OKLAHOMA CITY, Dec. 22, 2014 /PRNewswire/ -- SandRidge
Energy, Inc. (NYSE: SD) today provided the following notice
regarding its 6.0% Convertible Perpetual Preferred Stock (Cusip
80007P885) (the "Convertible Preferred Stock").
As of December 21, 2014, pursuant
to the mandatory conversion requirement of Section 8(a) of the
Certificate of Designation governing the terms of the Convertible
Preferred Stock, each share of Convertible Preferred Stock
automatically converted into 9.211496 shares of Common Stock of the
Company. Effective as of December 21,
2014, dividends on the Convertible Preferred Stock ceased to
accrue. The Company completed the sale of the Convertible Preferred
Stock for an aggregate purchase price of $200 million in 2009.
About SandRidge Energy, Inc.
SandRidge Energy, Inc. (NYSE: SD) 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, saltwater gathering and
electrical infrastructure 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 region
of the United States. SandRidge's
internet address is www.sandridgeenergy.com.
CONTACT:
Duane M.
Grubert
EVP – Investor Relations and Strategy
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK 73102
+1 (405) 429-5515
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SOURCE SandRidge Energy, Inc.