Exhibit 10.7.3

EXECUTION VERSION

AMENDMENT NO. 2

dated as of February 23, 2011

to the

AMENDED AND RESTATED

CREDIT AGREEMENT

dated as of April 22, 2010

among

SANDRIDGE ENERGY, INC.

as the Borrower,

BANK OF AMERICA, N.A.,

as Administrative Agent, Swing Line Lender and L/C Issuer

and

The Other Lenders Party Thereto

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AMENDMENT NO. 2

AMENDMENT (this “Amendment”) dated as of February 23, 2011 under the Amended and
Restated Credit Agreement dated as of April 22, 2010 (as amended, restated,
supplemented, or otherwise modified from time to time, the “Credit Agreement”)
among SANDRIDGE ENERGY, INC., a Delaware corporation (the “Borrower”), each
LENDER from time to time party thereto and BANK OF AMERICA, N.A., as
Administrative Agent (the “Administrative Agent”), Swing Line Lender and L/C
Issuer.

WHEREAS, the parties hereto desire to amend the Credit Agreement as set forth
herein;

NOW, THEREFORE, the parties hereto agree as follows:

Section 1. Defined Terms. Unless otherwise specifically defined herein, each
term used herein that is defined in the Credit Agreement has the meaning
assigned to such term in the Credit Agreement. Each reference to “hereof”,
“hereunder”, “herein” and “hereby” and each other similar reference and each
reference to “this Agreement” and each other similar reference contained in the
Credit Agreement shall, after this Amendment becomes effective, refer to the
Credit Agreement as amended hereby.

Section 2. Amendments to the Credit Agreement. The Credit Agreement is hereby
amended as follows:

(a) The following new defined term is added to Section 1.01 in appropriate
alphabetical position:

“Royalty Trust” means a statutory or business trust, the trustee of which is a
financial institution not affiliated with the Borrower, to which the Borrower or
one or more of its Subsidiaries conveys, or intends to convey, royalty
interests, net profits interests, or other similar mineral interests in the
production of hydrocarbons from properties to which no value was attributed in
the then most recent determination of the Borrowing Base, in exchange for units
of beneficial interests in the trust and all or part of the cash proceeds of an
underwritten public offering or a similar offering under Rule 144A of the
trust’s units. For the avoidance of doubt, SandRidge Mississippian Trust I shall
constitute a Royalty Trust.

(b) The definition of Consolidated Funded Indebtedness is amended by
(x) inserting the phrase “the excess of (i)” immediately following the phrase
“on a Consolidated basis,” and (y) adding the following at the end of the
existing text:

over (ii) (x) if there are no Loans outstanding on such date of determination,
the aggregate cash and Cash Equivalents of the Borrower and its Consolidated
Subsidiaries in excess of $10,000,000 and (y) if there are Loans outstanding on
such date of determination, zero.

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(c) The definition of Consolidated Net Income is amended by inserting the phrase
“any Royalty Trust or” immediately following the phrase “(v) the net income (or
loss) of”.

(d) The definition of Subsidiary is amended by (x) deleting “nor” immediately
preceding clause (iii) of the second sentence thereof and (y) adding “nor
(iv) any Royalty Trusts” immediately following said clause (iii).

(e) Section 7.02 is amended by (x) deleting the word “and” at the end of clause
(m), (y) changing the period at the end of clause (n) to “; and” and (z) adding
the following new clause (o):

(o) Investments in Royalty Trusts.

(f) Section 7.05 is amended by (x) deleting the word “and” at the end of clause
(k), (y), changing the period at the end of clause (l) to “; and” and (z) adding
the following new clause (m):

(m) Dispositions of assets to Royalty Trusts, and of interests in Royalty
Trusts.

(g) Section 7.11(a) is amended to read as follows:

(a) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as of
the end of any fiscal quarter of the Borrower to be greater than 4.5:1.0;
provided that, if at the end of any fiscal quarter prior to March 31, 2012, the
Senior Secured Leverage Ratio is less than 1.5:1.0, compliance with the
foregoing shall not be required at such fiscal quarter end.

(h) Section 7.09 is amended by (x) deleting the word “and” at the end of clause
(G), (y), changing the period at the end of clause (H) to “; and” and (z) adding
the following new clause (I):

(I) any restriction contained in a Contractual Obligation relating to property,
an interest in which has been Disposed of to a Royalty Trust, in accordance with
Section 7.05(m).

(i) Section 9.10 is amended by (x) deleting the word “and” at the end of clause
(b), (y), changing the period at the end of clause (c) to “; and” and (z) adding
the following new clause (d):

(d) and instruct the Administrative Agent to release (and the following shall
automatically be released without any further action on the part of any Person):
any Lien on any property (an interest in which has been Disposed of to a Royalty
Trust) granted to or held by the Administrative Agent under any Loan Document
if, and when, a Lien on such property is granted in favor of such Royalty Trust.

 

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Section 3. Fee. On the effective date of this Amendment, the Borrower shall pay
to the Administrative Agent for the account of the Lenders that consent to this
amendment a fee equal to 0.04% of the Borrowing Base attributable to such
Lenders.

Section 4. Representations of the Borrower. The Borrower represents and warrants
that, both before and immediately after giving effect to this Amendment pursuant
to Section 7 hereof, (i) the representations and warranties set forth in Article
5 of the Credit Agreement will be true and correct in all material respects and
(ii) no Default or Event of Default will have occurred and be continuing.

