derivative contracts, provision for doubtful accounts, asset
impairment and inventory obsolescence).

Operating cash flow and adjusted EBITDA are supplemental financial measures
used by the company's management and by securities analysts, investors,
lenders, rating agencies and others who follow the industry as an indicator of
the company's ability to internally fund exploration and development
activities and to service or incur additional debt. The company also uses
these measures because operating cash flow and adjusted EBITDA relate to the
timing of cash receipts and disbursements that the company may not control and
may not relate to the period in which the operating activities occurred.
Further, operating cash flow and adjusted EBITDA allow the company to compare
its operating performance and return on capital with those of other companies
without regard to financing methods and capital structure. These measures
should not be considered in isolation or as a substitute for net cash provided
by operating activities prepared in accordance with generally accepted
accounting principles ("GAAP"). Adjusted EBITDA should not be considered as a
substitute for net income, operating income, cash flows from operating
activities or any other measure of financial performance or liquidity
presented in accordance with GAAP. Adjusted EBITDA excludes some, but not all,
items that affect net income and operating income and these measures may vary
among other companies. Therefore, the company's adjusted EBITDA may not be
comparable to similarly titled measures used by other companies.

Management also uses the supplemental financial measure of adjusted net income
available (loss applicable) to common stockholders, which excludes unrealized
losses (gains) on derivative contracts, realized gains on early settlements of
derivative contracts, bargain purchase gain, tax benefit resulting from
acquisition, financing commitment fees, non-cash realized losses on financing
derivative contracts, transaction costs, legal settlements, consent
solicitation fees, loss on extinguishment of debt, non-cash realized losses on
amended derivative contracts and (gain) loss on sale of assets from (loss
applicable) income available to common stockholders. Management uses this
financial measure as an indicator of the company's operational trends and
performance relative to other oil and natural gas companies and believes it is
more comparable to earnings estimates provided by securities analysts.
Adjusted net income available (loss applicable) to common stockholders is not
a measure of financial performance under GAAP and should not be considered a
substitute for (loss applicable) income available to common stockholders.

The supplemental measure of adjusted net income attributable to noncontrolling
interest is used by the company's management to measure the impact on the
company's financial results of the ownership by third parties of interests in
the company's less than wholly-owned consolidated subsidiaries. Adjusted net
income attributable to noncontrolling interest excludes the portion of
unrealized loss (gain) on commodity derivative contracts and asset impairment
attributable to third party ownership in less than wholly-owned consolidated
subsidiaries from net (loss) income attributable to noncontrolling interest.
Adjusted net income attributable to noncontrolling interest is not a measure
of financial performance under GAAP and should not be considered a substitute
for net income attributable to noncontrolling interest.

PV-10 represents the present value of estimated future cash inflows from
proved oil and natural gas reserves, less future development and production
costs, discounted at 10% per annum to reflect timing of future cash flows and
using 12-month average prices. PV-10 differs from Standardized Measure, the
most directly comparable GAAP measure, because it does not include the effects
of income taxes on future net revenues. Management uses PV-10 as an arbitrary
reserve asset value measure to compare against past reserve bases and the
reserve bases of other business entities that are not dependent on the
tax-paying status of the entity.

The tables below reconcile the most directly comparable GAAP financial
measures to operating cash flow, EBITDA and adjusted EBITDA, adjusted net
income available (loss applicable) to common stockholders, adjusted net income
attributable to noncontrolling interest and PV-10.



Reconciliation of Net Cash Provided by Operating Activities to Operating Cash
Flow
                                        Three Months Ended  Year Ended
                                        December 31,        December 31,
                                        2012      2011      2012      2011
                                        (in thousands)
Net cash provided by operating          $198,930  $137,331  $783,160  $458,954
activities
Add (deduct)
  Cash received (paid) on financing     4,185     1,267     (34,518)  6,538
  derivatives
  Changes in operating assets and       56,198    15,368    166,100   76,367
  liabilities
Operating cash flow                     $259,313  $153,966  $914,742  $541,859



