Key Accomplishments As part of the long term post-restructuring plan, the Company appointed David J. Sambrooks Experienced as President, Chief Executive Officer and Member of the Board Leadership Initiated search for a Chief Financial…
Premier Mississippian Lime Player High Margin 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…
Miss Lime Core Expansion Current Drilling Program Focused in Southern Core Expansion Area Prior drilling schedule concentrated on Western Expansion Historical MPO Core opportunistically expanding Miss Lime Area footprint and future…
Year-End 2017 Reserves (Excludes Anadarko) Rationalized 2017 YE reserves to be consistent with market-focused strategy and one rig capital plan for foreseeable future Reduced PUD reserve locations to 139 locations at YE 2017 from 274…
SWD Update SWD System Currently Utilizes 10 Arbuckle And 11 Non-Arbuckle Disposal Wells Arbuckle formation wells currently capped at 15,000 bbl/day per well Permitted injection capacity of 372k bbls/day(1) Currently injecting 40% of…
Sale of Anadarko Basin Assets Accretive Sale of Non-Core Assets for 58 million Anadarko Basin PSA signed, effective January 1, 2018 89,000(1)(2) net acres primarily Cleveland formation in a mature area with minimal development…
Moving Midstates Forward Midstates Petroleum Company, Inc. l NYSE: MPO 10
Midstates Focus Generate Substantial Free Cash Flow Miss Lime Operational Extensive Cost Strategic Opportunities Excellence Reduction Program Reduced headcount 35%; Selective M&A transactions High-graded development annual G&A…
Improving 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 Drilling and Completion Designs New eyes and…
Focus Capital in Miss Lime Core 2018 drilling program populated with high-graded opportunities in delineated areas, focused on optimizing capital returns 2018 focus area generating positive early-time results and completion…
Near Term Opportunities Near-by & In-the-Section Prospects Multiple horizons to exploit/explore within and near-by current Miss Lime asset area NW STACK Assets 45 section position in Dewey County, OK Strategic options for…
Strategic Opportunities Midstates Petroleum Company, Inc. l NYSE: MPO 15
Potential M&A Opportunities Operational Synergies Improving operational costs with economy of scale in and around the Mississippian Lime play Consolidated corporate structure and field operations for reduced G&A costs Sensible…
SandRidge Energy Merger Proposal Significant Acreage Overlap Provides Substantial Operating Efficiencies 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…
Key Takeaways Market-focused strategy: focusing activity, reducing costs, generating substantial free cash flow, improving liquidity - for maximum optionality Populate drill schedule with high-graded opportunities in delineated areas…
Appendix Midstates Petroleum Company, Inc. l NYSE: MPO 19
2018 Guidance (Excludes Anadarko Basin assets) Production Guidance Operational CAPEX Guidance MM Production (Boe/d) 16,000 18,000 Operational Capital Expenditures 100 - 120 Price Differential Guidance Cost Guidance per BOE Oil (per…
2018 Guidance Reconciliation Full Year 2018 Q1 2018 Actuals Guidance (Miss Lime Only) Mississippian Lime Anadarko Basin Total Company Production (Boe/d) 16,000 - 18,000 15,518 3,717 19,235 Operational Capital Expenditures (MM) 100…
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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