EX-25.1 11 d234441dex251.htm FORM T-1 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)

 

 

7.5% Senior Notes due 2021

 

 

 


And Guarantees

GUARANTORS

 

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

 

*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 TG3 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 25.1 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 23rd day of September, 2011.

 

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


EXHIBIT 6

September 23, 2011

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

LOGO

John C. Stohlmann
Vice President


EXHIBIT 7

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, 2011, 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

      $ 24,433   

Interest-bearing balances

        66,533   

Securities:

     

Held-to-maturity securities

        0   

Available-for-sale securities

        154,068   

Federal funds sold and securities purchased under agreements to resell:

     

Federal funds sold in domestic offices

        4,142   

Securities purchased under agreements to resell

        15,186   

Loans and lease financing receivables:

     

Loans and leases held for sale

        21,688   

Loans and leases, net of unearned income

     689,075      

LESS: Allowance for loan and lease losses

     17,922      

Loans and leases, net of unearned income and allowance

        671,153   

Trading Assets

        33,481   

Premises and fixed assets (including capitalized leases)

        8,103   

Other real estate owned

        4,705   

Investments in unconsolidated subsidiaries and associated companies

        566   

Direct and indirect investments in real estate ventures

        107   

Intangible assets

     

Goodwill

        20,936   

Other intangible assets

        25,816   

Other assets

        53,916   
     
     

 

 

 

Total assets

      $ 1,104,833   
     

 

 

 

LIABILITIES

     

Deposits:

     

In domestic offices

      $ 761,154   

Noninterest-bearing

     181,676      

Interest-bearing

     579,478      

In foreign offices, Edge and Agreement subsidiaries, and IBFs

        93,814   

Noninterest-bearing

     1,901      

Interest-bearing

     91,913      

Federal funds purchased and securities sold under agreements to repurchase:

     

Federal funds purchased in domestic offices

        3,170   

Securities sold under agreements to repurchase

        13,304   


          Dollar Amounts
In Millions
 

Trading liabilities

        20,222   

Other borrowed money

     

(includes mortgage indebtedness and obligations under capitalized leases)

        39,048   

Subordinated notes and debentures

        17,392   

Other liabilities

        31,532   
     
     

 

 

 

Total liabilities

      $ 979,636   

EQUITY CAPITAL

     

Perpetual preferred stock and related surplus

        0   

Common stock

        519   

Surplus (exclude all surplus related to preferred stock)

        99,145   

Retained earnings

        18,601   

Accumulated other comprehensive income

        5,614   

Other equity capital components

        0   
     
     

 

 

 

Total bank equity capital

        123,879   

Noncontrolling (minority) interests in consolidated subsidiaries

        1,318   
     

 

 

 

Total equity capital

        125,197   
     
     

 

 

 

Total liabilities, and equity capital

      $ 1,104,833   
     

 

 

 

I, Timothy J. Sloan, 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.

Timothy J. Sloan

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