SandRidge Energy, Inc. has initiated a series of actions designed to improve shareholder value:

• Evaluation of minimal 2020 capex plan to maximize free cash flow
• John P. Suter named Interim President & CEO following departure of Paul D. McKinney

Paul D. McKinney has resigned as President and Chief Executive Officer and as a Board member and John P. Suter, who currently serves as the Company’s Chief Operating Officer, has agreed to serve as Interim President and Chief Executive Officer.

The Company will be focusing on actions to maximize value to shareholders, which will include evaluation of the 2020 capital expenditure program in light of market conditions with a focus on maximizing free cash flow. Management and the Board of Directors will undertake a comprehensive review of the Company with the aim to improve operational efficiencies and cost controls.

Jonathan Frates, Chairman of the Board, stated, 
“In light of the current challenging price environment, we are reevaluating our 2020 capital plans with an emphasis on cost control and free cash flow generation. Our goal is to maintain our strong balance sheet and pursue only high return opportunities.”

Mr. Frates added, 
“On behalf of SandRidge, I offer my sincere thanks to Paul for his service to the Company and wish him all the best in his future endeavors.”

Mr. Suter commented: 
“I’m honored that the Board has selected me for this opportunity. I am excited to work with the talented and dedicated individuals at SandRidge as we advance initiatives in our assets and our organization to generate shareholder value.”

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