Document:

Form of Administrative Services Agreement

 Exhibit 10.6 
 ADMINISTRATIVE SERVICES AGREEMENT 
 This Administrative Services Agreement
(this “Agreement”) by and between SandRidge Energy, Inc., a Delaware corporation, with offices at 123 Robert S. Kerr Avenue, Oklahoma City, OK 73102-6406 (the “Company”), and SandRidge Mississippian Trust I, a
statutory trust formed under the laws of the State of Delaware (the “Trust”) is delivered to be effective as of 12:01 a.m., Central Time, January 1, 2011 (the “Effective Time”). All capitalized terms not otherwise
defined herein shall have the meanings ascribed to such terms in Article I below. 
 WHEREAS, pursuant to that certain Term
Overriding Royalty Interest Conveyance (PDP), that certain Term Overriding Royalty Interest Conveyance (PUD), that certain Perpetual Overriding Royalty Interest Conveyance (PDP) and that certain Perpetual Overriding Royalty Interest Conveyance
(PUD), each effective as of the Effective Time (collectively, the “Conveyances”), SandRidge Exploration and Production, LLC has caused to be conveyed to the Trust or Mistmada Oil Company, Inc., an Oklahoma corporation (the
“Company Subsidiary”), as applicable, royalty interests in certain oil and natural gas properties located in Alfalfa, Garfield, Grant, Major and Woods Counties, Oklahoma (the “Royalty Interests”); 

WHEREAS, the Company Subsidiary has assigned all of its Royalty Interests to the Trust, and consequently the Trust holds all of the
Royalty Interests; and 
 WHEREAS, in connection with the Conveyances, the Company has agreed to provide certain administrative
services for the Trust in exchange for an administrative services fee as described herein. 
 NOW, THEREFORE, in consideration
of the premises and the covenants hereinafter contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intended to be legally bound hereby, it is agreed as follows: 

ARTICLE I 

DEFINITIONS 
 Section 1.01 Definitions. As used in this Agreement, the following terms have the respective meanings set forth below: 
 “AAA” has the meaning set forth in Section 2.06. 

“Administrative Services Fee” has the meaning set forth in Section 3.01. 

“Affiliate” means, for any specified Person, another Person that controls, is controlled by, or is under common control with,
the specified Person. “Control,” in the preceding sentence, refers to the possession by one Person, directly or indirectly, of the right or power to direct or cause the direction of the management and policies of another Person, whether
through the ownership of voting securities, by contract or otherwise. 

 “Agreement” has the meaning set forth in the introductory paragraph to this
Agreement. 
 “Business Day” means any day that is not a Saturday, Sunday, a holiday determined by the New York Stock
Exchange, Inc. as “affecting ‘ex’ dates” or any other day on which national banking institutions in New York, New York are closed as authorized or required by law. 

“Claimant” has the meaning set forth in Section 2.06. 

“Company” has the meaning set forth in the introductory paragraph to this Agreement. 

“Company Subsidiary” has the meaning set forth in the recitals to this Agreement. 

“Conveyances” has the meaning set forth in the recitals to this Agreement. 

“Development Agreement” means that certain Development Agreement, effective as of the Effective Time, between the Company,
SandRidge Exploration and Production, LLC, and the Trust, as the same may be amended from time to time. 
 “Effective
Time” has the meaning set forth in the introductory paragraph to this Agreement. 
 “External Expenses” means the
actual out-of-pocket fees, costs and expenses incurred by the Company in connection with the provision of the Services. 

“Force Majeure” shall mean any cause beyond the reasonable control of the Company, including acts of God, strikes, lockouts,
acts of the public enemy, wars or warlike action (whether actual or impending), arrests and other restraints of government (civil or military), blockades, embargoes, insurrections, riots, epidemics, landslides, lightning, earthquakes, fires,
sabotage, tornadoes, named tropical storms and hurricanes, and floods, civil disturbances, terrorism, mechanical breakdown of machinery or equipment, explosions, confiscation or seizure by any government or other public authority, any order of any
court of competent jurisdiction, regulatory agency or governmental body having jurisdiction. 
 “Person” means any
natural person, corporation, partnership, trust, estate or other entity, organization, or association. 
 “Registration
Rights Agreement” means that certain Registration Rights Agreement, dated as of [            ], 2011, by and between the Trust and the Company. 

“Respondent” has the meaning set forth in Section 2.06. 

“Royalty Interests” has the meaning set forth in the recitals to this Agreement. 

“Rules” has the meaning set forth in Section 2.06. 

  
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 “Services” has the meaning set forth in Section 2.01. 

“Special Provision” has the meaning set forth in Section 2.06. 

“Termination Date” has the meaning set forth in Section 5.01. 

“Trust” has the meaning set forth in the introductory paragraph to this Agreement. 

“Trust Agreement” means the Amended and Restated Trust Agreement of the Trust, dated as of
[            ] (as may be amended from time to time), among SandRidge Energy, Inc., the Trustee and Corporation Trust Company, as Delaware Trustee. 

“Trustee” means The Bank of New York Mellon Trust Company, N.A., a national banking association organized under the laws of the
United States of America with its principal place of business in New York, New York, as trustee, acting not in its individual capacity but solely as trustee of the Trust. 
 Section 1.02 Construction. Unless the context requires otherwise: (a) any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the
singular form of nouns, pronouns and verbs shall include the plural and vice versa; (b) references to Articles and Sections refer to Articles and Sections of this Agreement; (c) the terms “include,” “includes,”
“including” or words of like import shall be deemed to be followed by the words “without limitation;” and (d) the terms “hereof,” “herein” or “hereunder” refer to this Agreement as a whole and
not to any particular provision of this Agreement. The headings contained in this Agreement are for reference purposes only, and shall not affect in any way the meaning or interpretation of this Agreement. 

ARTICLE II 

SERVICES 

Section 2.01 Services. Subject to the terms of this Agreement and in exchange for the payments described in
Section 3.01, the Company hereby agrees to provide the Trust with such services as are necessary to fulfill the purposes of the Trust as set forth in Section 2.02 of the Trust Agreement, such other administrative services of similar
character and scope to the foregoing and any other administrative services that may be required to satisfy the Trust’s obligations under the Registration Rights Agreement, that the Trust may reasonably request the Company provide during the
term of this Agreement, including such accounting, bookkeeping and informational services as may be necessary for the preparation of reports the Trust is or may be required to prepare and/or file in accordance with applicable tax and securities
laws, exchange listing rules and other requirements, including reserve reports, tax returns and Forms K-1 (all of the foregoing being herein called the “Services”). 

Section 2.02 Performance of Services by Others. The parties hereby agree that in discharging the Company’s obligations
under this Agreement, the Company may, in its sole discretion, engage any other Person, including its Affiliates, to perform the Services (or any part of the Services) on its behalf and that, subject to the Company’s right to reimbursement for
External Expenses in accordance with this Agreement, the performance of the Services (or any part of the Services) by any such Person shall be treated as if the Company performed such 

  
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Services itself. Notwithstanding the foregoing, nothing contained herein shall relieve the Company of its obligations hereunder. 

