PER SandRidge Permian Trust

OKLAHOMA CITY, Aug. 10, 2011 /PRNewswire/ -- SandRidge Permian Trust (the Trust) announced today that it has priced its initial public offering of 30,000,000 common units at a price per common unit of $18.00. The 30,000,000 common units being sold in the offering represent a 57% beneficial interest in the Trust. The underwriters have 30 days to exercise an option to purchase an additional 4,500,000 common units from the Trust to cover over-allotments, if any. Following completion of the offering, SandRidge Energy, Inc. (NYSE: SD) (SandRidge), as sponsor of the Trust, will own 9,375,000 common units and 13,125,000 subordinated units convertible into common units, assuming no exercise of the underwriters' option, and the Trust will have a total of 52,500,000 trust units outstanding. The common units have been approved for listing on the New York Stock Exchange, and will trade under the symbol "PER." The offering, which is subject to customary closing conditions, is expected to close on or about August 16, 2011.

The Trust will own royalty interests conveyed to it by SandRidge that will entitle the Trust to a percentage of the proceeds received by SandRidge from the production of hydrocarbons from currently producing wells and development wells to be drilled by SandRidge on approximately 15,900 net acres in the Permian Basin in Andrews County, Texas.

Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., RBC Capital Markets LLC, and Wells Fargo Securities, LLC are serving as joint book-running managers of this offering. Deutsche Bank Securities Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Robert W. Baird & Co. Incorporated, Oppenheimer & Co. Inc., Morgan Keegan & Company Inc., Sanders Morris Harris Inc., Wunderlich Securities, Inc., SunTrust Robinson Humphrey, Inc., Johnson Rice & Company L.L.C. and Tuohy Brothers Investment Research, Inc. are serving as co-managers. This offering of common units is being made only by means of a prospectus. A written prospectus meeting the requirements of the Securities Act of 1933 may be obtained from:

A Registration Statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction where the offer or sale is not permitted.

About SandRidge Permian Trust:

SandRidge Permian Trust is a Delaware statutory trust formed by SandRidge Energy, Inc. to own certain royalty interests in oil and natural gas wells in Andrews County, Texas producing from the Grayburg/San Andres formation within the Permian Basin.

About SandRidge Energy, Inc.:

SandRidge Energy, Inc. is an oil and natural gas company headquartered in Oklahoma City, Oklahoma, with its principal focus on exploration and production. SandRidge Energy, Inc. focuses its exploration and production activities in the Permian Basin, Mid-Continent, West Texas Overthrust, Cotton Valley Trend in East Texas, Gulf Coast and Gulf of Mexico. SandRidge Energy, Inc.'s internet address is www.sandridgeenergy.com.

Forward-Looking Statements

Statements contained in this press release that are not historical facts are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements, including statements regarding the completion of the Trust's proposed initial public offering and any of the terms thereof, are inherently uncertain and subject to a variety of risks that could cause actual results to differ materially from those expected by the management of SandRidge Energy, Inc.

CONTACT:

Kevin R. White

Senior Vice President

SandRidge Energy, Inc.

123 Robert S. Kerr Avenue

Oklahoma City, OK 73102

+1 (405) 429-5515

Michael J. Ulrich, Vice President

The Bank of New York Mellon Trust Company, N.A.,

as Trustee of SandRidge Permian Trust

919 Congress Avenue, Suite 500

Austin, TX 78701

+1 (512) 236-6599  

SOURCE SandRidge Permian Trust