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2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Jun 3, 2013 · 23 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. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 1
    2013 RBC Capital Markets Energy & Power Conference June 3, 2013
  2. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 2
    SandRidge at a Glance Asset Map Market Value ( in millions) Mid-Continent Market Cap (5/28/2013) 2,529 Mississippian Rig Count: 25 Net Debt(a) 1,886 Preferred Stock 765 Permian Enterprise Value 5,180 Rig Count: 3 Oklahoma City…
  3. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 3
    2013 First Quarter Review Stacked pay testing program yields early success in three Oklahoma counties Maintained industry leading Mississippian well Company Highlights cost of 3.1MM Completed three Mississippian wells with…
  4. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 4
    2013 Capital Efficiency High grade development of the Mississippian to improve capital efficiency and drive higher rates of return 90% of 2013 drilling in focus areas with predictable results Continue robust development of the…
  5. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 5
    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 -…
  6. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 6
    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…
  7. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 7
    2013 Production Guidance 2013 Mississippian Growth Continued robust development of the Mississippian to drive: 2012 2013 Annual Actuals Guidance Growth 13% organic production growth 19% organic oil(a) production growth Oil…
  8. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 8
    Mississippian Overview Net Acres: 1,850,000 Four locations per section 11,000 potential drilling locations Rig Count: 25(a) Industry Leader Production: 39.5 MBoe/d (1Q13) Industry Leader SD Horizontal Wells Drilled:…
  9. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 9
    Mississippian Production 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…
  10. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 10
    Mississippian Economics Type Curve(a) Type Curve Parameters 160 900 Oil (LHS) EUR(b): 369 MBoe 140 800 Gas (RHS) 700 120 Oil 600 100 EUR: 107 MBbl Mcf/d 500 Bbls/d 80 400 IP (30 Day): 140 Bbl/d 60 Initial Decline:…
  11. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 11
    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…
  12. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 12
    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…
  13. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 13
    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…
  14. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 14
    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…
  15. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 15
    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…
  16. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 16
    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…
  17. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 17
    Credit Metrics and Liquidity Pro Forma LTM Adjusted EBITDA(a)(d) Net Debt & Total Debt(b)(d) 1,183 4,301 1,250 1,130 4,000 3,549 1,000 3,195 2,909 2,893 2,814 815 2,759 3,000 733 750 MM MM 613 593 629 1,886 2,000 500…
  18. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 18
    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…
  19. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 19
    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) - -…
  20. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 20
    Appendix
  21. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 21
    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…
  22. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – Sandridge Energy, Inc. – slide 22
    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%…
  23. 2013 RBC CAPITAL MARKETS ENERGY & POWER CONFERENCE – 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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