OKLAHOMA
CITY, Oct. 1, 2024 /PRNewswire/ -- SandRidge
Energy, Inc. (the "Company" or "SandRidge") (NYSE: SD) today
announced changes to the Board and Management that will further
position the Company to execute on its strategy.
Vincent ("Vince") Intrieri has been appointed by the Board, by
recommendation of the Nominating and Governance Committee, as
Chairman effective October 1,
2024.
Mr. Intrieri is the Founder and CEO of VDA Capital Management
LLC, a private investment fund founded in 2017. Mr. Intrieri was
previously employed by Carl C.
Icahn-related entities in various investment-related
capacities from 1998 to 2016. From 2008 to 2016, Mr. Intrieri
served as Senior Managing Director of Icahn Capital LP, the entity
through which Carl C. Icahn manages
private investment funds. In addition, from 2004 to 2016, Mr.
Intrieri was a Senior Managing Director of Icahn Onshore LP, the
general partner of Icahn Partners LP, and Icahn Offshore LP, the
general partner of Icahn Partners Master Fund LP, entities through
which Mr. Icahn invests in securities. Mr. Intrieri has served as a
director of Transocean Ltd. (NYSE: RIG) since 2014 and Hertz Global
Holdings, Inc. (NYSE: HTZ) since 2014. Mr. Intrieri previously
served as a director of Navistar International Corporation from
2012 until 2021, Energen Corporation from March 2018 until November
2018, Conduent Incorporated from 2017 to 2018, Chesapeake
Energy Corporation from 2012 to 2016, CVR Refining, GP, LLC, the
general partner of CVR Refining, LP, from 2012 to 2014, Ferrous
Resources Limited from 2015 to 2016, Forest Laboratories Inc. from
2013 to 2014, CVR Energy, Inc. from 2012 to 2014, Federal-Mogul
Holdings Corporation from 2007 to 2013, Icahn Enterprises L.P. from
2006 to 2012, and was Senior Vice President of Icahn Enterprises
L.P. from 2011 to 2012. Mr. Intrieri was also a director of Dynegy
Inc. from 2011 to 2012, and Chair and a director of PSC Metals Inc.
from 2007 to 2012. He served as a director of Motorola Solutions,
Inc. from 2011 to 2012, XO Holdings from 2006 to 2011, National
Energy Group, Inc. from 2006 to 2011, American Railcar Industries,
Inc. from 2005 to 2011, WestPoint Home LLC from 2005 to 2011, and
as Chair and a director of Viskase Companies, Inc. from 2003 to
2011. Ferrous Resources Limited, CVR Refining, CVR Energy, American
Railcar Industries, Federal-Mogul, Icahn Enterprises, XO Holdings,
National Energy Group, WestPoint Home, Viskase Companies and PSC
Metals each are or previously were indirectly controlled by
Carl C. Icahn. Mr. Icahn also has or
previously had a noncontrolling interest in Dynegy, Hertz, Forest
Laboratories, Navistar, Chesapeake Energy, Motorola Solutions and
Transocean through the ownership of securities. Mr. Intrieri
graduated, with Distinction, from The Pennsylvania State University (Erie Campus) with a
B.S. in Accounting in 1984. Mr. Intrieri was a certified public
accountant.
Mr. Intrieri said, "I am eager to join SandRidge as Chairman of
the Board while the Company enters its next chapter. We plan to
keep the organization lean while continuing to pursue capital
returns, efficient drilling programs and other disciplined growth
opportunities. I want to thank Jonathan for his service over the
past six years and look forward to working with him and the team on
the next phase of the business."
Jonathan Frates will step down as
Chairman of the Board, effective October 1,
2024, to transition to the role of Executive Vice President
and Chief Financial Officer, effective October 21, 2024.
Mr. Frates has served most recently as Investment Director of
Vision One Management Partners, a Miami-based investment manager from
July 2022 through September 2024. Prior to Vision One, Mr. Frates
served as Managing Director and Head of Family Office of Daughters
Capital Corp., a single-family office from July 2021 through June
2022, and as Managing Director of Icahn Enterprises L.P., a
diversified holding company engaged in a variety of businesses,
from November 2015 through
July 2021. Prior to Icahn
Enterprises, Mr. Frates held roles at First Acceptance Corp.,
Diamond A Ford Corp., and Wachovia Securities LLC. Mr. Frates has
served as Chairman of the Board of Directors of the Company since
June 2018. Mr. Frates previously
served as a director of Herc Holdings, Inc. from August 2019 until May
2022, VIVUS, Inc. from December
2020 until July 2021, Viskase
Companies, Inc. from March 2016 until
July 2021, American Railcar
Industries, Inc. from March 2016
until December 2018, CVR Refining, LP
from April 2016 until January 2019, Ferrous Resources Ltd. from
December 2016 until July 2019, CVR Partners from April 2016 until July
2021, and CVR Energy, Inc. from March
2016 until July 2021. Mr.
Frates received a BBA from Southern Methodist
University and an MBA from Columbia
Business School.
Mr. Frates said, "Following the recent Anadarko Basin acquisition I see the
opportunity to join the team at SandRidge too compelling to
pass up. The Company provides a stable platform and proven team to
efficiently grow production and continue creating value for all
stakeholders. I look forward to working even more closely with the
team and welcome our new Chairman to the Board. I am excited for
the future of SandRidge and the opportunity that lies ahead."
Brandon Brown, Sr., will assume
the role of Senior Vice President, Chief Accounting Officer. Mr.
Brown most recently served as Chief Financial Officer since
September 2023 and as the Company's
Corporate Controller since June 2020.
Grayson Pranin, Chief Executive
Officer, said, "We appreciate Brandon's leadership over the last
several years, and for his continued efforts in leading the
Company's Accounting activities. The further strengthened team,
with Brandon's continuity in accounting, Jonathan's experience in
finance, M&A and public markets, as well as Vince's own
demonstrable leadership and experience in the public and energy
sectors, will further position the Company to execute its strategy,
while integrating the assets associated with our recent
acquisition."
About SandRidge Energy, Inc.
SandRidge Energy, Inc. (NYSE: SD) is an independent oil and gas
company engaged in the production, development and acquisition of
oil and gas properties. Its primary area of operations is the
Mid-Continent and Anadarko regions
in Oklahoma, Texas, and Kansas. Further information can be found at
www.sandridgeenergy.com.
Contact Information
Investor Relations
SandRidge Energy, Inc.
1 E. Sheridan Ave. Suite 500
Oklahoma City, OK 73104
investors@sandridgeenergy.com
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SOURCE SANDRIDGE ENERGY, INC.