SandRidge closes $144M Western Anadarko Basin acquisition and updates FY2024 guidance

SANDRIDGE ENERGY INC

Closed acquisition of Cherokee play Western Anadarko Basin assets for $144M, funded with cash on hand.
Updated FY2024 guidance: total production now 5.4-6.4 MMboe (prior 4.7-5.9 MMboe); capex raised to $33-39M.
D&C capex $17-20M to complete 4 DUC wells and drill up to 3 new wells by year-end; non-D&C capex $16-19M.
LOE guided $36-43M and adjusted G&A $8.5-11M; both decreasing on per-Boe basis due to larger asset base.
Acquisition benefits production and revenue from Sep-Dec 2024; additional benefit in 2025 and beyond.

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