SandRidge Energy to Acquire Cherokee Play Assets for $65M

SandRidge Energy, Inc. announced that its wholly owned subsidiary, SandRidge Exploration and Production, LLC, entered into a Purchase and Sale Agreement to acquire certain oil and gas properties and related assets in the Cherokee Play for $65 million in cash. The agreement also includes three contingent earn-out payments of $2 million each, based on West Texas Intermediate crude oil prices. The acquisition, which includes approximately 3.0 MBoed of net production and 7,000 net leasehold acres, is expected to be funded with cash on hand and close in the third quarter of 2026. The company anticipates the transaction will be immediately accretive to key metrics and expand its footprint in the Mid-Continent region.