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JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Jun 19, 2012 · 23 slides

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Slides

  1. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 1
    Investor Presentation June 19-20, 2012
  2. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 2
    SandRidge: Low Risk, Shallow, Conventional Oil Financial and Operational Summary Operations Overview Market Value Mid-Continent ( in millions, except for share price) Mississippian 1,700,000 net acres SD Share Price (06/15/12)…
  3. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 3
    Path to Three Year Objectives 2012 2014 / 2015 EBITDA 2 Billion On pace for double digit annual 1 Billion of EBITDA (2014) EBITDA growth Double Oil Production Mississippian: 1.7MM acres, 2012 Oil growth: 54%(a) (from 2011…
  4. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 4
    Mississippian Vast Resource Potential Mississippian Project Shallow, Carbonate Oil Play 17 million acre prospective area Kansas SD 1.7 million net acres Central Kansas Uplift SD 8,000 potential net locations(a) (Miss Absent)…
  5. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 5
    Value Creation from Mississippian Play Mississippian Accomplishments Acres 2.2 Million Accumulation Accumulated 2.2 Million acres over Lease Costs 470 Million last two years Total cost 470 Million Per Acre Cost 215 / acre…
  6. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 6
    Mississippian 750 Drilled Wells and 75 Active Rigs Wells Drilled Active Rigs SandRidge* 340 26 Chesapeake 208 21 Eagle 50 3 Harper Sumner Calyx 19 1 Comanche Barber Range 16 2 14/0 0/0 15/3 9/1 Plymouth 14 0 8/4 3/0 6/0 5/0…
  7. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 7
    Mississippian Operated Wells Peak 30 Day Avg Rates 160 Miles Barber 423 Boe/d Comanche Harper 202 Boe/d KS 319 Boe/d OK Grant 100 Miles 297 Boe/d Kay 353 Boe/d Woods Alfalfa 204 Boe/d 383 Boe/d Noble Garfield…
  8. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 8
    Mississippian Performance Comparison 30 Day Peak Rates 30-Day Avg 500 450 400 350 325 302 300 275 Avg Boe/d 244 ROR 119% ROR 99% 250 ROR 79% 200 ROR 76% All operated & 150 All operated 30 days of& production…
  9. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 9
    Mississippian 30 Day Peak Rate Histogram 30 Day average peak rates for all Operated Wells 325 Boe/d YE 2011 Type Curve 275 Boe/d 10
  10. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 10
    Mississippian Drilling Performance Improvements Goal: Increase drilling efficiencies Days to Rig Release 4Q Average 30 Days to RR 20 10 0 Lariat 12 Atlas 02 Result: Improved days to rig release from 30 days to 20…
  11. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 11
    Mississippian Production Growth 32,000 New SD High: 160 30,000 30,558 Boe/d 150 (05/22/2012) 28,000 140 26,000 130 24,000 120 22,000 110 20,000 100 18,000 90 NET BOEPD RIG COUNT 16,000 80 14,000 70 12,000 60…
  12. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 12
    Mississippian Economics 204 Mbbl (100% Crude) 1,512 MMcf 456 Total MBoe 3.2 MM/well(a) 275 Boe/d 30 day IP PV-10 4,935 M(b) 79% IRR(b) Total Resource (net acres) WI 100%, NRI 83% 2012 Drilling Program 380 wells WI 62%, NRI…
  13. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 13
    Permian Central Basin Platform Tex-Mex Robertson Shallow, Carbonate Oil Play 225 M net acre prospective area Fullerton 7,350 potential locations Fuhrman - Mascho 4,500 9,000 depth to target formation Most active driller (13…
  14. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 14
    Permian Economics 53 Mbbl (85% Crude) 27 MMcf, dry 58 Total MBoe 643 M/well 53 Boe/d 30 day IP PV-10 645 M(a) 61% IRR(a) 2012 Drilling Program WI 91% NRI 70% Total Resource WI 88% NRI 68% 7,350 Locations 15 (a) NYMEX…
  15. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 15
    Gulf of Mexico Strategy DOR acquisition consistent with SandRidge strategy as an early mover into undervalued oil assets Continues focus on oil production from high quality reservoirs with decades of production history Oil priced…
  16. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 16
    Hedges Actively Locking in High Rates of Return Oil Swaps Oil Collars Price Volume (MMBbls) Ceiling Floor Volume (MMBbls) 1Q12 99.21 3.04 - - - 2Q12 100.23 3.73 114.00 85.00 0.07 3Q12 100.52 4.05 114.00 85.00 0.06 4Q12 100.67 4.20…
  17. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 17
    Company Strategy 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 Strategy Mississippian…
  18. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 18
    Appendix
  19. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 19
    2012 Operational Guidance (as of 05/03/12*) Production Differentials Oil (MMBbls) (a) 18.2 Oil (a) 9.00 Natural Gas (Bcf) 84.8 Natural Gas 0.50 Total (MMBoe) 32.3 Capital Expenditures ( in millions) Cost per Boe Exploration and…
  20. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 20
    2012 E&P Capital Expenditure Plans Well Count Total Gross Net Capex (MM) Mid-Continent 380 236 755 Mid-Continent - SWD 57 43 135 Permian 759 686 479 Offshore (Dynamic) N/A N/A 200 All Other Areas N/A N/A 24 Sub-total 1,195…
  21. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 21
    Capital Structure Overview in millions Senior Notes Preferred Stock Floating Rate Sr Notes due 2014 350 8.5% Convertible Perpetual Preferred (a) 265 9.875% Sr Notes due 2016 355 6.0% Convertible Preferred (b) 200 8.0% Sr Notes due…
  22. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 22
    Royalty Trusts Overview SDT PER SDR Units % Units % Units % SD 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% 7,393,750 14.9% Total SD 8,216,063…
  23. JUNE 2012 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 23
    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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