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AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Aug 5, 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. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 1
    August 5, 2011 Investor Presentation
  2. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 2
    SandRidge: Low Risk, Shallow, Conventional Oil Financial and Operational Summary Operations Overview Permian Mid-Continent Market Value 228,000 net acres Mississippian 7,900 locations 900,000 net acres(d) ( in millions, except for…
  3. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 3
    3 Year Strategy By the end of 2014, we anticipate: EBITDA 2 Billion (2014) Annual double digit production growth Capex funded within cash flow (EOY 2014) Total debt to EBITDA 2:1 4 www.SandRidgeEnergy.com
  4. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 4
    Oil Strategy Low Risk, Shallow, Conventional Horizontal Mississippian Oil Drilling Current 900,000 acres(a) 4,000 locations 6,000 average TVD 3.0 MM average cost per well Central Basin Platform Oil Drilling Current 200,000…
  5. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 5
    2011 and 2012 Capital Expenditure Plans Expand holdings and activity in Mississippian and Central Basin Platform (CBP) Accelerate NAV (10 Year Inventory) 2011 Capex increased 500 Million to 1.8 Billion 275 MM for land acquisition…
  6. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 6
    Leading the Industry in Oil Dedicated Drilling Percentage of Rigs Dedicated to Oil(a) 100% 80% 60% 40% 20% 0% Number of Rigs Dedicated to Oil(a) 50 40 30 20 10 - (a) Excludes rigs dedicated to disposal,…
  7. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 7
    Lower Horsepower = Lower Costs (a) SandRidge Greater Rig Availability U.S. Pressure Pumping Report (b) 250,000 Fracturing Horsepower Days 200,000 150,000 100,000 SandRidge 50,000 Lowest Fracturing Horsepower…
  8. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 8
    Permian Basin Central Basin Platform Low Risk, Shallow, Conventional Oil Play High Rate of Return Oil Drilling Low Drilling Costs Proven History of Well Performance Low Acreage Costs ( 200,000 Net Acres) Certainty of Economic…
  9. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 9
    Central Basin Platform Unique Ability to Expand ACTIVE WELL COUNT(a) ACTIVE RIG RANK OPERATOR ( 500 wells) COUNT 1 OCCIDENTAL PERMIAN 5187 1 2 APACHE CORPORATION (BP) 4836 5 3 EXXON / MOBIL (XTO) 3658 1 4 CHEVRON 3583 1 5…
  10. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 10
    Permian Production Growth Spraberry New SD High: 35,000 Divestiture 30,255 Boepd 100 - 1,600 Boepd (07/26/11) 90 30,000 Arena 80 Acquisition 25,000 70 New Mexico 60 RIG COUNT NET BOPED 20,000 Properties Divestiture…
  11. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 11
    Central Basin Platform Economics 7,900 Potential Locations 75 Mbbl (79% Crude) 47 Mmcf, dry 83 Total Mboe 760M/well 65 Boepd 30 day IP 92% IRR(a) (a) NYMEX Strip as of 06/30/2011 12 www.SandRidgeEnergy.com
  12. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 12
    What Makes Central Basin Platform a Great Play Economics Characteristics IRR(a) 92% Scale 200,000 acres NPV per Well (MM)(a) 1.1 7,900 locations F&D (/Boe) 12.27 Type Curve EUR (Mboe/well) 83 Reservoir Knowledge Carbonate…
  13. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 13
    Mississippian Overview High Perm, Carbonate Oil Play Shallow oil target ( 6,000 average TVD) Extensive reservoir control from thousands of vertical wells with 30+ years of history Thick overall carbonate section 250 Attractive…
  14. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 14
    Mississippian Play 160 Miles KS OK 100 Miles 6.5 Million acres 17,000 ( 7,500 within ) vertical Mississippian producing wells SandRidge acreage 111 SandRidge horizontal wells 142 Industry horizontal wells 15…
  15. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 15
    Mississippian Production Growth 18,000 New SD High: 50 PEAK 30 Day Rate 15,720 Boepd 16,000 (07/28/11) 45 Operated IP 297 boepd (92 wells) 14,000 Other IP 257 boepd (44 wells) 40 Total IP 284 boepd (136 wells) 35 12,000 Type…
  16. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 16
    Mississippian Oil Economics 4,000 Potential Locations 180% 211 Mbbl (100% Crude) 160% 140% 1,186 Mmcf 120% BTAX RoR 100% 409 Total Mboe 80% 3.0 MM/well 60% 40% 244 Boepd 30 day IP 20% 0% 94% IRR(b) 60/4.00 80/5.00…
  17. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 17
    What Makes Mississippian a Great Play Economics Characteristics IRR(a) 94% Scale 900,000 acres(d) NPV per Well (MM)(a) 5.6 Early mover in the play F&D (/Boe) 9.75 Type Curve EUR (Mboe/well)(b) 409 Reservoir Knowledge Carbonate…
  18. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 18
    Hedging Contracts in place as of August 1, 2011 Year Ending 12/31/2011 12/31/2012 12/31/2013 12/31/2014 12/31/2015 Oil Swaps: (a) Volume (MMBbls) 9.06 11.15 10.81 4.14 1.50 Swap 87.40 89.35 94.99 101.77 100.54 Natural Gas…
  19. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 19
    Conclusion / Investment Considerations Defined strategy of developing low risk, shallow, conventional reservoirs Executing our two large core oil assets Management of risk 3 year strategy: EBITDA 2 Billion (2014) Annual double…
  20. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 20
    Appendix
  21. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 21
    Capitalization ( in millions) Senior Notes Preferred Stock Floating Rate Sr Notes due 2014 350 8.5% Convertible Perpetual Preferred(a) 265 9.875% Sr Notes due 2016 354 6.0% Convertible Preferred(b) 200 8.0% Sr Notes due 2018 750…
  22. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 22
    2011 Operational Guidance Production Differentials Oil (MMBbls) (a) 12.4 Oil(a) 13.00 Natural Gas (Bcf) 70.0 Natural Gas 0.75 Total (MMBoe) 24.1 Cost per Boe Capital Expenditures ( in millions) Lifting 14.10 - 15.50 Exploration…
  23. AUGUST 2011 INVESTOR PRESENTATION – Sandridge Energy, Inc. – slide 23
    2012 Operational Guidance Production Oil (MMBbls) (a) 16.7 Natural Gas (Bcf) 74.8 Total (MMBoe) 29.1 Capital Expenditures ( in millions) Exploration and Production 1,550 Land and Seismic 170 Total Exploration and Production…
  24. AUGUST 2011 INVESTOR PRESENTATION – 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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