OKLAHOMA CITY, Feb. 7, 2018 /PRNewswire/ — SandRidge Energy, Inc. (“SandRidge” or the “Company”) (NYSE: SD) today confirmed it has received an unsolicited proposal from Midstates Petroleum Company, Inc. (NYSE: MPO) (“Midstates”) to combine the two companies in an all stock, at market transaction.
As previously disclosed, SandRidge’s independent directors are engaged in an ongoing dialogue with shareholders and are developing a plan of action in line with their commitment to acting in the best interests of all shareholders. The SandRidge Board, in consultation with its independent financial and legal advisors, will carefully review and evaluate Midstates’ proposal, taking into account the Company’s current strategic plan and standalone prospects.
About SandRidge Energy, Inc.
SandRidge Energy, Inc. (NYSE: SD) is an oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma with its principal focus on developing high-return, growth-oriented projects in the U.S. Mid-Continent and Niobrara Shale.