SandRidge Energy acquires Cherokee Play assets for $65M cash plus earn-outs

SANDRIDGE ENERGY INC

Acquires producing assets for $65M cash plus up to $6M in contingent earn-outs tied to WTI price thresholds.
Net production ~3.0 MBoed (43% oil), ~7,000 net leasehold acres, interests in 21 wells and 8 PUD locations.
Transaction expected to close in Q3 2026, funded with cash on hand; effective date May 1, 2026.
Assets directly offset SandRidge's existing drilling operations; immediately accretive to production, EBITDA, and FCF.

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