Section 5. Governing Law. This Amendment shall be governed by and construed in
accordance with the laws of the State of New York.

Section 6. Counterparts. This Amendment may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument. Delivery of an
executed counterpart of a signature page of this Amendment by telecopy shall be
effective as delivery of a manually executed counterpart of this Agreement.

Section 7. Effectiveness. This Amendment shall become effective on and as of the
date hereof provided that the Administrative Agent shall have received
counterparts hereof signed by each of the Borrower and the Required Lenders.

[Signature Pages Follow]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the date first above written.

 

SANDRIDGE ENERGY, INC. By:  

  /s/ James D. Bennett

  Name:   James D. Bennett   Title:   Chief Financial Officer

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BANK OF AMERICA, N.A., as Administrative Agent

By:  

  /s/ Alan Tapley

  Name:   Alan Tapley   Title:   Assistant Vice President

 

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BANK OF AMERICA, N.A., as a Lender,
Swing Line Lender and L/C Issuer

By:  

  /s/ Jeffrey H. Rathkamp

  Name:   Jeffrey H. Rathkamp   Title:   Managing Director

 

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BARCLAYS BANK PLC By:  

  /s/ Allen Huang

  Name:   Allen Huang   Title:   Assistant Vice President

 

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ROYAL BANK OF CANADA By:  

  /s/ Don J. McKinnerney

  Name:   Don J. McKinnerney   Title:   Authorized Signatory

 

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THE ROYAL BANK OF SCOTLAND PLC

By:   RBS SECURITIES INC., as Agent By:  

  /s/ Sandra Aultman

  Name:   Sandra Aultman   Title:   Director

 

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UNION BANK N.A. By:  

  /s/ Josh Patterson

  Name:   Josh Patterson   Title:   Vice President

 

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WELLS FARGO BANK, NA By:  

  /s/ Catherine Stacy

  Name:   Catherine Stacy   Title:   Assistant Vice President

 

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THE BANK OF NOVA SCOTIA By:  

  /s/ John Frazell

  Name:   John Frazell   Title:   Director

 

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BNP PARIBAS By:  

  /s/ Richard Hawthorne

  Name:   Richard Hawthorne   Title:   Director By:  

  /s/ Edward Pak

  Name:   Edward Pak   Title:   Vice President

 

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CAPITAL ONE BANK, N.A. By:  

  /s/ Matthew L. Molero

  Name:   Matthew L. Molero   Title:   Vice President

 

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CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK

By:  

  /s/ Mark A. Roche

  Name:   Mark A. Roche   Title:   Managing Director By:  

  /s/ Sharada Manne

  Name:   Sharada Manne   Title:   Director

 

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DEUTSCHE BANK TRUST COMPANY AMERICAS

By:  

  /s/ Enrique Landaeta

  Name:   Enrique Landaeta   Title:   Vice President By:  

  /s/ Erin Morrissey

  Name:   Erin Morrissey   Title:   Vice President

 

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JPMORGAN CHASE BANK, N.A. By:  

  /s/ Mark E. Olson

  Name:   Mark E. Olson   Title:   Authorized Officer

 

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BANK OF SCOTLAND PLC By:  

  /s/ Julia R. Franklin

  Name:   Julia R. Franklin   Title:   Assistant Vice President

 

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SUN TRUST BANK By:  

  /s/ Gregory C. Magnuson

  Name:   Gregory C. Magnuson   Title:   Vice President

 

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UBS LOAN FINANCE, LLC By:  

  /s/ Irja R. Otsa

  Name:   Irja R. Otsa   Title:   Associate Director     Banking Products
Services, US By:  

  /s/ Mary E. Evans

  Name:   Mary E. Evans   Title:   Associate Director     Banking Products
Services, US

 

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COMERICA BANK By:  

  /s/ John S. Lesikar

  Name:   John S. Lesikar   Title:   Assistant Vice President

 

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ALLIED IRISH BANKS P.L.C. By:  

  /s/ Vaughn Buck

  Name:   Vaughn Buck   Title:   Director By:  

  /s/ Aidan Lanigan

  Name:   Aidan Lanigan   Title:   Vice President

 

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COMPASS BANK By:  

  /s/ Ian Payne

  Name:   Ian Payne   Title:   Vice President

 

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CREDIT SUISSE AG, CAYMAN
ISLANDS BRANCH

By:  

  /s/ Nupur Kumar

  Name:   Nupur Kumar   Title:   Vice President By:  

  /s/ Vipul Dhadda

  Name:   Vipul Dhadda   Title:   Associate

 

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KEYBANK NATIONAL ASSOCIATION By:  

  /s/ David Morris

  Name:   David Morris   Title:   Vice President

 

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BANK OF OKLAHOMA, N.A. By:  

  /s/ Mike Weatherholt

  Name:   Mike Weatherholt   Title:   Assistant Vice President

 

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GOLDMAN SACHS BANK USA By:  

  /s/ Lauren Day

  Name:   Lauren Day   Title:   Authorized Signatory

 

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MIDFIRST BANK By:  

  /s/ Steve A. Griffin

  Name:   Steve A. Griffin   Title:   Senior Vice President

 

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MORGAN STANLEY BANK, N.A. By:  

  /s/ Frank Jolley

  Name:   Frank Jolley   Title:   Authorized Signatory

 

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