SandRidge Energy Inc. Announces Closing Of Acquisition Of Dynamic Offshore Resources, LLC And Closing Of $750 Million Offering Of Senior Notes

SandRidge Energy Inc. (SandRidge) announced the closing of its previously announced acquisition of Dynamic Offshore Resources, LLC ("Dynamic") for aggregate consideration of approximately $680 million in cash and approximately 74 million shares of SandRidge common stock. Based on the closing price of SandRidge common stock of $7.11 per share on April 16, 2012, the acquisition's aggregate consideration is valued at approximately $1.206 billion. SandRidge also announced the closing of its previously announced private placement of $750 million aggregate principal amount of 8.125% Senior Notes due 2022. The net proceeds from this offering were used to finance the cash consideration payable in connection with the acquisition of Dynamic and to pay related costs and expenses. Any remaining net proceeds are expected to be used for general corporate purposes.