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September 2015 Investor Presentation – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Sep 29, 2015 · 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. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 1
    INVESTOR PRESENTATION SEPTEMBER 2015 0
  2. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 2
    2
  3. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 3
    SANDRIDGE HAS A LEADING U.S. MIDCONTINENT OIL & GAS POSITION WE ARE SKILLED, LARGE SCALE DEVELOPERS OF OIL AND GAS RESOURCES Over 1,600 wells drilled, over 5B invested since 2010 (1.6B in 2014) Producing 89 MBoepd in Q215, largest water…
  4. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 4
    2H15 OUTLOOK, GUIDANCE AND LIQUIDITY UPDATE RECENT PRODUCTION RESULTS AND GUIDANCE RANGES FOR 2015 2015 PRODUCTION GUIDANCE Q215 PRODUCTION RESULTS Total Company production of 89.0 MBoepd, up 27% vs Q214 Mid-Continent production of…
  5. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 5
    NOW TARGETING 2.3MM PER MISSISSIPPIAN LATERAL returns are preserved drilling location count grows. At lower well costs Development inventory is preserved with lower costs and expanded with oil price recovery Type curve returns…
  6. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 6
    LIQUIDITY AND BALANCE SHEET FLEXIBILITY INTACT Expanded Liquidity, No Near Term Maturities 1.4B of liquidity, pro forma debt repurchase 889MM of cash, pro forma debt repurchase MARKET VALUE ( in millions) 500MM borrowing base Market…
  7. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 7
    DELEVERAGING TRANSACTION COMPLETED IN AUGUST 525MM of Debt Addressed Using Minimal Liquidity (after interest savings) CASH REPURCHASE CONVERSION DETAIL Immediately reduced debt by repurchasing 250MM of unsecured Bondholders can convert…
  8. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 8
    YE14 PROVED RESERVES +37% TO 516 MMBOE Consistent Growth of a Strong Reserves Base RESERVES MIX 5.5B SEC PV-10(a) (+34% YOY) 42% Liquids Mix 10.69 Proven Value/Boe(a) 18.7 Years Reserve Life 604% All-in Reserve Replacement 12.2 Years…
  9. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 9
    WELL PERFORMANCE CONSISTENTLY ABOVE TYPE CURVE Continued Strong IP Results SandRidgeEnergy.com 9 9
  10. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 10
    2015 MISSISSIPPIAN PUD TYPE CURVE 484 MBoe, 44% Liquids 2015 OIL: 118 MBo 30-Day IP (Bopd) 190 1st Year Decline(a) 80% B Factor 1.26 2015 NGL: 97 MBbls Yield (Bbls/MMcf) 51.6 Shrink 86.1% 2015 GAS: 1.6 Bcf (b) 30-Day IP…
  11. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 11
    NOW TARGETING 2.3MM PER MISSISSIPPIAN LATERAL Achieved 600K Savings Goal; New Target Saves 700K per Lateral REALIZED SAVINGS: 290K - EFFICIENCY GAINS Rig efficiency & cycle time improvement Location highgrading Logistics Commingled…
  12. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 12
    COST SAVINGS EVIDENT IN CYCLE TIME Drilling Efficiencies Driving 18% Spud to Rig Release Cycle Time Reduction Quarter-Over-Quarter SandRidgeEnergy.com 12 12
  13. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 13
    40% MULTILATERALS IN 2015 DRILLING PLAN 99% of 90-Day Type Curve Production for 79% of the Current Total Program Cost FULL SECTION DEVELOPMENT (FSD) ACTIVITY AND SUCCESS THROUGH Q215 Only multilateral operator in the Mid-Continent…
  14. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 14
    NEW VENTURES SUCCESS CASE Pioneering Chester Oil Development First industry horizontal re-development of legacy Chester vertical field KIOWA KINGMAN Fine grained silty sandstone, multiple shale laminated pay intervals Existing…
  15. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 15
    GEOLOGICAL EXPERTISE UNLOCKS WOODFORD Refined Geological Model Yielding Strong Results Woodford targets now identified based on four desirable characteristics: Production interval above Woodford (example: Mississippian) Siliceous…
  16. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 16
    SALTWATER GATHERING & DISPOSAL (SWG) Most Efficient SWG Operator in the Mid-Continent 600MM INVESTED THROUGH Q215 PRODUCE Average capacity of 15,000 Bwpd per well Over 1.1 million barrels of water gathered and disposed per day during…
  17. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 17
    LARGEST SALTWATER GATHERING SYSTEM IN THE NATION Pipeline Footprint Resembles Typical Gathering System 200 SWG wells Over 1.0 MMBwpd current volumes 99% of water is piped vs. trucked 1,100 miles of installed pipelines Advanced…
  18. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 18
    Change look 18
  19. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 19
    2015 TOTAL COMPANY PRODUCTION GUIDANCE Raising 2015 Production Guidance by 500 MBoe at the Midpoint (a) (a) Note: Totals may not foot due to rounding (a) Pro forma for GOM divestiture SandRidgeEnergy.com 19 19
  20. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 20
    2015 MID-CONTINENT PRODUCTION GUIDANCE Introducing Standalone Guidance for Mid-Continent Operations SandRidgeEnergy.com 20 20
  21. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 21
    CAPITAL STRUCTURE OVERVIEW SENIOR NOTES ( in millions) PREFERRED STOCK ( in millions) 8.75% Sr. Notes due 2020 405 8.5% Convertible Perpetual Preferred(a) 265 8.75% 2ND Lien Notes due 2020 1,250 7.0% Convertible Perpetual Preferred (b)…
  22. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 22
    HEDGING OVERVIEW LIQUIDS Q1 2015 Q2 2015 Q3 2015 Q4 2015 2015 2016 Swaps Volumes (MMBbls) 2.29 1.73 1.01 0.55 5.59 1.46 Price (/Bbl) 92.71 91.55 92.43 94.11 92.44 88.36 Three-way Collars Volumes (MMBbls) 0.72 0.73 1.56 1.56 4.58 2.56…
  23. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 23
    2014 YEAR END RESERVES Creating Value from a Strong Reserve Base SEC Pricing 91.48 / 4.35 RESERVES RESERVES PV10 PV-10 LIQUIDS GAS EQUIVALENT % MM % MMBbls Bcf MMBoe Reserves by Reservoir Status PDP Producing 119 1,011 287 56%…
  24. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 24
    UPDATED 2015 OPERATIONAL GUIDANCE TOTAL COMPANY MID-CONTINENT 1 PRODUCTION OTHER Oil (MMBbls) 9.3 10.0 7.9 8.6 Natural Gas Liquids (MMBbls) 4.6 5.0 4.5 4.9 EBITDA from Oilfield Services and Other (MM) 10 Total Liquids (MMBbls) 13.9…
  25. September 2015 Investor Presentation – Sandridge Energy, Inc. – slide 25
    2015 CAPITAL EXPENDITURES GUIDANCE CAPEX GUIDANCE MILLIONS CAPEX GUIDANCE DETAIL MILLIONS Exploration and Production 612 Development D&C 306 Land and Geophysical 38 Appraisal & New Ventures D&C 29 Carryover 102 Total Exploration and…

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