Section 2.03 Intellectual Property. Any (a) inventions, whether patentable or not, developed or invented, or
(b) copyrightable material (and the intangible rights of copyright therein) developed, in each case by the Company, its Affiliates or its or their employees in connection with the performance of the Services shall be the property of the
Company; provided, however, that the Trust shall be granted an irrevocable, royalty-free, non-exclusive and non-transferable right and license to use such inventions or material; and provided further, however, that the Trust shall only be granted
such a right and license to the extent such grant does not conflict with, or result in a breach, default or violation of a right or license to use such inventions or material granted to the Company by any Person other than an Affiliate of the
Company. Notwithstanding the foregoing, the Company will use all commercially reasonable efforts to grant such right and license to the Trust. 
 Section 2.04 Independent Status. It is expressly acknowledged by the parties hereto that each party is an “independent contractor” and nothing in this Agreement is intended nor shall
be construed to create an employer/employee, joint venture or partnership relationship, or to allow any party to exercise control or direction over the other party. Except as required in connection with the performance of the Services, neither the
Company nor any agent, employee, servant, contractor or subcontractor of the Company or any of its Affiliates shall have the authority to bind the Trust to any contract or arrangement. Neither the Trust nor the Trustee shall be liable for the
salary, wages or benefits, including workers’ compensation insurance and unemployment insurance, of any employee, agent, servant, contractor or subcontractor of the Company or its Affiliates by virtue of this Agreement. The Company shall not be
a fiduciary with respect to the Trust and shall owe no fiduciary duties or liabilities to the Trust. 
 Section 2.05
Warranties; Limitation of Liability. The Company will use commercially reasonable efforts to provide the Services in a good and workmanlike manner in accordance with the sound and prudent practices of providers of similar services. EXCEPT AS SET
FORTH IN THE PRECEDING SENTENCE, THE COMPANY MAKES NO (AND HEREBY DISCLAIMS AND NEGATES ANY AND ALL) WARRANTIES OR REPRESENTATIONS WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT TO THE SERVICES. IN NO EVENT WILL THE COMPANY OR ANY OF ITS AFFILIATES BE
LIABLE TO ANY OF THE PERSONS RECEIVING ANY SERVICES OR TO ANY OTHER PERSON FOR ANY EXEMPLARY, PUNITIVE, DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR SPECIAL DAMAGES RESULTING FROM ANY ERROR IN THE PERFORMANCE OF SUCH SERVICES, REGARDLESS OF
WHETHER THE PERSON PROVIDING SUCH SERVICES, ITS AFFILIATES OR OTHERS MAY BE WHOLLY, CONCURRENTLY, PARTIALLY OR SOLELY NEGLIGENT OR OTHERWISE AT FAULT, EXCEPT TO THE EXTENT SUCH EXEMPLARY, PUNITIVE, DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR
SPECIAL DAMAGES ARE PAID BY THE PARTY INCURRING SUCH DAMAGES TO A PERSON THAT IS NOT A PARTY TO THIS AGREEMENT. THE PROVISIONS OF THIS SECTION 2.05 WILL SURVIVE TERMINATION OF THIS AGREEMENT. 

  
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 Section 2.06 Disputes. ANY DISPUTE, CONTROVERSY OR CLAIM THAT MAY ARISE BETWEEN
OR AMONG THE COMPANY (ON THE ONE HAND) AND THE TRUST (ON THE OTHER HAND) IN CONNECTION WITH OR OTHERWISE RELATING TO THIS AGREEMENT, THE NATURE OR QUALITY OF THE SERVICES, THE CALCULATION OR ALLOCATION OF THE ADMINISTRATIVE SERVICES FEE OR EXTERNAL
EXPENSES OR THE APPLICATION, IMPLEMENTATION, VALIDITY OR BREACH OF THIS AGREEMENT, SHALL BE FINALLY, CONCLUSIVELY AND EXCLUSIVELY SETTLED BY BINDING ARBITRATION IN OKLAHOMA CITY, OKLAHOMA (IF NO SUCH OFFICE EXISTS, IN THE DALLAS, TEXAS OFFICE OF
AAA) IN ACCORDANCE WITH THE COMMERCIAL ARBITRATION RULES (THE “RULES”) OF THE AMERICAN ARBITRATION ASSOCIATION OR ANY SUCCESSOR THERETO (“AAA”) THEN IN EFFECT. THE COMPANY AND THE TRUST HEREBY EXPRESSLY WAIVE THEIR
RIGHT TO SEEK REMEDIES IN COURT, INCLUDING THE RIGHT TO TRIAL BY JURY, WITH RESPECT TO ANY MATTER SUBJECT TO ARBITRATION PURSUANT TO THIS SECTION 2.06. EITHER THE COMPANY OR THE TRUST MAY BRING AN ACTION, INCLUDING A SUMMARY OR EXPEDITED PROCEEDING,
IN ANY COURT HAVING JURISDICTION, TO COMPEL ARBITRATION OF ANY DISPUTE, CONTROVERSY OR CLAIM TO WHICH THIS SECTION 2.06 APPLIES. EXCEPT WITH RESPECT TO THE FOLLOWING PROVISIONS (THE “SPECIAL PROVISIONS”) WHICH SHALL APPLY WITH
RESPECT TO ANY ARBITRATION PURSUANT TO THIS SECTION 2.06, THE INITIATION AND CONDUCT OF ARBITRATION SHALL BE AS SET FORTH IN THE RULES, WHICH RULES ARE INCORPORATED IN THIS AGREEMENT BY REFERENCE WITH THE SAME EFFECT AS IF THEY WERE ACTUALLY PRINTED
HEREIN. 
 (a) In the event of any inconsistency between the Rules and the Special Provisions, the Special Provisions shall
control. References in the Rules to a sole arbitrator shall be deemed to refer to the tribunal of arbitrators provided for under subparagraph (c) below in this Section 2.06. 

(b) The arbitration shall be administered by AAA. 
 (c) The arbitration shall be conducted by a tribunal of three arbitrators. Within ten days after arbitration is initiated pursuant to the Rules, the initiating party or parties (the
“Claimant”) shall send written notice to the other party or parties (the “Respondent”), with a copy to the Oklahoma City, Oklahoma office of AAA (if no such office exists, to the Dallas, Texas office of AAA),
designating the first arbitrator (who shall not be a representative or agent of any party but may or may not be an AAA panel member and, in any case, shall be reasonably believed by the Claimant to possess the requisite experience, education and
expertise in respect of the matters to which the claim relates to enable such person to completely perform arbitral duties). Within ten days after receipt of such notice, the Respondent shall send written notice to the Claimant, with a copy to the
Oklahoma City, Oklahoma office of AAA (if no such office exists, to the Dallas, Texas office of AAA) and to the first arbitrator, designating the second arbitrator (who shall not be a representative or agent of any party, but may or may not be an
AAA panel member and, in any case, shall be reasonably believed by the Respondent to possess the requisite experience, education and expertise in respect of the matters to which the claim relates to enable such person to competently perform arbitral
duties). Within ten days after such 

