SANDRIDGE ENERGY INC

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.

SandRidge Energy Inc. held its 2026 Annual Meeting, where stockholders approved the extension of the 2016 Omnibus Incentive Plan until June 10, 2036. Additionally, the Board of Directors approved an amendment to extend the Tax Benefits Preservation Plan from July 1, 2026, to July 1, 2029, which will be submitted for stockholder approval at the 2027 Annual Meeting. Stockholders also re-elected six directors, ratified Grant Thornton LLP as the independent auditor, and approved executive compensation.

SandRidge Energy reported a strong first quarter for 2026, with net income increasing 43.1% year-over-year to $18.67 million and diluted EPS rising to $0.50. Total revenues grew 16.8% to $49.78 million, primarily driven by higher oil and natural gas sales. The company's derivative contracts shifted to a net liability position, and no shares were repurchased during the quarter, contrasting with the prior year.

SandRidge Energy, Inc. announced strong financial and operational results for the first quarter ended March 31, 2026, with net income rising to $18.7 million and adjusted EBITDA reaching $33.7 million. The company also reported a 4% increase in daily production and a 17% rise in total revenues year-over-year. Demonstrating a commitment to shareholder returns, the Board increased its ongoing quarterly dividend by 8% to $0.13 per share and declared an additional one-time dividend of $0.20 per share.

SandRidge Energy, Inc. announced its 2026 Annual Meeting of Stockholders will be held on June 10, 2026, in Oklahoma City. Stockholders will vote on the election of six directors, the ratification of Grant Thornton LLP as the independent auditor, a non-binding advisory vote on executive compensation, and the extension of the 2016 Omnibus Incentive Plan until 2036. Randolph C. Read will not seek re-election to the Board.

SandRidge Energy, Inc. announced that Randolph C. Read will not stand for re-election to the company's Board of Directors at its 2026 Annual Meeting of Stockholders. Mr. Read will continue to serve as a director until his current term expires at the Annual Meeting. The company clarified that his decision was not a result of any disagreement concerning the company's operations, policies, or practices.