EX-25.1 10 dex251.htm STATEMENT OF ELIGIBILITY AND QUALIFICATION ON FORM T-1 Statement of Eligibility and Qualification on Form T-1

Exhibit 25.1

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

 

¨ CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2)

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Exact name of trustee as specified in its charter)

 

 

 

A National Banking Association   94-1347393

(Jurisdiction of incorporation or

organization if not a U.S. national bank)

 

(I.R.S. Employer

Identification No.)

101 North Phillips Avenue  
Sioux Falls, South Dakota   57104
(Address of principal executive offices)   (Zip code)

Wells Fargo & Company

Law Department, Trust Section

MAC N9305-175

Sixth Street and Marquette Avenue, 17th Floor

Minneapolis, Minnesota 55479

(612) 667-4608

(Name, address and telephone number of agent for service)

 

 

SANDRIDGE ENERGY INC

(Exact name of obligor as specified in its charter)

 

Delaware   20-8084793

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)


123 Robert S. Kerr Avenue

Oklahoma City, Oklahoma 73102

TELEPHONE: (405) 429-5500

(Address, Including Zip Code, and Telephone Number, Including Area

Code, of Registrant’s Principal Executive Offices)

 

 

8.750% Senior Notes due 2020

And Guarantees of 8.750% Senior Notes due 2020

ADDITIONAL GUARANTOR REGISTRANTS*

 

Exact name of

Additional Registrant as

Specified in it Charter

 

State of

Incorporation or

Organization

 

IRS

Employee

Identification No.

SandRidge Onshore, LLC

  Delaware   47-0953489

Lariat Services, Inc.

  Texas   75-2500702

SandRidge Operating Company

  Texas   75-2541245

Integra Energy, L.L.C.

  Texas   75-2887527

SandRidge Exploration and Production, LLC

  Delaware   87-0776535

SandRidge Tertiary, LLC

  Texas   20-1918006

SandRidge Midstream, Inc.

  Texas   75-2541148

SandRidge Offshore, LLC

  Delaware   11-3758786

SandRidge Holdings, Inc.

  Delaware   20-5878401

*Each Guarantor has the same principal executive office and phone number as SandRidge Energy, Inc.

 

 

 


Item 1. General Information. Furnish the following information as to the trustee:

 

  (a) Name and address of each examining or supervising authority to which it is subject.

 

       Comptroller of the Currency
       Administrator of National Banks
       United States Department of the Treasury
       Washington, D.C. 20219

 

       Federal Deposit Insurance Corporation
      

550 17th Street, N.W.

       Washington, D.C. 20429

 

       Federal Reserve Bank of San Francisco
       P.O. Box 7702
       San Francisco, CA 94120

 

  (b) Whether it is authorized to exercise corporate trust powers.

 

       The trustee is authorized to exercise corporate trust powers.

Item 2. Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.

 

  None with respect to the trustee.

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

Item 15. Foreign Trustee. Not applicable.

Item 16. List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.

 

Exhibit 1.    A copy of the Articles of Association of the trustee now in effect.*
Exhibit 2.    A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.**
Exhibit 3.    See Exhibit 2
Exhibit 4.    Copy of By-laws of the trustee as now in effect.***
Exhibit 5.    Not applicable.
Exhibit 6.    The consent of the trustee required by Section 321(b) of the Act.
Exhibit 7.    A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
Exhibit 8.    Not applicable.
Exhibit 9.    Not applicable.

 

* Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of Hornbeck Offshore Services LLC file number 333-130784-06.

 

** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.

 

*** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated May 26, 2005 of Penn National Gaming Inc. file number 333-125274.


SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Dallas and State of Texas on the 9th day of September, 2010.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION
/s/ John C. Stohlmann
John C. Stohlmann
Vice President


EXHIBIT 6

September 9, 2010

 

Securities and Exchange Commission

Washington, D.C. 20549

Gentlemen:

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request thereof.

 

Very truly yours,

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ John C. Stohlmann

John C. Stohlmann

Vice President


Consolidated Report of Condition of

Wells Fargo Bank National Association

of 101 North Phillips Avenue, Sioux Falls, SD 57104

And Foreign and Domestic Subsidiaries,

at the close of business June 30, 2010, filed in accordance with 12 U.S.C. §161 for National Banks.

 

          Dollar Amounts
In Millions

ASSETS

     

Cash and balances due from depository institutions:

     

Noninterest-bearing balances and currency and coin

      $ 18,090

Interest-bearing balances

        59,995

Securities:

     

Held-to-maturity securities

        0

Available-for-sale securities

        136,426

Federal funds sold and securities purchased under agreements to resell:

     

Federal funds sold in domestic offices

        1,213

Securities purchased under agreements to resell

        4,560

Loans and lease financing receivables:

     

Loans and leases held for sale

        26,936

Loans and leases, net of unearned income

   697,216   

LESS: Allowance for loan and lease losses

   20,992   

Loans and leases, net of unearned income and allowance

        676,224

Trading Assets

        32,627

Premises and fixed assets (including capitalized leases)

        8,206

Other real estate owned

        4,564

Investments in unconsolidated subsidiaries and associated companies

        562

Direct and indirect investments in real estate ventures

        122

Intangible assets

     

Goodwill

        21,005

Other intangible assets

        25,903

Other assets

        56,847
         

Total assets

      $ 1,073,280
         

LIABILITIES

     

Deposits:

     

In domestic offices

      $ 719,242

Noninterest-bearing

   153,912   

Interest-bearing

   565,330   

In foreign offices, Edge and Agreement subsidiaries, and IBFs

        97,865

Noninterest-bearing

   1,563   

Interest-bearing

   96,302   

Federal funds purchased and securities sold under agreements to repurchase:

     

Federal funds purchased in domestic offices

        6,073

Securities sold under agreements to repurchase

        14,292

 


     Dollar Amounts
In Millions

Trading liabilities

     15,806

Other borrowed money

  

(includes mortgage indebtedness and obligations under capitalized leases)

     45,602

Subordinated notes and debentures

     21,152

Other liabilities

     28,056
      

Total liabilities

   $ 948,088

EQUITY CAPITAL

  

Perpetual preferred stock and related surplus

     0

Common stock

     519

Surplus (exclude all surplus related to preferred stock)

     98,774

Retained earnings

     19,082

Accumulated other comprehensive income

     5,510

Other equity capital components

     0
      

Total bank equity capital

     123,885

Noncontrolling (minority) interests in consolidated subsidiaries

     1,307
      

Total equity capital

     125,192
      

Total liabilities, and equity capital

   $ 1,073,280
      

I, Howard I. Atkins, EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.

 

Howard I. Atkins

EVP & CFO    

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

 

John Stumpf                                              Directors

Carrie Tolstedt

Michael Loughlin