  
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notice from the Respondent is received by the Claimant, the Respondent and the Claimant shall cause their respective designated arbitrators to select any mutually agreeable AAA panel member as
the third arbitrator. If the respective designated arbitrators of the Respondent and the Claimant cannot so agree within said ten day period, then the third arbitrator will be determined pursuant to the Rules. For purposes of this Section 2.06,
the Company (on the one hand) and the Trust (on the other hand) shall each be entitled to the selection of one arbitrator. Prior to commencement of the arbitration proceeding, each arbitrator shall have provided the parties with a resume outlining
such arbitrator’s background and qualifications and shall certify that such arbitrator is not a representative or agent of any of the parties. If any arbitrator shall die, fail to act, resign, become disqualified or otherwise cease to act, then
the arbitration proceeding shall be delayed for fifteen days and the party by or on behalf of whom such arbitrator was appointed shall be entitled to appoint a substitute arbitrator (meeting the qualifications set forth in this Section 2.06)
within such fifteen day period; provided, however, that if the party by or on behalf of whom such arbitrator was appointed shall fail to appoint a substitute arbitrator within such fifteen day period, the substitute arbitrator shall be a neutral
arbitrator appointed by the AAA arbitrator within fifteen days thereafter. 
 (d) All arbitration hearings shall be commenced
within one hundred twenty days after arbitration is initiated pursuant to the Rules, unless, upon a showing of good cause by a party to the arbitration, the tribunal of arbitrators permits the extension of the commencement of such hearing; provided,
however, that any such extension shall not be longer than sixty days. 
 (e) All claims presented for arbitration shall be
particularly identified and the parties to the arbitration shall each prepare a statement of their position with recommended courses of action. These statements of position and recommended courses of action shall be submitted to the tribunal of
arbitrators chosen as provided hereinabove for binding decision. The tribunal of arbitrators shall not be empowered to make decisions beyond the scope of the position papers. 
 (f) The arbitration proceeding will be governed by the substantive laws of the State of New York and will be conducted in accordance with such procedures as shall be fixed for such purpose by the tribunal
of arbitrators, except that (i) discovery in connection with any arbitration proceeding shall be conducted in accordance with the Federal Rules of Civil Procedure and applicable case law, (ii) the tribunal of arbitrators shall have the
power to compel discovery and (iii) unless the parties otherwise agree and except as may be provided in this Section 2.06, the arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. §§ 1-16, to the exclusion
of any provision of state law or other applicable law or procedure inconsistent therewith or which would produce a different result. The parties shall preserve their right to assert and to avail themselves of the attorney-client and
attorney-work-product privileges, and any other privileges to which they may be entitled pursuant to applicable law. No party to the arbitration or any arbitrator may compel or require mediation and/or settlement conferences without the prior
written consent of all such parties and the tribunal of arbitrators. 
 (g) The tribunal of arbitrators shall make an
arbitration award as soon as possible after the later of the close of evidence or the submission of final briefs, and in all cases the award shall be made not later than thirty days following submission of the matter. The finding and decision of a
majority of the arbitrators shall be final and shall be binding upon the parties. 

  
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Judgment upon the arbitration award or decision may be entered in any court having jurisdiction thereof or application may be made to any such court for a judicial acceptance of the award and an
order of enforcement, as the case may be. The tribunal of arbitrators shall have the authority to assess liability for pre-award and post-award interest on the claims, attorneys’ fees, expert witness fees and all other expenses of arbitration
as such arbitrators shall deem appropriate based on the outcome of the claims arbitrated. Unless otherwise agreed by the parties to the arbitration in writing, the arbitration award shall include findings of fact and conclusions of law. 

(h) Nothing in this Section 2.06 shall be deemed to (i) limit the applicability of any otherwise applicable statute of
limitations or repose or any waivers contained in this Agreement, (ii) constitute a waiver by any party hereto of the protections afforded by 12 U.S.C. § 91 or any successor statute thereto or any substantially equivalent state law,
(iii) restrict the right of the Trustee to make application to any state or federal district court having jurisdiction in Oklahoma City, Oklahoma to appoint a successor Trustee or to request instructions with regard to any provision in this
Agreement when the Trustee is unsure of its obligations thereunder, or (iv) apply to the Delaware Trustee (as defined in the Trust Agreement). 
 The provisions of this Section 2.06 will survive termination of this Agreement. 
 ARTICLE III 
 ADMINISTRATIVE SERVICES FEE; REIMBURSEMENT OF EXPENSES

 Section 3.01 Administrative Services Fee; Reimbursement of External Expenses. 

(a) The Trust shall pay to the Company an annual administrative services fee of $200,000 (the “Administrative Services Fee”),
which shall be paid in immediately available funds and in equal quarterly installments, on or before the 45th day following each calendar quarter. In the event that this Agreement is terminated during a calendar quarter pursuant to
Section 5.01, the amount of the Administrative Services Fee for such calendar quarter shall be based upon the pro rata portion of the Administrative Services Fee that shall have accrued during such quarter up to and including the Termination
Date. 
 (b) In addition to the Administrative Services Fee, the Trust shall reimburse the Company on or before the 45th day
following each calendar quarter for all reasonable and necessary External Expenses associated with the provision of Services in the preceding quarter as set forth in a reasonably detailed invoice provided by the Company to the Trust on or before the
15th day following each calendar quarter. 
 Section 3.02 Set-Off. In the event that the Company or any of its
Affiliates owes the Trust a sum certain in an uncontested amount under any other agreement, then any such amounts may, in the sole discretion of the Company, be aggregated and the Trust and the Company (and the Company’s Affiliates, as the case
may be) shall discharge their obligations by netting those amounts against any amounts owed by the Trust to the Company under this Agreement. 

  
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 ARTICLE IV 
 FORCE MAJEURE 
 Section 4.01 Force Majeure. The Company’s
obligation under this Agreement shall be excused when and to the extent its performance of that obligation is prevented due to Force Majeure. The Company shall promptly notify the Trustee that it is prevented from performing its obligations by
reason of Force Majeure and shall exercise due diligence to end its inability to perform as promptly as practicable. Notwithstanding the foregoing, the Company shall not be required to settle any strike, lockout or other labor dispute in which it or
any of its Affiliates may be involved. 
 ARTICLE V 

MISCELLANEOUS 
 Section 5.01 Term and Termination. 
 (a) This Agreement shall become
effective on the date of this Agreement and shall continue until the date (the “Termination Date”) that is the earliest of: 
 (i) the date the Trust shall have dissolved and commenced winding up its business and affairs in accordance with Section 9.02 of the Trust Agreement; 

(ii) the date that all of the Conveyances have been terminated or are no longer held by the Trust; 

(iii) the date that either the Company or the Trustee may designate by delivering a written notice no less than 90
days prior to such date, provided that the Company’s drilling obligations under the Development Agreement shall have been completed by such date; provided further, however, that the Company shall not terminate this Agreement except in
connection with the Company’s transfer of some or all of the Subject Interests (as defined in the Conveyances) and then only with respect to the Services to be provided with respect to the Subject Interests being transferred, and only upon the
delivery to the Trustee of an agreement of the transferee of such Subject Interests, reasonably satisfactory to the Trustee, in which such transferee assumes the responsibility to perform the Services relating to the Subject Interests being
transferred; and 
 (iv) the date as mutually agreed by the parties to this Agreement. 

