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CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Feb 8, 2011 · 24 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. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 1
    February 8, 2011 Credit Suisse 2011 Energy Summit Vail, CO
  2. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 2
    SandRidge Continued Focus on Oil 64,600 Boe/d Production(a) (30,000 Bo/d) Oil Revenue(b) 80% Oil to Gas Price Ratio(c) 22:1 20,000 Locations Drilling Locations(d) (11,100 Oil Locations) Drilling Dedicated to Oil(e) 100%…
  3. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 3
    Oil Strategy Shallow, Low Cost, Conventional Acquisition of Permian Central Basin Platform CBP properties 7,600 Boe/d in December 2009 (FST) 8,200 Boe/d in July 2010 (ARD) Ramp up oil drilling in CBP 2009 rig count 2 Current rig…
  4. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 4
    SandRidge Operating Areas 2011 Drilling Forecast 2011: 121 Wells 11 Rigs Midcontinent OKLAHOMA CITY 2011: 804 Wells 16 Rigs Permian Basin MIDLAND East Texas MIDLAND FT. STOCKTON West Texas Overthrust Texas Gulf…
  5. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 5
    Permian Basin Central Basin Platform Has produced oil for over 80 years Is the 3rd largest petroleum producing area in the U.S. after the Gulf of Mexico and Alaska 29 billion barrels produced from the Permian Basin 13 billion…
  6. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 6
    Permian Basin Central Basin Platform 2,000 Platform Carbonates 3,000 Yates 4,000 Grayburg San Andres 5,000 Clear Fork 6,000 Delaware Basin Midland Basin Wichita - Albany 7,000 8,000 Wolfberry Bone Spring…
  7. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 7
    Central Basin Platform Overview High Rate of Return Oil Drilling Low Drilling Costs Predictable Production Profiles Low Acreage Costs Certainty of Economic Return SD is most active driller with 16 of 44 rigs running 8…
  8. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 8
    Central Basin Platform High Rate of Return 8,073 Potential Locations(a) Permian Average Type Curve 65 Mbbl (87% Crude) 63 Mmcf 75 Total Mboe 730M/well 95% Revenue at Strip from Liquids 47 Boe/d 30 day IP 60% ROR (NYMEX…
  9. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 9
    Mid-Continent Horizontal Mississippian Oil Overview High Perm, Carbonate Oil Play Shallow oil target (< 6,000 TVD) Attractive drilling and completion costs Extensive reservoir control from thousands of vertical wells Thick overall…
  10. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 10
    Horizontal Mississippian Oil High Rate of Return 3,400 Potential Locations(a) Horizontal Mississippian Type Curve 211 Mbbl (100% Crude) 1,186 Mmcf 409 Total Mboe (b) 77% Revenue at 2.7MM/well Strip from Crude Oil 244 Boe/d 30…
  11. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 11
    Horizontal Mississippian Oil Acreage 160 Miles KS OK 100 Miles 6.5 Million Acres SandRidge Focus Area 17,000 ( 7,000 within ) Vertical Mississippian producing wells SandRidge currently owns 750,000 Net Acres 37 SandRidge…
  12. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 12
    Horizontal Mississippian Oil Decline Model Horizontal performance currently predicted using 1.5 B factor Yields 211 Mbo EUR horizontal oil recovery 409 Mboe(a); 100% ROR; 2.7MM capex 30 Years + of vertical performance data (B =…
  13. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 13
    Horizontal Mississippian Well Performance 1st 30 days Peak 30 days Last 30 days Comment Well First Sales BOE/D BOE/D BOE/D 1 2/10/2010 401 417 72 2 3/10/2010 73 197 171 NSAI Average 1st Month 3 4 3/30/2010 4/21/2010 126 192…
  14. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 14
    Single Well Comparison Oil/Liquid Plays Mississipian Bakken Eagle Ford Eagle Ford Horizontal Oil Shale(c) Oil Window (c) Condensate Window (c) Economics IRR (a) 109% 79% 61% 73% NPV per Well (MM) (a) 5.45 10.90 4.50 10.30 F&D…
  15. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 15
    Horizontal Mississippian Drill Times Trending Lower 16
  16. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 16
    No Bottlenecks in Horizontal Mississippian Drilling Program Conventional 1,000 hp rigs Currently contracting 5 third party rigs 6 SandRidge rigs running SD owns 31 rigs Completion Program Frac Crews Low pressure equipment…
  17. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 17
    Horizontal Mississippian Extensive Infrastructure Map courtesy of Atlas Pipeline Partners, L.P. 18
  18. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 18
    Completed / Planned Asset Monetization Acreage Monetization History Piceance May 2008 Haynesville June 2009 Estimated Proceeds of 600MM to 800MM Cana July 2010 Delaware Basin Dec 2010 2011 Delaware = 110 MM CLOSED Wolfberry = 155…
  19. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 19
    Significant Gas Upside POTENTIAL GAS RESOURCE LOCATIONS WTO 5,371 Sahara SAHARA OKLAHOMA 2,041 OKLAHOMA CITY EAST TEXAS 1,466 OTHER 50 SD TOTAL 8,928 MIDLAND East Texas FT. STOCKTON West Texas Overthrust Texas Gulf…
  20. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 20
    Hedging Contracts in Place as of January 31, 2011 Year Ending 12/31/2011 12/31/2012 12/31/2013 Crude Oil Swaps: Volume (MMBbls) 8.29 9.55 5.38 Swap 86.08 87.10 88.77 Natural Gas Swaps: (a) Volume (Bcf) 59.57 26.85 0.00 Swap…
  21. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 21
    Appendix
  22. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 22
    Financial Overview (NYSE: SD) Notes and Preferred Market Capitalization(a) 3.10 billion (in millions) Shares Outstanding 406 million High Yield Bonds: (b) Enterprise Value 6.87 billion Sr Floating Rate Notes (a) 350 (c) Total…
  23. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 23
    2011 Initial Operational Guidance Table Year Ending Year Ending December 31, 2011 December 31, 2011 Initial Initial Guidance as of Guidance as of November 4, 2010 November 4, 2010 Production Oil (MMBbls) (1) 11.2 Natural Gas…
  24. CREDIT SUISSE 2011 ENERGY SUMMIT – Sandridge Energy, Inc. – slide 24
    Contact: Kevin R. White SVP Business Development 123 Robert S. Kerr Avenue Oklahoma City, OK 73102 405-429-5515 kwhiteSandRidgeEnergy.com www.SandRidgeEnergy.com

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