Cowen and Company Energy & Natural Resources Conference December 4, 2017 David J. Sambrooks President & Chief Executive Officer
Recent Highlights Named David J. Sambrooks as President & Chief Executive Officer Set near-term strategy: focusing activity, reducing costs, generating substantial free cash flow, improving liquidity - for maximum optionality…
Exploring Strategic Alternatives for Anadarko Basin & NW STACK Assets Midstates Petroleum Company, Inc. l NYSE: MPO 5
Anadarko Basin & NW STACK Assets Midstates retained SunTrust Robinson Humphrey as financial advisor to explore strategic alternatives for the Anadarko Basin and NW STACK assets Currently evaluating results and anticipate concluding…
NW STACK Assets Midstates to retain position in emerging NW STACK 5,000(1) net acres in over 50 sections being evaluated to be exploited in the future Currently prospective for Meramec and Osage development (1) As of…
Focus Activity in Mississippian Lime Midstates Petroleum Company, Inc. l NYSE: MPO 8
Premier Mississippian Lime Player Midstates is the premier operator in the Mississippian Lime, well positioned in Woods and Alfalfa Counties, OK Large acreage position in the core of the play Demonstrated track record of success…
Premier Mississippian Lime Player 96,000 Net Acres(1) of Core Miss Lime Acreage in Woods and Alfalfa Counties (1) As of 09.30.2017 Midstates Petroleum Company, Inc. l NYSE: MPO 10
Focus Capital in Top Tier Core of Mississippian Lime 2016-2017 drilling program focused on opportunistically Western Expansion expanding Miss Lime acreage footprint and future Area Historical MPO Core inventory through bolt-on…
Opportunities to Improve Performance and Increase Margins Midstates Petroleum Company, Inc. l NYSE: MPO 12
Optimizing Asset Performance High-Grading Drilling Program Focusing D&C program on optimizing well returns Concentrating on delineated areas to reduce risk and improve certainty Reviewing Completion Design New eyes and expertise…
Enhance Financial Performance Considering full or partial pay down of RBL balance to reduce interest expense Current RBL balance of 128 million and hold 77 million(1) of cash on the balance sheet Potential annualized interest expense…
Focused on Maximizing Shareholder Returns Midstates Petroleum Company, Inc. l NYSE: MPO 15
Key Takeaways Near-term strategy: focusing activity, reducing costs, generating substantial free cash flow, improving liquidity - for maximum optionality Exploring Anadarko Currently evaluating results and anticipate concluding…
Appendix Midstates Petroleum Company, Inc. l NYSE: MPO 17
Updated 2017 Guidance Operational CAPEX Guidance MM Production Guidance Production (Boe/d) 22,000 23,000 D,C&F 100 - 104 Infrastructure (Incl. SWD Wells) 10 - 14 Land & G&G 10 - 11 Cost Guidance per BOE Workover 10 - 11 Lease…
Hedged Production NYMEX WTI Fixed Swaps Collars Three Way Collars Weighted Weighted Weighted Hedge Avg Hedge Weighted Weighted Hedge Avg Weighted Avg Position Strike Position Avg Ceiling Avg Floor Position Ceiling Avg Floor…
SWD System Midstates Petroleum Company, Inc. l NYSE: MPO 20
SWD System Current looped system utilizes 20 injection wells: 10 Arbuckle, 10 non-Arbuckle Looped nature allows for optimization of injection rates across the system/wells Total permitted injection capacity of 332,000(1) barrels of…
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