A subsidiary of SandRidge Energy Inc. agreed to acquire producing oil and gas assets and leasehold interests in the Cherokee play of the US Mid‑Continent region from privately held Rockies Resources for $65 million in cash.

SandRidge will add about 3,000 boe/d (43% oil) and roughly 7,000 net leasehold acres. The acquisition covers interests in 21 wells and eight proved development locations, the company said.

SandRidge president and chief executive officer Grayson Pranin said the acquisition “bolsters our inventory with quality bolt‑on production and acreage that immediately offsets the area of our current drilling and leasing programs,” adding that the company has delivered strong results in the Cherokee since entering the play in 2024.

The play spans parts of Oklahoma and Kansas in the Western Anadarko basin.

The transaction, which includes three contingent earn‑out payments of $2 million each tied to average daily WTI spot prices, is expected to close in this year’s third quarter, subject to customary closing conditions.

Cherokee play development

In a March 2026 investor presentation, SandRidge said that in 2025, through a 1-rig operated drilling program, the company drilled and completed 6 wells in the Cherokee play and delivered an average per well peak 30-day IP rate of ~2,000 gross boe/d (~44% oil).

In that same presentation, prior to the acquisition announcement, the operator said that the 2026 plan for the play included drilling 10 and completing 8 new wells with an estimated oil production increase of about 20%. The operator, at the time, said all 2026 locations are extended reach (2-mile) laterals and that the majority are nearby proven or in-progress wells in Cherokee South. The company's working interest ranges are about 60-85%.