On January 22, 2016, SandRidge Energy, Inc. borrowed $488,900,000 under the Fourth Amended and Restated Credit Agreement, dated as of June 10, 2015, by and among the Company, as borrower, Royal Bank of Canada, as administrative agent, and the lenders signatory thereto, as amended, which represented the remaining undrawn amount that was available under the Credit Facility. These funds are intended to be used for general corporate purposes. As of January 22, 2016, following the funding of this borrowing, the aggregate principal amount of borrowings under the Credit Facility were $499,950,000, including $11,050,000 of outstanding letters of credit, and the Company's cash balance was approximately $855 million.