SandRidge Energy acquires producing assets in Western Anadarko Basin for $144M

SANDRIDGE ENERGY INC

Cash consideration of $144M for producing assets and leasehold interests in Cherokee play.
Acquired assets include net production of ~6 MBoed (~40% oil) from 42 producing wells and 4 DUCs.
Leasehold interest in 11 DSUs with up to 22 two-mile lateral wells; joint development agreement with a partner.
Transaction funded with cash on hand; expected to close in Q3 2024 with July 1 effective date.
Acquisition is immediately accretive to production, EBITDA, and free cash flow; quarterly dividend to continue.

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