DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Refocused Energy Deliver Financial Exercise Capital Stability Discipline Balance 2014 Operating Capex Focus…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Overview Outstanding value-growth opportunity focused in the Mid Con Region a top tier US Lower 48 Resource…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL 2015 Strategic Direction and Intent I. Release the Value in the Asset Base Continue and enhance the value…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Midstates Petroleum Overview Midstates has a robust, strategically-located portfolio offering significant…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime Stacked Horizontal Inventory Acreage position overlays stacked pay zones which provide…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Anadarko Basin Stacked Horizontal Inventory Acreage position overlays stacked pay zones which provide additional…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL High-Growth Resource and Well Inventory Company anticipates significant reserves growth through additional…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Focus on High Rates of Return Robust economics even in challenged commodity price environments Upper Miss…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Prolific Position in Recognized Core of Miss Lime Net Production (Boe/d) (1) 30,000 24,000 25,000 23,834…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime Regional Geology Miss Lime Geologic Overview Mississippian reservoirs have diagenetic…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime Type Log BASAL Porosity development at several intervals within the Upper Miss,…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Unlocking Mississippian Lime Upside 3D seismic and application of new technologies are considerably expanding…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime 3D Seismic Coverage 360 Sq. Miles Dawson Geophysical Acquisition and First Pass ION…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Grainstone Wells Drilled (Pre Seismic) Total of 23 wells D&C & online pre-seismic (2011- 6/2013) NYSE: MPO…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Grainstone Wells Drilled (Pre & Post Seismic) Total of 23 wells D&C & online pre-seismic (2011- 6/2013)…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Oil in Place per Section in MMBO Midstates Proprietary Information NYSE: MPO www.MidstatesPetroleum.com 28
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Grainstone Pre & Post Seismic Grainstone Pre-Seismic Grainstone Post Seismic New Way of Drilling &…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Comparison Plot (Oil) Grainstone Area Major differences: Utilization of seismic Post Seismic wells Longer…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Miss Lime Grainstone Area Summary Grainstone Area was deemed poor by previous operator MPO took the time to…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime Future Development Since Acquisition Initially developed with four laterals per section…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Example of Grainstone Production 3rd well has highest IP Free flowing No interference seen initially when…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Example of Grainstone Pressure Measurements 2H-28 had initial BHP (2335 psi static measured) free flowed…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Example of Grainstone Downspacing Opportunities Well Oil EUR Gas EUR BHPi 5280 (MBO) (MMCF) (measured) 1320…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Example of Grainstone Production Highest Rates No influence on & BHP seen in trend seen in 4th well 1H-7 while…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Example of Grainstone Pressure Measurements Last well in section Virgin Pressure Temp. rise in 2H-7 PIP…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Example of Grainstone Downspacing Opportunities Well Oil EUR Gas EUR BHPi (MBO) (MMCF) (measured) 5280 Glass…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL 3D Seismic Enhances Well Results Midstates Proprietary Information NYSE: MPO www.MidstatesPetroleum.com 39
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Simulation Studies and Modeling Animation NYSE: MPO www.MidstatesPetroleum.com 40
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Streamline Model 1st Phase Midstates Proprietary Information Streamline model illustrating…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL SE Alfalfa Area Minimal number of wells drilled in last 2 years Only 1 well drilled post seismic (landed too…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL SE Alfalfa Production Solid 13 stage IPs 100klbs sand/stage Low acid vol Higher vol (60kbbl load) NYSE:…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL SE Alfalfa Area Previous operator attempted, without seismic, to drill a direct offset to the best well in the…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL SE Alfalfa Area These wells were drilled without seismic, and did not Midstates find structure. As a…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Upper Miss Development Plan (With Downspacing) of Locations Upper Miss Altered 225 Upper Miss Enhanced 72…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Gena 2513 4H-12 Tri-Lateral Lateral 1 Lateral 2 and 3 Midstates initial tri-lateral in the Mississippian…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Upper Mississippian Completions Completion approach applied to unconventional (self-sourcing) reservoirs is not…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Advancements in Completion Technology Design completion to enhance existing reservoir delivery system…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Monitor Effectiveness of Completion Divert and Surge High Volume Max 3H-7D (Grainstone) 2.0 1.8 1.6 1.4 Oil…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Monitor Effectiveness of Completion Completion T.F vs 90 day Oil PI P&P Wells 1.000 0.100 90 day Oil PI…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime: Differentiated Performance Continuing Top Tier overall well performance in the