SandRidge Mississippian Trust II Announces Pricing of Initial Public Offering at The Top End of Price Range

OKLAHOMA CITY, April 17, 2012 /PRNewswire/ -- SandRidge Mississippian Trust II (the Trust) announced today that it has priced its initial public offering of 26,000,000 common units at a price per common unit of $21.00, which represents the top end of the expected price range of $19.00 to $21.00.  The 26,000,000 common units being sold in the offering represent a 52% beneficial interest in the Trust.  The underwriters have 30 days to exercise an option to purchase an additional 3,900,000 common units from the Trust to cover over-allotments, if any.  Following completion of the offering, SandRidge Energy, Inc. (NYSE: SD) (SandRidge), as sponsor of the Trust, will own approximately 11.3 million common units, assuming no exercise of the underwriters' option, and approximately 12.4 million subordinated units convertible into common units, and the Trust will have a total of 49,725,000 trust units outstanding.  The common units have been approved for listing on the New York Stock Exchange, and will trade under the symbol "SDR."  The offering, which is subject to customary closing conditions, is expected to close on or about April 23, 2012.

The Trust will own royalty interests conveyed to it by SandRidge that will entitle the Trust to a percentage of the proceeds received by SandRidge from the production of hydrocarbons from currently producing wells and development wells to be drilled by SandRidge on approximately 53,000 net acres in the Mississippian formation in northern Oklahoma and southern Kansas.

Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., BofA Merrill Lynch, Citigroup Global Markets Inc., and RBC Capital Markets, LLC are serving as joint book-running managers of this offering. UBS Securities LLC, Oppenheimer & Co. Inc., Wunderlich Securities, Inc., Sanders Morris Harris Inc., and Johnson Rice & Company L.L.C. are serving as co-managers.  This offering of common units is being made only by means of a prospectus. A written prospectus meeting the requirements of the Securities Act of 1933 may be obtained from:

Morgan Stanley & Co. LLC
  Attn:  Prospectus Dept.
  180 Varick Street, 2nd Floor
  New York, New York  10014

  Raymond James & Associates, Inc.
  Attn: Equity Syndicate
  c/o Raymond James & Associates, Inc.
  880 Carillon Parkway
  St. Petersburg, Florida 33716
  Toll free No.: (800) 248-8863

   BofA Merrill Lynch

   Attn: Prospectus Department

   4 World Financial Center

   New York, NY 10080


A Registration Statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction where the offer or sale is not permitted.


SandRidge Mississippian Trust II is a Delaware statutory trust formed by SandRidge Energy, Inc. to own certain royalty interests in oil and natural gas wells in the Mississippian formation in northern Oklahoma and southern Kansas.


SandRidge Energy, Inc. is an oil and natural gas company headquartered in Oklahoma City, Oklahoma, with its principal focus on exploration and production.  SandRidge  and its subsidiaries also own and operate gas gathering and processing facilities and CO2 treating and transportation facilities and conduct marketing and tertiary oil recovery operations.  In addition, Lariat Services, Inc., a wholly-owned subsidiary of SandRidge, owns and operates a drilling rig and related oil field services business. SandRidge focuses its exploration and production activities in the Mid-Continent, Permian Basin, West Texas Overthrust, Gulf Coast and Gulf of Mexico.  

Forward-Looking STATEMENTS

Statements contained in this press release that are not historical facts are "forward-looking statements" within the meaning of the federal securities laws.  Forward-looking statements, including statements regarding the completion of the proposed initial public offering of the Trust and any of the terms thereof, are inherently uncertain and subject to a variety of risks that could cause actual results to differ materially from those expected by the management of SandRidge Energy, Inc.

CONTACT: Kevin R. White
Senior Vice President
SandRidge Energy, Inc.
123 Robert S. Kerr Avenue
Oklahoma City, OK 73102
+1 (405) 429-5515

Michael J. Ulrich, Vice President
The Bank of New York Mellon Trust Company, N.A.,
as Trustee of SandRidge Mississippian Trust II
919 Congress Avenue, Suite 500
Austin, TX 78701
+1 (512) 236-6599


SOURCE SandRidge Energy, Inc.; SandRidge Mississippian Trust II

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