OKLAHOMA CITY, Oct. 11, 2012 /PRNewswire/ -- SandRidge Energy, Inc. (NYSE: SD) today announced the commencement of offers to exchange (1) its outstanding 8⅛% Senior Notes due 2022 that were issued on April 17, 2012 (the "Old 2022 Notes") for new 8⅛% Senior Notes due 2022 (the "New 2022 Notes") that are registered under the Securities Act of 1933, as amended (the "Securities Act"); (2) its outstanding 7.5% Senior Notes due 2021 that were issued on August 20, 2012 (the "Old 2021 Notes") for new 7.5% Senior Notes due 2021 that are registered under the Securities Act (the "New 2021 Notes"); and (3) its outstanding 7.5% Senior Notes due 2023 that were issued on August 20, 2012 (the "Old 2023 Notes" and, collectively with the Old 2022 Notes and the Old 2021 Notes, the "Old Notes") for new 7.5% Senior Notes due 2023 that are registered under the Securities Act (the "New 2023 Notes" and, collectively with the New 2022 Notes and the New 2021 Notes, the "New Notes"). The Old Notes were issued in private placements exempt from the registration provisions of the Securities Act pursuant to Rule 144A and Regulation S under the Securities Act.
Terms of the New Notes will be identical in all respects to the corresponding series of Old Notes, except that the transfer restrictions applicable to the Old Notes will not apply to the New Notes and, except in limited circumstances, the New Notes will not have rights to additional interest or registration rights. The Old Notes are subject, and any untendered Old Notes will remain subject, to transfer restrictions that, in general, prohibit holders from offering or selling the Old Notes unless the offer and sale are registered under the Securities Act or are exempt from registration under the Securities Act.
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