SandRidge's stock closed Friday at $4.99, up 21 cents a share.
Tipton and Johnson also have agreed not to compete with the Oklahoma City oil company in the Mississippian formation or try to hire SandRidge employees for a year.
Their departures will be effective May 10.
Also Friday, SandRidge announced the promotion of Lance J. Galvin to senior vice president of corporate reservoir engineering.
“We are fortunate to have a deep bench of talented leaders,” Dewey said. “With more than 32 years of industry experience and a focus in reservoir engineering, Lance will now play an even greater role in the company's future success.”
Galvin joined SandRidge in August 2011 as reservoir engineering manager.