MIDSTATES PETROLEUM COMPANY, INC. Management Presentation October 2016
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Executive Summary Corporate Overview / Operations Update Asset Overview Business Plan Overview…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Management Team Background Information Mr. Brace has been President, Chief Executive Officer and a Director…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Investment Highlights Well Positioned to Strong, experienced team in place with a proven track record of…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Executive Summary Corporate Overview / Operations Update Asset Overview Business Plan Overview…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Midstates Petroleum Overview Mid-Continent focused organization with Mississippian Lime(1) extensive experience…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Demonstrated Performance Net Production (Boe/d) Adjusted EBITDA(1) (mm) 32,880 35,000 32,137 Gulf Coast 32,018…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Cash Operating Expenses(1) Cash Operating Expenses Improving Over Time (/Boe) (2) Production Taxes Cash G&A…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Executive Summary Corporate Overview / Operations Update Asset Overview Business Plan Overview…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime - Premier Position Net Production (Boe/d)(1) 30,000 8 26,531 27,029 26,358 26,531 26,683…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime Type Curve Cawley, Gillespie and Associates Mississippian Type Curve Mississippian Lime PUD…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Illustrative Miss Lime Type Curve Sensitivities ( in thousands, except per unit amounts) Illustrative type…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime 2014-2016 Well Performance Well Production vs. YE 2015 PUD Type Curve 2014 2016 Wells 2014…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime Operating Expense Trend 2016 YTD Average LOE by Category(2) Early SWD and electrical…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime Asset Development www.MidstatesPetroleum.com 17
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime Acreage Overview(1)(2) 2016 Focus Area 2015 Focus Area Premier position of…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Mississippian Lime Downspacing Downspacing Well Performance Downspacing Strategy Leverage infrastructure and…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL 80 Acre Development Update 3 Well 80 Acre Spacing Average 160 Acre Spacing Analog The 80 acre average…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Private and Confidential Subject to FRE 408 Mississippian Lime SWD Update www.MidstatesPetroleum.com 21
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Non-Arbuckle SWD Injection Update Requested OCC Arbuckle Injection Cap Injecting 35% of SWD volumes into…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Water Disposal Plans Vintage Arbuckle Disposal Wells Cost between 3mm-4mm to drill Average operating capacity…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Anadarko Basin No current plans to resume active Currently evaluating attractive farm- drilling in the basin…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Anadarko Operating Expense Trend (1) 2016 YTD Average LOE by Category(2) Yielding benefits from 2015 &…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Executive Summary Corporate Overview / Operations Update Asset Overview Business Plan Overview…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Business Plan Assumptions The following sets forth certain assumptions utilized by Midstates management…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL YTD Company Performance Actual Net Production vs Budget (Boe/d) 35,000 33,267 31,524 31,232 30,713 30,789…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL YTD Company Performance Contd Actual Cash Operating Expense(1) vs Budget (MM) YTD EBITDAX(1)(2) Variance…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Business Plan(1)(2) Financial Summary 2016E 2017E Fiscal Years Ending 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2016E 2017E 2018E…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL YE 2015 Reserves Reconciliation YE 2015 Technical Reserves(1)(2) PV-10 Oil Gas NGL Total Strip Pricing (2) (3)…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Business Plan(1)(2) Financial Summary ( in millions, except per unit amounts) 2016E 2017E Fiscal Years Ending…
DASHED2014A&DManagement PresentationGS DraftsManagement PresentationBravo Data Room Presentation_vVDRf.pptx CONFIDENTIAL Adjusted EBITDA Reconciliation For the Three Months For the Three Months For the Three Months For the Three…