(b) Upon termination of this Agreement in accordance with this Section 5.01(a)(i) or (ii), all rights and obligations under this
Agreement shall cease except for (i) obligations that expressly survive termination of this Agreement, (ii) liabilities and obligations that have accrued prior to the Termination Date, including the obligation to pay any amounts that have
become due and payable prior to such Termination Date and (iii) the obligation to pay any portion of the Administrative Services Fee that has accrued prior to such Termination Date, even if such portion has not become due and payable at such
time. Upon termination of this Agreement in accordance with Section 5.01(a)(iii), the Company’s obligations to provide Services shall cease only with respect to the Subject Interests transferred, and shall otherwise continue unabated. In

  
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the event that the Company terminates this Agreement with respect to Subject Interests transferred in accordance with Section 5.01(a)(iii), the Administrative Services Fee shall be
proportionately reduced, unless the Company certifies to the Trustee that such transfer of the Subject Interests will not result in a material decrease in the Company’s costs of providing the Services to the Trust with respect to the remaining
Subject Interests. 
 Section 5.02 Notice. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand delivery, by facsimile, by courier guaranteeing overnight delivery or by first-class mail, return receipt requested, and shall be deemed given (i) when made, if made by hand delivery, (ii) upon
confirmation, if made by facsimile, (iii) one Business Day after being deposited with such courier, if made by overnight courier or (iv) on the date indicated on the notice of receipt, if made by first-class mail, to the parties as
follows: 
  

	 	(a)	if to the Trust or the Trustee, to: 

 SandRidge Mississippian Trust I 
 c/o The Bank of New York Mellon Trust Company,
N.A. 
 Institutional Trust Services 
 919 Congress Avenue, Suite 500 
 Austin, Texas 78701 

Attention: Mike J. Ulrich 
 Facsimile No.: (512) 479-2253 
 With a copy to: 

Bracewell & Giuliani LLP 
 111 Congress Avenue 
 Suite 2300 

Austin, Texas 78701 
 Attention: Thomas W. Adkins 
 Facsimile No.: (512) 479-3940 

 

	 	(b)	if to the Company, to: 

SandRidge Energy, Inc. 
 123 Robert S. Kerr Avenue 
 Oklahoma City, OK 73102-6406 

Attention: Philip T. Warman 
 Facsimile No.: (405) 429-5983 
 With a copy to: 

Covington & Burling LLP 
 1201 Pennsylvania Avenue, N.W. 
 Washington, D.C. 20004 

Attention: David H. Engvall 
 Facsimile No. (202) 778 5307 

  
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 or to such other address as such Person may have furnished to the other Persons identified in this
Section 5.02 in writing in accordance herewith. 
 Section 5.03 Entire Agreement; Supersedure; Third Party
Beneficiaries. This Agreement, together with all other agreements and documents contemplated to be executed and delivered in connection with the transactions contemplated hereby, constitutes the entire agreement of the parties relating to the
matters contained herein, superseding all prior contracts or agreements, whether written or oral, relating to the matters contained herein. This Agreement does not confer upon any Person, other than the parties hereto, any rights or remedies.

 Section 5.04 Effect of Waiver or Consent. Except as otherwise provided in this Agreement, a waiver or consent,
express or implied, to or of any breach or default by any party in the performance by that party of its obligations under this Agreement is not a consent or waiver to or of any other breach or default in the performance by that party of the same or
any other obligations of that party under this Agreement. 
 Section 5.05 Amendment or Modification. This Agreement
may be amended or modified from time to time only by a written instrument executed by each of the parties to this Agreement. 

Section 5.06 Assignment. Except as provided in Section 2.02, and except for any transfer of the rights of the Trustee
hereunder to a successor trustee of the Trust, no party to this Agreement shall have the right to assign its rights or obligations under this Agreement without the written consent of the other party to this Agreement. 

Section 5.07 Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all
parties to this Agreement had signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument. 
 Section 5.08 Severability. If any provision of this Agreement or the application thereof to any party to this Agreement or circumstance shall be held invalid or unenforceable to any extent,
the remainder of this Agreement and the application of such provision to the other party to this Agreement or circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted by law. 

Section 5.09 Further Assurances. In connection with this Agreement and all transactions contemplated by this Agreement, each
party hereto agrees to execute and deliver such additional documents and instruments and to perform such additional acts as may be necessary or appropriate to effectuate, carry out and perform all of the terms, provisions and conditions of this
Agreement and all such transactions. 
 Section 5.10 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW PRINCIPLES THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION. 

  
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 Section 5.11 Limitation of Trustee’s Liability. It is expressly understood
and agreed by the Parties hereto that (a) this Agreement is executed and delivered by the Trustee not individually or personally, but solely as Trustee in the exercise of the powers and authority conferred and vested in it and (b) under no
circumstances shall the Trustee be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement. 

[Remainder of page deliberately left blank] 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	SandRidge Energy, Inc.
		
	By:	 	 
		 	Name:
		 	Title:

 [Signature Page to
Administrative Services Agreement] 

 
					
	SandRidge Mississippian Trust I
		
	By:	 	The Bank of New York Mellon Trust Company, N.A., as Trustee
			
		 	By:	 	 
		 		 	Name:
		 		 	Title:

 [Signature Page to
Administrative Services Agreement]Form of Development Agreement

 Exhibit 10.7 
 DEVELOPMENT AGREEMENT 
 This Development Agreement (the
“Development Agreement”) by and among SandRidge Energy, Inc., a Delaware corporation, with offices at 123 Robert S. Kerr Avenue, Oklahoma City, OK 73102-6406 (“SandRidge”), SandRidge Exploration and Production, LLC,
a Delaware limited liability company and wholly owned subsidiary of SandRidge with offices at 123 Robert S. Kerr Avenue, Oklahoma City, OK 73102-6406 (“Assignor”) and SandRidge Mississippian Trust I, a statutory trust formed under
the laws of the State of Delaware (the “Trust”), is delivered to be effective as of 12:01 a.m., Central Time, January 1, 2011 (the “Effective Time”). All capitalized terms not otherwise defined herein shall
have the meanings ascribed to such terms in Article I below. 
 WHEREAS, Assignor and the Trust have entered into that
certain Perpetual Overriding Royalty Interest Conveyance (PUD) to be effective as of the Effective Time (the “Perpetual PUD Conveyance”); 
 WHEREAS, Assignor and Mistmada Oil Company, Inc., an Oklahoma corporation and wholly owned subsidiary of SandRidge (“SandRidge Sub”), have entered into that certain Term Overriding
Royalty Interest Conveyance (PUD) to be effective as of the Effective Time (the “Term PUD Conveyance,” and together with the Perpetual PUD Conveyance, collectively the “Conveyances”), which Term PUD Conveyance has
been assigned as of the Effective Time by SandRidge Sub to the Trust; and 
 WHEREAS, in connection with the Conveyances,
SandRidge has agreed to undertake certain obligations with respect to the drilling and completion of Development Wells. 

NOW, THEREFORE, in consideration of the premises and the covenants hereinafter contained and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intended to be legally bound hereby, it is agreed as follows: 
 ARTICLE I 
 DEFINITIONS 

This Article I defines certain capitalized words, terms and phrases used in this Development Agreement. Certain other capitalized words,
terms and phrases used in this Development Agreement are defined elsewhere in this Development Agreement. 
 “Additional
Interest” is defined in Section 3.01. 
 “Additional Lease” is defined in Section 3.01.

 “Adjusted Development Well Amount” means the amount, for each Development Well, equal to the product of
(a) the NRI Factor for such well, multiplied by (b) the Lateral Distance Factor for such well. For example, in the case of a Development Well for which the NRI Factor is 1.5 and the Lateral Distance Factor is 1.0, the Adjusted
Development Well 

 
Amount would be equal to: NRI Factor (1.5) x Lateral Distance Factor (1.0) = 1.5. Therefore, such Development Well would have a 1.5 Adjusted Development Well Amount. The Adjusted
Development Well Amount shall be rounded to the nearest ten thousandth (i.e., four decimal places to the right of the decimal point). 
 “Affiliate” means, for any specified Person, another Person that controls, is controlled by, or is under common control with, the specified Person. “Control,” in the preceding
sentence, refers to the possession by one Person, directly or indirectly, of the right or power to direct or cause the direction of the management and policies of another Person, whether through the ownership of voting securities, by contract or
otherwise. 
 “AMI Area” means that area described in Exhibit A to this Development Agreement.

