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SandRidge Energy Expands Board Of Directors

                 SandRidge Energy Expands Board Of Directors

Four TPG-Axon Group Nominees Appointed to the Board Immediately

Newly Expanded Board to Undertake a Comprehensive Review of Capital and
Overhead Expenses

Board to Complete Review by Independent Firm of Related-Party Transactions

PR Newswire

OKLAHOMA CITY, March 13, 2013

OKLAHOMA CITY, March 13, 2013 /PRNewswire/ -- SandRidge Energy, Inc. (NYSE:
SD) today announced that it has reached a settlement agreement with TPG-Axon
Capital. Under the terms of the agreement:

  oFour of the TPG-Axon Group's nominees – Stephen C. Beasley, Edward W.
    Moneypenny, Alan J. Weber and Dan A. Westbrook – will be added to the
    Board of Directors effective immediately.
  oThe Board of Directors will complete a review by an independent firm of
    the related-party transactions that have been outlined by TPG-Axon, and
    expects the results of that review to be completed no later than June 15,
    2013. Mr. Ward will remain Chairman and CEO while the Board completes its
    review.
  oThe Board of Directors will decide by June 30, 2013, whether or not to
    terminate Mr. Ward's employment. If the Board does not terminate Mr. Ward
    by June 30, 2013, three current directors will resign, and one additional
    TPG-Axon nominee will be elected to the Board, resulting in a majority of
    the Board being TPG-Axon nominees.
  oIn the event that Mr. Ward is no longer CEO, James Bennett will be
    appointed interim CEO, and the Board will conduct a search for a successor
    CEO. Mr. Bennett has been appointed President and Jeffrey Serota has been
    appointed lead independent director. In the event Mr. Ward is no longer
    Chairman of the Board, Mr. Serota will be appointed interim Chairman, for
    a term of six months.
  oThe Board will also conduct a comprehensive review of the Company's
    strategy and costs, with particular focus on reducing corporate overhead
    and optimizing capital expenditures. As a symbol of its commitment to
    improving efficiency, the Board has reduced compensation for directors,
    effective immediately, from $375,000 to $250,000 per year.

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

Mr. Serota stated "We believe these actions open a new chapter for SandRidge.
Going forward, the Company will focus on maximizing the potential of its
existing assets, particularly its valuable position in the Mississippian
formation. In addition, we remain committed to creating long-term value for
all stakeholders including our shareholders and employees and the communities
in which we operate.We look forward to the immediate contribution of our new
directors."

Dinakar Singh, founder of TPG-Axon, commented: "We are pleased to reach
agreement with the SandRidge directors, and look forward to working together
to build shareholder value. We believe the actions taken by the Board address
our concerns, and are a promising start to a bright future for SandRidge. We
all believe that SandRidge has tremendous asset value, and we expect that the
Company will relentlessly focus on growing and realizing that value through a
particular focus on execution and efficiency."

TPG-Axon Group has agreed to terminate its consent solicitation and withdraw
its notice to the Company of its intent to present certain proposals and
nominate certain individuals for election as directors at the Company's 2013
annual meeting.

The Company noted that while the Board's review to date has not revealed any
improper conduct by Mr. Ward, the Audit Committee of the Board is conducting a
further review, with the assistance of independent counsel, and expects the
results of that review to be completed no later than June 15, 2013.

Separately, SandRidge also announced today that Matthew K. Grubb, the
Company's President and Chief Operating Officer, has informed the Company of
his intent to resign to pursue other opportunities. Mr. Ward commented, "I
want to thank Matt for his tireless work over the last seven years. He has
been instrumental in helping SandRidge transition to a liquids rich company
with a solid financial footing. We wish him the best in his future endeavors."

About SandRidge:

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.

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, 2012, which was filed with the Securities
and Exchange Commission (the "SEC") on March 1, 2013, as may be 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.

SandRidge Contacts:

Investors

Kevin R. White
Senior Vice President
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK73102
+1 (405) 429-5515

Media

Gregory T. Dewey
Senior Vice President
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK73102
+1 (405) 429-6388

SOURCE SandRidge Energy, Inc.

Website: http://www.sandridgeenergy.com
 
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