SandRidge Energy Transitions Leadership

                   SandRidge Energy Transitions Leadership

James Bennett named CEO and President; Tom Ward to Depart the Company

PR Newswire

OKLAHOMA CITY, June 19, 2013

OKLAHOMA CITY, June 19, 2013 /PRNewswire/ -- SandRidge Energy, Inc. (NYSE: SD)
today announced that the Board of Directors has named James Bennett CEO and
president and that lead independent director Jeffrey Serota will serve as
interim non-executive chairman, effective June 19, 2013. SandRidge also
announced that Tom Ward, the former Chairman and CEO of SandRidge, is leaving
the company.


"After evaluating James' performance as president and his two and a half years
as our CFO, we believe that with his extensive industry and financial
expertise, as well as his leadership qualities, he is the ideal choice to lead
SandRidge," said Serota."The Board unanimously concluded that an external
search was unnecessary and not in the best interests of the company as the
Board has full confidence that James will provide excellent leadership to a
talented management team and workforce, focus the company on transparency,
meeting or exceeding expected results, capital discipline and creating
sustainable returns."

Bennett has served as chief financial officer of SandRidge since January 2011
and was promoted to president in March 2013. Prior to joining SandRidge he
was managing director for White Deer Energy, a private equity fund focused on
the oil and gas industry. From 2006 to December 2009, Bennett was employed by
GSO Capital Partners, where he served in various capacities in its energy
group, including as a managing director. His prior experience also includes
serving as chief financial officer of Aquilex Services Corp., a First Reserve
portfolio company, and as an investment banker in the energy group of
Donaldson, Lufkin & Jenrette (now Credit Suisse). He started his career at

Bennett graduated with a Bachelor of Business Administration degree with a
major in finance from Texas Tech University. He has served on the board of
directors of the general partner of Cheniere Energy Partners L.P. and PostRock
Energy Corporation.

Bennett replaces Ward, who founded the company in 2006 and has served as
chairman and CEO of the company since it was founded.The Board's decision to
replace Ward reflects its judgment that, despite Ward's many contributions to
SandRidge, new leadership is in the best interests of the company and its
shareholders at this time. "On behalf of the Board, I want to express our
appreciation of Tom's leadership and vision, which led to the founding and
growth of SandRidge," Serota said.

The company also announced that the Audit Committee of the Board of Directors
has completed its previously-announced independent investigation, which was
prompted by allegations of improper related-party transactions in oil and gas
properties in the Mississippian play. The four-month independent investigation
was conducted by Mayer Brown LLP, an internationally recognized law firm, and
included the review of hundreds of thousands of documents and the interview of
more than 40 persons. After reviewing the facts developed during the Audit
Committee's investigation, the non-employee members of the Board unanimously
determined that such did not merit a termination for cause. The termination of
Ward's employment, which reflects the Board's decision that new leadership is
desirable at this time, will accordingly be "without cause" under the terms of
his employment agreement. He will receive the severance package provided for
under the terms of his employment agreement, which consists of: the vesting of
6,331,475 shares of previously granted restricted stock; a lump sum cash
payment of $53.5 million, comprised of three times the average of his last
three annual bonuses, his accrued vacation, and the value of the restricted
stock that Ward would have received over the next three years if his
employment with the company had continued; and his current base salary to be
paid for a period of 36 months.

Bennett commented, "As we begin a new chapter in the company's history, we are
focused on keeping our talented team motivated, enhancing our communications,
and delivering on expectations by efficiently executing on our assets. We are
confident this will result in value creation for all stakeholders, including
our stockholders, employees and the communities in which we operate."

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

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 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:

Kevin R. White
Senior Vice President
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK 73102
+1 (405) 429-5515

Gregory T. Dewey
Senior Vice President
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK 73102
+1 (405) 429-6388

SOURCE SandRidge Energy, Inc.

Press spacebar to pause and continue. Press esc to stop.