 “Assignee Minerals” means, collectively, the “Assignee Minerals” as defined under each of the
Conveyances. 
 “Assignor” is defined in the introductory paragraph to this Development Agreement. 

“Assignor’s Net Revenue Interest” means the interest, stated as a decimal fraction, in Subject Minerals production
from a Development Well attributable to Subject Interests in that Development Well, net of Production Burdens. 

“Assignor’s Net Share of Minerals” means the share of Subject Minerals from each Development Well that is
attributable to Assignor’s Net Revenue Interest in that Development Well determined prior to giving effect to the Conveyances. 
 “Closing Time” means 12:01 a.m., Central Time, on April [    ], 2011. 
 “Conveyances” is defined in the recitals to this Development Agreement. 
 “Development Agreement” is defined in the introductory paragraph to this Development Agreement. 
 “Development Well” means any Mineral well located on the Subject Lands that is spud after December 31, 2010 and drilled horizontally to, and perforated for completion in, the Target
Formation, on or prior to the Drilling Obligation Completion Date. 
 “Drilling Obligation Completion Date”
means the date that the Total Drilling Target is reached; provided that the “Drilling Obligation Completion Date” shall not be deemed to have been achieved unless SandRidge shall have delivered to Trustee, within a reasonable time
thereafter, (a) a certificate substantially in the form of Exhibit B to this Development Agreement, executed by its Chief Executive Officer, President or any Vice President, certifying that the Total Drilling Target was achieved as of
such date and identifying each Development Well and (b) such other documentation as Trustee may reasonably request to establish satisfaction of SandRidge’s drilling obligation hereunder. 

  
 2 

 “Effective Time” is defined in the introductory paragraph to this
Development Agreement. 
 “Exchange Acreage” is defined in Section 3.02. 

“Excluded Assets” means those Minerals wells that are described in Exhibit B to each of the Conveyances.

 “Farmout Agreements” means any farmout agreement, participation agreement, exploration agreement,
development agreement or any similar agreement. 
 “Gas” means natural gas and all other gaseous hydrocarbons
or minerals, including helium, but specifically excluding any Gas Liquids. 
 “Gas Liquids” means those natural
gas liquids and other similar liquid hydrocarbons, including ethane, propane, butane and natural gasoline, and mixtures thereof, that are removed from a gas stream by the liquids extraction process of any field facility or gas processing plant and
delivered by the facility or plant as natural gas liquids. 
 “Lateral Distance Factor” means, with respect to
each Development Well, the fraction (not to exceed 1.0) obtained by dividing such well’s Perforated Length by 2,500 feet. For example, if the Perforated Length of a Development Well is 2,000 feet, the computation would be: 2,000 feet / 2,500
feet = 0.8. Therefore, such Development Well would have a Lateral Distance Factor of 0.8. In no event shall the “Lateral Distance Factor” exceed 1.0. In the event that the Perforated Length of a Development Well is greater than 2,500 feet,
the Lateral Distance Factor shall nevertheless be deemed to be equal to 1.0. 
 “Minerals” means Oil, Gas and
Gas Liquids. 
 “Mortgage” is defined in Section 2.05(b). 

“NRI Factor” means, with respect to each Development Well, the fraction obtained by dividing Assignor’s Net Revenue
Interest for such well by 56.9828%. For example, if Assignor’s Net Revenue Interest in a Development Well is 80%, the computation would be: 80% / 56.9828% = 1.4039. Therefore, such Development Well would have a NRI Factor of 1.4039. 

“Oil” means crude oil, condensate and other liquid hydrocarbons recovered by field equipment or facilities, excluding
Gas Liquids. 
 “Party,” when capitalized, refers to SandRidge, Assignor or the Trust.
“Parties,” when capitalized, refers to SandRidge, Assignor and Trustee. 
 “Perforated Length”
means the length (in feet) of a Development Well measured from the first perforation along the measured depth to the last perforation along the measured depth. 

  
 3 

 “Perpetual PUD Conveyance” is defined in the recitals to this Development
Agreement. 
 “Person” means any natural person, corporation, partnership, trust, estate or other entity,
organization or association. 
 “Production Burdens” means, with respect to any Subject Lands, Subject
Interests or Subject Minerals, all royalty interests, overriding royalty interests, production payments, net profits interests and other similar interests that constitute a burden on, are measured by or are payable out of the production of Minerals
or the proceeds realized from the sale or other disposition thereof. 
 “Reasonably Prudent Operator Standard”
means the standard of conduct of a reasonably prudent oil and gas operator in the AMI Area under the same or similar circumstances, acting with respect to its own property and disregarding the existence of the Royalty Interests as a burden on such
property. 
 “Royalty Interests” means, collectively, the royalty interests created under each of the
Conveyances. 
 “SandRidge” is defined in the introductory paragraph to this Development Agreement. 

“SandRidge Sub” is defined in the recitals to this Development Agreement. 

“Subject Interests” means Assignor’s undivided interests in the Subject Lands as described on Exhibit A to the
Conveyances, whether as lessee under leases, as an owner of the Subject Minerals (or the right to extract such Minerals) or otherwise, by virtue of which undivided interests Assignor has the right to conduct exploration, drilling, development and
Mineral production operations on the Subject Lands, or to cause such operations to be conducted, or to participate in such operations by paying and bearing all or any part of the costs, risks and liabilities of such operations, to drill, test,
complete, equip, operate and produce wells to exploit the Minerals. The “Subject Interests” (a) may be owned by Assignor pursuant to leases, deeds, operating, pooling or unitization agreements, orders or any other instruments,
agreements or documents, recorded or unrecorded, (b) include any and all extensions or renewals of leases covering the Subject Lands (or any portion thereof) obtained by Assignor, or any Affiliate thereof, within six (6) months after the
expiration or termination of any such lease, and (c) are subject to the Permitted Encumbrances (as defined in each of the conveyances). For the avoidance of doubt, the “Subject Interests” do not include: (i) Assignor’s
interests in the Excluded Assets; (ii) Assignor’s rights to substances other than Minerals; (iii) Assignor’s rights to Minerals (other than Assignee Minerals) under contracts for the purchase, sale, transportation, storage,
processing or other handling or disposition of Minerals; (iv) Assignor’s interests in, or rights to Minerals (other than Assignee Minerals) held in pipelines, gathering systems, storage facilities, processing facilities or other equipment
or facilities; or (v) any additional or enlarged interests in the Development Wells, Subject Lands or Subject Minerals acquired by Assignor after the Closing Time, except (1) to the extent any such additional or enlarged interest becomes a
part of the Subject Interests by amendment to the Conveyances pursuant to Section 3.01 or Section 3.02, 

  
 4 

 
(2) as may result from the operation of the terms of the instruments creating the Subject Interests, or (3) as may be reflected in extensions and renewals covered by the preceding sentence.

 “Subject Lands” means the lands subject to or covered by the oil and gas leases described in Exhibit A
to each of the Conveyances, insofar and only insofar as they cover the Target Formation, subject to the exceptions, exclusions and reservations set forth on each such Exhibit A. 