Reconciliation of Net (Loss) Income to EBITDA and Adjusted EBITDA
                          Three Months Ended          Year Ended
                          December 31,                December 31,
                          2012          2011          2012           2011
                          (in thousands)
Net (loss) income         $(287,904)    $(374,716)    $  141,571    $108,065
Adjusted for
     Income tax expense   12            196           (100,362)      (5,817)
     (benefit)
     Interest expense     88,793        60,274        312,869        243,818
     ^(1)
     Depreciation and
     amortization -       15,729        13,712        60,805         53,630
     other
     Depreciation and
     depletion - oil      175,577       87,487        568,029        317,246
     and natural gas
     Accretion of asset
     retirement           9,371         2,329         28,996         9,368
     obligations
EBITDA                    1,578         (210,718)     1,011,908      726,310
     Asset impairment     314,723       2,825         316,004        2,825
     Provision for        850           889           1,735          2,511
     doubtful accounts
     Inventory            46            (105)         174            40
     obsolescence
     Interest income      (450)         (146)         (1,466)        (240)
     Stock-based          8,982         9,528         39,682         36,017
     compensation
     Unrealized losses
     (gains) on           16,950        426,132       (217,755)      (101,034)
     derivative
     contracts
     Realized gains on
     early settlements    -             -             (59,338)       (45,627)
     of derivative
     contracts
     Non-cash realized
     losses on amended    -             -             117,108        -
     derivative
     contracts
     Non-cash realized
     losses on
     financing            3,974         1,277         10,840         6,443
     derivative
     contracts
     Other non-cash       (625)         (2,672)       (3,821)        (2,012)
     (income) expense
     (Gain) loss on       (666)         (896)         3,089          (2,044)
     sale of assets
     Transaction costs    369           823           15,645         5,354
     Legal settlements    25,000        -             25,000         -
     Consent              2,420         -             2,420          -
     solicitation fees
     Bargain purchase     -             -             (122,696)      -
     gain
     Loss on
     extinguishment of    19            -             3,075          38,232
     debt
     Non-cash portion
     of noncontrolling    (54,955)      (52,183)      (71,647)       (13,167)
     interest ^(2)
Adjusted EBITDA           $ 318,215     $ 174,754     $1,069,957     $653,608
     Excludes unrealized gains on interest rate swaps of $2.4 million and $2.9
^(1) million for the three-month periods ended December 31, 2012 and 2011, and
     $8.1 million and $6.2 million for the years ended December 31, 2012 and
     2011, respectively.
     Represents depreciation and depletion, impairment on goodwill and certain
^(2) Midstream assets, unrealized (gains) losses on commodity derivative
     contracts and income tax expense attributable to noncontrolling
     interests.





Reconciliation of Net Cash Provided by Operating Activities to Adjusted EBITDA
                                     Three Months Ended  Year Ended
                                     December 31,        December 31,
                                     2012      2011      2012         2011
                                     (in thousands)
Net cash provided by operating       $198,930  $137,331  $  783,160  $458,954
activities
Changes in operating assets and      56,198    15,368    166,100      76,367
liabilities
Interest expense ^(1)                88,793    60,274    312,869      243,818
Realized gains on early settlements
of non-financing derivative          -         -         (33,165)     (45,627)
contracts
Transaction costs                    369       823       15,645       5,354
Legal settlements                    25,000    -         25,000       -
Consent solicitation fees            2,420     -         2,420        -
Noncontrolling interest - SDT ^(2)   (13,416)  (14,793)  (54,590)     (41,165)
Noncontrolling interest - SDR ^(2)   (16,348)  -         (45,755)     -
Noncontrolling interest - PER ^(2)   (18,667)  (17,728)  (76,564)     (26,078)
Noncontrolling interest - Other      103       69        263          (248)
^(2)
Other non-cash items                 (5,167)   (6,590)   (25,426)     (17,767)
Adjusted EBITDA                      $318,215  $174,754  $1,069,957   $653,608

     Excludes unrealized gains on interest rate swaps of $2.4 million and $2.9
^(1) million for the three-month periods ended December 31, 2012 and 2011, and
     $8.1 million and $6.2 million for the years ended December 31, 2012 and
     2011, respectively.
     Excludes depreciation and depletion, impairment on goodwill and certain
^(2) Midstream assets, unrealized (gains) losses on commodity derivative
     contracts and income tax expense attributable to noncontrolling
     interests.



