OKLAHOMA CITY, Sept. 4, 2014 /PRNewswire/ -- SandRidge
Energy, Inc. (NYSE: SD) today announced that its board of directors
approved a program to repurchase up to $200
million of the company's common stock. Under the
program's terms, shares may be repurchased on the open market,
through privately negotiated transactions such as block trades, or
by other means as determined by SandRidge's management and in
accordance with the requirements of the Securities and Exchange
Commission. The timing and actual number of shares
repurchased will depend on a variety of factors including price,
corporate and regulatory requirements, and other conditions.
There is no fixed termination date for this repurchase program, and
the repurchase program may be suspended or discontinued at any
time. Payment for shares repurchased under the program will
be funded using the company's working capital.
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Cautionary Note to Investors - This press release includes
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including, but not
limited to, the information appearing under the heading
"Operational Guidance." These statements express a belief,
expectation or intention and are generally accompanied by words
that convey projected future events or outcomes. The
forward-looking statements include projections and estimates of net
income and EBITDA, drilling plans, oil and natural gas production,
derivative transactions, pricing differentials, operating costs,
general and administrative costs, capital spending, tax rates, and
descriptions of our development plans and appraisal programs. We
have based these forward-looking statements on our current
expectations and assumptions and analyses made by us in light of
our experience and our perception of historical trends, current
conditions and expected future developments, as well as other
factors we believe are appropriate under the circumstances.
However, whether actual results and developments will conform with
our expectations and predictions is subject to a number of risks
and uncertainties, including the volatility of oil and natural gas
prices, our success in discovering, estimating, developing and
replacing oil and natural gas reserves, actual decline curves and
the actual effect of adding compression to natural gas wells, the
availability and terms of capital, the ability of counterparties to
transactions with us to meet their obligations, our timely
execution of hedge transactions, credit conditions of global
capital markets, changes in economic conditions, the amount and
timing of future development costs, the availability and demand for
alternative energy sources, regulatory changes, including those
related to carbon dioxide and greenhouse gas emissions, and other
factors, many of which are beyond our control. We refer you to the
discussion of risk factors in Part I, Item 1A - "Risk Factors" of
our Annual Report on Form 10-K for the year ended December 31, 2013. All of the forward-looking
statements made in this press release are qualified by these
cautionary statements. The actual results or developments
anticipated may not be realized or, even if substantially realized,
they may not have the expected consequences to or effects on our
company or our business or operations. Such statements are not
guarantees of future performance and actual results or developments
may differ materially from those projected in the forward-looking
statements. We undertake no obligation to update or revise any
forward-looking statements.
About SandRidge Energy
SandRidge Energy, Inc. (NYSE: SD) is an oil and natural gas
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, saltwater disposal and
electrical infrastructure facilities and conduct marketing
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 the Mid-Continent region
of the United States. SandRidge's
internet address is www.sandridgeenergy.com.
For further information, please contact:
Duane M. Grubert
EVP – Investor Relations and Strategy
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK 73102-6406
(405) 429-5515
SOURCE SandRidge Energy, Inc.