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” or the “Trust”). This Schedule 13D amends
the Schedule 13D previously filed with the Securities and Exchange Commission (the “Commission”) on August 27, 2020, as amended by Amendment No. 2 (Amendment No. 1 for Montare) thereto filed with the Commission
on August 28, 2020, Amendment No. 3 (Amendment No. 2 for Montare) thereto filed with the Commission on September 8, 2020 and Amendment No. 4 (Amendment No. 3 for Montare) thereto filed with the Commission on
September 11, 2020, by Avalon Energy and Montare, Amendment No. 4 with respect thereto filed with the Commission on September 28, 2020 by Montare, Amendment No. 5 with respect thereto filed with the Commission on October 2,
2020 by Montare, Amendment No. 5 (Amendment No. 6 for Montare) filed with the Commission on November 20, 2020 by Avalon Energy and Montare, Amendment No. 7 with respect thereto filed with the Commission on December 3, 2020
by Montare and Amendment No. 8 with respect thereto filed with the Commission on December 31, 2020 by Montare 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.
Montare and Avalon Energy may be deemed a group for the purposes of Section 13(d)(3) of the Act as a result of the transactions
previously described in Item 4 and as otherwise described herein. Based on information provided by Avalon Energy, if they are deemed to be a “group,” Montare believes that Avalon Energy and Montare may be deemed to collectively
beneficially own in the aggregate 18,181,912 Common Units of the Issuer, or 34.6% of the Common Units as of the date of this Schedule 13D. Montare expressly disclaims beneficial ownership of any securities beneficially owned or acquired by Avalon
Energy or any other holder of Common Units.
Item 4. Purpose of Transaction
Item 4 is hereby amended and supplemented as follows:
“On June 18, 2021, Montare entered into a Purchase and Sale agreement (the “Purchase Agreement”) with the
Issuer, whereby Montare purchased all of the overriding royalty interests held by the Issuer, effective as of July 1, 2021, for a total purchase price of $6,000,000.00. The foregoing description of the Purchase Agreement is qualified in its
entirety by reference to the full text of the Purchase Agreement, a copy of which is filed as Exhibit 99.2 to this Schedule 13D and is incorporated by reference herein.
On June 24, 2021, Montare also entered into an Assignment Agreement (the “Assignment”), effective as of
June 30, 2021, pursuant to which Montare purchased and assumed from the Issuer for an agreed consideration of $3,160,136.00, all of the Issuer’s rights and obligations under that certain Repayment Agreement, dated as of March 1, 2021,
between Avalon Energy and the Issuer (the “Repayment Agreement”) whereby Avalon Energy previously agreed to pay the Issuer certain amounts owed. Pursuant to the Assignment, Avalon Energy must make all remaining payments with
respect to the Repayment Agreement to Montare. The foregoing description of the Assignment is qualified in its entirety by reference to the full text of the Assignment, a copy of which is filed as Exhibit 99.3 to this Schedule 13D and is
incorporated by reference herein. Please also see the Issuer’s Form 8-K filed on June 24, 2021 and incorporated herein by reference.
With the consummation of the Purchase Agreement and the Assignment, and the winding-up of the Issuer,
Montare expects that the Contribution Transaction should be consummated in the near future pursuant to the terms of the Contribution and Support Agreement, as the same may be amended to reflect, among other items, the Assignment referenced herein.
The consummation of the Contribution Transaction remains subject to certain conditions. It is also contemplated that prior to the consummation of the Contribution Agreement, Montare may purchase the remaining obligations owing by Avalon Energy to
Washington Federal, Avalon Energy’s lender.”
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
Item 6 is hereby amended and supplemented as follows:
“The information set forth in Item 4 of this Schedule 13D is incorporated by reference into this Item 6.”