Mississippian…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Recognized Performance in Woods and Alfalfa millions Q3 Results Midstates Sandridge Wells Online 20 122…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Illustrative Miss Lime Single Well Economics Solid repeatable results with compelling well economics; Midstates…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Middle and Lower Mississippian Potential Top St. Gene. Base St. Gene. Manning Updip Limit Updip Limit…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Middle Mississippian Test Henthorn 2H-14C Midstates Proprietary Information Initial Middle Miss test recently…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime Stacked Horizontal Inventory Acreage position overlays stacked pay zones which provide…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Miss Lime Key Messages Best Results in the Miss Lime Average 30 day peak rates 575 Boe/d Type curve 2 stream…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Anadarko Basin Multi-Stacked Horizons Cleveland and Marmaton Well established Good well control and…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Anadarko Basin Stacked Horizontal Inventory Acreage position overlays stacked pay zones which provide additional…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Cleveland: Cornerstone Horizon Large pervasively saturated stacked reservoir system Midstates acreage in a prime…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Cleveland Geology Midstates Proprietary Information NYSE: MPO www.MidstatesPetroleum.com 67
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Illustrative Cleveland Single Well Economics Low-risk portfolio ranging from mature to high-growth assets, with…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Marmaton: Significant Growth Potential Large pervasively saturated reservoir system with regional trap 3 growth…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Marmaton Geology Midstates Proprietary Information NYSE: MPO www.MidstatesPetroleum.com 70
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room CONFIDENTIAL Presentation_vVDRf.pptx Experimental Frac Design: Shooter Section Original vs New Wells Shooter Section 1st 90 Day Performance…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room CONFIDENTIAL Presentation_vVDRf.pptx Recent Frac Design: Reckless Section Original vs New Wells Original Wells Reckless Section 1st 90 Day…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Anadarko Completion Evolution Experimented with several completion types in 2014 Liner type Plug and perf,…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Illustrative Marmaton (Hepler) Single Well Economics Low-risk portfolio ranging from mature to high-growth…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Tonkawa Discussion Recently emerged as a horizontal liquids-rich play Active horizontal drilling target…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Emerging Tonkawa Large pervasively saturated sand system with regional trap Extending play to the north with…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Tonkawa Regional Geology Midstates Proprietary Information NYSE: MPO www.MidstatesPetroleum.com 77
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Illustrative Tonkawa Single Well Economics Low-risk portfolio ranging from mature to high-growth assets, with…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Cottage Grove Discussion Trend has produced 45 MMBO/550 BCF from vertical wells Average vertical well…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Developing Cottage Grove Midstates successfully completed horizontal wells on both NE and SW ends of shore face…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Peek Prospect Cottage Grove Potential Net Porosity Map 6% Cutoff Primary term acreage 8 Cottage Grove wells…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Illustrative Cottage Grove Single Well Economics Low-risk portfolio ranging from mature to high-growth assets,…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Anadarko Key Messages Consistent results in the Cleveland, with encouraging early results in the other horizons…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Fleetwood 3D Seismic Area: Organic Growth Potential Fleetwood Overview Fleetwood 3D Survey: 197 Sq. Miles…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Fleetwood JV Overview (PetroQuest View) (1) NYSE: MPO www.MidstatesPetroleum.com (1) Taken from PetroQuest…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Company Resource Production Potential (1) 120 100 4.6B unrisked value 80 Net MBOE/D 60 40…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Cash Operating Expense Improvements (1) Cash Operating Expense Improvements Over Time 18.00 16.98 15.62…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime Operating Expense Trend Q3 2013 LOE by Category (1) Q3 2014 LOE by Category (1) Best in…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Anadarko Basin Operating Expense Trend Q3 2014 LOE by Category (1) Efforts underway to reduce operating…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Anadarko Basin Opex Reduction Opportunity Avg Opex(1) by Well (/mo) 52% of Anadarko wells are on gas lift…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime D&C Performance Improvement 5.0 Focused on continuous improvements to maximize returns 4.5…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Anadarko Basin Well Cost Performance Focused on well cost improvements consistent with successful improvements in…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Anadarko Basin Type Curves Capital Sensitivity (1) BEST AVG BEST AVG BEST AVG BEST AVG Lowering D&C…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Strategic Goals Continue to unlock the intrinsic value of existing asset base: Cost effective development of…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Sustaining Positive Momentum Into 2015 & Beyond Midstates is positioned to tackle the uncertain macro environment…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Hedging Summary (as of Nov 4, 2014) (3) 2014 2015 Oil Q4 Total Q1 Q2 Q3 Q4 Total WTI Swaps Volume (Bbls)…