SANDRIDGE MISSISSIPPIAN TRUST I (NYSE:SDR) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure
On December 19, 2018, SandRidge Mississippian Trust I (the “Trust”) issued a press release announcing that its trustee, The Bank of New York Mellon Trust Company, N.A. (the “Trustee”), has determined to gradually increase the Trustee’s existing cash reserve for the payment of future expenses and liabilities of the Trust, as permitted by the trust agreement. A copy of the press release is furnished as Exhibit99.1 hereto and is incorporated herein by reference.
Item 7.01. Financial Statements and Exhibits.
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99.1 |
Press Release dated December 19, 2018.
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SandRidge Mississippian Trust I Exhibit
EX-99.1 2 sdt8k121918.htm EXHIBIT 99.1 Exhibit Exhibit 99.1SandRidge Mississippian Trust I Announces Planned Increase in Existing Cash ReserveSANDRIDGE MISSISSIPPIAN TRUST IThe Bank of New York Mellon Trust Company,…
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About SANDRIDGE MISSISSIPPIAN TRUST I (NYSE:SDR)
SandRidge Mississippian Trust II is a statutory trust. The royalty interests conveyed by SandRidge Energy, Inc. (SandRidge) from its interests in certain properties in the Mississippian formation in northern Oklahoma and southern Kansas and held by the Trust are referred to as the Royalty Interests. The Trust holds Royalty Interests in specified oil and natural gas properties. The Royalty Interests entitle the Trust to receive approximately 80% of the proceeds from the sale of oil, natural gas and natural gas liquids (NGLs) production attributable to SandRidge’s net revenue interest in approximately 50 wells producing and over 10 additional wells awaiting (together, the Initial Wells), and over 70% of the proceeds from the sale of oil, natural gas and NGL production attributable to SandRidge’s net revenue interest in approximately 200 horizontal oil and natural gas development wells drilled (the Trust Development Wells) within an area of mutual interest (AMI).