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JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Jul 1, 2013 · 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. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 1
    Annual Shareholders Meeting July 1, 2013
  2. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 2
    SandRidge at a Glance Asset Map Market Value ( in millions) Mid-Continent Mississippian Market Cap (6/28/2013) 2,347 Rig Count: 25 Net Debt(a) 1,886 Preferred Stock 765 Permian Rig Count: 3 Enterprise Value 4,998 Oklahoma…
  3. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 3
    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…
  4. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 4
    Company Highlights High rate of return, oil weighted development opportunities; 40% IRR at current strip prices 105% production growth in 1Q13, year-over-year Leaders in the Largest salt water disposal and electrical infrastructure…
  5. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 5
    Credit Metrics and Liquidity Pro Forma LTM Adjusted EBITDA(a)(d) Net Debt & Total Debt(b)(d) 1,250 1,183 4,301 1,130 4,000 3,549 1,000 3,195 815 2,893 2,814 3,000 750 MM MM 593 629 2,000 500 1,000 250 0 0 2Q11 4Q11…
  6. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 6
    2013 Capital Expenditure Guidance Total Capital Expenditures 2013E Well Count Total E&P - 85% Gross Net Capex (MM) Land & Seismic - 7% Drilling and Completion Mississippian 425 292 1,040 Oil Field Services - 1% Mississippian -…
  7. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 7
    2013 Production Guidance Robust Mississippian Growth 13% organic production growth 2012 2013 Annual Actuals Guidance Growth Oil (MMBbls)(a) 4.7 7.6 64% 19% organic oil(a) production growth Gas (Bcf) 33.0 51.3 55% Total (MMBoe)…
  8. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 8
    2013 Development Focus Focus areas encompass 2.8MM total acres across six counties, spanning 130 miles Concentrating 2013 drilling in focus areas, driving higher rates of return and capitalizing on existing…
  9. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 9
    Type Curve Comparison to Focus Area Production Normalized Production from Development Focus Areas Focus Area 30-Day IP Performance Gas(a) YE 2012 Type Curve Oil(b) YE 2012 Type Curve YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR…
  10. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 10
    Mississippian Overview Industry Leader: Net Acres: 1,850,000 Rig Count: 25(a) Production: 39.5 MBoe/d (1Q13) SD Horizontal Wells Drilled: 725(b) Salt Water Disposal Wells: 118(b) SD horizontal wells Peer horizontal…
  11. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 11
    Mississippian Production Growth 45 44.4 Average Quarterly Volumes 70 105% year-over-year production Average Quarterly Rig Counts 40 39.5 growth 35.9 60 35 Commodity mix steady at 45% oil(a) 30.2 and 55% natural gas 30…
  12. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 12
    Mississippian Economics & Reserves Type Curve(a) Type Curve Parameters 160 900 Oil (LHS) EUR(b): 369 MBoe 140 800 Gas (RHS) Well Costs: 3.1MM 700 120 39% IRR 600 100 Mcf/d 500 Bbls/d 80 400 Oil 60 EUR: 107 MBbl…
  13. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 13
    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…
  14. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 14
    SandRidge: Low Cost Mississippian Developer D&C Cost Progression 4.0 3.6 3.5 3.4 Decreased drilling and completion costs by 3.1 3.1 500M/well (14%) from 1Q12 to 1Q13 3.0 MM 2.0 1.0 Targeting gross well costs below 3.0MM…
  15. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 15
    Performance Initiatives to Further Reduce Well Costs SandRidges development teams are working on multiple initiatives to enhance rates of return by further reducing Mississippian well costs Year-end 2013 target of less than 3.0MM…
  16. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 16
    SandRidge: Low Cost Mississippian Operator Trucked Water Progression Proactively managing infrastructure needs 9% 8.1% 8% and capitalizing on scale allows SandRidge % of Produced Water Trucked 7% to be a low cost operator in…
  17. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 17
    Gulf of Mexico / Gulf Coast Overview Gulf of Mexico / Gulf Coast Production Overview 35 32.4 31.7 Shallow, offshore Gulf of Mexico 31.0 30 and Gulf Coast properties All wells on fixed structures 25 22.9 Properties from Mustang…
  18. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 18
    Annual Shareholders Meeting July 1, 2013
  19. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 19
    Appendix
  20. JULY 2013 ANNUAL SHAREHOLDERS MEETING – 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. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 21
    Hedging Overview Oil 2Q13 3Q13 4Q13 2013 2014 2015 Swaps Volumes (MMBbls) 3.27 3.12 3.10 14.01 7.51 5.08 Price (/Bbl) 99.26 99.27 99.11 98.68 92.43 83.69 Three-way Collars Volumes (MMBbls) - - - - 8.21 2.92 Call Price (/Bbl) - -…
  22. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 22
    2013 Operational Guidance Production Differentials Oil (MMBbls) (a) 15.5 Oil (a) 8.50 Natural Gas (Bcf) 103.2 Natural Gas 0.45 Total (MMBoe) 32.7 Capital Expenditures ( in millions) Cost per Boe Exploration and Production…
  23. JULY 2013 ANNUAL SHAREHOLDERS MEETING – 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 90%…
  24. JULY 2013 ANNUAL SHAREHOLDERS MEETING – Sandridge Energy, Inc. – slide 24
    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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