MIDSTATES PETROLEUM COMPANY, INC. Imperial Capital Global Opportunities Conference September 17, 2015 Jake Brace, President & Chief Executive Officer
Key Highlights Reported Adjusted EBITDA(1) outpaced operational CAPEX by 37 million in first half of 2015 Adjusted EBITDA(1) outpaced operational CAPEX by 29 million in Q2 2015 Reached yearend Miss Lime well cost goal of 3.3mm(2)…
Midstates Petroleum Overview Completed transition to a MidContinent focused Mississippian Lime(1) Premier position in highreturn core organization from an onshore Louisiana 27,029 Boed net production(2) concentrated startup 139…
Demonstrating Capital Discipline Realized Operational Efficiencies Realized Service Cost Reductions Approximately 60% of savings yeartodate Approximately 40% of savings yeartodate Reduced average drilling cycle time from 22 to…
Mississippian Lime Premier Position Net Production (Boe/d)(1) Mississippian IRRs at Various Well Costs(2) and Prices(3) 30,000 26,531 27,029 25,039 25,000 23,834 20,698 20,000 17,579 16,381 Gas 14,364 15,000 NGL Oil…
Mississippian Lime Differentiated Performance Continuing Top Tier overall well performance in the Mississippian Lime 258 wells on production 30 days: Average peak 30day rate of 559 Boe/d(1) More consistent results being driven by…
Mississippian Lime 2015 Well Performance Well Production vs. YE PUD Type Curve 2015 Wells Boed Normalized Flowing Time (days) 2015 Wells Actual Production 2014 YE PUD Type Curve 2015 Wells Actual Production Average 2015 well…
Mississippian Lime Downspacing Upside Downspacing Well Performance Downspacing Opportunities 2014 YE PUD Type Curve Downspacing Wells Actual Production Average Two downspacing wells with over 200 days of production Production…
Anadarko Basin Vast Acreage Position in a Proven Basin Cleveland IRRs at Various Well Costs(1) and Prices(2) Strong acreage position of 111,000 net acres Expansion of geological understanding and (82,000 in Texas and 29,000 in…
Liquidity Liquidity June 30, 2015 : 402 mm millions Revolver Cash Balance Letters of Credit Borrowing base Net Liquidity June 30, 2015 Liquidity 151,000 0 (2,000) 253,000 402,000 Liquidity outlook substantially increased with…
Looking to the Future Focus on protecting our liquidity through rigorous capital discipline and continued exceptional operational performance Contractual flexibility to manage capital program in volatile price environment Continue…
Appendix
Guidance (as of August 4, 2015) Q3 2015 FULL YEAR 2015 Daily Production (Boe/day) 33,000 34,000(1) 31,500 33,500(1) Miss+ Anadarko Miss+ Anadarko LA By Area 82% 18% By Area 81% 18% 1% Oil 4045% 4550% Oil 4045% 4550% 70% NGL…
Hedging Summary (as of August 4, 2015) 2015 Oil Q3 Q4 Total WTI Swaps Volume (Bbls) 1,104,000 1,104,000 2,208,000 Volume (Bbl/d) 12,000 12,000 12,000 Price (/Bbl) 71.56 71.56 71.56 Natural Gas Swaps Volume (Mmbtu) 4,600,000…
LongTerm Debt Schedule December 31, Deferred Gain Amortization June 30, 2015 2014 Carrying Borrowings Repayments Exchanges on of PIK Interest Carrying Value Value Forgiven Debt Forgiven Debt Revolving Credit Facility 435,150…
Adjusted EBITDA Reconciliation For the Three Months For the Three Months Ended June 30, Ended March 31, For the Year Ended December 31, 2015 2015 2014 2013 2012 2011 Adjusted EBITDA reconciliation to net income (loss): Net income…
Cash Operating Expenses Reconciliation 2015 2015 2014 2013 Q2 Q1 Full Year Full Year Operating Expenses GAAP 628,338 277,299 533,350 876,915 Adjustments for certain noncash items: Asset retirement accretion (390) (445) (1,706)…
Preferred Share Dividend Calculation(1) Calculation Conversion into Conversion into Common Shares Common Shares Per share Total 135.00 110.00 Liquidation preference at October 1, 2012: 10,000.00 325,000,000 2,407,407 2,954,545…
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…
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