OKLAHOMA CITY, Aug. 20, 2012 /PRNewswire/ -- SandRidge Energy, Inc. (NYSE: SD) (the "Company") today announced that it has received, as of 5:00 p.m., New York City time, on August 17, 2012 (the "Consent Expiration"), tenders and consents from holders of 94.26% of the aggregate principal amount of its Senior Floating Rate Notes due 2014 (the "Notes"), representing $329.9 million of the Notes, in connection with its previously announced cash tender offer for the Notes and related solicitation of consents to certain proposed amendments to the indenture governing the Notes, as reported to the Company by the depositary for the tender offer. The tender offer commenced on August 6, 2012 and is described in the Offer to Purchase and Consent Solicitation Statement dated August 6, 2012. (Logo: http://photos.prnewswire.com/prnh/20120416/DA88110LOGO) Having received the requisite consents, the Company intends to execute later today a supplement to the indenture governing the Notes (the "Supplemental Indenture"), which will (i) eliminate almost all of the covenants and certain default provisions applicable to the Notes and (ii) shorten the minimum redemption notice period from 30 days to three days should the Company elect to redeem any outstanding Notes in accordance with the terms of the indenture governing the Notes. The Supplemental Indenture will not become operative until a majority in aggregate principal amount of the Notes has been purchased by the Company pursuant to the terms of the tender offer and the consent solicitation, which is expected to occur today. The Company's obligation to accept for purchase, and to pay for, any Notes pursuant to the tender offer is subject to the satisfaction of certain conditions including: (1) consummation of a capital markets debt offering on terms satisfactory to the Company that results in the receipt of net proceeds that are sufficient to pay the total consideration for all tendered Notes, plus all related fees and expenses, (2) execution of the Supplemental Indenture, and (3) certain other customary conditions.