SandRidge Energy announced the entry into a definitive agreement to acquire certain producing assets and leasehold interests in the Cherokee play of the Western Anadarko Basin for cash consideration of $144M, before customary purchase price adjustments. The Company also entered into a Joint Development Agreement, or JDA, governing its participation in the future development of certain of the acquired leasehold interests. Acquisition Highlights include: Net production of ~6 MBoed, ~40% oil, focused in Ellis and Roger Mills Counties, Oklahoma; includes 42 producing wells in addition to 4 drilled uncompleted wells scheduled to be turned to production in 2024; immediately accretive to key metrics, including production, EBITDA, and free cash flow; oily PDP production and new development is projected to meaningfully increase SandRidge’s EBITDA and cash flow on a pro forma basis, all while maintaining its planned quarterly dividend; leasehold interest in 11 drilling spacing units which add inventory of up to 22 two-mile lateral wells in the highly productive core of the Cherokee play; joint development of DSUs with a partner who has a demonstrable history of successful operations in the Cherokee play; SandRidge will assume operatorship of new wells after they are producing. July 1 effective date with anticipated closing in the Q3. SandRidge plans to fund the transaction with cash on hand. Winston & Strawn is serving as SandRidge’s legal advisor for the transaction.