SandRidge Energy Announces Expiration of Exchange Offer for its 7.5% Senior Notes due 2021
OKLAHOMA CITY, Nov. 14, 2012 /PRNewswire/ -- SandRidge Energy, Inc. (SD) today announced the expiration of the offer to exchange its outstanding 7.5% Senior Notes due 2021 that were issued on August 20, 2012 (the "Old Notes") for new 7.5% Senior Notes due 2021 that are registered under the Securities Act of 1933, as amended (the "New Notes"). The exchange offer expired at 5:00 p.m., Eastern time, on November 14, 2012. The exchange offer initially was scheduled to expire on November 8, 2012, but was extended to provide additional time for holders of outstanding Old Notes to tender such notes for exchange.
Wells Fargo Bank, National Association, the exchange agent for the exchange offer, has advised that Old Notes in the aggregate principal amount of $275,000,000, representing 100% of the aggregate principal amount of Old Notes, were validly tendered and not validly withdrawn prior to the expiration of the exchange offer. SandRidge Energy has accepted for exchange all of the Old Notes, and expects to issue the New Notes in exchange for the Old Notes on or about November 16, 2012.
This press release is neither an offer to sell nor a solicitation of an offer to buy securities and no recommendation is made as to whether or not holders of Old Notes should have exchanged them. The exchange is being conducted pursuant to the terms of the prospectus and related letter of transmittal dated October 11, 2012, copies of which were provided to holders of the Old Notes.
Except for historical information contained herein, the statements in this release are forward-looking. Forward-looking statements are based on assumptions and beliefs that we believe to be reasonable; however, assumed facts almost always vary from actual results and the differences between assumed facts and actual results can be material depending upon the circumstances. Our forward-looking statements, whether written or oral, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany those statements. The forward-looking statements involve risks and uncertainties that affect our operations, financial performance, and other factors as discussed in our filings with the Securities and Exchange Commission. Among the factors that could cause results to differ materially are those risks and other disclosures made in the Registration Statement on Form S-4 under the heading "Risk Factors" and in other filings we make with the SEC. In addition, we undertake no obligation to update or revise any forward-looking statements to reflect events or circumstances occurring after the date of this Statement.
About SandRidge Energy
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 CO2 treating and transportation 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, Permian Basin, Gulf of Mexico, West Texas Overthrust and Gulf Coast. SandRidge's internet address is www.sandridgeenergy.com.
CONTACT: Kevin R. White Senior Vice President SandRidge Energy, Inc. 123 Robert S. Kerr Avenue Oklahoma City, OK 73102 +1 (405) 429-5515
SOURCE SandRidge Energy, Inc.