“Subject Minerals” means all Minerals in and under, and that may be produced, saved and sold from a Development Well,
from and after the Effective Time, insofar and only insofar as such Minerals are produced from the Target Formation, subject to the following exclusions: Minerals that are (a) lost in the production, gathering or marketing of Minerals;
(b) used (i) in conformity with ordinary and prudent operations on the Subject Lands, including drilling and production operations with respect to a Development Well or (ii) in connection with operations (whether on or off the Subject
Lands) for processing or compressing the Subject Minerals; (c) taken by a Third Person to recover costs, or some multiple of costs, paid or incurred by that Third Person under any operating agreement, unit agreement or other agreement in
connection with nonconsent operations conducted (or participated in) by that Third Person; and (d) retained by a Third Person for gathering, transportation, processing or marketing services related to the Subject Minerals in lieu of or in
addition to cash payment for such services, to the extent such agreement is permitted under the Conveyances. 
 “Target
Formation” means (i) with respect to Alfalfa County, Oklahoma, the “Target Formation” being defined as being the interval between the base of Pennsylvanian-aged Morrow or its stratigraphic equivalent at a depth of 4,833’
and the Devonian-aged Woodford Shale or its stratigraphic equivalent at a depth of 5,344’ in the SandRidge Energy Dorado SWD 1-32 located in section 32, Township 29 North, Range 9 West (API No. 35003219830000), (ii) with respect to Garfield
County, Oklahoma, the “Target Formation” being defined as being the interval between the base of Pennsylvanian-aged Morrow or its stratigraphic equivalent at a depth of 6,475’ and the Devonian-aged Woodford Shale or its
stratigraphic equivalent at a depth of 7,100’ in the Texas American Oil JC Nelson 1 located in section 27, Township 23 North, Range 8 West (API No. 35047223450000), (iii) with respect to Grant County, Oklahoma, the “Target
Formation” being defined as being the interval between the base of Pennsylvanian-aged Morrow or its stratigraphic equivalent at a depth of 5,395’ and the Devonian-aged Woodford Shale or its stratigraphic equivalent at a depth of
6,060’ in the SandRidge Energy Orion 1-22 SWD located in section 22, Township 25 North, Range 5 West (API No. 35053227710000), (iv) with respect to Major County, Oklahoma, the “Target Formation” being defined as being the
interval between the base of Pennsylvanian-aged Morrow or its stratigraphic equivalent at a depth of 6,474’ and the Devonian-aged Woodford Shale or its stratigraphic equivalent at a depth of 7,094’ in the Downey Oil Davis 1 located in
section 24, Township 23 North, Range 9 West (API No. 35093215620000) and (v) with respect to Woods County, Oklahoma, the “Target Formation” being defined as being the interval between the base of Pennsylvanian-aged Morrow or its
stratigraphic equivalent at a depth of 5,204’ and the Devonian-aged Woodford Shale or its stratigraphic equivalent at a depth of 5,704’ in the SandRidge Energy Koppitz SWD 1-31 located in section 31, Township 28 North, Range 13 West (API
No. 35151232750000). 

  
 5 

 “Term PUD Conveyance” is defined in the recitals to this Development
Agreement. 
 “Third Person” means a Person other than SandRidge or Trustee. 

“Total Drilling Target” means that number of Development Wells where the cumulative sum of all the Adjusted Development
Well Amounts for such Development Wells drilled or caused to be drilled by Assignor equals 123. 
 “Trust” is
defined in the introductory paragraph to this Development Agreement. 
 “Trust Agreement” means the Amended and
Restated Trust Agreement of the Trust, dated as of [            ] (as may be amended from time to time), among SandRidge, the Trustee and Corporation Trust Company, as Delaware
trustee. 
 “Trustee” means The Bank of New York Mellon Trust Company, N.A., a national banking association
organized under the laws of the United States of America with its principal place of business in New York, New York, as trustee, acting not in its individual capacity but solely as trustee of the Trust. 

ARTICLE II 

DEVELOPMENT OF THE SUBJECT LANDS 
 Section 2.01 Drilling Program. 
 (a) Obligation to Drill.
SandRidge shall, subject to the terms of Section 2.01(b) and the rest of this Article II, drill or cause to be drilled such number of Development Wells that is necessary to achieve the Total Drilling Target on or prior to December 31,
2014. 
 (b) Extension of Obligation to Drill. If SandRidge has not reached the Total Drilling Target by
December 31, 2014, SandRidge shall, subject to the terms of this Article II, drill or cause to be drilled such number of Development Wells that is necessary to achieve the Total Drilling Target on or prior to December 31, 2015.

 (c) Drilling Standard. SandRidge shall drill or caused to be drilled, at SandRidge’s sole cost and expense, each
of the Development Wells in a diligent manner in accordance with the Reasonably Prudent Operator Standard. 
 Section 2.02
Obligation to Complete and Equip. SandRidge shall, at SandRidge’s sole cost and expense, (a) attempt to complete in the Target Formation each Development Well that reasonably appears to SandRidge, acting in accordance with the
Reasonably Prudent Operator Standard, to be capable of producing Minerals in quantities sufficient to pay completion, equipping and operating costs, (b) equip for production each Development Well that is successfully completed and, when it is
equipped and connected to a gathering line, pipeline or other storage or marketing facility, shall commence production, and (c) plug and abandon all Development Wells that are unsuccessful to the extent required by applicable law. 

  
 6 

 Section 2.03 Costs and Expenses of Development Wells. All costs and expense
associated with or paid or incurred in connection with the spudding, drilling, testing, completing and equipping for production, operating and/or plugging and abandoning of the Development Wells shall be borne solely by SandRidge, but SandRidge may
use any Subject Minerals in such operations without any duty to account to Trustee or the Trust. 
 Section 2.04 Title
Due Diligence. Prior to commencing the drilling of any Development Well, SandRidge shall perform such title due diligence and such title curative work as would be performed by an oil and gas operator drilling a well and acting in accordance with
the Reasonably Prudent Operator Standard. 
 Section 2.05 Wells. 

(a) Prior to the Drilling Obligation Completion Date, SandRidge shall not, and shall cause its Affiliates not to, drill and/or complete
any well to the Target Formation in the AMI Area other than Development Wells in furtherance of its drilling obligation in Section 2.01 above. 
 (b) SandRidge hereby covenants and agrees to cause Assignor to enter into a Mortgage (the “Mortgage”) by which Assignor will grant a mortgage lien in and to any of the undeveloped
portions of the Subject Lands (including, by amendment to the Mortgage, any Additional Lease, Additional Interest or Exchange Acreage that becomes part of the Subject Lands) located in the AMI Area in order to secure the performance of
SandRidge’s drilling obligation under Section 2.01 above. 
 (c) If SandRidge fails to achieve the Total Drilling
Target by December 31, 2015, SandRidge shall be in default of its obligations under this Development Agreement and the Trust shall be entitled to pursue, in its sole discretion, any and all remedies available pursuant to Article III of the
Mortgage. 
 (d) Notwithstanding the preceding, the maximum amount recoverable upon a failure by SandRidge to satisfy its
obligations under Section 2.01 shall be $166,050,000, and such amount shall automatically be reduced by an amount that is equal to the product of $1,350,000 multiplied by the cumulative total of all Adjusted Development Well Amounts for all
Development Wells drilled or caused to be drilled by SandRidge under this Development Agreement. In addition, upon Assignor’s request and at Assignor’s expense, the lien and security interest evidenced by the Mortgage shall be released as
to each Development Well as the same is completed (including completion as a dry hole) in accordance with this Development Agreement. 
 ARTICLE III 
 AMI AREA 

Section 3.01 Additional Leases and Additional Interests. In the event that, after the Closing Time and prior to the Drilling
Obligation Completion Date, Assignor (a) acquires additional leases covering lands lying within the AMI Area (each, an “Additional Lease”) or (b) acquires through forced pooling or otherwise by operation of law or pursuant
to any applicable contract any rights or interests that increase Assignor’s Net Revenue Interest in any 

  
 7 

 
Development Well, whether before or after the drilling of such well (each such increase in Assignor’s Net Revenue Interest, an “Additional Interest”), at Assignor’s
option and subject to Section 3.03, Assignor and the Trust shall execute, acknowledge and deliver (i) an instrument that amends the Conveyances so that each such Additional Lease or Additional Interest will be subject to the Royalty
Interest and be part of the Subject Interests and Subject Lands, and (ii) an instrument that amends the Mortgage so that each such Additional Lease will be subject to the Mortgage. 

