This Amendment to Schedule 13D (as amended, this “Schedule 13D”)
relates to Common Units of Beneficial Interest (“Common Units”) of SandRidge Permian Trust, a Delaware statutory trust (the “Issuer”). This Schedule 13D amends the Schedule 13D previously filed with
the Securities and Exchange Commission (the “Commission”) by Avalon Energy, LLC and Montare Resources I, LLC, by furnishing the information set forth below. Except as otherwise specified in this Schedule 13D, all previous
Items of the Schedule 13D previously filed with the Commission are unchanged. Capitalized terms used herein which are not defined herein have the meanings given to them in the Schedule 13D previously filed with the Commission.
Item 4. Purpose of Transaction
Item
4 is hereby amended and supplemented by adding the following:
“On September 2, 2020, Avalon Energy sent a letter (the
“Avalon Letter”) to the Trust updating the Trustee with respect to its current view of future quarterly Trust distributions. As further outlined in the Avalon Letter, Avalon Energy advised the Trust that it did not believe
that the termination of the Trust and the related sales process set forth in the Trust Agreement would occur anytime soon given its current estimates of future Trust distributions. Avalon Energy instead urges the Trustee to discuss a possible
transaction with Montare believing that Montare is best positioned to deliver a transaction that provides the highest value to Unitholders for the reasons set forth in the Avalon Letter. This description of the Avalon Letter is qualified in its
entirety by reference to the full text of the Avalon Letter, which is attached hereto as Exhibit 99.4 and incorporated by reference herein.”
The disclosures in the Avalon Letter include “forward-looking statements” about the operation of the Underlying Properties and the
production from such properties that are subject to risks and uncertainties within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Act. All statements other than statements of historical fact
included in the Avalon Letter and this Schedule 13D are forward-looking statements. Actual outcomes and results may differ materially from those projected above. These forward-looking statements have been based upon our current expectations and
assumptions about future events. These statements are based on certain assumptions made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we
believe are appropriate under the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks and uncertainties which could affect the future results depicted in
the Avalon Letter and this Schedule 13D and could cause these results to differ materially from those expressed in such forward-looking statements.”
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
Item 6 is hereby amended and supplemented by adding the following sentence:
“The information set forth in Item 4 of this Schedule 13D is incorporated by reference into this Item 6.”
Item 7. Material to be Filed as Exhibits
Item 7 is hereby amended and supplemented as follows:
“The following exhibits are filed as exhibits hereto:
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Exhibit
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Description of Exhibit
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99.4
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Letter to SandRidge Permian Trust, dated September 2, 2020”
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