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Covington Advises SandRidge on $1.1 Billion Notes Offering

August 7, 2012

WASHINGTON, DC, August 7, 2012 — Covington & Burling advised SandRidge Energy, Inc. on a $1.1 billion offering of two series of senior notes, marking SandRidge's largest capital markets transaction to date.

The offering was comprised of $825 million of 7.5 percent senior notes due 2023 and $275 million of 7.5 percent senior notes due 2021. The proceeds of the offering will be used to finance a tender offer for $350 million of SandRidge's senior notes maturing in 2014 and to fund capital expenditures. The offering is expected to close on August 20, 2012.

The offering and tender offer are the latest in a series of transactions on which Covington has advised SandRidge. Since December 2009, the firm has assisted SandRidge in capital markets transactions raising aggregate proceeds of approximately $6 billion.

SandRidge Energy is an oil and natural gas company headquartered in Oklahoma City, Oklahoma with its principal focus on exploration and production.

The Covington team was led by corporate partner David Engvall and included corporate associates Matt Franker and Darien Capron. Partner Rob Heller provided tax advice.

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