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ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Aug 14, 2012 · 22 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. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 1
    Enercoms The Oil and Gas Conference August 14, 2012
  2. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 2
    Corporate Profile Mid-Continent Mississippian Market Value ( in billions) 1,750,000 net acres 8,000 net locations(f) Market Cap (08/10/12) 3.4 Current rig count: 30 Permian Net Debt(a)(b) 3.1 225,000 net acres Preferred Stock 0.8…
  3. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 3
    2012: Second Quarter Review Achieved record oil production of 4.6 MMBbls (Total production of 8.2 MMBoe) Increased average daily production in the second quarter 36% to 90.2 Mboe/d Company Highlights Drilled five Mississippian…
  4. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 4
    Three Year Objectives Net Production (MMboe) EBITDA 2 Billion 33.0 CapEx Funded Within Cash Flow 23.4 20.1 17.5 Continue to Improve Credit Metrics 2009 2010 2011 2012 2013 2014 Oil (a) Gas 5 (a) Includes NGLs
  5. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 5
    Capital Spending Funding Plan 2012 Fully funded through organic cash flows, Mississippian joint venture, royalty trust IPO, secondary unit sales, and non-core asset sales August 1.1 Billion bond offering June 30th 1.9 Billion…
  6. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 6
    Credit Metrics and Liquidity Pro Forma LTM Adjusted EBITDA(a)(e) Net Debt & Leverage(b)(e) 1,200 1,130 7.0x 3,128 3,149 2,903 2,889 1,000 3,000 2,757 2,606 6.0x 800 733 684 5.0x 613 629 2,000 MM MM 600 4.6x 4.0x 4.3x…
  7. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 7
    Hedges Actively Locking in High Rates of Return Oil Q3 2012 Q4 2012 2012 2013 2014 2015 Swaps Volumes (MMBbls) 4.05 4.20 15.02 18.52 6.78 5.08 Price (/Bbl) 100.52 100.67 100.22 96.24 92.15 83.69 Three-way Collars Volumes (MMBbls)…
  8. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 8
    Organic Growth Economics Mississippian Liquids Driven Returns Oil EUR 204 Mbbl (100% Crude) 140% Gas EUR 1,512 MMcf 120% Total EUR 456 Total Mboe 100% BTAX RoR Gross Well Cost 3.2 MM/well (a) 80% 60% 30 Day IP 275 Boe/d…
  9. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 9
    2012 Capital Expenditures Total E&P Highlights by Region Mississippian Play (610MM)(a) E&P: 1700MM 380 horizontal wells planned Land & Seismic: 200MM 30 horizontal rigs currently operating in the play - 20 drilling horizontal…
  10. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 10
    Mississippian 872 Drilled Wells and 77 Active Rigs Wells Drilled Active Rigs SandRidge* 392 30 Chesapeake 237 19 Eagle 55 2 Calyx 21 1 Kansas Range 21 2 Plymonth 14 1 Shell 15 3 Territory Res. 8 1 Panter 8 0 Chaparral 8 1…
  11. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 11
    Mississippian Oil: Contending with Top US Oil Plays Oil Resource Wells 2,000 Max BOPD Wells Play BOPD per Well Mississippian 640 2 2,394 Bakken 4,371 3 2,239 Eagle Ford 2,267 1 2,377 Bakken Mississippian Eagle Ford…
  12. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 12
    Mississippian Performance 30 Day Average Rates 1,800 1,597 1,600 Total Program: 326 Wells 1,400 30 Day Average Rate: 336 Boe/d 1,200 1,000 800 664 600 400 263 200 57 cover - 0 100 101 - 500 501 -1,000 1,000…
  13. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 13
    Mississippian Production Growth Organic Growth From Drilling 25,240 2010 Avg rig count = 5 2011 Avg rig count = 15 2012 Projected avg rig count = 26 19,310 Ramping 1 rig/month reaching 45 Rigs by YE 2013 15,520 49% Crude Oil…
  14. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 14
    Maximize Value Through Infrastructure Investment Disposal System: Key Business Asset Efficiency of Operations (39 days spud to 1st sales) LOE Reduction Barrier to Entry Salt Water Disposal Progress Injection volume 2X Current…
  15. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 15
    Permian Basin Statistics Central Basin Platform 13 Billion Bbls cumulative production Production spans 3MM acres Top producing zones San Andres/Clear Fork Shallow, Carbonate Oil Zones 225M net acres in SD focus area 7,350 potential…
  16. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 16
    SandRidge: Built on a Solid Foundation Generate high rates of return from Continue focus on improving credit quality oil assets metrics Drive double digit oil growth through Lock in returns and protect downside SandRidge…
  17. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 17
    Appendix
  18. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 18
    2012 Operational Guidance Production Differentials Oil (MMBbls) (a) 18.2 Oil (a) 9.00 Natural Gas (Bcf) 88.8 Natural Gas 0.50 Total (MMBoe) 33.0 Capital Expenditures ( in millions) Cost per Boe Exploration and Production 1,700…
  19. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 19
    2012 E&P Capital Expenditure Plans Updated 2012E Well Count Total Gross Net Capex (MM) Drilling and Completion Mid-Continent 380 251 830 Mid-Continent - SWD 69 52 100 Permian 750 678 480 Gulf of Mexico N/A N/A 200 All Other…
  20. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 20
    Capital Structure Overview in millions Senior Notes(a) Preferred Stock 9.875% Sr Notes due 2016 356 8.5% Convertible Perpetual Preferred (b) 265 8.0% Sr Notes due 2018 750 6.0% Convertible Preferred (c) 200 8.75% Sr Notes due 2020…
  21. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 21
    Royalty Trusts Ownership SDT PER SDR Units Percentage Units Percentage Units Percentage SandRidge Retained Units Subordinated Units 7,000,000 25.0% 13,125,000 25.0% 12,431,250 25.0% Common Units 1,216,063 4.3% 2,875,000 5.5%…
  22. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 22
    Contact: Kevin R. White, SVP Business Development Address: 123 Robert S. Kerr Avenue, Oklahoma City, OK 73102 Phone: 405-429-5515 Email: kwhiteSandRidgeEnergy.com Website: www.SandRidgeEnergy.com

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