SandRidge Energy, Inc Announces Repaid in Full All Outstanding Indebtedness and Terminated All Commitments and Obligations Under Its Credit Agreement
September 03, 2021 at 04:25 pm EDT
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On September 2, 2021, SandRidge Energy, Inc. 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.
SandRidge Energy, Inc. is an independent oil and gas company engaged in the development, acquisition and production of oil and gas assets. The Companyâs primary area of operations is the Mid-Continent region in Oklahoma and Kansas. Its primary operations are the production, development, and acquisition of hydrocarbon resources. The Company holds interests in about 1,453 gross (849 net) producing wells, approximately 958 of which it operates, and 548,895 gross (364,201 net) total acres under lease. Its productive wells consist of wells that are producing hydrocarbons. The Company sells its oil, natural gas, and natural gas liquids (NGLs) to a variety of customers, including oil and natural gas companies and trading and energy marketing companies. The Companyâs subsidiaries include SandRidge Exploration and Production, LLC, SandRidge Holdings, Inc., SandRidge Midstream, Inc., SandRidge Operating Company, and SandRidge Realty, LLC.
SANDRIDGE ENERGY, INC. 
