Item 1.02 Termination of a Material Definitive Agreement.

On September 2, 2021, SandRidge Energy, Inc (the "Company") repaid in full all outstanding indebtedness and terminated all commitments and obligations under its Credit Agreement, dated July 26, 2021 (as amended, the "Credit Amendment"), between the Company, as Borrower, IEP Energy Holding LLC, as Lender, and Icahn Agency Services LLC, as Administrative Agent. The Company's payment to the Lender under the Credit Agreement was approximately $20.0 million, which satisfies all of the Company's debt obligations. The Company did not incur any early termination penalties as a result of the repayment of indebtedness or termination of the Credit Agreement, which provided that both the term loan and revolving line under the Credit Agreement matured as of November 30, 2023. In connection with the repayment of outstanding indebtedness by the Company, the borrowers were automatically and permanently released from all security interests, mortgages, liens and encumbrances under the Credit Agreement. The material terms of the Credit Agreement are described in the Company's Form 8-K filed with the Securities and Exchange Commission ("SEC") on November 30, 2020.

The foregoing summary of the Credit Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to the Credit Agreement, which was filed as Exhibit 10.1 to the Company's Form 8-K filed with the SEC on November 30, 2020, and the first amendment to the Credit Agreement, which was filed as Exhibit 10.1 on the Company's Form 8-K filed with the SEC on July 28, 2021, and is incorporated herein by reference.

As previously disclosed, on August 13, 2021, the Company entered into a swap intercreditor agreement with J. Aron and Company LLC, as Energy Hedge Provider and Icahn Agency Services LLC, as Administrative Agent (the "Swap Intercreditor Agreement") on August 11, 2021. All commitments and obligations under the Swap Intercreditor Agreement were also terminated on September 2, 2021. The description of the Swap Intercreditor Agreement is qualified in its entirety by reference to the full text of the Swap Intercreditor Agreement, which was filed as Exhibit 10.1 to the Company's Form 8-K filed with the SEC on August 13, 2021.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses