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Covington Advises SandRidge Energy on Closing of Merger with Arena Resources, Creating a $6.2 Billion Company

July 20, 2010

NEW YORK, July 20, 2010 — SandRidge Energy, Inc. has completed its acquisition of Arena Resources, Inc., creating a combined company with an enterprise value of approximately $6.2 billion. Covington & Burling LLP advised SandRidge Energy on the transaction.

The merger closed on July 16 following special meetings of the stockholders of each company. The combination will uniquely position SandRidge, an oil and natural gas company headquartered in Oklahoma City, as one of the largest producers of West Texas conventional oil and gas, with oil opportunities coming primarily from drilling and development of shallow, low risk reservoirs located on the Central Basin Platform, a part of the Permian Basin in West Texas.

The New York and Washington based Covington team was led by corporate partners Scott Smith and Stephen Infante, with associates Jon Jacobs and Jennifer Presto. Also advising on the transaction were partner David Engvall and associate James Wawrzyniak (securities), partner Michael Francese and associate Jenna Wallace (benefits), partner Rob Heller and associate Rucia Pei (tax), partner Tom Barnett and of counsel David Addis (antitrust), and partners Will Phillips and Mark Gimbel and associates Laura Flahive Wu and Courtney Macdonald (litigation).

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