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

Sandridge Energy, Inc. · Aug 13, 2013 · 25 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 13, 2013
  2. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 2
    SandRidge at a Glance Asset Map Market Value ( in millions) Mid-Continent Market Cap (8/9/2013) 2,601 Mississippian Rig Count: 25 Net Debt(a) 2,100 Preferred Stock 765 Permian Enterprise Value 5,466 Rig Count: 3 Oklahoma City…
  3. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 3
    2013 Second Quarter Review Focus on capital efficiency yields positive quarterly results Improved industry leading Mississippian well cost, averaging 2.95MM in the quarter Company Highlights Grew quarterly Mississippian…
  4. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 4
    SandRidge Progression Transition Build Execute 2009 - 2010 2011 - 2012 2013+ Transition away from gas-dominant Initial Mississippian development Increase capital efficiency by asset base brings premium technology and concentrating…
  5. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 5
    2013 Capital Expenditure Guidance Total Capital Expenditures Updated 2013E Well Count Total Gross Net Capex (MM) E&P - 85% Drilling and Completion Mississippian 425 297 1,005 Land & Seismic - 7% Mississippian - SWD 32 23 55 Oil…
  6. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 6
    2013 Updated Production Guidance Total Company Mississippian 40 20 Organic Growth 33.6 8.8 1.1 33.3 15% 32.2 30 15 66% 3.2 28.0 G Gas a G MMBoe MMBoe Gas s 20 a 10 Gas s 26% 76% Gas 10 5 Oil(a) Oil(a…
  7. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 7
    Mississippian Overview Industry Leader: Net Acres: 1,900,000 Rig Count: 25(a) Production: 47.3 MBoe/d (2Q13) SD Horizontal Wells Drilled: 849(b) Salt Water Disposal Wells: 128(b) SD horizontal wells Peer…
  8. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 8
    2013 Development Focus Concentrate development in six derisked focus areas with predictable well results and established infrastructure 3,000 potential net locations across 615,000 net acres, excluding multi-zone upside 90%…
  9. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 9
    Type Curve Comparison to Focus Area Drilling 1st Half 2013 Normalized Production from Focus Areas Gas(a) YE 2012 Type Curve Focus Area 30-Day IP Performance Oil(b) YE 2012 Type Curve Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4…
  10. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 10
    Stacked Pay Overview: Significant Multi-Zone Potential Payzone Map Stacked Payzone Advantages Materially increase resource potential in existing leasehold Improve recovery rates of significant oil in place Reduce well costs per…
  11. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 11
    Mississippian Production Growth 50 48.4 Average Quarterly Volumes 47.3 70 Average Quarterly Rig Counts 45 66% year-over-year production growth 40 39.5 60 35.9 35 Commodity mix steady at 45% oil(a) 50 and 55% natural gas…
  12. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 12
    Mississippian Economics & Reserves Type Curve(a) Type Curve Parameters 160 900 EUR(b): 369 MBoe Oil (LHS) 140 800 Well Costs: 2.95MM Gas (RHS) 120 700 50% IRR 100 600 2.3MM NPV Mcf/d 500 1.9 year Payback Bbls/d 80…
  13. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 13
    Low Cost Mississippian Developer D&C Cost Progression 2Q13 D&C costs of 2.95MM, a 550M/well, or 4.0 3.6 3.5 3.4 14% decrease year-over-year 3.1 3.1 2.95 3.0 Reductions achieved via: MM 2.0 - Redesign of well site…
  14. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 14
    Low Cost Mississippian Operator Trucked Water Progression Percentage of Wells on Generator 9.0% 40% 8.0% % on Diesel Generators % on NG Generators Proactively managing infrastructure needs 8.0% 35% and capitalizing on scale allows…
  15. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 15
    Capital Efficiency in the Mississippian Mississippian Capex Trends Capital efficiencies gained through well cost 300 140 127 120 reductions and concentrated drilling within 250 24% 27% 20% our focus areas has become evident…
  16. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 16
    Gulf of Mexico / Gulf Coast Overview Gulf of Mexico / Gulf Coast Production (a) Overview 35 32.4 31.7 Shallow, offshore Gulf of Mexico 31.0 30 28.7 and Gulf Coast properties All wells on fixed structures 25 22.9 Properties from…
  17. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 17
    Credit Metrics and Liquidity Pro Forma LTM Adjusted EBITDA(a)(d) Net Debt & Total Debt(b)(d) 4,301 1,250 1,183 1,130 4,000 3,549 1,000 897 3,195 2,893 2,814 3,000 MM 750 MM 629 593 2,100 2,000 500 250 1,000 0…
  18. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 18
    Company Highlights Premier operator in the play with the lowest cost structure High rate of return, oil weighted development opportunities; 50% IRR at current strip prices Leader in the Largest salt water disposal and electrical…
  19. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 19
    Appendix
  20. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 20
    Capital Structure Overview in millions Senior Notes Preferred Stock 8.5% Convertible Perpetual Preferred(a) 265 8.75% Sr Notes due 2020 444 6.0% Convertible Preferred(b) 200 7.5% Sr Notes due 2021 1,179 7.0% Convertible Perpetual…
  21. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 21
    Hedging Overview Oil 3Q13 4Q13 2013 2014 2015 Swaps Volumes (MMBbls) 3.21 3.31 14.32 7.69 5.08 Price (/Bbl) 99.21 99.09 98.67 92.52 83.69 Three-way Collars Volumes (MMBbls) - - - 8.21 2.92 Call Price (/Bbl) - - - 100.00 103.13…
  22. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 22
    2013 Operational Guidance Production Differentials (a) Oil (MMBbls) 16.3 Oil (a) 9.50 Natural Gas (Bcf) 102.0 Natural Gas 0.45 Total (MMBoe) 33.3 Capital Expenditures ( in millions) Cost per Boe Exploration and Production…
  23. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 23
    Royalty Trusts Overview SandRidge Mississippian SandRidge SandRidge Mississippian Trust I Permian Trust Trust II Ticker SDT PER SDR AMI Net Acres 41,900 15,300 52,200 Producing Wells 37 517 67 Trust Interest in Producing Wells…
  24. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 24
    Proved Reserves Overview YE12 Proved Reserves(a) P.F.(c) Reserves by Category(a) Oil(b) Gas Reserves (MBbls) (MMcf) (MBoe) Year-End 2012 330,040 1,415,042 565,880 PDP - 46% Permian Sale Adjustments (160,836) (228,229) (198,874) PDNP…
  25. ENERCOMS THE OIL AND GAS CONFERENCE – Sandridge Energy, Inc. – slide 25
    Contact: Investor Relations Address: 123 Robert S. Kerr Avenue, Oklahoma City, OK 73102 Phone: 405-429-5515 Email: InvestorsSandRidgeEnergy.com Website: www.SandRidgeEnergy.com

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