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2Q Supplemental Information – Midstates Petroleum

Midstates Petroleum · Aug 6, 2014 · 17 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2Q Supplemental Information – Midstates Petroleum – slide 1
    MIDSTATES PETROLEUM COMPANY, INC. Supplemental Information 2Q 2014 Earnings Call August 6, 2014
  2. 2Q Supplemental Information – Midstates Petroleum – slide 2
    Refocused Energy Deliver Financial Exercise Capital Stability Discipline Balance 2014 Operating Capex Focus on Miss Lime with Adjusted EBITDA & Anadarko 500-550MM Assure Liquidity Through 2015 Control Costs & to Fund Current…
  3. 2Q Supplemental Information – Midstates Petroleum – slide 3
    Key Messages Delivered 122 mm in Adjusted EBITDA and 14 mm in Adjusted Net Income, both above consensus Increased Q2 production to 31,912 Boe/d; July production averaged 33,300 Boe/d Reduced cash operating costs (before transaction…
  4. 2Q Supplemental Information – Midstates Petroleum – slide 4
    Growing Production and EBITDA Net Production Adjusted EBITDA(1) 40,000 32,000 - 35,000 500 35,000 500-550 31,912 Gulf Coast 30,000 Gulf Coast 400 23,926 Anadarko 25,000 Anadarko 300 330 BOE/D MM 20,000 Gulf Coast…
  5. 2Q Supplemental Information – Midstates Petroleum – slide 5
    Mississippian Lime: Premier Position Focus on Miss Lime & Anadarko Net Production (Boe/d) (1) 25,000 21,525 21,000 23,000 20,698 20,000 17,579 16,381 14,364 15,000 Gas 10,426 NGL 9,468 10,000 7,207 Oil 5,000 - Q4 Q1 Q2…
  6. 2Q Supplemental Information – Midstates Petroleum – slide 6
    Mississippian Lime Future Development High-Grade & Expand Inventory Since Acquisition Initially developed with four laterals per section 1320 well spacing 3-D allows mapping of porosity units See multiple layers of porosity…
  7. 2Q Supplemental Information – Midstates Petroleum – slide 7
    Mississippian Lime: Differentiated Performance Allocate Rigs Where Returns are Highest Continuing Top Tier overall well performance in the Mississippian Lime 169 wells on production 30 days: Average peak 30-day rate of 565 Boe/d…
  8. 2Q Supplemental Information – Midstates Petroleum – slide 8
    Anadarko Basin: Liquids-Rich Targets Focus on Miss Lime & Anadarko Net Production (Boe/d) 10,000 8,404 8,454 8,376 8,885 8,600-9,400 8,004 8,000 Gas 6,000 NGL 4,000 Oil 2,000 - Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014…
  9. 2Q Supplemental Information – Midstates Petroleum – slide 9
    Anadarko Basin: Prolific Multi Stacked Horizons High-Grade & Expand Inventory Cleveland and Marmaton Well established Good well control and predictability Solid results Cleveland average 30 day peak 380 Boe/d Two Marmaton wells…
  10. 2Q Supplemental Information – Midstates Petroleum – slide 10
    Margin Expansion Enhances Financial Stability Expand Cash Margins & Control Costs 2014 Quarterly Adjusted EBITDA(1) / Boe Adjusted EBITDA enhanced by: 45 42.69 Cash operating cost 42.05 management 40 Improved well performance…
  11. 2Q Supplemental Information – Midstates Petroleum – slide 11
    Enhanced Financial Position Deliver Financial Stability Strong EBITDA growth Q214 Adjusted EBITDA 122mm, projected 500 - 550mm for 2014 Projected debt/EBITDA of 3.5x by year end 2014 Liquidity June 30, 2014 : 150 mm 000…
  12. 2Q Supplemental Information – Midstates Petroleum – slide 12
    Guidance (as of August 6, 2014) Q3 2014 FULL YEAR 2014 Daily Production (Boe/day)(1) 34,000 - 35,000(1) 32,000 - 35,000 (1) Miss+ Anadarko LA Miss+ Anadarko LA By Area 69% 26% 5% By Area 66% 27% 7% Oil 35-40% 45-50% 60-65% Oil…
  13. 2Q Supplemental Information – Midstates Petroleum – slide 13
    Hedging Summary (as of June 30, 2014) (4) 2014 (4) Oil Q3 Q4 Total 2015 WTI Swaps Volume (Bbls) 1,097,000 1,097,000 2,194,000 2,180,000 Volume (Bbl/d) 11,924 11,924 11,924 5,973 Price (/Bbl) 89.04 89.04 89.04 88.38 WTI Collars…
  14. 2Q Supplemental Information – Midstates Petroleum – slide 14
    Adjusted EBITDA Reconciliation For the Three For the Three Months Ended Months Ended June 30, March 31, For the Year Ended December 31, 2014 2014 2013 2012 2011 Adjusted EBITDA reconciliation to net income (loss): Net income…
  15. 2Q Supplemental Information – Midstates Petroleum – slide 15
    Cash Operating Expenses Reconciliation 2014 2013 Q2 Q1 Q1 Q2 Q3 Q4 Operating Expenses - GAAP 116,325 196,640 73,082 104,061 122,376 577,396 Adjustments for certain non-cash items: Asset retirement accretion (432) (497) (254)…
  16. 2Q Supplemental Information – Midstates Petroleum – slide 16
    Preferred Share Dividend Calculation Calculation Conversion into Conversion into Common Shares Common Shares Per share Total 13.50 11.00 Liquidation preference at October 1, 2012: 1,000.00 325,000,000 24,074,074 29,545,455…
  17. 2Q Supplemental Information – Midstates Petroleum – slide 17
    Midstates Petroleum Company Contact Information Corporate Headquarters Investor Relations HOUSTON Al Petrie 4400 Post Oak Pkwy, Suite 2600 Investor Relations, Coordinator Houston, TX 77027 (713) 595-9427 Main Phone (713) 595-9400…

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