MIDSTATES PETROLEUM COMPANY, INC. 2015 RBC Capital Markets Global Energy & Power Executive Conference June 1, 2015 Jake Brace, President & Chief Executive Officer Nelson Haight, EVP & Chief Financial Officer
Midstates Petroleum Overview Premier position in the Mississippian Lime and a Mississippian Lime(1) Premier position in highreturn core significant inventory of horizontal well locations 26,531 Boed net production(2) in the…
Demonstrated Performance Net Production Adjusted EBITDA (1) 35,000 32,137 500 30,000 Gulf Coast 478 23,926 400 25,000 Anadarko Gulf Coast 300 343 MM 20,000 BOE/D 15,000 Anadarko 200 9,999 10,000 Miss 160 100…
Proactive Steps Taken Following Price Decline Dropped rig count from eight rigs in Q3 2014 to four rigs in Q1 2015 Ceased active drilling in Anadarko and focused solely on Miss Lime Consolidated Houston corporate office into…
Comprehensive Liquidity Enhancing Transaction Transaction announced on May 21, 2015 625 million of Second Lien Senior Secured Note offering due 2020 Annual interest rate of 10% 630.1 million of Senior Unsecured Notes exchanged for…
Bolstered Liquidity Transaction significantly enhances liquidity with minimal increase to debt load Liquidity increased to approximately 420 million on May 21, 2015 251 million revolver availability, plus cash on hand Total debt up…
Mississippian Lime Premier Position Net Production (Boe/d) (1) YE Proved Reserves (MMBoe) (1) 30,000 160 26,531 25,039 139 23,834 140 25,000 20,698 120 20,000 17,579 16,381 Gas 100 14,364 15,000 NGL 80 10,426 68…
Mississippian Lime Differentiated Performance Continuing Top Tier overall well performance in the Mississippian Lime 238 wells on production 30 days: Average peak 30day rate of 569 Boe/d(1) With 3D seismic and improved geological…
Mississippian Lime Type Curve Cawley, Gillespie and Associates Mississippian Type Curve Oil Gas Mississippian Lime PUD type curve below: 10,000 Daily Rate (Bopd, Mcfd) Gross 2 stream 30day IP rate of 517 Boe/d 1,000 and Gross…
Seismic Unlocking Mississippian Upside Utilizing 3D Seismic Increased 2014 Reserves Type Curve EUR by 25% Optimized well placement and completion techniques Identified downspacing potential Identified redrill candidates for…
Mississippian Lime Type Curve Support Well Production vs. YE PUD Type Curve 2014 Wells Boed Normalized Flowing Time (days) 2014 Wells Actual Production 2014 YE PUD Type Curve 2014 Wells Actual Production Average 2014 well…
Upside Mississippian Lime Downspacing Downspacing Opportunities Acreage initially developed with four laterals per section (1320 well spacing) Sections drilled with 4 wells show no interference between wells 3D mapping of…
Anadarko Basin Strong acreage position of 114,000 net acres (83,000 in Texas and 31,000 in Oklahoma) Primary horizons demonstrate similar and predictable results and provide attractive returns with achievable cost reductions…
Demonstrating Capital Efficiency Operating Capital Guidance: 250 to 275 million Gulf Coast Anadarko1% 94% Miss Lime, 5% Anadarko, and 1% Gulf Coast 5% Excludes capitalized interest and G&A, asset retirement obligations, office…
Looking to the Future Comprehensive liquidity enhancing transaction provides the Company with runway to maximize value of premium MidContinent asset base Continue to exploit premier Mississippian Lime asset Excellent team with…
Appendix
Guidance (as of May 6, 2015) Q2 2015 FULL YEAR 2015 Daily Production (Boe/day) 33,000 34,000(1) 30,000 33,000(1) Miss+ Anadarko LA Miss+ Anadarko LA By Area 80% 19% 1% By Area 81% 18% 1% Oil 4045% 4550% 70% Oil 4045% 4550% 70%…
Hedging Summary (as of May 28, 2015) 2015 Oil Q2 Q3 Q4 Total WTI Swaps Volume (Bbls) 1,092,000 1,104,000 1,104,000 3,300,000 Volume (Bbl/d) 12,000 12,000 12,000 12,000 Price (/Bbl) 90.58 71.55 71.56 77.85 Natural Gas Swaps Volume…
Adjusted EBITDA Reconciliation For the Three Months Ended March 31, For the Year Ended December 31, 2015 2014 2013 2012 2011 Adjusted EBITDA reconciliation to net income (loss): Net income (loss) (193,556) 116,929 (343,985)…
Cash Operating Expenses Reconciliation 2015 2014 2013 Q1 Full Year Full Year Operating Expenses GAAP 277,299 533,350 876,915 Adjustments for certain noncash items: Asset retirement accretion (445) (1,706) (1,435) Sharebased…
Liquidity Liquidity May 21, 2015 : 420 mm millions Revolver Cash Balance Letters of Credit Borrowing base Net Liquidity May 21, 2015 Liquidity 169,000 0 (2,000) 253,000 420,000 Liquidity outlook substantially increased with…
Preferred Share Dividend Calculation Calculation Conversion into Conversion into Common Shares Common Shares Per share Total 13.50 11.00 Liquidation preference at October 1, 2012: 1,000.00 325,000,000 24,074,074 29,545,455 Dividend…
Management Team Background Information Mr. Brace has been President, Chief Executive Officer and a Director since March of 2015 Mr. Brace is currently Chairman and Chief Executive Officer of Beaucastel LLC and Sangfroid Advisors Ltd…
Midstates Petroleum Company Contact Information TULSA Investor Relations 321 South Boston, Suite 1000 Jason McGlynn Tulsa, Oklahoma 74103 (918) 9474614 Main Phone (918) 9478550 Jason.McGlynnmidstatespetroleum.com Al Petrie…
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