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EnerComs The Oil And Gas Conference 18 – Midstates Petroleum

Midstates Petroleum · Aug 14, 2013 · 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. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 1
    Investor Midstates Presentation Petroleum Company, Inc. EnerComs The Oil & Gas Conference 18 October14, August 2012 2013 1
  2. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 2
    Midstates Petroleum Company Overview IPO completed in April 2012 Three Core Operating Areas: Proved Reserves(1) Mississippian Lime in Oklahoma and Kansas 112.0 MMBoe Anadarko Basin in Texas and Oklahoma PV-10% 2.0 Billion Upper Gulf…
  3. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 3
    Strategy for Growth Actively manage investment portfolio Allocate capital to highest return, most predictable projects Focus on execution Aggressively analyze and reduce operating and capital costs Pursue organic growth High…
  4. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 4
    Balanced Portfolio to Drive Rates of Return Anadarko Mississippian Lime Louisiana Proven drilling locations in the Exploit known results Highest potential rate of return Cleveland formation Test new areas and horizons Derisk horizontal…
  5. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 5
    Midstates Acquires Anadarko Basin Assets Key Terms Key Statistics and Benefits Seller: Panther Energy, LLC and its Partners 36.5 MMBoe Proved Reserves (1) Assets: Anadarko Basin in Texas and Oklahoma 45% Oil, 22% NGLs, and 33% Gas…
  6. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 6
    Multiple Targets Across Asset Base Acreage position provides exposure to multiple plays Main drilling targets include Cleveland, Marmaton, Cottage Grove, and Tonkawa Upside potential from drilling the deeper lower Pennsylvanian and…
  7. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 7
    Acreage Targets Oil-Prone Sands Acquired Acreage Legacy Vertical Gas Wells Cleveland Oil Trend Isopach Map Net Isopach values based on DPHI 8%, GR < 90 API Anadarko Basin development historically focused on gassy thick pay…
  8. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 8
    Enhanced Diversification 2013 Production Proved Reserves(1) 2013 Capital Stand-Alone(2) Q1 2013: 16,208 Boe/d Year-End 2012: 75.5 MMBoe 420 - 450 Million Pro Forma Acquisition(2) Louisiana Louisiana 22-25% 25% Miss Lime…
  9. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 9
    Mid-Continent: Mississippian Lime Oil Play Acquired assets in October 2012 Established an office in Tulsa, Oklahoma 82,600 net acres in the Mississippian Lime in Woods & Alfalfa counties Oklahoma(1) Q2 2013 average production:…
  10. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 10
    Concentrated on the Core of the MS Lime 90 wells producing from the Mississippian Lime (1) Production Mix 90% of wells producing with Electrical Submersible Pumps (ESPs) 600 potential future gross drilling locations (3 wells per…
  11. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 11
    Mississippian Lime: A Core Position As of August 2013, Midstates has 85 wells that have been on production for at least 30 days Average peak 30-day rate for all 85 wells is 573 Boe/d 40 wells had 30-day rate in excess of 500 Boe/d 11…
  12. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 12
    Gulf Coast Oil Focused Louisiana Overview Focus Areas Attractive Oil-Weighted Assets DeQuincy Area Well-established production histories Wilcox Horizontal Development LLS Pricing - High Quality Oil: 45o to 50o API Two fields: Modern…
  13. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 13
    Gulf Coast Development Strategy Louisiana Wilcox Horizontal Strategy Continue to test the application of horizontal technology and further delineate our producing fields at a measured and calculated pace North Cowards Gully Target:…
  14. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 14
    Increased Scope and Scale 48% increase 40% increase 50% increase Proved Reserves(1)(2) Current Production(3) Net Acres(5) Panther Panther 33% 30% Panther 27.0 359,750 39% 112.0 MMBoe MBoe/d Net Acres MPO MPO MPO 61% 67%…
  15. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 15
    Targeting Conservative Financial Position Position for strong, stable capitalization with adequate liquidity Target conservative leverage in steady state business millions Achieve strong operating margins Allocate capital to maximize…
  16. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 16
    Capital Investment Plans 2013 Capital Program Supports Growth 2013E Capital Expenditures(2) Guidance: 550 to 575 million 55% Miss Lime, 25% Gulf Coast, and 20% Anadarko(1) Anadarko(1) Gulf Coast Excludes Capitalized Interest(2)…
  17. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 17
    Investment Highlights Attractive Oil/Liquids-Weighted Assets Pro Forma Reserves: 48% Oil & 20% NGLs Multi-Play Diversification Lower-risk Mississippian Lime play balances high-reward Louisiana Upper Gulf Coast Tertiary play…
  18. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 18
    Appendix 20
  19. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 19
    Hedging Summary (as of August 5, 2013) 2013 Q3 Q4 2014 2015 Oil WTI Swaps Volume (Bbls) 1,086,094 1,086,120 4,344,450 1,820,000 Volume (Bbl/d) 11,805 11,806 11,903 4,986 Price (/Bbl) 93.92 94.32 88.76 86.55 WTI Collars Volume…
  20. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 20
    Hedging Strategy On a stand-alone basis, currently hedged approximately 80% of forecasted 2013 volumes and approximately 70% of 2014 oil volumes Layered on additional hedges after closing the Panther Acquisition Target maximizing…
  21. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 21
    Mississippian Lime: Attractive Oil Play 40% Oil, 20% NGL, & 40% Natural Gas NGL Content: 36% Ethane, 27% Propane, 17% Butane, and 20% Pentane Oil Realizations: 6 discount to WTI Gas Realizations: 0.20 discount to Henry Hub Robust…
  22. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 22
    Mississippian Lime Asset Illustrative Economics Illustrative Economics at 90 WTI Oil Price Sensitivity Mid-Point of Range 160% Gross Capex 3.7 (MM) (1) 140% Gross EUR 300 - 460 (Mboe)(2) 120% 100% IP (Boe/d) (3) 600…
  23. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 23
    Increased Scale: Multiple Target Formations DOUGLAS TONKAWA MISSOURIAN COTTAGE GROVE CLEVELAND MARMATON MARMATON BIG LIME OSWEGO DES MOINES PRUE SKINNER RED FORK BARTLESVILLE 25
  24. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 24
    Anadarko Asset, Cleveland Illustrative Economics Illustrative Economics at 90 WTI Oil Price Sensitivity Mid-Point of Range Gross Capex 3.0 (MM) (1) Gross EUR 150 - 200 (Mboe)(2) IP (Boe/d) (3) 270 360 Average WI (4)…
  25. EnerComs The Oil And Gas Conference 18 – Midstates Petroleum – slide 25
    Guidance (as of August 6, 2013) Q3 2013 FULL YEAR 2013 Daily Production (boe/day)(1) 27,000 - 28,000 24,000 - 25,000 Miss+ LA Anadarko Miss+ LA Anadarko By Area 50% 20% 30% By Area 50-55% 25-22% 25-23% Oil 35-40% 60-65% 45-50% Oil…

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