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BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Nov 13, 2012 · 22 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. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 1
    Bank of America Merrill Lynch Global Energy Conference November 13, 2012
  2. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 2
    Corporate Profile Mid-Continent Mississippian Market Value ( in billions) 1,850,000 net acres 11,000 net locations(e) Market Cap (11/09/12) 2.7 Current rig count: 30 Permian Net Debt(a) 3.6 225,000 net acres Preferred Stock 0.8…
  3. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 3
    2012: Third Quarter Review Achieved record oil production of 4.9 MMBbls (Total production of 9.5 MMBoe) Grew Mississippian average daily production 20% quarter-over-quarter and 138% year- Company Highlights over-year…
  4. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 4
    Corporate Objectives CapEx Funded Within Cash Flow Continue to Improve Credit Metrics Double Digit Production Growth Focus on Development of the Horizontal Mississippian 5
  5. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 5
    Potential Permian Sale Why Propose a Permian Asset Sale Currently seeing robust valuations for oily, conventional, mature assets Reduce debt; improve financial flexibility Concentrate focus on Horizontal Mississippian assets High…
  6. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 6
    Mississippian Production Growth Organic Growth From Drilling 30.2 2010 of wells drilled = 34 2011 of wells drilled = 167 25.2 2012 Projected of wells drilled = 388 2013 Projected of wells drilled = 581 19.3 43% Crude Oil…
  7. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 7
    2012 2013 Capital Expenditure Plans 2013E 2012E Well Count Total Well Count Total Gross Net Capex (MM) Gross Net Capex (MM) Drilling and Completion Mid-Continent 581 379 1,230 388 265 880 Mid-Continent - SWD 74 54 140 62 47 90…
  8. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 8
    Credit Metrics and Liquidity Pro Forma LTM Adjusted EBITDA(a)(d) Net Debt & Leverage(b)(d) 1,200 1,130 1,133 3,627 7.0x 3,128 1,000 2,903 2,889 3,000 2,757 6.0x 2,606 800 733 684 4.6x 5.0x 613 629 MM 4.3x MM 2,000…
  9. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 9
    Hedges Actively Locking in High Rates of Return Oil Q4 2012 2013 2014 2015 Swaps Volumes (MMBbls) 4.20 18.52 7.51 5.08 Price (/Bbl) 100.67 96.24 92.43 83.69 Three-way Collars Volumes (MMBbls) - - 8.21 2.92 Call Price (/Bbl) - -…
  10. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 10
    SandRidge: Dominating the Horizontal Mississippian Play 2.3 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 507 Wells drilled 45% of…
  11. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 11
    Two Great Plays (Mississippian Bakken) ROR to Increasing Oil & Flat Gas Price ROR to Increasing Oil & Gas Price 100% 100% 90% 90% 80% 80% 70% 70% 60% 60% ROR ROR 50% 50% 40% 40% 30% 30% 20% 20% 10% 10%…
  12. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 12
    Mississippian Performance 30 Day Average Rates Key to the Play Repeatable Results Over Large Scale Play Avg. 1,266 Boepd Avg. 641 Avg. 668 Boepd Boepd Avg. 264 30 Day Average Peak Rate (Boe/d) Avg. 254 Boepd Avg. 1,671…
  13. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 13
    Mississippian 1,140 Drilled Wells and 80 Active Rigs Wells Drilled Active Rigs SandRidge 507 30 Chesapeake 301 8 Eagle (Mid-States) 63 4 Range 30 5 Kansas Shell 25 3 Devon 22 8 Calyx 22 0 Plymonth 16 1 HighMount 14 3 Territory…
  14. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 14
    Kansas Mississippian: More of the Same Industry Horizontal Activity SandRidge: KS Hz Miss Activity Drilled 91 wells in Kansas 64 Producing with 30 days production Apache 291 Boe/d (30 Day Avg) 64% of all wells drilled to date 50%…
  15. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 15
    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…
  16. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 16
    SandRidge: Growing with the Mississippian Generate high rates of return from Continue focus on improving credit quality oil assets metrics Drive double digit growth through Lock in returns and protect downside SandRidge…
  17. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 17
    Appendix
  18. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 18
    2012 Operational Guidance Production Differentials Oil (MMBbls) (a) 17.8 Oil (a) 9.00 Natural Gas (Bcf) 93.0 Natural Gas 0.50 Total (MMBoe) 33.3 Capital Expenditures ( in millions) Cost per Boe Exploration and Production 1,720…
  19. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 19
    2013 Operational Guidance Production Differentials Oil (MMBbls) (a) 19.5 Oil (a) 8.00 Natural Gas (Bcf) 118.2 Natural Gas 0.40 Total (MMBoe) 39.2 Capital Expenditures ( in millions) Cost per Boe Exploration and Production 1,450…
  20. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 20
    Capital Structure Overview in millions Senior Notes Preferred Stock 9.875% Sr Notes due 2016 356 8.5% Convertible Perpetual Preferred (a) 265 8.0% Sr Notes due 2018 750 6.0% Convertible Preferred (b) 200 8.75% Sr Notes due 2020 444…
  21. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 21
    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 528,063 1.9% 2,875,000 5.5%…
  22. BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE – Sandridge Energy, Inc. – slide 22
    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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