Q1 2017 & Recent Highlights Reported net income of approximately 18 million Generated adjusted EBITDA of 35 million, outpacing operational CAPEX by 3 million Reinstated hedging program, with 55% and 60% forecast oil and natural gas…
Midstates Petroleum Overview Mississippian Lime(1) Premier position in high-return core 19,539 Boed net production(2)(3) 98,000 net acres(4) 1,500 Potential Locations(5) Anadarko Basin Multi-zone horizontal inventory 4,023 Boed…
Mississippian Lime Miss-Perceptions These challenges present opportunities Uncertain SWD Capacity Added nine non-Arbuckle wells to our dynamic water handling system Limited Acreage and Locations Opportunistically acquired…
Highly Efficient and Cost Effective SWD System Dynamic Water Handling System Provides Operating Advantage And Disposal Optionality Midstates Petroleum Company, Inc. l NYSE: MPO 7
SWD System Current looped system utilizes 19 injection wells: 10 Arbuckle, 9 non-Arbuckle Looped nature allows for optimization of injection rates across the system/wells Total permitted injection capacity of 312,000(1) barrels of…
Mississippian Lime Acreage Overview 2017 Focus Areas Premier Position Of 98,000(1) Net Acres In The High-Return Core Of The Miss Lime (1) Excludes Hunton play in Lincoln County and includes acreage capable of being Midstates…
Acreage Update Core Miss Lime Acreage Position Woods and Alfalfa Counties, Oklahoma 2017 acreage decline primarily due to high grading of farm-in opportunities Potential to re-acquire lost acreage going forward Midstates…
Optimized Well Costs Anticipate well cost reductions achieved over the last two years to largely stay in place Savings from 2014 to 2016 were 65% efficiency gains and 35% service cost reductions Locked in stimulation services and…
2014 2017 Well Performance Well Production vs. YE 2016 PUD Type Curve 2014 - 2017 Wells 2014 - 2017 Wells Actual Production 2016 YE PUD Type Curve 2014 2017 Wells Average Production Normalized Flowing Time (days) Multi-Year…
Generating Highly Attractive Returns In An Overlooked Basin Source: Simmons & Company E&P Perspectives: Well Economics For L48 Oil & Liquid Levered Regions 01.04.2017; Midstates calculated based on CGAPUD type curve at 2.8mm DC&F…
Anadarko Basin Farm-out agreement signed in late 2016 to explore NW Stack Strong Acreage Position In A Proven Basin Provides Future Value Optionality Midstates Petroleum Company, Inc. l NYSE: MPO 14
Key Takeaways Restructured balance sheet provides a strong platform for future growth Pristine Balance Sheet Strong current liquidity position of 85mm; 43mm of net debt (RBL) Capability to substantially grow production within…
Appendix Midstates Petroleum Company, Inc. l NYSE: MPO 16
2017 Operating Scenarios Build cash position 1-Rig 20,000 23,000 Boe/d HBP additional core 90-100mm of CAPEX(1) Miss Lime acreage Option 125-145mm of EBITDAX Stabilize production base in 2018 Meaningful production growth…
2017 Guidance 1 Rig Program Operational CAPEX Guidance(1) MM Production Guidance Production (Boe/d) 20,000 23,000 D,C&F 62 - 66 Infrastructure (Incl. SWD Wells) 14 - 18 Land & G&G 5 - 6 Cost Guidance per BOE Workover 9 - 10 Lease…
Hedging Update Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended June 30, March 31, June 30, 2017 September 30, 2017 December 31, 2017 2018 2018 September 30, 2018 NYMEX WTI Fixed swaps Hedge…
Miss Lime PUD Type Curve PUD Type Curve: Mississippian Lime Miss Lime IRRs at Various Well Costs(2) and Prices(3) Gross EUR Summary (Mboe): 501 % Oil 41% Gross 30-Day IP Rate (Boe/d): 517 Initial 24-hr IP - Gas (Bbl/d) 1700…
2016 and Q1 2017 Performance Actual Net Production (Boe/d) 35,000 32,018 30,164 30,000 28,059 25,259 23,562 25,000 20,000 15,000 10,000 5,000 - Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Oil NGL Gas Actual Adjusted…
Adjusted EBITDA Reconciliation Quarter Ended Quarter Ended Quarter Ended Quarter Ended Quarter Ended March 31, December 31, September 30, June 30, March 31, 2017 2016 2016 2016 2016 Adjusted EBITDA reconciliation to net income…
Reconciliation of PV-10 to the Standardized Measure Midstates refers to PV-10 as the present value of estimated future net cash flows of estimated proved reserves as calculated in the respective reserve report using a discount rate of…
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