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Investor Presentation – Sandridge Energy, Inc.

Sandridge Energy, Inc. · Nov 14, 2013 · 28 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. Investor Presentation – Sandridge Energy, Inc. – slide 1
    Investor Presentation November 14, 2013
  2. Investor Presentation – Sandridge Energy, Inc. – slide 2
    SandRidge at a Glance Asset Map Market Value ( in millions) Mid-Continent Market Cap (11/11/2013) 2,962 Mississippian Rig Count: 25 Net Debt(a) 2,275 Preferred Stock 765 Permian Enterprise Value 6,001 Rig Count: 3 Oklahoma City…
  3. Investor Presentation – Sandridge Energy, Inc. – slide 3
    2013 Third Quarter Review Results are being realized from changes to the business plan implemented in early 2013 Grew quarterly Mid-Continent/Mississippian Company Highlights production 59% year-over-year Early stacked pay…
  4. Investor Presentation – Sandridge Energy, Inc. – slide 4
    Mid-Continent / Mississippian Overview Industry Leader: Net Acres: 1,900,000 Rig Count: 25(a) Production: 47.9 MBoe/d (3Q13) SD Horizontal Wells Drilled: 940(b) Salt Water Disposal Wells: 131(b) SD horizontal…
  5. Investor Presentation – Sandridge Energy, Inc. – slide 5
    2013 Development Focus Concentrate development in six derisked focus areas with predictable well results and established infrastructure 3,000 potential net locations across KS 600,000 net acres, excluding OK multi-zone…
  6. Investor Presentation – Sandridge Energy, Inc. – slide 6
    Type Curve Comparison to Focus Area 2013 Focus Area Drilled Wells: 211 Normalized Production from Focus Areas Gas(a) YE 2012 Type Curve Oil(b) YE 2012 All Focus Area Producing Wells: Type Curve 616 Gas(a) YE 2012…
  7. Investor Presentation – Sandridge Energy, Inc. – slide 7
    Mississippian Economics & Reserves Type Curve(a) Type Curve Parameters 160 900 EUR(b): 369 MBoe Oil (LHS) 140 800 Well Costs: 2.95MM Gas (RHS) 120 700 45% IRR 100 600 2.2MM NPV Mcf/d 500 2.0 year Payback Bbls/d 80…
  8. Investor Presentation – Sandridge Energy, Inc. – slide 8
    Mid-Continent Multi-Pay Program Prolific Regional Formations Marmaton Chester Upper Mississippian Middle Mississippian Lower Mississippian Woodford 9 Schematic diagram - Not to scale
  9. Investor Presentation – Sandridge Energy, Inc. – slide 9
    Stacked Pay Overview: Significant Multi-Zone Potential Payzone Map Stacked Payzone Advantages Materially increase resource potential in existing leasehold Improve recovery rates of significant oil in place Stacked Pay…
  10. Investor Presentation – Sandridge Energy, Inc. – slide 10
    Upper & Lower Mississippian Development Harper County, KS Grant County, OK Testing separate producing intervals within same section Multi-well development of stacked Mississippian pay Upper and Lower Miss pays established in adjacent…
  11. Investor Presentation – Sandridge Energy, Inc. – slide 11
    Discovering Incremental Resource Potential Marmaton Development, Comanche County, KS Chester Development, Woods County, OK Vertical appraisal program identified new horizontal development Geologic team constructed regional Marmaton…
  12. Investor Presentation – Sandridge Energy, Inc. – slide 12
    Woodford Appraisal Program, North Central OK Key Industry Woodford Producers Near SandRidge Leasehold Industry Woodford Activity Industry Performance, 10 North Central Counties Devon, Conrady - 295 Bbls/d - 68 Wells - IP Average…
  13. Investor Presentation – Sandridge Energy, Inc. – slide 13
    Competitive Advantage in the Mississippian SWD and Electrical investments are critical to success in this play These investments lower our cost structure and provide speed to market We are realizing attractively priced…
  14. Investor Presentation – Sandridge Energy, Inc. – slide 14
    Mid-Continent / Mississippian Production Profile Year-over-Year Production Growth(a) 2013 Quarterly Production 62.6 50.1 50 47.3 47.9 60 39.5 40 25.5 23.6 25.0 MBoe/d 30 21.2 50 46.2 29.1 20 35% 23.7 23.0 24.5…
