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Q3 2013 EARNINGS CALL – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Nov 6, 2013 · 20 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. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 1
    2013 Third Quarter Earnings Update November 6, 2013
  2. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 2
    Mid-Continent Multi-Pay Program Prolific Regional Formations Marmaton Chester Upper Mississippian Middle Mississippian Lower Mississippian Woodford 3 Schematic diagram - Not to scale
  3. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 3
    Marmaton Development, Comanche County, KS Vertical Appraisal Program Identified New Horizontal Development Geologic team constructed regional Marmaton model Drilled vertical appraisal well 30 Day IP of 496 Boe/d Drilling…
  4. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 4
    Chester Development, Woods County, OK Significant Development Potential with High Oil Cut Deliverability Well 1 Well 2 Well 3 Well 4 Chester Development: West Woods County Strong production results have been established…
  5. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 5
    Upper & Lower Mississippian Development, Harper County, KS Testing Separate Producing Intervals within Same Section Stacked lateral development plan with multi-well design and Well 2 enhanced completion technique will maximize…
  6. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 6
    Upper & Lower Mississippian Development, Grant County, OK Multi-Well Development of Stacked Mississippian Pay Upper and Lower Miss pays established in adjacent laterals - 2 Upper and 5 Lower Mississippian test wells averaged 400…
  7. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 7
    Woodford Appraisal Program, North Central OK Key Industry Woodford Producers Near SandRidge Leasehold Devon, Conrady - 295 Bbls/d Industry Woodford Activity Industry Performance, 10 North Central Counties - 68 Wells Grant - IP…
  8. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 8
    Enhanced EUR and Cost Reduction Initiatives Enhanced EUR Open Hole packer systems to allow production from natural fracture networks Dendritic fracture stimulation to create additional fracture networks near wellbore Electric…
  9. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 9
    Enhanced EUR Initiatives Case Study: Encouraging Results from Same Section Test 900 200 Boe/d Outperformance in 800 Second Well Technical design changes: Well 2 700 Open hole packer system 600 500 Boe/d Dendritic 10-stage…
  10. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 10
    Multi-Well Pads with Centralized Tank Batteries Dual Well Pad Development Example Dual Well Pad Location and Schematic Design saves estimated 100 M per well as compared to building two separate facilities Case Study: Dual well pad…
  11. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 11
    Low Cost, Produced Water Injection Wells Innovative Design Eliminates Injection Well Facilities Single Well Pad Location and Schematic Injection well ranges from 800,000 to 1,000,000 Producer Wellhead Estimated savings by…
  12. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 12
    Type Curve Comparison to Focus Area 2013 Focus Area Drilled Wells: 211 Normalized Production from Focus Areas Gas(a) YE 2012 Type Curve Oil(b) YE 2012 All Focus Area Producing Wells: Type Curve 616 Gas(a) YE 2012…
  13. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 13
    Improved Production and EBITDA of Current SD Properties YTD Pro Forma Adjusted EBITDA 800 740 Pro Forma YTD Adjusted EBITDA increased 42% in 2013 700 over 2012 600 522 500 MM 400 Cash flow growth primarily sourced from…
  14. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 14
    Midcon / Mississippian Historical Progression 500 60 50 400 40 MM 300 MBoe/d 30 200 20 100 10 0 0 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 Gross Profit Capex Production Gross Profit is oil and gas…
  15. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 15
    Credit Profile Leverage(a) 1.7B of liquidity at quarter end 5.0x 4.6x 4.3x - 920MM of cash 4.0x - Fully undrawn 775MM credit facility 3.4x 2.9x 3.0x 2.4x 2.4x 2.0x Credit facility reaffirmed in October at 775MM 1.0x…
  16. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 16
    2013 & 2014 Guidance 2013 2014 2013 2014 Production Price Realizations Oil (MMBbls) 14.2 15.4 (a) Natural Gas Liquids (MMBbls) 2013 P.F. 2.2 3.9 Oil (differential below WTI) 0.50 1.00 Total Liquids (MMBbls) 15.5 16.5 19.3 NGLs…
  17. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 17
    Production Guidance 2014 Guidance Guidance by Region 40 40 36.3 35 33.6 36.3 30 35 2.6 25 32.5 MMBoe 20 12% P.F 3.3 32.5 Growth 30 15 8.3 10 5 25 10.1 2.5 0 2013 Guidance 2014 Guidance 1.1MMBoe of non-recurring…
  18. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 18
    Midcon / Mississippian Production Guidance Midcon / Mississippian Production Guidance 2013 Midcon / Mississippian Quarterly Production 62.6 50.1 50 47.3 47.9 60 39.5 40 25.5 23.6 25.0 MBoe/d 30 21.2 50 20 46.2…
  19. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 19
    2013 & 2014 Capex Guidance in millions 2013 2014 2013 2014 Well Counts Drilling and Completion Gross Net Gross Net Midcon / Mississippian 1,030 965 Midcon / Mississippian Focus Area 435 308 430 308 Midcon SWD Wells 55 55 Permian…
  20. Q3 2013 EARNINGS CALL – Sandridge Energy, Inc. – slide 20
    Contact: Investor Relations Address: 123 Robert S. Kerr Avenue, Oklahoma City, OK 73102 Phone: 405-429-5515 Email: InvestorsSandRidgeEnergy.com Website: www.SandRidgeEnergy.com

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