Reconciliation of (Loss Applicable) Income Available to Common Stockholders to
Adjusted Net Income Available (Loss Applicable) to Common Stockholders
                             Three Months Ended          Year Ended
                             December 31,                December 31,
                             2012          2011          2012        2011
                             (in thousands)
(Loss applicable) income
available to common          $(301,785)    $(388,597)    $ 86,046   $52,482
stockholders
Tax benefit resulting        -             (2,152)       (100,288)   (8,399)
from acquisition
Asset impairment ^(1)        278,385       2,825         279,666     2,825
Unrealized losses (gains)
on derivative contracts      14,141        381,328       (199,764)   (98,178)
^(2)
Realized gains on early
settlements of derivative    -             -             (59,338)    (45,627)
contracts
Non-cash realized losses
on amended derivative        -             -             117,108     -
contracts
Non-cash realized losses
on financing derivative      3,974         1,277         10,840      6,443
contracts
(Gain) losson sale of       (666)         (896)         3,089       (2,044)
assets
Transaction costs            369           823           15,645      5,354
Legal settlements            25,000        -             25,000      -
Consent solicitation fees    2,420         -             2,420       -
Financing commitment fees    -             -             10,875      -
Bargain purchase gain        -             -             (122,696)   -
Loss on extinguishment of    19            -             3,075       38,232
debt
Other non-cash income        (464)         -             (2,907)     -
Effect of income taxes       13            202           42          255
Adjusted net income                        
available (loss              21,406                      68,813      (48,657)
applicable) to common                      (5,190)
stockholders
Preferred stock dividends    13,881        13,881        55,525      55,583
Total adjusted net income    $  35,287    $   8,691   $124,338    $ 6,926
Weighted average number
of common shares
outstanding
        Basic                476,241       399,430       453,595     398,851
        Diluted ^(3)         566,664       497,833       546,148     496,779
Total adjusted net income
(loss)
        Per share - basic    $   0.04   $   (0.01)  $   0.15  $ 
                                                                     (0.12)
        Per share -          $   0.06   $   0.02   $   0.23  $  0.01
        diluted
^(1)    Excludes asset impairment attributable to noncontrolling interests.
^(2)    Excludes unrealized (gains) losses on commodity derivative contracts
        attributable to noncontrolling interests.
        Weighted average fully diluted common shares outstanding for certain
^(3)    periods presented includes shares that are considered antidilutive for
        calculating earnings per share in accordance with GAAP.



Reconciliation of Net (Loss) Income Attributable to Noncontrolling Interest to
Adjusted Net Income Attributable to Noncontrolling Interest
                              Three Months Ended        Year Ended December
                              December 31,              31,
                              2012         2011         2012          2011
                              (in thousands)
Net (loss) income
attributable to               $ (6,627)    $(19,732)    $104,999      $54,324
noncontrolling interest
Asset impairment              36,338       -            36,338        -
Unrealized loss (gain) on
commodity derivative          2,809        44,804       (17,991)      (2,856)
contracts
    Adjusted net income
    attributable to           $32,520      $ 25,072     $123,346      $51,468
    noncontrolling interest





Reconciliation of Standardized Measure of Discounted Net Cash Flows to PV-10
                                                                December 31,
                                                                2012    2011
                                                                (in millions)
Standardized measure of discounted net cash flows ^(1)          $5,840  $5,216
Present value of future net income tax expense discounted at    1,648   1,660
10%
PV-10 ^(2)                                                      $7,488  $6,876

     Includes approximately $953 million and $933 million attributable to
^(1) SandRidge noncontrolling interests at December 31, 2012 and 2011,
     respectively.
     Includes approximately $955 million and $935 million attributable to
^(2) SandRidge noncontrolling interests at December 31, 2012 and 2011,
     respectively.

Conference Call Information

The company will host a conference call to discuss these results on Friday,
March 1, 2013 at 8:00 am CST. The telephone number to access the conference
call from within the U.S. is 800-599-9816 and from outside the U.S. is
617-847-8705. The passcode for the call is 74704936. An audio replay of the
call will be available from March 1, 2013 until 11:59pm CST on March 31, 2013.
The number to access the conference call replay from within the U.S. is
888-286-8010 and from outside the U.S. is 617-801-6888. The passcode for the
replay is 97467861.

A live audio webcast of the conference call will also be available via
SandRidge's website, www.sandridgeenergy.com, under Investor Relations/Events.
The webcast will be archived for replay on the company's website for 30 days.

6^th Annual Investor/Analyst Meeting

  oMarch 5, 2013 (Tuesday), 8:00 am EST, at the Mandarin Oriental New York,
    80 Columbus Circle (at 60^th Street)

Conference Participation

SandRidge Energy, Inc. will participate in the following upcoming events:

  oMarch 18, 2013 – Howard Weil 41st Annual Energy Conference; New Orleans,
    LA
  oApril 15, 2013 – IPAA 2013 OGIS; New York, NY

At 8:00 am Central Time on the day of each presentation, the corresponding
slides and any webcast information will be accessible on the Investor
Relations portion of the company's websiteat www.sandridgeenergy.com. Please
check the website for updates regularly as this schedule is subject to change.
Also, please note that SandRidge Energy, Inc. intends for its website to be
used as a reliable source of information for all future events in which it may
participate as well as updated presentations regarding the company. Slides and
webcasts (where applicable) will be archived and available for at least 30
days after each use or presentation.

First Quarter 2013 Earnings Release and Conference Call

May 7, 2013 (Tuesday) – Earnings press release after market close
May 8, 2013 (Wednesday) – Earnings conference call at 8:00 am CST



SandRidge Energy, Inc. and Subsidiaries

Consolidated Statements of Operations

(in thousands, except per share data)


                            Three Months Ended        Years Ended
                            December 31,              December 31,
                            2012         2011         2012         2011
                            (Unaudited)
Revenues
 Oil and natural gas        $ 499,907    $ 329,288   $ 1,759,282  $ 1,226,794
 Drilling and services      25,932       28,180       116,633      103,298
 Midstream and marketing    12,620       13,027       40,486       66,690
 Century Plant              796,323      -            796,323      -
 construction
 Other                      3,316        3,343        18,241       18,431
   Total revenues           1,338,098    373,838      2,730,965    1,415,213
Expenses
 Production                 134,330      80,506       477,154      322,877
 Production taxes           10,988       12,459       47,210       46,069
 Drilling and services      15,759       16,346       68,227       65,654
 Midstream and marketing    12,482       13,227       39,669       66,007
 Century Plant              796,323      -            796,323      -
 construction costs
 Depreciation and depletion 175,577      87,487       568,029      317,246
 - oil and natural gas
 Depreciation and           15,729       13,712       60,805       53,630
 amortization - other
 Accretion of asset         9,371        2,329        28,996       9,368
 retirement obligations
 Impairment                 314,723      2,825        316,004      2,825
 General and administrative 82,884       40,279       241,682      148,643
 (Gain) loss on derivative  (19,712)     445,021      (241,419)    (44,075)
 contracts
 (Gain) loss on sale of     (666)        (896)        3,089        (2,044)
 assets
   Total expenses           1,547,788    713,295      2,405,769    986,200
   (Loss) incomefrom       (209,690)    (339,457)    325,196      429,013
   operations
Other income (expense)
 Interest expense           (85,921)     (57,255)     (303,349)    (237,332)
 Bargain purchase gain      -            -            122,696      -
 Loss on extinguishment of  (19)         -            (3,075)      (38,232)
 debt
 Other income, net          1,112        2,460        4,741        3,122
   Total other expense      (84,828)     (54,795)     (178,987)    (272,442)
(Loss) income before income (294,518)    (394,252)    146,209      156,571
taxes
Income tax expense          12           196          (100,362)    (5,817)
(benefit)
Net (loss) income           (294,530)    (394,448)    246,571      162,388
 Less: net (loss) income
 attributable to            (6,626)      (19,732)     105,000      54,323
 noncontrolling interest
Net (loss) income
attributable to SandRidge   (287,904)    (374,716)    141,571      108,065
Energy, Inc.
Preferred stock dividends  13,881       13,881       55,525       55,583
   (Loss applicable)
   income available to
   SandRidge Energy, Inc.
   common stockholders      $ (301,785)  $ (388,597)  $  86,046  $  52,482
(Loss) earnings per share
 Basic                      $         $         $         $   
                            (0.63)       (0.97)       0.19        0.13
 Diluted                    $         $         $         $   
                            (0.63)       (0.97)       0.19        0.13
Weighted average number of
common shares outstanding
 Basic                      476,179      399,430      453,595      398,851
 Diluted                    476,179      399,430      456,015      406,645



SandRidge Energy, Inc. and Subsidiaries

Consolidated Balance Sheets

(in thousands, except per share data)


