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2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Oct 4, 2010 · 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. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 1
  2. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 2
    SandRidge: 2008 vs. 2011 2008 2011 Production(a) 77% Gas 78% Oil Revenue 76% Gas 78% Oil Oil to Gas Price Ratio 11:1 21:1 Drilling Locations 99% Gas 44% Oil 111 Oil Locations 7,220 Oil Locations (a) Converted based on Oil…
  3. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 3
    SandRidge Corporate Overview Financial: Market Capitalization (a) 2.05 billion Shares Outstanding 405 million Enterprise Value 5.26 billion Total Debt (b) 2.76 billion Operational: Proved Reserves (c) 288 Mmboe Oil 82% by…
  4. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 4
    SandRidge Executes Oil Strategy Total US Gas Rigs +3% Total SandRidge Oil Rigs +271% Total SandRidge Gas Rigs -87% 6
  5. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 5
    SandRidge Apart from the Crowd SD Oil Drilling Profit margin 46/Boe(a) People = Costs Cash Margin 59/Boe Region People/Mi2 Oil revenue hedged 1.8 billion Control service costs Pennsylvania 274.0 Own 33 drilling rigs United…
  6. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 6
    2nd Half 2010 2011 Capital Allocation 2nd Half of 2010 75% Oil Drilling Drilling transition to oil Oil Oil focused drilling for 2H 2010 75% Projected capex for 2011 95% oil drilling 20 oil rigs are drilling 2H 2010 Central…
  7. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 7
    SandRidge Permian Oil Central Basin Platform Focus High Rate of Return Oil Drilling Low Drilling Costs Predictable Production Profiles Low Acreage Costs 7,200 Permian Oil Drilling Locations Certainty of Economic…
  8. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 8
    Permian Central Basin Platform 30 Industry Rigs Central Basin Platform SandRidge 13 Apache 3 Land 165,000 acres (net) Devon 2 Energen 2 6380 drilling locations Whiting 2 8 Companies 1 13 SD Rigs 13 of 16 SD Permian rigs currently…
  9. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 9
    Permian Basin Central Basin Platform 2,000 Central Basin Platform 3,000 Yates 4,000 Grayburg 5,000 San Andres Clear Fork 6,000 Delaware Basin Midland Basin Wichita - Albany 7,000 8,000 Wolfberry Bone Spring…
  10. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 10
    SandRidge Acquisition History Comparison Concho Apache SandRidge SandRidge Combined Marbob BP Arena Forest SD Deals Deal Size (MM) 1,650 3,100 1,287 800 2,087 % Oil 58% 65% 86% 65% 75% Reserves (Mmboe) 76 141 69 80 149 /Boe…
  11. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 11
    Oklahoma Horizontal Mississippian Oil Play New Core Area High Perm, Carbonate Oil Play 200-400 Mboe/well Shallow oil targets < (6,000 TVD) (53% Crude Oil) Attractive drilling and completion costs 2.5MM/well Extensive Reservoir…
  12. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 12
    Horizontal Mississippi Decline Forecast Horizontal performance exceeds equivalent ratio decline of vertical wells Horizontal Performance predicted using 1.5B factor 200 Mboe to 400 Mboe EUR horizontal oil recovery 2.5MM drilling &…
  13. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 13
    SandRidge Horizontal Mississippi Well Performance SD Well Performance to Date 1st 30 days Peak 30 days Last 30 days CWC Comment Well WI First Sales BOEPD BOEPD BOEPD (mm) 1 60% 2/10/2010 401 417 216 3,024,000 2 100% 3/10/2010 73 193…
  14. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 14
    2010 2011 Planned Asset Sales Estimated Proceeds of 400MM Non-Strategic Assets Divestiture History Wolfberry CO / Piceance May 2008 20,000 net acres E TX / Haynesville June 2009 700 vertical locations W TX / Midstream June 2009…
  15. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 15
    Delaware & Midland Basin Non-Strategic Holdings Midland Basin Central Basin Platform 2 SD Rigs Wolfberry 13 SD Rigs Land 20,000 acres (net) Delaware Basin 700 drilling locations Assets central to core 1 SD Rig activity…
  16. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 16
    Pion Development: Century Plant Phase I completion: 3rd quarter 2010 Double treating capacity Expect 20MM - 30MM annual efficiency gains Largest single industrial source CO2 capture facility in North America Currently qualifies for…
  17. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 17
    WTO Exploration: Prospects and Leads 65 MILES 1,300 SQUARE Pion Field MILES OF 3-D SEISMIC COVERAGE Owens A 103 1A Walker St. 100 1A Over -Thrust Prospects / Leads LF King 9 23 1 Sub -Thrust Prospects / Leads…
  18. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 18
    Hedging History 2007A: 54% 7.91/Mcfe 2008A: 76% 8.97/Mcfe 2009A: 77% 8.59/Mcfe 2010E: 94% 9.29/Mcfe 2011E: 101 Bcfe hedged at 9.47/Mcfe From 2007 to 2010: 78% Production hedged at 8.87/Mcfe From 2H 2010 to 2013: 1.85 Billion Oil…
  19. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 19
  20. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 20
    Appendix 22
  21. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 21
    SandRidge Asset Analysis Post-Acquisition Pro-Forma/Arena Post- (1) ven Reserves Total Proven Reserves219 (MMBoe) (MMBoe) 69 219 288 69 (1) eveloped Proved % Developed 63% 37% % 63% 57% 37% (1) il Value Proven % Oil Value…
  22. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 22
    Wolfberry Play Areas Martin Drill Area Land 3,754 net/gross acres 135 net drilling locations SandRidge Position Wolfberry Trend Land 18,445 net/18,805 gross acres 700 net drilling locations Pegasus Drill Area Land 10,369…
  23. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 23
    Vermejo Field Area - Bone Spring Overview SandRidge Position BONE SPRING HORIZONTAL Chesapeake: 1H Johnson 2-34 POTENTIAL Large leasehold block with controlling Avalon -TVD 8483, 12614 MD Dimmitt interest in the majority of…
  24. 2ND ANNUAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 24
    Notes and Preferred (in millions) 2009A High Yield Bonds: Sr Floating Rate Notes (a) 350 8.625% Sr Nts due 2015 650 9.875% Sr Nts due 2016 351 8.0% Sr Nts due 2018 750 8.75% Sr Nts due 2020 443 Preferred Stock: 8.5%…

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