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Howard Weil 41st Annual Energy Conference – Midstates Petroleum

Midstates Petroleum · Mar 18, 2013 · 19 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 1
    Howard Weil 41st Annual Investor Energy Conference Presentation New Orleans, Louisiana March 18, October 2013 2012 1
  2. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 2
    2012 Accomplishments Completed IPO that raised 216 million in net proceeds to MPO Funds used to reduce debt and increase working capital Closed 650 million acquisition of properties in Oklahoma and Kansas Significantly increased…
  3. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 3
    Impressive Reserve Growth Organically replaced 572% of 2012 production Since acquiring the Mid-Continent assets (Oklahoma and Kansas) on October 1, 2012, increased reserves by 3.7 MMBoe in the fourth quarter alone Increased proved…
  4. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 4
    Focused on Production Growth 2013E Production Mix Average 2013 production estimated between 20,000 23,000 Boe/d 60% Oklahoma and 40% Louisiana NGLs Planned 2013 Capital Spending: 420 450 million Currently running 7 drilling rigs in…
  5. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 5
    Gulf Coast Oil Focused Primary Target: Wilcox Trend Four Primary Producing Fields Q4 2012 Production: 8,385 Boe/d LLS Premium Pricing Producing wells 96% Operated & 98% Avg. WI 151,800 Net Acres (1) Year-End 2012 Proved Reserves:…
  6. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 6
    Gulf Coast Strategy Pliocene Oil Focused Neogene Upper Miocene Miocene Attractive Oil-Weighted Assets Middle Miocene Redevelop legacy oil fields with new technologies Lower Miocene Well-established production histories…
  7. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 7
    Development of the Gulf Coast Region 9 Louisiana Horizontals Pine Prairie Program Musser-Davis 8H-1 (N. Cowards Gully) 52 Wells Spud in Pine Prairie in 2012 Target: Upper Wilcox B Sand 28 Wilcox & 24 Miocene / Frio wells 2,200…
  8. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 8
    Mid-Continent: Mississippian Lime Oil Play Acquired the assets of Eagle Energy, a private E&P company & a leading player in the Mississippian Lime in northern Oklahoma 325 million cash 325,000 shares of Series A Midstates Mandatorily…
  9. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 9
    Mississippian Lime: A Defined Core Position Cheyenne Republic Rawlins Decatur Norton Phillips Smith Jewell Washington Marshall Nemaha Cloud Jackson Kit Carson Sherman Mitchell Thomas Sheridan Pottawatomie Graham Rooks Osborne…
  10. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 10
    Mississippian Lime: Attractive Oil Play 40% Oil, 20% NGL, & 40% Natural Gas NGL Content: 36% Ethane, 27% Propane, 17% Butane, and 20% Pentane Oil Realizations: 6 discount to WTI Gas Realizations: 0.20 discount to Henry Hub…
  11. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 11
    Concentrated on the Core of the MS Lime 70 wells producing from the Mississippian Lime 90% of wells producing with Electrical Submersible Pumps (ESPs) Placed 19 wells on production since 10/1/2012 (acquisition closing date) 17 wells…
  12. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 12
    Mississippian Lime: A Core Position As of March 2013, Midstates has 69 wells that have been on production for at least 30 days Average 30-day rate for all 69 wells is 586 Boe/d 36 wells had 30-day rate in excess of 500 Boe/d 11…
  13. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 13
    Improving Rates of Return Average Mississippian well: 3.6 million(1) 4,600 foot laterals and 10 frac stages Reduce average D&C cost to drive rates of return Transition rigs to include top drives Optimize completion techniques…
  14. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 14
    Targeting Conservative Financial Position Position for strong, stable capitalization with adequate liquidity Target conservative leverage in steady state business Achieve strong operating margins millions Target hedged volumes of 50%…
  15. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 15
    Capital Investment Plans Capital Program Supports Growth 2013 Capital Program Guidance: 420 to 450 million 500 2013 Guidance 60% Oklahoma and 40% Louisiana 420 to 450 MM 450 438 MM Excludes Capitalized Interest(1) 400 8 rigs…
  16. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 16
    Key Investment Highlights Attractive Liquids-Weighted Assets 2012 Year-end Reserves: 50% Oil & 19% NGLs Multi-Play Diversification Lower-risk Mississippian Lime play balances high-reward Louisiana Upper Gulf Coast Tertiary play…
  17. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 17
    Appendix 19
  18. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 18
    Guidance (as of March 6, 2013) Q1 2013 Full Year 2013 Daily Production (boe/day)(1) 16,300 - 17,300 20,000 - 23,000 60% Oklahoma 60% Oklahoma Capital Expenditures (2) 120mm - 125mm 420mm - 450mm 45% La / 55% Ok 40% La / 60% Ok…
  19. Howard Weil 41st Annual Energy Conference – Midstates Petroleum – slide 19
    Hedging Summary (as of March 6, 2013) 2013 Q1 Q2 Q3 Q4 2014 Oil WTI Swaps (Louisiana) Volume (Bbls) 419,400 424,060 428,694 428,720 809,950 Volume (Bbl/d) 4,660 4,660 4,660 4,660 2,219 Price (/Bbl) 94.50 94.50 96.07 97.08 87.33 WTI…

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