en.Wedoany.com Reported - SandRidge Energy has signed a definitive agreement to acquire producing assets and leasehold interests in the Cherokee Play of the Mid-Continent region for $65 million, solidifying the company's ongoing expansion in the area since 2024.

The acquired assets include net production of approximately 3,000 barrels of oil equivalent per day (boed), of which about 43% is oil, along with approximately 7,000 net leasehold acres, interests in 21 producing wells, and eight proven development locations. These assets are adjacent to SandRidge's existing drilling and leasing projects in the region, expected to increase development inventory while boosting the company's liquids production.

The transaction's effective date is May 1, 2026, with closing anticipated in the third quarter. SandRidge stated it will fund the acquisition with cash on hand.

SandRidge President and Chief Executive Officer Grayson Pranin said the company is pleased to continue expanding its footprint in the Mid-Continent region by adding high-quality production and acreage directly adjacent to its current drilling and leasing project area. Pranin noted that since entering the Cherokee Play in 2024, the company has achieved strong operational results, and this acquisition is expected to further enhance its position in the basin.

Chairman Vince Intrieri described the transaction as SandRidge's second significant acquisition in the Cherokee Play, adding that the additional producing assets and drilling inventory will support the company's long-term growth strategy.

This Cherokee acquisition expands SandRidge's operational footprint in the Mid-Continent region and adds new oil-weighted production, as the company continues to scale up through targeted bolt-on acquisitions.