                                                   December 31,
                                                   2012           2011
ASSETS
Current assets
Cash and cash equivalents                          $  309,766    $  207,681
Accounts receivable, net                           445,506        206,336
Derivative contracts                               71,022         4,066
Inventories                                        3,618          6,903
Costs in excess of billings                        11,229         -
Prepaid expenses                                   31,319         14,099
Restricted deposit                                 255,000        -
Other current assets                               15,425         2,755
          Total current assets                     1,142,885      441,840
Oil and natural gas properties, using full cost
method of accounting
 Proved (includes development and project costs
 excluded from amortization of $72.4 million and
 $231.3 million at December 31, 2012 and 2011,     12,262,921     8,969,296
 respectively)
 Unproved                                          865,863        689,393
 Less: accumulated depreciation, depletion and     (5,231,182)    (4,791,534)
 impairment
                                                   7,897,602      4,867,155
Other property, plant and equipment, net           582,375        522,269
Restricted deposits                                27,947         27,912
Derivative contracts                               23,617         26,415
Goodwill                                           -              235,396
Other assets                                       116,305        98,622
          Total assets                             $9,790,731     $6,219,609
LIABILITIES AND EQUITY
Current liabilities
Current maturities of long-term debt               $      -  $   1,051
Accounts payable and accrued expenses              766,544        506,784
Billings and estimated contract loss in excess     15,546         43,320
of costs incurred
Derivative contracts                               14,860         115,435
Asset retirement obligations                       118,504        32,906
Deposit on pending sale                           255,000        -
          Total current liabilities                1,170,454      699,496
Long-term debt                                     4,301,083      2,813,125
Derivative contracts                               59,787         49,695
Asset retirement obligations                       379,906        95,210
Other long-term obligations                        17,046         13,133
          Total liabilities                        5,928,276      3,670,659
Commitments and contingencies
Equity
SandRidge Energy, Inc. stockholders' equity
Preferred stock, $0.001 par value, 50,000 shares
authorized
 8.5% Convertible perpetual preferred stock;
 2,650 shares issued and outstanding at December   3              3
 31, 2012 and December 31, 2011; aggregate
 liquidation preference of $265,000
 6.0% Convertible perpetual preferred stock;
 2,000 shares issued and outstanding at December   2              2
 31,2012 and December 31, 2011; aggregate
 liquidation preference of $200,000
 7.0% Convertible perpetual preferred stock;
 3,000 shares issued and outstanding at December   3              3
 31,2012 and December 31, 2011; aggregate
 liquidation preference of $300,000
 Common stock, $0.001 par value, 800,000 shares
 authorized; 491,578 issued and 490,359
 outstanding atDecember 31, 2012 and 412,827     476            399
 issued and 411,953 outstanding at December 31,
 2011
Additional paid-in capital                         5,233,019      4,568,856
Additional paid-in capital - stockholder           (5,000)        -
receivable
Treasury stock, at cost                            (8,602)        (6,158)
Accumulated deficit                                (2,851,048)    (2,937,094)
          Total SandRidge Energy, Inc.             2,368,853      1,626,011
          stockholders' equity
Noncontrolling interest                            1,493,602      922,939
          Total equity                             3,862,455      2,548,950
          Total liabilities and equity             $9,790,731     $6,219,609



SandRidge Energy, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(in thousands)


