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2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Oct 2, 2012 · 23 slides

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Slides

  1. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 1
    2012 Johnson Rice Energy Conference October 2, 2012
  2. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 2
    Corporate Profile Mid-Continent Mississippian Market Value ( in billions) 1,750,000 net acres 8,000 net locations(f) Market Cap (09/25/12) 3.4 Current rig count: 30 Permian Net Debt(a)(b) 3.1 225,000 net acres Preferred Stock 0.8…
  3. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 3
    Three Year Objectives EBITDA 2 Billion 33.0 23.4 CapEx Funded Within Cash Flow 20.1 17.5 Continue to Improve Credit Metrics 4 (a) Includes NGLs
  4. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 4
    Capital Spending Funding Plan 2012 Fully funded through organic cash flows, Mississippian joint venture, royalty trust IPO, secondary unit sales, and non-core asset sales August 1.1 Billion bond offering June 30th 1.9 Billion…
  5. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 5
    Credit Metrics and Liquidity Pro Forma LTM Adjusted EBITDA(a)(e) Net Debt & Leverage(b)(e) 1,200 1,130 7.0x 3,128 3,149 2,903 2,889 1,000 3,000 2,757 2,606 6.0x 800 733 684 4.6x 5.0x 613 629 2,000 4.3x MM MM 600 4.1x…
  6. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 6
    Hedges Actively Locking in High Rates of Return Oil Q3 2012 Q4 2012 2012 2013 2014 2015 Swaps Volumes (MMBbls) 4.05 4.20 15.02 18.52 6.78 5.08 Price (/Bbl) 100.52 100.67 100.22 96.24 92.15 83.69 Three-way Collars Volumes (MMBbls) -…
  7. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 7
    Organic Growth Economics Liquids Driven Returns Permian Oil EUR 53 Mbbl (85% Crude) 140% Gas EUR 27 MMcf, dry 120% Total EUR 58 Total Mboe 100% BTAX RoR 80% Gross Well Cost 643 M/well 60% 30 Day IP 53 Boe/d 40% (b) PV-10…
  8. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 8
    Permian Central Basin Platform Statistics Central Basin Platform 13 Billion Bbls cumulative production Production spans 3 million acres Top producing zones San Andres/Clear Fork Shallow, Carbonate oil zones 225M net acres in SD…
  9. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 9
    SandRidge: Dominating the Horizontal Mississippian Play 2.2 Million acres SD & partners control the largest acreage position in the play 30 Rigs across 200 miles 2x rigs as the next most active operator 432 Wells drilled 45% of…
  10. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 10
    Mississippian 962 Drilled Wells and 85 Active Rigs Wells Drilled Active Rigs SandRidge* 432 30 Chesapeake 266 15 Eagle 58 2 Calyx 22 0 Kansas Range 23 3 Plymonth 15 1 Shell 17 1 Territory Res. 10 1 Panther 8 0 Chaparral 9 0…
  11. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 11
    Mississippian Oil: Contending with Top US Onshore Oil Plays Oil Resource Wells 2,000 Max BOPD Wells Play BOPD per Well Mississippian 640 2 2,394 Bakken 4,371 3 2,239 Eagle Ford 2,267 1 2,377 Bakken Mississippian Eagle…
  12. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 12
    Mississippian Performance 30 Day Average Rates 1,597 Boe/d Total Program: 364 Wells 30 Day Average Rate: 335 Boe/d Boe/d 674 Boe/d 266 Boe/d 55 Boe/d 0 100 101 - 500 501 -1,000 1,000 Boe/d Range 64 Wells 237…
  13. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 13
    Mississippian Production Growth Organic Growth From Drilling 25,240 2010 Avg rig count = 5 2011 Avg rig count = 15 2012 Projected avg rig count = 26 19,310 Ramping 1 rig/month reaching 45 Rigs by YE 2013 15,520 49% Crude Oil…
  14. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 14
    Kansas Mississippian: More of the Same Industry Horizontal Activity SandRidge: KS Hz Miss Activity Drilled 69 wells in Kansas 46 Producing with 30 days production Apache 317 boe/d (30 day avg) Projected EUR 300-500 mboe 67% of…
  15. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 15
    Extending the Horizontal Mississippian SandRidge Recent Developments 14 Drilled Wells (6 Producing) Established commercial production 80 miles to the Northwest of Best Well: Comanche County, Kansas 24hr rate of 599 Boe/d Comparable…
  16. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 16
    Maximize Value Through Infrastructure Investment Disposal System: Key Business Asset Efficiency of Operations (39 days spud to 1st sales) LOE Reduction Barrier to Entry Salt Water Disposal Progress Injection volume 2X Current…
  17. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 17
    SandRidge: Built on a Solid Foundation Generate high rates of return from Continue focus on improving credit quality oil assets metrics Drive double digit oil growth through Lock in returns and protect downside SandRidge…
  18. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 18
    Appendix
  19. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 19
    2012 Operational Guidance Production Differentials Oil (MMBbls) (a) 18.2 Oil (a) 9.00 Natural Gas (Bcf) 88.8 Natural Gas 0.50 Total (MMBoe) 33.0 Capital Expenditures ( in millions) Cost per Boe Exploration and Production 1,700…
  20. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 20
    2012 E&P Capital Expenditure Plans Well Count Total Gross Net Capex (MM) Drilling and Completion Mid-Continent 380 251 830 Mid-Continent - SWD 69 52 100 Permian 750 678 480 Gulf of Mexico N/A N/A 200 All Other Areas N/A N/A 10…
  21. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 21
    Capital Structure Overview in millions Senior Notes(a) Preferred Stock 9.875% Sr Notes due 2016 356 8.5% Convertible Perpetual Preferred (b) 265 8.0% Sr Notes due 2018 750 6.0% Convertible Preferred (c) 200 8.75% Sr Notes due 2020…
  22. 2012 JOHNSON RICE ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 22
    Royalty Trusts Ownership SDT PER SDR Units Percentage Units Percentage Units Percentage SandRidge Retained Units Subordinated Units 7,000,000 25.0% 13,125,000 25.0% 12,431,250 25.0% Common Units 1,216,063 4.3% 2,875,000 5.5%…
  23. 2012 JOHNSON RICE ENERGY 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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