Section 3.02 Exchange of Subject Lands. At Assignor’s option and subject to Section 3.03, at any time prior to the
Drilling Obligation Completion Date, Assignor may cause the Trust to execute, acknowledge and deliver to Assignor a recordable instrument (reasonably acceptable to Assignor) that releases from the Royalty Interest undeveloped portions of the Subject
Interests in connection with Assignor’s exchange of such Subject Interests for other undeveloped acreage within the AMI Area (the “Exchange Acreage”). Concurrently with such release, Assignor and the Trust shall execute,
acknowledge and deliver (a) an instrument that amends the Conveyances so that such Exchange Acreage will be subject to the Royalty Interest and be part of the Subject Interests and Subject Lands, and (b) an instrument that amends the
Mortgage so that such Exchange Acreage will be subject to the Mortgage. In no event shall Assignor extend any well into any Exchange Acreage unless and until the Conveyances are amended to include such Exchange Acreage as part of the Subject
Interests. 
 Section 3.03 Limitations. In no event may (i) any Additional Lease or Additional Interest be made
subject to the Royalty Interest pursuant to Section 3.01 or (ii) any exchange involving Exchange Acreage be effected pursuant to Section 3.02, unless Assignor certifies to the Trust that: 

(a) the aggregate acreage attributable to all Additional Leases, Additional Interests and Exchange Acreage will not exceed 5% of the
Subject Interests as such exist as of the Closing Time; 
 (b) in the case of an Additional Lease only, the reserve profile of
such Additional Lease is consistent with reserve profiles of other portions of the Subject Interests that would, but for the acquisition of the Additional Lease, be tapped from a Development Well having the entire length of all of its perforated
laterals located within the Subject Interests; 
 (c) in the case of Exchange Acreage only, the reasonably projected quantity of
proved undeveloped reserves attributable to the Exchange Acreage does not significantly differ from the reasonably projected quantity of proved undeveloped reserves attributable to the portion of the Subject Interests to be given in exchange
therefor; and 
 (d) the addition of any Additional Leases, Additional interests, or Exchange Acreage, as applicable, to the
Conveyance will not cause any adverse federal income tax consequence to any Unitholder of the Trust. 
 The Trustee is hereby
authorized and directed to rely on any such certification from Assignor, and shall have no authority or responsibility to exercise any discretion in connection with any transaction authorized by this Article III. 

ARTICLE IV 

OTHER PROVISIONS 

  
 8 

 Section 4.01 Successors and Assigns. Subject to the limitation and restrictions
on the assignment or delegation by the Parties of their rights and interests under this Development Agreement, all of the covenants and agreements of SandRidge, Assignor and the Trust contained herein shall be deemed to be covenants running with the
land and shall be binding upon the successors and assigns of SandRidge’s and Assignor’s interests in the Subject Interests or this Development Agreement and SandRidge Sub’s and the Trust’s interest in the Royalty Interests and
shall inure to the benefit of SandRidge Sub and the Trust and their respective successors and permitted assigns. The foregoing notwithstanding, nothing herein is intended to modify or shall have the effect of modifying the restrictions on assignment
set forth in the Conveyances regarding assignments, transfer or pooling of SandRidge’s and Assignor’s interests in the Subject Interests; and the preceding sentence shall not be deemed to permit any assignment or other transfer of the
interest of SandRidge or Assignor in any of the Subject Interests that is not specifically permitted by the provisions of the Conveyances. Nothing contained in this Development Agreement or in the Conveyances shall in any way limit or restrict the
right of the Trust, or the Trust’s respective successors and assigns, to sell, convey, assign or mortgage the Royalty Interests in whole or in part. If the Trust, or the Trust’s successors and assigns, at any time shall execute a mortgage,
pledge or deed of trust covering all or any part of the Royalty Interests as security for any obligation, the mortgagee, the pledgee or the trustee therein named or the holder of the obligation secured thereby shall be entitled, to the extent such
mortgage, pledge or deed of trust so provides and upon the occurrence or existence of the event or condition therein stated, if so conditioned, to exercise all of the rights, remedies, powers and privileges herein conferred upon the Trust, and to
give or withhold all consents herein required or permitted to be obtained from the Trust. 
 Section 4.02 Governing
Law. THIS DEVELOPMENT AGREEMENT SHALL BE CONSTRUED UNDER AND GOVERNED BY THE LAWS OF THE STATE OF OKLAHOMA WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW PRINCIPLES THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

 Section 4.03 Construction of Development Agreement. In construing this Development Agreement, the following
principles shall be followed: 
 (a) no consideration shall be given to the captions of the articles, sections, subsections or
clauses, which are inserted for convenience in locating the provisions of this Development Agreement and not as an aid in its construction; 
 (b) no consideration shall be given to the fact or presumption that one Party had a greater or lesser hand in drafting this Development Agreement; 

(c) the word “includes” and its syntactical variants mean “includes, but is not limited to” and corresponding
syntactical variant expressions; 
 (d) a defined term has its defined meaning throughout this Development Agreement, regardless
of whether it appears before or after the place in this Development Agreement where it is defined; 

  
 9 

 (e) unless the context clearly indicates to the contrary, references to any Party shall be
construed to include all permitted successors and assigns of such Party and references to Trustee shall be construed to include all successor and substitute trustees under the Trust Agreement. 

(f) the plural shall be deemed to include the singular, and vice versa; and 

(g) each exhibit, attachment and schedule to this Development Agreement is a part of this Development Agreement, but if there is any
conflict or inconsistency between the main body of this Development Agreement and any exhibit, attachment or schedule, the provisions of the main body of this Development Agreement shall prevail. 

Section 4.04 No Waiver. Failure of any Party to require performance of any provision of this Development Agreement shall not
affect any Party’s right to require full performance thereof at any time thereafter, and the waiver by any Party of a breach of any provision hereof shall not constitute a waiver of a similar breach in the future or of any other breach or
nullify the effectiveness of such provision. 
 Section 4.05 Relationship of Parties. This Development Agreement
does not create a partnership, mining partnership, joint venture or relationship of trust or agency between the Parties. 

Section 4.06 Further Assurances. Each Party shall execute, acknowledge and deliver to the other Parties all additional
instruments and other documents reasonably required to evidence or effect any transaction contemplated by this Development Agreement. 
 Section 4.07 The 12:01 A.M. Convention. Except as otherwise provided in this Development Agreement, each calendar day, month, quarter, and year shall be deemed to begin at 12:01 a.m. Central
Time on the stated day or on the first day of the stated month, quarter, or year, and to end at 12:00 a.m. Central Time on the next day or on first day of the next month, quarter or year, respectively. 

