About SandRidge Mississippian Trust II

SandRidge Mississippian Trust II, a statutory trust, holds royalty interests in specified oil and natural gas properties located in the Mississippian formation in Alfalfa, Grant, Kay, Noble, and Woods counties in northern Oklahoma; and Barber, Comanche, Harper and Sumner counties in southern Kansas (the Underlying Properties). The Royalty Interests were conveyed by SandRidge Energy, Inc. (SandRidge) to the company. The Royalty Interests entitle the company to receive 80% of the proceeds (after deducting post-production costs and any applicable taxes) from the sale of oil, natural gas and natural gas liquids (NGL) production attributable to SandRidge’s net revenue interest in 54 wells producing at December 31, 2011 and 13 additional wells awaiting completion at that time (together, the ‘Initial Wells’); and 70% of the proceeds (after deducting post-production costs and any applicable taxes) from the sale of oil, natural gas and NGL production attributable to SandRidge’s net revenue interest in 206 horizontal oil and natural gas development wells drilled (the ‘Trust Development Wells’) within an area of mutual interest. As of December 31, 2019, the company’s properties consisted of Royalty Interests in the Initial Wells and 173 additional wells (equivalent to approximately 206 Trust Development Wells under the development agreement) that were drilled and perforated for completion between December 31, 2011 and March 31, 2015. A majority of the Royalty Interests are in properties producing from the Mississippian formation in Oklahoma and Kansas. Marketing and Customers SandRidge has the responsibility to market, or cause to be marketed, the oil, natural gas and NGL production attributable to the Underlying Properties. SandRidge sells oil, natural gas and NGL from the Underlying Properties to various customers, including oil and natural gas companies and trading and energy marketing companies. For the year ended December 31, 2019, sales of production attributable to the Royalty Interests approximately 10% of the company’s total revenues were made to two oil or natural gas purchasers, such as Targa Pipeline Mid-Continent West OK LLC and Plains All American, Inc. History SandRidge Mississippian Trust II was founded as statutory trust in 2011 under the Delaware Statutory Trust Act. The company was incorporated in 2011.