Investor Presentation 2023 SandRidge Energy, Inc. NYSE: SD
SandRidge Investment Highlights SandRidge Energys SEC PD Reserve PV-10 is 811MM(1) plus net cash of 257MM(2) Millions SEC Proved Developed Reserve PV-10(1) 811 Cash and cash equivalents(2) 257 Total Debt(3) 0 2022 Adj. EBITDA…
2022 Review The Company was within the range or beat 2022E production, capital expenditures, LOE, and Adjusted G&A guidance(10) Production (MBoed) Capex (MM) 17.7 In line with MPOG 56.0-70.0 16.2-19.5 49.2 12% below LPOG…
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 in a safe, responsible and efficient manner, while prudently allocating capital to high-return…
Midcon Asset Position 365K acre position across northern OK and southern KS Daily average production rate of 17.7 MBoed in 2022 Shallowing base declines will be lessened further from 12 planned well reactivations and 2023 drilling…
Production Optimization The Company continues to implelment a disciplined program of high ROI workover and other projects to shallow its PDP decline profile Workovers have played a key role in achieving a relatively flat production…
Midcon Operating Cost Structure Since 2016, the Company lowered its annualized absolute LOE by 65%, and continues cost discipline focus while actively combating recent inflationary pressures Overview LOE(14) Continuous review of…
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 nearly 60%, respectively, since 2018 Total G&A(17) 150 8.00 6.50 SD Total G&A / Boe (/Boe) 6.00 SD Total G&A (MM) 5.10 100 3.38…
Peer Leading EBITDA-to-FCF Conversion and Net Leverage Free cash flow as a percentage of EBITDA leads peers No debt obligations SD LTM EBITDA-to-FCF conversion of 60% Free Cash Flow as a % of EBITDA, SD (FY22) to Peers (3Q22 YTD)…
2023E Guidance New wells increase oil percentage of total Boe production to 17%, further diversifying the Companys revenue profile 2023E Guidance Production Oil (MMBbls) 0.9 1.1 Natural Gas Liquids (MMBbls) 1.7 - 2.1 Total…
APPENDIX SandRidge Energy, Inc. NYSE: SD
NW Stack Overview Maintain full command of activity levels allowing flexibility to alter plans during changing environments Overview NW Stack SandRidges acreage position is in the core of the NW Stack Higher oil content further…
Adjusted EBITDA and Free Cash Flow Reconciliation of Net Income to Adjusted EBITDA Year Ended December 31, 2022 (In thousands) Net income 242,168 Adjusted for Income tax benefit (64,529) Interest expense 215 Depreciation 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 YE22 reserves at January 1, 2023 effective date and 2022…
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