  15. Investor Presentation – Sandridge Energy, Inc. – slide 15
    Low Cost Mississippian Developer D&C Cost Progression 3Q13 D&C costs of 2.95MM, a 450M/well, or 4.0 100% 3.6 3.5 3.4 13% decrease year-over-year 3.1 3.1 2.95 2.95 80% 3.0 60% Reductions achieved via: 2.0 MM 40% - Redesign…
  16. Investor Presentation – Sandridge Energy, Inc. – slide 16
    Low Cost Mississippian Operator Trucked Water Progression Percentage of Wells on Generator 9.0% 40% 8.0% % on Diesel Generators % on NG Generators Proactively managing infrastructure needs 8.0% 35% and capitalizing on scale allows…
  17. Investor Presentation – Sandridge Energy, Inc. – slide 17
    Gulf of Mexico / Gulf Coast Overview Gulf of Mexico / Gulf Coast Production (a) Overview 35 32.4 Shallow, offshore Gulf of Mexico 31.0 31.7 30 28.7 and Gulf Coast properties 26.4 All wells on fixed structures 25 22.9 Properties…
  18. Investor Presentation – Sandridge Energy, Inc. – slide 18
    2013 & 2014 Production Guidance Total Company Guidance by Region 40 40 36.3 35 33.6 36.3 30 35 2.6 25 32.5 MMBoe 20 12% P.F 3.3 32.5 Growth 30 15 8.3 10 5 25 10.1 2.5 0 2013 Guidance 2014 Guidance 1.1MMBoe of…
  19. Investor Presentation – Sandridge Energy, Inc. – slide 19
    2013 & 2014 Capex Guidance in millions 2013 2014 2013 2014 Well Counts Drilling and Completion Gross Net Gross Net Midcon / Mississippian 1,030 965 Midcon / Mississippian Focus Area 435 308 430 308 Midcon SWD Wells 55 55 Permian…
  20. Investor Presentation – Sandridge Energy, Inc. – slide 20
    Credit Profile Leverage(a) 1.7B of liquidity at quarter end 5.0x 4.6x 4.3x - 920MM of cash 4.0x - Fully undrawn 775MM credit facility 3.4x 2.9x 3.0x 2.4x 2.4x 2.0x Credit facility reaffirmed in October at 775MM 1.0x…
  21. Investor Presentation – Sandridge Energy, Inc. – slide 21
    Company Highlights Premier operator in the play with the lowest cost structure High rate of return, oil weighted development opportunities; 45% IRR at current strip prices Leader in the Largest salt water disposal and electrical…
  22. Investor Presentation – Sandridge Energy, Inc. – slide 22
    Appendix
  23. Investor Presentation – Sandridge Energy, Inc. – slide 23
    Capital Structure Overview in millions Senior Notes Preferred Stock 8.5% Convertible Perpetual Preferred(a) 265 8.75% Sr Notes due 2020 445 6.0% Convertible Preferred(b) 200 7.5% Sr Notes due 2021 1,179 7.0% Convertible Perpetual…
  24. Investor Presentation – Sandridge Energy, Inc. – slide 24
    Hedging Overview Oil 4Q13 2014 2015 Swaps Volumes (MMBbls) 3.49 8.81 7.98 Price (/Bbl) 99.48 92.98 86.13 Three-way Collars Volumes (MMBbls) - 8.21 2.92 Call Price (/Bbl) - 100.00 103.13 Put Price (/Bbl) - 90.20 90.82 Short Put…
  25. Investor Presentation – Sandridge Energy, Inc. – slide 25
    2013 & 2014 Guidance 2013 2014 2013 2014 Production Price Realizations Oil (MMBbls) 14.2 15.4 (a) Natural Gas Liquids (MMBbls) 2013 P.F. 2.2 3.9 Oil (differential below WTI) 0.50 1.00 Total Liquids (MMBbls) 15.5 16.5 19.3 NGLs…
  26. Investor Presentation – Sandridge Energy, Inc. – slide 26
    Royalty Trusts Overview SandRidge SandRidge SandRidge Mississippian Trust I Permian Trust Mississippian Trust II Ticker SDT PER SDR Producing Wells 37 517 67 Trust Interest in Producing Wells 90% 80% 80% Development Wells 124…
  27. Investor Presentation – Sandridge Energy, Inc. – slide 27
    Proved Reserves Overview YE12 Proved Reserves(a) P.F.(c) Reserves by Category(a) Oil(b) Gas Reserves (MBbls) (MMcf) (MBoe) Year-End 2012 330,040 1,415,042 565,880 PDP - 46% Permian Sale Adjustments (160,836) (228,229) (198,874) PDNP…
  28. Investor Presentation – Sandridge Energy, Inc. – slide 28
    Contact: Investor Relations Address: 123 Robert S. Kerr Avenue, Oklahoma City, OK 73102 Phone: 405-429-5515 Email: InvestorsSandRidgeEnergy.com Website: www.SandRidgeEnergy.com

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