NFR Energy LLC - 2011-08-16

SandRidge Permian Trust has closed its initial public offering of 34,500,000 common units, including 4,500,000 common units sold pursuant to the exercise of the underwriters' over-allotment option, representing a 66% beneficial interest in the Trust. SandRidge Energy Inc. (NYSE: SD), as sponsor of the Trust, owns 4,875,000 common units and 13,125,000 subordinated units convertible into common units. The Trust has a total of 52,500,000 trust units outstanding. The common units trade on the New York Stock Exchange under the symbol "PER."

Gross proceeds of the transaction, before the underwriting discount, were $621 million. Before payment of offering expenses, SandRidge received approximately $584 million as partial consideration for the conveyance of the royalty interests held by the Trust.