Recent Highlights Announced a proposed combination with SandRidge Energy in an at-market, all-stock transaction with potential annual cost-saving synergies in excess of 70 million from highly complementary assets Implemented…
Premier Mississippian Lime Player Core Miss Lime with Competitive Returns and a Track Record of Success Midstates is the premier operator in the Mississippian Lime, well positioned in Woods and Alfalfa Counties, OK Large acreage…
Focus Capital in Miss Lime Core 2016-2017 drilling program focused on Western Expansion opportunistically expanding Miss Lime acreage Area Historical MPO Core footprint and future inventory through bolt-on farm- in opportunities…
Year-End 2017 Reserves Updated YE 2017 reserves for market-focused strategy and one rig capital plan Reduced PUD reserve locations to 139 locations at YE 2017 from 274 locations at YE 2016 (1) YE 2017 SEC Pricing (2) PV-10 is…
Miss Lime Type Curve 350 Crude Oil Type Curve Comparison 300 250 Miss Lime PUD Type Curve Comparison Bbls/d 200 YE 2017 PUD YE 2016 PUD 150 Type Curve Type Curve 100 Gross 2-Stream EUR Summary (Mboe): 450 512 50 % Oil 34%…
2018 Guidance (Excludes Anadarko Basin assets) Operational CAPEX Guidance MM Cost Guidance per BOE Operational Capital Expenditures 100 - 120 Lease Operating Expense(1) 6.50 - 7.50 Severance & Other Taxes 1.50 - 2.00 Production…
Proposal to Merge with SandRidge Energy Midstates Petroleum Company, Inc. l NYSE: MPO 11
MPO & SD Combination Highlights Aligned Stock for Stock Pro Forma Governance Shareholder Merger Ownership Base SD holders to Combined MPO CEO to receive 1.068 SD holders to ownership lead combined MPO shares per own 60% between…
Combined Operating Footprint Creates Leader in Mid-Con Fo rd Pro Forma Mid-Con Asset Map S e d g wick Asset Base Highlights P ratt K iowa K in gman Pro forma asset base to include 459,000 net Miss Lime acres 77,000 net NW STACK…
Optimizing Production and Delivering Free Cash Flow Illustrative Pro Forma Production Profile (Boe/d) 54,000 - 59,000 54,000 - 59,000 54,000 - 59,000 55,000 - 60,000 50,000 - 55,000 2018E 2019E 2020E 2021E 2022E Illustrative…
Over 70 Million of Annual Cash Savings Headquarters Consolidation Integrate corporate headquarters General & Administrative Headcount Reduction Implement merit-based approach to filling key positions (40mm/year) Integration of…
Pro Forma Capitalization Capitalization Midstates SandRidge Anadarko Merger Pro Forma ( in millions) as of Dec 31st as of Dec 31st Sale(1) Adj. Adj. Combined Cash 68 99 -- (78) 89 Revolver (128) -- 50 78 -- Building Note -- (38) --…
Improved Scale Drives Potential Multiple Expansion Pro Forma Market Capitalization and TEV / 2018E EBITDA Multiples vs. Peers(1)(2) in millions 1,972 1,717 1,600(3) 1,219 992 920 899 871 844 829 355 578 566 544…
Appendix Midstates Petroleum Company, Inc. l NYSE: MPO 18
Hedged Production 50% of 2018E oil production and 40% of 2018E natural gas production hedged NYMEX WTI Fixed Swaps Three Way Collars Weighted Weighted Weighted Hedge Avg Hedge Avg Weighted Avg Position Strike Position Ceiling Avg…
Adjusted EBITDA Reconciliation 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2017 Calculation of EBITDA: Adjusted EBITDA reconciliation to net income (loss): Net income (loss): (85,077) 3,663 3,663 13,742 18,485 Depreciation, depletion and…
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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