                                                Years Ended December 31,
                                                2012          2011
CASH FLOWS FROM OPERATING ACTIVITIES
 Net income                                     $ 246,571    $ 162,388
 Adjustments to reconcile net income to net
 cash provided by operating activities
    Provision for doubtful accounts             1,735         2,511
    Depreciation, depletion and amortization    628,834       370,876
    Accretion of asset retirement obligations   28,996        9,368
    Impairment                                  316,004       2,825
    Debt issuance costs amortization            14,388        11,372
    Amortization of discount, net of premium,   2,592         2,383
    on long-term debt
    Bargain purchase gain                       (122,696)     -
    Loss on extinguishment of debt              3,075         38,232
    Deferred income taxes                       (100,288)     (6,986)
    Unrealized gain on derivative contracts     (217,755)     (101,034)
    Realized loss on amended derivative         117,108       -
    contracts
    Realized (gain) loss on financing           (13,651)      6,591
    derivative contracts
    Loss (gain) on sale of assets               3,089         (2,044)
    Stock-based compensation                    42,795        38,684
    Other                                       (1,537)       155
    Changes in operating assets and liabilities
    increasing (decreasing) cash
        Receivables                             (141,534)     (61,645)
        Inventories                             3,111         (2,998)
        Billings and estimated contract loss in (89,003)      (11,013)
        excess of costs incurred, net
        Other current assets                    (10,649)      71
        Other assets and liabilities, net       34,447        (35,773)
        Asset retirement obligations            (84,361)      (16,531)
        Accounts payable and accrued expenses   121,889       51,522
         Net cash provided by operating      783,160       458,954
        activities
CASH FLOWS FROM INVESTING ACTIVITIES
 Capital expenditures for property, plant and   (2,146,372)   (1,727,106)
 equipment
 Acquisitions of assets                         (840,740)     (34,628)
 Proceeds from sale of assets                   431,167       859,405
         Net cash used in investing          (2,555,945)   (902,329)
        activities
CASH FLOWS FROM FINANCING ACTIVITIES
 Proceeds from borrowings                       1,850,344     2,033,000
 Repayments of borrowings                       (366,029)     (2,130,293)
 Premium on debt redemption                     (844)         (30,338)
 Debt issuance costs                            (48,538)      (20,326)
 Proceeds from issuance of royalty trust units  587,086       917,528
 Proceeds from the sale of royalty trust units  139,360       -
 Noncontrolling interest distributions          (181,727)     (60,200)
 Proceeds from issuance of convertible          -             (231)
 perpetual preferred stock, net
 Stock-based compensation excess tax benefit    (16)          53
 Purchase of treasury stock                     (14,723)      (13,796)
 Dividends paid - preferred                     (55,525)      (56,742)
 Cash (paid) received on settlement of          (34,518)      6,538
 financing derivative contracts
         Net cash provided by financing      1,874,870     645,193
        activities
NET INCREASE IN CASH AND CASH EQUIVALENTS       102,085       201,818
CASH AND CASH EQUIVALENTS, beginning of year    207,681       5,863
CASH AND CASH EQUIVALENTS, end of year          $ 309,766    $ 207,681
Supplemental Disclosure of Cash Flow
Information
 Cash paid for interest, net of amounts         $  257,152   $  224,127
 capitalized
 Cash paid for income taxes                     1,324         2,083
Supplemental Disclosure of Noncash Investing
and Financing Activities
 Deposit on pending sale                        $ 255,000    $       -
 Change in accrued capital expenditures         $  27,610   $  89,388
 Adjustment to oil and natural gas properties   $  50,000   $  25,000
 for estimated contract loss
 Asset retirement costs capitalized             $   7,479  $   5,716
 Common stock issued in connection with         $ 542,138    $       -
 acquisition

For further information, please contact:

Kevin R. White
Senior Vice President
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK 73102-6406
(405) 429-5515

Cautionary Note to Investors - This press release includes "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including, but not limited to, the information appearing under the
heading "Operational Guidance." These statements express a belief,
expectation or intention and are generally accompanied by words that convey
projected future events or outcomes. The forward-looking statements include
projections and estimates of net income and EBITDA, drilling and recompletion
plans, oil and natural gas production, derivative transactions, shares
outstanding, pricing differentials, operating costs and capital spending,
plugging and abandonment costs, tax rates, debt retirement, and descriptions
of our development plans. We have based these forward-looking statements on
our current expectations and assumptions and analyses made by us in light of
our experience and our perception of historical trends, current conditions and
expected future developments, as well as other factors we believe are
appropriate under the circumstances. However, whether actual results and
developments will conform with our expectations and predictions is subject to
a number of risks and uncertainties, including the volatility of oil and
natural gas prices, our success in discovering, estimating, developing and
replacing oil and natural gas reserves, actual decline curves and the actual
effect of adding compression to gas wells, the availability and terms of
capital, the ability of counterparties to transactions with us to meet their
obligations, our timely execution of hedge transactions, credit conditions of
global capital markets, changes in economic conditions, the amount and timing
of future development costs, the availability and demand for alternative
energy sources, regulatory changes, including those related to carbon dioxide
and greenhouse gas emissions, and other factors, many of which are beyond our
control. We refer you to the discussion of risk factors in (a) Part I, Item
1A - "Risk Factors" of our Annual Report on Form 10-K for the year ended
December 31, 2011, (b) comparable "risk factors" sections of our Quarterly
Reports on Form 10-Q filed thereafter, and (c) Part I, Item 1A - "Risk
Factors" of our Annual Report on Form 10-K for the year ended December 31,
2012. All of the forward-looking statements made in this press release are
qualified by these cautionary statements. The actual results or developments
anticipated may not be realized or, even if substantially realized, they may
not have the expected consequences to or effects on our company or our
business or operations. Such statements are not guarantees of future
performance and actual results or developments may differ materially from
those projected in the forward-looking statements. We undertake no obligation
to update or revise any forward-looking statements.

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 conduct marketing 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 regions. SandRidge's internet address is
www.sandridgeenergy.com.

SOURCE SandRidge Energy, Inc.

Website: http://www.sandridgeenergy.com
 
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