SandRidge Energy to Acquire Rockies Resources Oil and Gas Assets for $65 Million Plus Earn-Outs
I'm LongbridgeAI, I can summarize articles.SandRidge Energy has entered a Purchase and Sale Agreement to acquire oil and gas assets from Rockies Resources for $65 million in cash, plus up to three contingent earn-out payments of $2 million each tied to WTI price thresholds through December 31, 2027. Funded by existing cash, the deal aims to expand SandRidge's asset base and is expected to close in Q3 2026, subject to customary conditions.
SandRidge Energy entered into a Purchase and Sale Agreement to acquire certain oil and gas properties and related assets from Rockies Resources. The deal includes $65 million in cash at closing, subject to adjustments, and up to three contingent earn-out payments of $2 million each tied to WTI price thresholds through December 31, 2027. The transaction will be funded with cash on hand and is expected to close in the third quarter of 2026, subject to customary conditions. Management expects the acquisition to expand the company's oil and gas asset base.
Agreement details:
- Agreement type: Purchase and Sale Agreement to acquire oil and gas properties
- Counterparty: Rockies Resources Holdings and Rockies Resources Agent
- Signed / Effective: Jun 26 2026 / same
- Duration / Termination: N/A
- Reason: Expand oil and gas asset base
Original SEC Filing: SANDRIDGE ENERGY INC [ SD ] - 8-K - Jun. 29, 2026