SandRidge Energy Inc. (SD) filed a Form 8K - Entry Into a Definitive Agreement - with the U.S Securities and Exchange Commission on June 29, 2026.
On June 26, 2026, SandRidge Exploration and Production, LLC, a Delaware limited liability company (the "Purchaser") and a wholly owned subsidiary of SandRidge Energy, Inc. (the "Company"), entered into a Purchase and Sale Agreement, dated June 26, 2026, by and among Rockies Resources Holdings LLC, a Delaware limited liability company, and Rockies Resources Agent Corp., a Delaware corporation, as agent for Rockies Resources Holdings LLC (each of the foregoing, a "Seller" and collectively, the "Sellers") (the "Purchase Agreement"), providing for the Purchaser's acquisition of the Sellers' right, title and interest in certain oil and gas properties and related assets and contracts (the "Assets").
Pursuant to the Purchase Agreement, the Assets will be acquired for $65,000,000 in cash consideration at closing, subject to customary purchase price adjustments, and three contingent earn-out payments of $2,000,000 each, based on exceeding the average daily spot price for West Texas Intermediate crude oil at certain price thresholds beginning July 1, 2026 and ending December 31, 2027. The Purchase Agreement contains representations, warranties and covenants that are customary of oil and gas purchase and sale agreements. The transaction is expected to be funded with cash on hand and is anticipated to close in the third quarter of 2026, subject to the satisfaction of customary closing conditions.
A copy of the Purchase Agreement is attached hereto as Exhibit 2.1 and is incorporated by reference herein. The foregoing description of the Purchase Agreement is qualified in its entirety by reference to Exhibit 2.1.
The full text of this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/1349436/000121390026072879/ea0296206-8k_sandridge.htm
Any exhibits and associated documents for this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/1349436/000121390026072879/0001213900-26-072879-index.htm
Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.