Investor Presentation 2022 SandRidge Energy, Inc. NYSE: SD
SandRidge Investment Highlights SandRidge Energys SEC PD Reserve PV-10 is 433MM(1) with net cash of 140MM(2) Millions SEC Proved Developed Reserve PV-10(1) 433 Proved Developed Reserve PV-10 at Mar. 2 Strip Prices(3) 546 Cash and…
2021 Performance and Key Accomplishments The Company operated well within its 2021 guidance(13) ranges for production, capital expenditures, LOE, and Adjusted G&A Production (MBoed) Capex (MM) 18.6 17.6 12.0 6% 11.0 above 9%…
SandRidge Key Highlights Over the past few years, the Board and Management have focused SDs assets, optimized its production profile, streamlined its organization and cost structure, strengthened its balance sheet and maintained an ESG…
SandRidge Go-Forward Strategy The Companys primary strategic focus is to grow the cash value and generation capability of its asset base to accelerate shareholder value realization in a safe, responsible and efficient manner Continual…
Midcon Asset Position 368K acre position across northern OK and southern KS Daily average production rate of 18.6 MBoed in 2021 Shallowing base declines will be lessened further from 30 well reactivations and focused drilling in 2022…
2022 NW Stack Drilling Program High-graded locations offer attractive returns in current pricing environment Overview NW Stack NW Stack 2022 NW Stack Drilling Program Average Offset Performance(21) 2022 NW Stack…
Production Optimization The Company has implemented a disciplined program of high ROI workover and other projects to shallow its PDP decline profile Work done to date has played a key role in achieving flat production over the trailing…
Midcon Operating Cost Structure Since 2016, the Company lowered its annual absolute LOE by 75% and its LOE per Boe by 30% Overview LOE(24) Reduced annual absolute LOE by LOE Expense Workover LOE/Boe 75% since 2016 150 5.52 6.0 Per…
Owned and Operated, Integrated Water and Power Infrastructure Across Acreage Footprint The Company believes that: Owned and operated SWD and EDS systems provide a field cost and strategic advantage relative to abutting operators…
SandRidge Organization Today Starting in 2018, the Board and Management initiated meaningful personnel reductions to right size the organization to better align with the asset base and activity levels as well as to improve the ratio…
Streamlined G&A The Company has lowered its annual absolute and per Boe G&A by 75% and 60%, respectively, since 2018 Total G&A(27) 150 8.0 6.50 Total G&A / Boe (/Boe) 6.0 SD Total G&A (MM) 5.10 100 3.38 4.0 125.9…
Peer Leading EBITDA-to-FCF Conversion and Net Leverage Free cash flow as a percentage of EBITDA leads peers No debt obligations Free Cash Flow as a % of EBITDA, SD to Peers (29)(30) 100% 50% 0% -50% -100% -150% SD…
2022 Guidance Production Oil (MMBbls) 0.9 1.1 Natural Gas Liquids (MMBbls) 1.8 - 2.2 Total Liquids (MMBbls) 2.7 - 3.3 Natural Gas (Bcf) 17.5 - 21.0 Total Production (MMBoe) 5.6 - 6.8 Capital Expenditures Drilling and…
APPENDIX SandRidge Energy, Inc. NYSE: SD
. Improving NGL and Gas Realizations Realizations continue to build back up to pre-pandemic levels, further enhancing SDs strong margins and cash flow Price realizations are a key value driver for the Company on which the Board and…
Endnotes 1) Represents discounted future net cash flows relating to proved oil, natural gas, and NGL reserves based on the standardized measure in ASC Topic 932. Determined using SEC prices and does not reflect actual prices received or…
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