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UBS Global Oil and Gas Conference – Midstates Petroleum

Midstates Petroleum · May 21, 2014 · 24 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. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 1
    UBS Global Oil and Gas Conference May 21, 2014 Dr. Peter Hill, Interim President and CEO
  2. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 2
    Refocused Energy Deliver Financial Stability Focus on Core Areas in the Miss Lime & Anadarko Enhance Adjusted EBITDA & Production Value Expand & High-grade Inventory Continue Operational Excellence Evaluate Options to Unlock…
  3. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 3
    Midstates Petroleum Overview Q1 2014 Avg Daily Production 29,004 Boe/d Mississippian Lime(3) Oil (% Total) 13,417 Boe/d (46%) 94,400 acres NGL (% Total) 5,912 Boe/d (21%) Proved Reserves 12/31/13 127.8 million BOE (4) Oil (% Total)…
  4. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 4
    Growing Production and EBITDA Net Production Adjusted EBITDA(1) 500 - 550 40,000 500 32,000 - 35,000 35,000 Gulf Coast 400 30,000 23,926 Anadarko 25,000 300 MM BOE/D 20,000 Gulf Coast 15,000 Anadarko 200 9,999 330…
  5. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 5
    Focus on Core Area Mississippian Lime: Premier Position 25,000 Net Production (Boe/d) 20,50021,525 22,500 20,000 17,579 16,381 14,364 15,000 Gas NGL 10,426 9,468 Oil 10,000 7,207 5,000 - Q4 2012 Q1 2013 Q2 2013…
  6. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 6
    Enhance Adjusted EBITDA & Production Value Mississippian Lime: Differentiated Performance Top Tier overall well performance in the Mississippian Lime trend 146 wells on production 30 days: Average peak 30-day rate of 565 Boe/d Peak…
  7. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 7
    Expand & High-Grade Inventory Mississippian Lime: Quantifying the Upside Top St. Gene. Base St. Gene. Manning Updip Limit Updip Limit Enhanced Porosity Updip limit Primary Porosity Highly Altered Middle Miss Individual…
  8. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 8
    Focus on Core Area Anadarko Basin: Liquids-Rich Targets Net Production (Boe/d) 12,000 9,400 10,400 10,000 8,404 8,454 8,376 8,004 8,000 Gas 6,000 NGL Oil 4,000 2,000 - Q2 2013 Q3 2013 Q4 2013 Q1 2014 2014E…
  9. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 9
    Expand & High-Grade Inventory Anadarko Basin: Prolific Multi Stacked Horizons Multiple Producing Formations Cleveland and Marmaton Well established Good well control and predictability Solid results Tonkawa and Cottage Grove…
  10. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 10
    Expand & High-Grade Inventory Anadarko Basin: Well Performance and Highlights Wells with 30 day peak IP rates June 1, 2013 thru April 16, 2014 Wells Wells with Peak 30 Day Formation Spud 30 day IPs IP Boe/d Cleveland 33 26 374…
  11. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 11
    Expand & High-Grade Inventory Fleetwood 3D Seismic Area: Organic Growth Potential DeQuincy Fleetwood Upper Gulf Coast Tertiary Trend Producing Areas Fleetwood 3-D Seismic Area 30,000 acres leased 355 MMBoe gross un-risked…
  12. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 12
    Continue Operational Excellence Cash Operating Expense Improvements (1) (2) Absolute Q1 2014 costs were lower than Q4 2013; per BOE higher due to winter weather impacting production LOE and G&A improvements are sustainable,…
  13. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 13
    Enhance Adjusted EBITDA & Production Value Demonstrating Capital Efficiency Guidance: 500 to 550 million 62% Miss Lime, 35% Anadarko, and 3% Gulf Coast Excludes Capitalized Interest(1) 10 rigs running in 2Q 2014 Six rigs in the…
  14. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 14
    Deliver Financial Stability Enhanced Financial Position Strong EBITDA growth Q1 2014 Adjusted EBITDA 111mm, projected 500 - 550mm for 2014 Projected debt/EBITDA of 3.5x by year end 2014 millions Liquidity May 1, 2014 post Pine…
  15. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 15
    Refocused Energy Deliver Financial Stability Focus on Core Areas in the Miss Lime & Anadarko Enhance Adjusted EBITDA & Production Value Expand & High-grade Inventory Continue Operational Excellence Evaluate Options to Unlock…
  16. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 16
    Appendix 18
  17. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 17
    Mississippian Lime: Statistics Position 77,000 net acres in the Mississippian Lime in Woods & Alfalfa counties Oklahoma (1) Interest Operate 92% of 240 producing wells 70% avg. WI and 55% NRI Product Mix and Pricing 40% Oil,…
  18. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 18
    Anadarko Basin: Statistics Position 119,700 net acres (66% held by production) with 91,600 acres in Northeast Texas Panhandle and 28,100 acres in Western Oklahoma Interest Operate 79% of 340 producing horizontal wells 69% avg. WI…
  19. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 19
    Guidance (as of May 7, 2014) Q2 2014 FULL YEAR 2014 Daily Production (boe/day)(1) 32,000 - 33,000(1) 32,000 - 35,000 (1) Miss+ Anadarko LA Miss+ Anadarko LA By Area 63% 29% 8% By Area 64% 29% 7% Oil 35-40% 45-50% 60-65% Oil 35-40%…
  20. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 20
    Hedging Summary (as of March 31, 2014) 2014 Oil Q2 Q3 Q4 Total 2015 WTI Swaps Volume (Bbls) 1,080,950 1,097,000 1,097,000 3,274,950 1,820,000 Volume (Bbl/d) 11,879 11,924 11,924 11,909 4,986 Price (/Bbl) 88.48 89.04 89.04 88.85…
  21. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 21
    Adjusted EBITDA Reconciliation For the Three Months For the Twelve Months Ended March 31, Ended December 31, 2014 2013 2012 2011 Adjusted EBITDA reconciliation to net loss: Net income (loss) (83,645) (343,985) (150,097) 16,657…
  22. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 22
    Cash Operating Expenses Reconciliation 2013 2014 Q1 Q2 Q3 Q4 Q1 Operating Expenses - GAAP 73,082 104,061 122,376 577,396 196,640 Adjustments for certain non-cash items: Asset retirement accretion (254) (313) (421) (447) (497)…
  23. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 23
    Preferred Share Dividend Calculation Key Tems Calculation: Dividend Payment dates: March 30 September 30 Conversion into Conversion into Common Shares Common Shares Rate: 8% per annum Per share Total 13.50 11.00 Compounding:…
  24. UBS Global Oil and Gas Conference – Midstates Petroleum – slide 24
    ------------------------------------- Investor Relations Contacts Danielle Burkhart Vice President, Investor Relations (713) 595-9409 Danielle.Burkhartmidstatespetroleum.com ------------------------------------- Al Petrie…

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