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Q3 2016 Earnings Presentation – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Nov 9, 2016 · 14 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. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 1
    NOVEMBER 9, 2016 Q316 EARNINGS www.sandridgeenergy.com
  2. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 2
    SANDRIDGE ENERGY With a strong balance sheet, we have competitive project IRRs from the high-graded harvest of our Mid-Continent position, plus were adding portfolio diversification and long term growth from our North Park Niobrara…
  3. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 3
    DURABLE IMPROVEMENT IN ECONOMICS MULTI AND EXTENDED LATERALS ARE A BREAKTHROUGH IN MISSISSIPPIAN D&C CAPEX, MM PER LATERAL 90-DAY CUMULATIVE MBOE PER LATERAL Lower costs per lateral Results shown by groups of 50 wells -37% vs…
  4. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 4
    MISSISSIPPIAN VALUE CREATION MULTI AND EXTENDED LATERALS PRESERVE COMPETITIVE RETURNS AT LOWER COMMODITY PRICES Nine Mississippian laterals drilled in 2016 with 36% IRR1, all multi or extended laterals Projected average 2016 D&C…
  5. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 5
    NORTH PARK NIOBRARA ASSET OVERVIEW DOMINANT ACREAGE POSITION WITH HIGH OIL CUT Single lateral 4.0MM D&C Capex for 315 MBoe EUR Extended lateral projected 7.0MM D&C Capex (3.5MM per lateral) for 600 MBoe EUR Eleven laterals drilled…
  6. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 6
    2016 SANDRIDGE NIOBRARA RESULTS 478 BOEPD (90% OIL) AVERAGE 30-DAY IP ON FIRST FIVE SANDRIDGE LATERALS FIRST FIVE SANDRIDGE LATERALS SIX LATERALS ONLINE IN LATE 2016 DESIGNED TO TEST Cycle time reduction Extended lateral…
  7. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 7
    FIRST SANDRIDGE NIOBRARA LATERAL THE GREGORY 1-9H CONTINUES TO OUTPERFORM TYPE CURVE GREGORY 1-9H, 550 BOEPD (89% OIL) 30-DAY IP CUMULATIVE PRODUCTION OF 75 MBO AT 217 DAYS 8
  8. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 8
    NIOBRARA TYPE CURVE SUPPORT AVERAGE OIL RATE OF FIRST FIVE SANDRIDGE LATERALS DRILLED FIRST 5 SANDRIDGE LATERALS Outperforming type curve Free flowed for over 3 months Two of first five laterals placed on artificial lift Will…
  9. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 9
    14 LATERALS SUPPORTING TYPE CURVE CUMULATIVE OIL LAST 14 LATERALS USING MODERN COMPLETION DESIGNS 10
  10. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 10
    NIOBRARA DRILLING ECONOMICS REDUCING COSTS 1MM PER LATERAL SUPPORTS LARGE IRR UPSIDE CURRENT COSTS ACHIEVED AFTER JUST 10 WELLS, WITH ONLY 1 EXTENDED LATERAL SINGLE LATERAL EXTENDED LATERAL NOW 4MM PER LATERAL NOW 3.5MM PER…
  11. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 11
    THE REORGANIZED SANDRIDGE ENERGY AS OF OCT. 31ST COMMON 20.6 MM common shares outstanding EQUITY 14.8 MM issuable upon conversion of mandatorily convertible debt 4.9 MM warrants at 41.34 strike price net share settled 2.1 MM…
  12. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 12
    NEW SANDRIDGE CAPITAL STRUCTURE PRO FORMA CAPITAL STRUCTURE MM AS OF PRO FORMA DEBT AT PRINCIPAL VALUE RESTRUCTURING JUN 30, 2016 OCT. 31, 2016 AS OF Secured Note1 - 35 35 8.75% Second Lien Secured Notes due 2020 1,328 (1,328)…
  13. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 13
    2016 OPERATIONAL GUIDANCE TOTAL COMPANY PRODUCTION PRICING REALIZATIONS Oil (MMBbls) 5.4 - 5.5 Oil (differential below WTI) 3.75 NGLs (realized % of WTI) 30% Natural Gas Liquids (MMBbls) 4.1 - 4.3 Gas (differential below Henry Hub)…
  14. Q3 2016 Earnings Presentation – Sandridge Energy, Inc. – slide 14
    2016 CAPITAL EXPENDITURES GUIDANCE CAPEX GUIDANCE MM CAPEX GUIDANCE DETAIL MM D&C 122.5 - 132.5 Mid-Continent D&C 42.5 - 47.5 Other E&P 92.5 - 102.5 North Park D&C 55 60 Total Exploration and Production 215 - 235 Other - D&C1 25…

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