SandRidge Energy With a strong balance sheet, we have built a portfolio of three project areas with competitive project IRRs and significant location inventories. Investment will continue with the development of both our NW STACK and…
SandRidge Energy Overview Unlevered oil producer focused on resource value creation KEY INFORMATION Market Equity Value as of May 9, 2017 35.9 MM common shares 656 Million Primary Assets 2P Locations1 Net Acres Mississippian 300…
Q117 Operational and Financial Results Continued NW STACK drilling, Niobrara production outperformance and Miss Lime success STRONG 4.0 MMBoe (44.2 MBoepd) production (28% oil) PERFORMANCE 56 million of adjusted EBITDA with 41…
NW STACK Industry Activity SD currently running 2 rigs across 70k acres in NW STACK (Major, Woodward and Garfield Co.) INDUSTRY ACTIVITY ADJACENT TO SD ACREAGE Industry activity has been converging on existing SD acreage with…
NW STACK Primary Targets NW STACK Meramec and Osage same productive formation as in STACK Structurally deepens from northeast to southwest Meramec 5,800-12,400 TVD Below the Chester (where present) Interbedded shales, sands, and…
SandRidge NW STACK Delineation 2 Rigs currently running across three counties 2017 D&C capex of 65-70MM 70K NET ACRES IN NW STACK 22 gross laterals (17 net laterals) Major, Woodward, and Garfield Co. Targeting the Meramec Drilling…
Industry Meramec Results Meramec initial production has averaged 700-800 Boepd and 60% oil on wells surrounding SDs NW STACK acreage position 8
Industry Osage Results Osage initial production has averaged 700-800 Boepd and 40% oil on wells surrounding SDs NW STACK acreage position 9
North Park Niobrara Asset Overview Drilling in 2017 focuses on XRLs, multiple benches and establishes new federal unit 2017 activity will help optimize full development planning Ten wells drilled in 2016 including one XRL and one C…
Targeting Multiple Niobrara Benches Similar geologic characteristics to the DJ Basin Niobrara but higher oil cut NORTH PARK DJ BASIN BASIN Oil EUR % 80% 35% Depth 5,500 9,000 ft. 6,000 8,000 ft. Reservoir Storage Capacity…
2016 Niobrara Program Success 11 laterals drilled in 2016, outperforming type curve Lowered costs, optimized completions, drilled first XRL and C bench wells 2016 DRILLING RESULTS First XRL in the basin 2-mile lateral (Castle 1-17H…
First SandRidge Niobrara C Bench Lateral Hebron 4-18H cumulative oil production exceeds type curve by 32% 539 Boepd (92% oil) 30-Day IP DAILY OIL RATE CUMULATIVE OIL Jet Pump Installed 13
First SandRidge Niobrara XRL Castle 1-17H exceeding type curve, drilled and completed for 3.4MM per lateral 901 Boepd (91% oil) 30-Day IP DAILY OIL RATE CUMULATIVE OIL Jet Pump Installed Jet Pump Installed 14
2016 Niobrara Oil Production Above Type Curve Current year program to feature XRLs with crosslinked completions 2016 DRILLING PROGRAM 2016 CROSSLINKED COMPLETIONS ONLY 15
Large Contiguous North Park Acreage Position 2017 drilling increases acreage held by production or by unit to 75% of existing 127k net acre position BEAVER CREEK UNIT 11k Net Acres (Proposed) 71k net acres currently held by…
North Park Basin Oil and Gas Takeaway Favorable oil marketing and gas processing will create additional revenue Current Marketing and Takeaway Short term in-field gas processing may include: Oil trucked to market (up to 40 MBopd)…
APPENDIX 18
2017 Project EURs, Economics, & Inventory Diverse and material location inventory in three areas EURs & MERAMEC NIOBRARA MISSISSIPPIAN ECONOMICS XRL* SINGLE XRL FSD* SINGLE EUR, MBoe 800 1,000 500 600 600 1,350 550 % Oil 40%+ 40%+…
2016 Mississippian program: 13 laterals 1.7MM Avg D&C per Lateral, 100% Multi and XRL 1 dual XRL: (equivalent to 4 single laterals) 1 full section development: (equivalent to 3 single laterals) 1 coplanar: (equivalent to 2…
Durable Mississippian Economics Multis and XRLs drive lower costs with consistent results D&C CAPEX, MM PER LATERAL 90-DAY CUMULATIVE MBOE PER LATERAL 43% Lower costs per lateral vs. 2014 Results shown by groups of 25 wells 21
Year End 2016 Reserves and PV-10 OIL NGLS GAS EQUIVALENT PV-102 PROVED RESERVES MBBLS MBBLS MMCF MBOE1 MM Proved Reserves as of Dec 31, 2015 77,911 61,075 1,113,840 324,626 1,315_ SEC Pricing (50.28 / 2.59) Production (5,529)…
Four Quarters of Trailing Actuals ACTUALS PRODUCTION Q216 Q316 Q416 Q117 Oil (MMBbls) 1.4 1.3 1.2 1.1 Natural Gas Liquids (MMBbls) 1.1 1.1 1.0 0.9 Total Liquids (MMBbls) 2.5 2.4 2.2 2.0 Natural Gas (Bcf) 14.5 13.1 12.8 11.8 Total…
2017 Capital Expenditures Guidance CAPEX GUIDANCE MM CAPEX GUIDANCE DETAIL MM D&C 109 - 119 Mid-Continent D&C 65 - 70 Other E&P 99 North Park D&C 20 - 25 Other - D&C1 24 Total Exploration and Production 208 - 218 Total Drilling &…
2017 Operational Guidance TOTAL COMPANY PRODUCTION PRICING REALIZATIONS Oil (MMBbls) 4.0 4.2 Oil (differential below WTI) 2.75 NGLs (realized % of WTI) 26% Natural Gas Liquids (MMBbls) 3.0 3.2 Gas (differential below Henry Hub)…
Hedging Overview 80% of oil and 77% of gas volumes hedged at the midpoint of guidance in 2017 OIL Q117 Q217 Q317 Q417 FY 2017 Q118 Q218 Q318 Q418 FY 2018 SWAPS Volumes (MMBbls) 0.81 0.82 0.83 0.83 3.29 0.45 0.46 0.46 0.46 1.83…
Reconciliation of Standardized Measure of Discounted Net Cash Flows to PV-10 SUCCESSOR PREDECESSOR PROVED RESERVES DEC 31, 2016 DEC 31, 2015 ((in millions) Standardized measure of discounted 438 1,314 net cash flows1 Present…
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