04:42 AM EDT, 07/30/2024 (MT Newswires) -- SandRidge Energy ( SD ) said late Monday it has agreed to acquire certain producing assets and leasehold interests in the Cherokee play of the Western Anadarko Basin for $144 million in cash.

The company also entered into a joint development agreement governing its participation in the future development of specific acquired leasehold interests.

SandRidge said the acquisition, expected to close in Q3, will be immediately accretive to key metrics, including production, EBITDA and free cash flow.

The assets are located within the Mid-Continent region, including 42 producing wells in addition to four drilled uncompleted wells due to start production in 2024, the company said.

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