Short answer
SANDRIDGE ENERGY INC (SD) filed an 8-K current report with the SEC on June 29, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 7.01 (Regulation FD Disclosure), Item EX-99.1 (Exhibit EX-99.1). SandRidge subsidiary agreed to acquire oil and gas assets for $65 million cash at closing.
SANDRIDGE ENERGY INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- SandRidge subsidiary agreed to acquire oil and gas assets for $65 million cash at closing
- Additional earn-out exposure of up to $6 million tied to WTI price thresholds through December 31, 2027
- Funding from cash on hand avoids disclosed new borrowing but reduces liquidity
- Expected third-quarter 2026 closing remains subject to customary conditions and purchase-price adjustments
Item 7.01 · Regulation FD Disclosure
- Boilerplate Regulation FD language only; no substantive disclosure identified
- No investor-actionable operating, financial, or strategic information in the provided excerpt
Item EX-99.1 · Exhibit EX-99.1
- $65 million cash acquisition of Cherokee Play assets, before purchase-price adjustments and potential earn-outs up to $6 million
- Adds ~3.0 MBoed production, ~43% oil, 7,000 net leasehold acres and interests in 21 wells
- Eight proven development locations expand drilling inventory adjacent to SandRidge’s existing Mid-Continent operations
- Immediately accretive to production, EBITDA and free cash flow; expected to increase pro forma liquids mix
- May 1, 2026 effective date with closing anticipated in third quarter 2026, funded from cash on hand
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