Section 4.08 Counterpart Execution. This Development Agreement may be executed in any number of counterparts with the same
effect as if all the Parties had signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument. 
 Section 4.09 Notices. Any and all notices or demands permitted or required to be given under this Development Agreement shall be in writing and shall be validly given or made if
(a) personally delivered, (b) delivered and confirmed by facsimile or like instantaneous transmission service, or by Federal Express or other overnight courier delivery service, which shall be effective as of confirmation of receipt by the
courier at the address for notice hereinafter stated or (c) deposited in the United States mail, first class, postage prepaid, certified or registered, return receipt requested, addressed as follows: 

If to the Trust, to: 

  
 10 

 SandRidge Mississippian Trust I 

c/o The Bank of New York Mellon Trust Company, N.A. 
 Institutional Trust Services 
 919 Congress Avenue, Suite 500 

Austin, Texas 78701 
 Attention: Mike J. Ulrich 
 Facsimile No.: (512) 479-2253 

With a copy to: 
 Bracewell & Giuliani LLP 
 111 Congress Avenue 

Suite 2300 

Austin, Texas 78701 
 Attention: Thomas W. Adkins 
 Facsimile No.: (512) 479-3940 

If to SandRidge or Assignor, to: 
 123 Robert S. Kerr Avenue 
 Oklahoma City, OK 73102-6406 

Attention: Philip T. Warman 
 Facsimile No.: (405) 429-5983 
 With a copy to: 

Covington & Burling LLP 
 1201 Pennsylvania Avenue, N.W. 
 Washington, D.C. 20004 

Attention: David H. Engvall 
 Facsimile No. (202) 778 5307 
 Section 4.10 Limitation of
Liability. It is expressly understood and agreed by the Parties that (a) this Development Agreement is executed and delivered by Trustee not individually or personally, but solely as Trustee in the exercise of the powers and authority
conferred and vested in it and (b) under no circumstances shall Trustee be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Development Agreement. It is further
expressly understood and agreed by the Parties that neither the Trust nor Trustee, in its capacity as Trustee or individually, shall have any authority over, or responsibility or liability for, the drilling of the Development Wells or any of the
other business or commercial activities contemplated by this Development Agreement, all of which are hereby agreed to be the sole responsibility of SandRidge, and SandRidge hereby agrees to and hereby does indemnify and agree to hold harmless each
of the Trust and Trustee, in its capacity as Trustee and individually, from and against any and all damages, liabilities, expenses, fines, judgments, amounts paid in settlement, reasonable attorneys fees and costs of investigation, and other
expenses reasonably incurred by any of them in connection with or as a result of any of the business or commercial activities contemplated by this Development Agreement or any other matter arising out of this Development Agreement or any such
matter. 

  
 11 

 
SandRidge further agrees to advance any such attorneys’ fees, costs of investigation and other expenses described above as they are incurred. 

Section 4.11 Severability. If any provision of this Development Agreement or the application thereof to any Party or
circumstance shall be held invalid or unenforceable to any extent, the remainder of this Development Agreement and the application of such provision to the other Parties or circumstances shall not be affected thereby and shall be enforced to the
greatest extent permitted by law. 
 Section 4.12 Termination. This Development Agreement shall terminate and be
deemed null and void as of and following the Drilling Obligation Completion Date. 
 [Remainder of page intentionally left
blank.] 

  
 12 

 IN WITNESS WHEREOF, each Party has caused this Development Agreement to be executed in its
name and behalf and delivered on the date or dates stated in the acknowledgment certificates appended to this Development Agreement, to be effective as of the Effective Time. 

 

			
	SandRidge Energy, Inc.
		
	By:	 	  

		 	  Name:
		 	  Title:

 Signature Page
to Development Agreement 

 
			
	SandRidge Exploration and Production, LLC
		
	By:	 	  

		 	  Name:
		 	  Title:

 Signature Page
to Development Agreement 

 
			
	SandRidge Mississippian Trust I
		
	By:	 	The Bank of New York Mellon Trust Company, N.A., as Trustee
		
	By:	 	  

		 	  Name:
		 	  Title:

 Signature Page
to Development Agreement 

			
	STATE OF                     	  	§
		  	§
	COUNTY OF                     	  	§

 This instrument was acknowledged
before me on                  , 2011, by
                     as
                     of SandRidge Energy, Inc., a Delaware corporation, on behalf of said corporation. 

WITNESS my hand and official seal this          day of
                , 2011. 
  

			
	  

	NOTARY PUBLIC,
	State of	 	  

	  

	(printed name)

  

			
	My commission expires:	 	  
	  
	 	
	[SEAL]	 	

 Acknowledgment Page to Development Agreement 

			
	STATE OF                     	  	§
		  	§
	COUNTY OF                     	  	§

 This instrument was acknowledged
before me on                  , 2011, by
                     as
                     of SandRidge Exploration and Production, LLC, a Delaware limited liability company, on behalf of said limited liability
company. 
 WITNESS my hand and official seal this          day of
                , 2011. 
  

			
	  

	NOTARY PUBLIC,
	State of	 	  

	  

	(printed name)

  

			
	My commission expires:	 	  
	  
	 	
	[SEAL]	 	

 Signature Page to Development Agreement 

			
	STATE OF                     	  	§
		  	§
	COUNTY OF                     	  	§

 This instrument was acknowledged
before me on                  , 2011, by
                     as
                     of The Bank of New York Mellon Trust Company, N.A., a national banking association organized under the laws of the United
States of America as Trustee of SandRidge Mississippian Trust I, a Delaware statutory trust, on behalf of said national banking association and said trust. 
 WITNESS my hand and official seal this          day of
                , 2011. 
  

			
	  

	NOTARY PUBLIC,
	State of	 	  

	  

	(printed name)

  

			
	My commission expires:	 	  
	  
	 	
	[SEAL]	 	

 Signature Page to Development Agreement 

 Exhibit A 
 (Description of AMI Area) 
 [See attached.] 

 Exhibit B 
 [Letterhead of SandRidge Energy, Inc.] 
 [Date] 

Reference is made to that certain Development Agreement (the “Development Agreement”), by and between SandRidge Energy,
Inc. (“SandRidge”), SandRidge Exploration and Production, LLC and SandRidge Mississippian Trust I, a Delaware statutory trust, delivered to be effective as of January 1, 2011. Capitalized terms used but not defined herein have
the meaning given them in the Development Agreement. 
 SandRidge hereby certifies to the Trust that SandRidge achieved the
Total Drilling Target on [insert date] and, therefore, such date shall be, for all purposes, established as the Drilling Obligation Completion Date. 
 The Development Wells drilled to achieve the Total Drilling Target are listed in the attachment to this letter. 
 Please sign and return an executed copy of this letter to certify that you require no additional documentation to establish SandRidge’s satisfaction of its drilling obligation under the Development
Agreement and that [insert date] shall be, for all purposes, established as the Drilling Obligation Completion Date. 
  

			
	SandRidge Energy, Inc.
		
	By:	 	  

		 	  Name:
		 	  Title:

  

									
	Acknowledged and agreed:	 	 
			
		 	 SandRidge Mississippian Trust I
	 	
				
		 	 By:
	 	 The Bank of New York Mellon

Trust Company, N.A., as Trustee
	 	
					
		 		 	 By:
	 	  
	 	
		 		 		 	  Name:	 	
		 		 		 	  Title:

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