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IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Apr 17, 2012 · 25 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. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 1
    IPAA 2012 OGIS New York April 17, 2012
  2. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 2
    SandRidge: Low Risk, Shallow, Conventional Oil Financial and Operational Summary Operations Overview Market Value Mid-Continent ( in millions, except for share price) Mississippian 1,500,000 net acres SD Share Price (04/11/12)…
  3. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 3
    3 Year Objectives EBITDA 2 Billion (2014) Double Oil Production (from 2011 levels) Capex Funded Within Cash Flow (EOY 2014) Continue to Improve Credit Metrics 4
  4. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 4
    Dynamic Acquisition: Accretive on All Metrics Acquisition Merits Transaction Metrics in millions Complements SandRidges 3 year plan of Dynamic doubling production, tripling EBITDA and reducing Metric Acquisition our leverage ratio…
  5. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 5
    Operational Highlights Current Production 69 MBoe/d 2011 Oil Production Up 60% from 2010 2012 Drilling Plan includes 1,100 Oil Wells Mississippian = 380 Wells; Permian = 759 Wells 2012 Production Guidance 54% Oil Growth…
  6. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 6
    Mississippian Vast Resource Potential Mississippian Project Shallow, Carbonate Oil Play 17 million acre prospective area Kansas SD 1.5 million net acres Central Kansas Uplift SD 7,000 potential net locations(a) NW Kansas (Miss…
  7. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 7
    Produced Water Disposal Infrastructure Front End Engineering High capacity design Multi-directional flow Minimal production deferment due to downtime Supports extensive future development 51 Produced Water Disposal wells at…
  8. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 8
    Value Creation from Mississippian Play Mississippian Accomplishments Acres 2 Million Accumulated 2 Million acres over last Accumulation two years Lease Costs 400 Million Total cost 400 Million Per Acre Cost 200 / acre…
  9. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 9
    Mississippian Operated Wells Peak 30 Day Avg Rates 160 Miles Barber Comanche 250 Boe/d Harper 251 Boe/d 487 Boe/d KS OK 100 Miles Grant Woods Alfalfa 281 Boe/d 220 Boe/d 366 Boe/d Noble Garfield 268 Boe/d 173…
  10. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 10
    Mississippian 534 Drilled Wells and 64 Active Rigs Wells Drilled Active Rigs SandRidge 254 22 Chesapeake 139 21 Eagle 41 3 Calyx 12 2 Range 11 2 Harper Sumner Comanche Barber Plymouth 10 2 9/3 0/0 Chaparral 3 3 8/2 6/0 2/2 2/0…
  11. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 11
    Mississippian Performance Comparison 30 Day Peak Rates 30-Day Avg 500 450 400 350 317 302 300 275 Avg Boe/d 244 250 200 All operated & 30 days of 150 Allproduction operated & 30 days of 100 production 50…
  12. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 12
    Mississippian Production Growth 24,000 100 New SD High: 21,456 Boe/d 22,000 (03/19/2012) 90 20,000 80 18,000 70 16,000 60 14,000 Net Boepd Rig Count 12,000 50 10,000 40 8,000 30 6,000 Oil Rigs 20 4,000…
  13. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 13
    Mississippian Economics 204 Mbbl (100% Crude) 140% 1,512 MMcf 120% 456 Total MBoe 100% 3.2 MM/well(a) BTAX RoR 80% 275 Boe/d 30 day IP 60% PV-10 5,669 M(b) 98% IRR(b) 40% Total Resource (net acres) 20% WI 100%, NRI 83%…
  14. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 14
    Permian Central Basin Platform Shallow, Carbonate Oil Play 225 M net acre prospective area 7,600 potential locations 4,500 9,000 depth to target formation Most active driller (12 rigs) NAV of 7.2 Billion Multiple pay targets…
  15. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 15
    Permian Economics 53 Mbbl (85% Crude) 27 MMcf, dry 58 Total MBoe 643 M/well 53 Boe/d 30 day IP PV-10 785 M(a) 80% IRR(a) 2012 Drilling Program WI 91% NRI 70% Total Resource WI 88% NRI 68% 7,600 Locations 16 (a) NYMEX…
  16. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 16
    Hedges Actively Locking in High Rates of Return Oil Swaps Oil Collars Price Volume (MMBbls) Ceiling Floor Volume (MMBbls) 1Q12 99.21 3.04 - - - 2Q12 99.48 3.91 108.62 83.03 0.07 3Q12 99.72 4.31 108.15 82.86 0.10 4Q12 100.04 4.42…
  17. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 17
    SandRidge Energy Company Strategy Generate high rates of return from high quality assets Dominate acreage position in core operating areas SandRidge Strategy Drive growth with strategic drilling program Continue focus on ever…
  18. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 18
    Appendix
  19. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 19
    2012 Operational Guidance Guidance includes the anticipated effects of acquiring Dynamic, assuming the acquisition closes on April 30, 2012 Production Differentials (a) Oil (MMBbls) 18.2 Oil (a) 9.00 Natural Gas (Bcf) 84.8 Natural…
  20. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 20
    Capital Structure Overview in millions Senior Notes Preferred Stock (a) Floating Rate Sr Notes due 2014 350 8.5% Convertible Perpetual Preferred 265 (b) 9.875% Sr Notes due 2016 355 6.0% Convertible Preferred 200 (c) 8.0% Sr Notes…
  21. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 21
    2012 E&P Capital Expenditure Plans Well Count Total Gross Net Capex (MM) Mid-Continent 380 236 755 Mid-Continent - SWD 57 43 135 Permian 759 686 479 Offshore (Dynamic) N/A N/A 200 All Other Areas N/A N/A 24 Sub-total 1,195…
  22. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 22
    Capital Funding Plan in millions 2011: Actual 2,500 2,000 231 1,833 250 1,500 578 1,000 334 699 (233) (57) 369 500 410 0 (a) EBITDA Interest Pref Dividends Adj. CFFO Asset Sales SDT Royalty Trust PER Royalty Trust…
  23. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 23
    SDT & PER Interest & Price Overview SDT PER Units Percentage Units Percentage SandRidge Retained Units Subordinated Units 7,000,000 25.0% 13,125,000 25.0% Common Units 2,166,063 7.7% 2,875,000 5.5% Total SD 9,166,063 32.7%…
  24. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 24
    SandRidge Metrics Progression in millions Adjusted EBITDA Production(a) 1,250 40 1,020 32.3 1,000 30 23.4 750 645 654 20.1 MBoe MM 584 20 17.5 500 10 250 0 0 (Note) (Note) 2009 2010 2011 2012E 2009 2010…
  25. IPAA 2012 OGIS NEW YORK – Sandridge Energy, Inc. – slide 25
    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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