SANDRIDGE ENERGY INC

SandRidge Energy, Inc. (NYSE: SD) is an independent oil and natural gas company organized in 2006 with principal operations focused on acquisition, development, and production activities in the U.S. Mid-Continent region. The company maintains its website at www.sandridgeenergy.com.

As of December 31, 2025, SandRidge operates interests in 1,446 gross producing wells, of which approximately 930 are operated by the company, across 574,599 gross acres located primarily in Oklahoma, Kansas, and Texas. The company's proved reserves totaled 69.1 million barrels of oil equivalent, with average daily production of 18.5 thousand barrels of oil equivalent per day during 2025. The company operates one active drilling rig and maintains a reserve life of approximately 10.2 years based on current production rates.

SandRidge's primary business involves the exploration, development, and production of oil, natural gas, and natural gas liquids. The company's proved reserves are concentrated in the Mid-Continent region, with significant interests in the Mississippian Lime, Meramec, and Cherokee formations. These formations represent substantial hydrocarbon systems with varying depths and thicknesses across the company's leasehold position. Natural gas liquids comprised approximately 35.4 percent of total proved reserves on a barrel equivalent basis as of year-end 2025.

The company's strategic focus centers on growing asset value through safe and efficient operations while maximizing cash flow through utilization of net operating loss carryforwards. SandRidge emphasizes financial discipline and prudent capital allocation to high-return projects, particularly within its Cherokee play development program. The company remains opportunistic regarding value-accretive acquisitions and business combinations while maintaining commitment to capital return programs.

During 2025, the company drilled seven operated wells and completed six wells, with four additional non-operated wells drilled and completed. The company sells its oil, natural gas, and natural gas liquids to various customers including oil and natural gas companies and energy marketing companies. Approximately 97.9 percent of the company's proved reserves were independently prepared by Cawley, Gillespie & Associates, a leading petroleum property analysis firm.