OKLAHOMA CITY, Okla., April 24 /PRNewswire-FirstCall/ -- SandRidge Energy, Inc. (NYSE: SD) today announced that it has priced its previously announced registered underwritten public offering of 15,200,000 shares of its common stock, 3,000,000 of which are being offered by Tom L. Ward, the Company's Chairman, Chief Executive Officer and President. The offering was priced at a price to the public of $7.60 per share. Following the completion of the offering, Mr. Ward will continue to beneficially own 26,051,577 shares of common stock of the Company. The Company has granted the underwriter a 30-day option to purchase up to 2,280,000 additional shares of common stock to cover over-allotments. Net proceeds to the Company from the offering are expected to be used for general corporate purposes, including to repay a portion of the amount outstanding under the Company's revolving credit facility and/or to fund a portion of the Company's 2009 exploration, development and other capital expenditures. The Company will not receive any of the proceeds from the shares of its common stock sold by Mr. Ward.

Morgan Stanley & Co. Incorporated is acting as book-running manager of the offering. The offering will be made only by means of a final prospectus supplement and accompanying base prospectuses, copies of which may be obtained from:

            Morgan Stanley & Co. Incorporated
            Attention: Prospectus Department
            180 Varick Street, 2nd Floor
            New York, NY 10014
            Email: prospectus@morganstanley.com
            Telephone: 866-718-1649

An electronic copy of the final prospectus supplement and accompanying base prospectuses may also be obtained at no charge at the Securities and Exchange Commission's website at www.sec.gov.

The shares of common stock are being offered pursuant to effective registration statements that the Company previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the shares of common stock or any other securities, nor will there be any sale of the shares of common stock or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    For further information, please contact:
            Kevin R. White
            Senior Vice President
            SandRidge Energy, Inc.
            123 Robert S. Kerr Avenue
            Oklahoma City, Oklahoma 73102-6406
            (405) 429-5515

SandRidge Energy, Inc. is a natural gas and crude oil company headquartered in Oklahoma City, Oklahoma with its principal focus on exploration and production. SandRidge and its subsidiaries also own and operate gas gathering and processing facilities and CO2 treating and transportation facilities and conduct marketing and tertiary oil recovery operations. In addition, Lariat Services, Inc., a wholly-owned subsidiary of SandRidge, owns and operates a drilling rig and related oil field services business. SandRidge focuses its exploration and production activities in West Texas, the Cotton Valley Trend in East Texas, the Gulf Coast, the Mid-Continent, and the Gulf of Mexico. SandRidge's Internet address is www.sandridgeenergy.com.

SOURCE SandRidge Energy, Inc.