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SandRidge Mississippian Trust I (OTC: SD) announced the conclusion of the securities litigation after no appeal or post‑judgment motion was filed by the October 14, 2025 deadline, and declared a final distribution of $5,735,127 (or $0.2048 per unit) to unitholders. The distribution reflects the release of net sale proceeds from April 2021 and remaining cash reserves, net of a $550,000 provision for remaining winding‑up expenses. Payment is expected on or before November 14, 2025 to holders of record as of November 7, 2025. The Trust units will be removed from trading and cancelled after payment, and the Trust expects to file a certificate of cancellation before year‑end.
Key financial inputs include $7,899,785 cash at June 30, 2021; $2,550,141 administrative expenses (7/1/21–9/30/25); and $935,484 interest earned.
SandRidge Mississippian Trust I (OTC: SDTTU) announced a significant legal victory as the court granted summary judgment in its favor in the Securities Litigation case of Duane & Virginia Lanier Trust v. SandRidge Mississippian Trust I on September 11, 2025.
If no appeal is filed by October 14, 2025, the Trust will proceed with a final distribution to unitholders of its remaining cash, including proceeds from the April 2021 sale of royalty interests that were held in reserve for potential litigation liabilities. Following the distribution, Trust units will be delisted and cancelled, though the Trust will continue to exist until filing a certificate of cancellation with Delaware's Secretary of State.
SANDRIDGE MISSISSIPPIAN TRUST I (OTC: SDTTU) announced that it will not distribute net proceeds from its asset sale to holders of record as of August 13, 2021, due to potential securities litigation liabilities. The Trust's cash reserve will hold these proceeds until the litigation is resolved. As of November 13, 2020, the Trust was required to begin winding up operations due to insufficient cash available for distribution, totaling $815,000 over four quarters. The recent asset sale to SandRidge for $4,850,000 resulted in net proceeds of $4,500,000, which will also be reserved for liabilities.
SandRidge Mississippian Trust I (OTC: SDTTU) announced a quarterly distribution of approximately $0.3 million, or $0.0110 per unit, for the period ending March 31, 2021. However, cash available for distribution for four consecutive quarters totaled $815,000, necessitating the Trust's dissolution and asset sale as of November 13, 2020. SandRidge Exploration and Production has exercised a right of first refusal to acquire the Trust's assets for $4.85 million. Future distributions are uncertain due to liabilities related to ongoing securities litigation, and Trust units are expected to be canceled post-winding up.
SandRidge Mississippian Trust I (OTC: SDTTU) announces a quarterly distribution of approximately $0.1 million, or $0.0029 per unit, for the period ending December 31, 2020. Distribution will occur on or before February 26, 2021. Average natural gas and NGL prices increased, but sales volumes have slightly decreased. The Trust faces a dissolution trigger due to cumulative cash available for distribution being less than $1.0 million. The Trustee will engage in asset sales and expects to wind up operations by Q3 2021, with potential quarterly distributions continuing until then.
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