SANDRIDGE ENERGY, INC. ANNOUNCES CLOSING OF WESTERN ANADARKO BASIN ACQUISITION AND UPDATES FULL-YEAR 2024 GUIDANCE

OKLAHOMA CITY, Sept. 3, 2024 /PRNewswire/ -- SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE:SD) today announced the closing of its previously announced acquisition of certain producing assets and leasehold interests in the Cherokee play of the Western Anadarko Basin for $144 million, before customary purchase price adjustments. The Company funded the transaction with cash on hand. SandRidge also provided updated guidance for the full-year 2024, incorporating contributions from the new producing assets and joint development program, and made available an investor presentation regarding the acquisition on its website at investors.sandridgeenergy.com.

Full-Year 2024 Guidance Update

Presented in the table below is the Company's updated operational and capital expenditure guidance for 2024(1):

Prior 2024E Guidance(2)

Updated 2024E Guidance(3)

Production

  Oil (MMBbls)

0.7 - 0.9

0.8, 1.1

  Natural Gas Liquids (MMBbls)

1.3 - 1.7

1.6, 1.9

Total Liquids (MMBbls)

2.0 - 2.6

2.4, 3.0

  Natural Gas (Bcf)

16.2 - 19.8

17.7, 20.5

Total Production (MMBoe)

4.7 - 5.9