Barclays CEO Energy & Power Conference September 11, 2013
SandRidge at a Glance Asset Map Market Value ( in millions) Mid-Continent Market Cap (9/6/2013) 2,724 Mississippian Rig Count: 25 Net Debt(a) 2,100 Preferred Stock 765 Permian Enterprise Value 5,589 Rig Count: 3 Oklahoma City…
2013 Second Quarter Review Focus on capital efficiency yields positive quarterly results Improved industry leading Mississippian well cost, averaging 2.95MM in the quarter Company Highlights Grew quarterly Mississippian…
SandRidge Progression Transition Build Execute 2009 - 2010 2011 - 2012 2013+ Transition away from gas-dominant Initial Mississippian development Increase capital efficiency by asset base brings premium technology and concentrating…
2013 Capital Expenditure Guidance Total Capital Expenditures Updated 2013E Well Count Total Gross Net Capex (MM) E&P - 85% Drilling and Completion Mississippian 425 297 1,005 Land & Seismic - 7% Mississippian - SWD 32 23 55 Oil…
2013 Updated Production Guidance Total Company Mississippian 40 20 Organic Growth 33.6 8.8 1.1 33.3 15% 32.2 30 15 66% 3.2 28.0 G Gas a G MMBoe MMBoe Gas s 20 a 10 Gas s 26% 76% Gas 10 5 Oil(a) Oil(a…
Mississippian Overview Industry Leader: Net Acres: 1,900,000 Rig Count: 25(a) Production: 47.3 MBoe/d (2Q13) SD Horizontal Wells Drilled: 849(b) Salt Water Disposal Wells: 128(b) SD horizontal wells Peer…
2013 Development Focus Concentrate development in six derisked focus areas with predictable well results and established infrastructure KS 3,000 potential net locations across OK 615,000 net acres, excluding multi-zone…
Type Curve Comparison to Focus Area Drilling 1st Half 2013 Normalized Production from Focus Areas Gas(a) YE 2012 Type Curve Focus Area 30-Day IP Performance Oil(b) YE 2012 Type Curve Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4…
Stacked Pay Overview: Significant Multi-Zone Potential Payzone Map Stacked Payzone Advantages Materially increase resource potential in existing leasehold Improve recovery rates of significant oil in place Reduce well costs per…
Mississippian Production Growth 50 48.4 Average Quarterly Volumes 47.3 70 Average Quarterly Rig Counts 45 66% year-over-year production growth 40 39.5 60 35.9 35 Commodity mix steady at 45% oil(a) 50 and 55% natural gas…
Mississippian Economics & Reserves Type Curve(a) Type Curve Parameters 160 900 EUR(b): 369 MBoe Oil (LHS) 140 800 Well Costs: 2.95MM Gas (RHS) 120 700 50% IRR 100 600 2.3MM NPV Mcf/d 500 1.9 year Payback Bbls/d 80…
Competitive Advantage in the Mississippian SWD and Electrical investments are critical to success in this play These investments lower our cost structure and provide speed to market We are realizing attractively priced…
Low Cost Mississippian Developer D&C Cost Progression 2Q13 D&C costs of 2.95MM, a 550M/well, or 4.0 3.6 3.5 3.4 14% decrease year-over-year 3.1 3.1 2.95 3.0 Reductions achieved via: MM 2.0 - Redesign of well site…
Low Cost Mississippian Operator Trucked Water Progression Percentage of Wells on Generator 9.0% 40% 8.0% % on Diesel Generators % on NG Generators Proactively managing infrastructure needs 8.0% 35% and capitalizing on scale allows…
Capital Efficiency in the Mississippian Mississippian Capex Trends Capital efficiencies gained through well cost 300 140 127 120 reductions and concentrated drilling within 250 24% 27% 20% our focus areas has become evident…
Gulf of Mexico / Gulf Coast Overview Gulf of Mexico / Gulf Coast Production (a) Overview 35 32.4 31.7 Shallow, offshore Gulf of Mexico 31.0 30 28.7 and Gulf Coast properties All wells on fixed structures 25 22.9 Properties from…
Credit Metrics and Liquidity Pro Forma LTM Adjusted EBITDA(a)(d) Net Debt & Total Debt(b)(d) 4,301 1,250 1,183 1,130 4,000 3,549 1,000 897 3,195 2,893 2,814 3,000 MM 750 MM 629 593 2,100 2,000 500 250 1,000 0…
Company Highlights Premier operator in the play with the lowest cost structure High rate of return, oil weighted development opportunities; 50% IRR at current strip prices Leader in the Largest salt water disposal and electrical…
Appendix
Capital Structure Overview in millions Senior Notes Preferred Stock 8.5% Convertible Perpetual Preferred(a) 265 8.75% Sr Notes due 2020 444 6.0% Convertible Preferred(b) 200 7.5% Sr Notes due 2021 1,179 7.0% Convertible Perpetual…
2013 Operational Guidance Production Differentials (a) Oil (MMBbls) 16.3 Oil (a) 9.50 Natural Gas (Bcf) 102.0 Natural Gas 0.45 Total (MMBoe) 33.3 Capital Expenditures ( in millions) Cost per Boe Exploration and Production…
Royalty Trusts Overview SandRidge Mississippian SandRidge SandRidge Mississippian Trust I Permian Trust Trust II Ticker SDT PER SDR AMI Net Acres 41,900 15,300 52,200 Producing Wells 37 517 67 Trust Interest in Producing Wells…
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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