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Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum

Midstates Petroleum · Nov 3, 2014 · 14 slides

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Slides

  1. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 1
    MIDSTATES PETROLEUM COMPANY, INC. Supplemental Information 3Q 2014 Earnings Call
  2. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 2
    Key Messages Delivered 131.7 mm in Adjusted EBITDA and 19.3 mm in Adjusted Net Income, both above consensus Increased Q3 production to 33,799 Boe/d; without the effects of a prior period adjustment, production for the quarter would…
  3. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 3
    Demonstrated Performance Net Production Adjusted EBITDA(1) 35,000 32,000 - 35,000 Gulf Coast 500 30,000 23,926 Anadarko 25,000 400 20,000 Gulf Coast 300 330 Q3 132 BOE/D MM 15,000 Anadarko 9,999 200 Miss Q2 122…
  4. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 4
    Mississippian Lime: Premier Position Net Production (Boe/d) (1) 30,000 24,000 25,000 23,834 25,000 20,698 20,000 17,579 16,381 Gas 14,364 15,000 NGL 10,426 9,468 Oil 10,000 7,207 5,000 - Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4…
  5. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 5
    Mississippian Lime: Differentiated Performance Continuing Top Tier overall well performance in the Mississippian Lime 189 wells on production 30 days: Average peak 30-day rate of 575 Boe/d Four wells in Q314 with 30-day peak rates…
  6. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 6
    Anadarko Basin: Liquids-Rich Targets Net Production (Boe/d) 10,000 8,404 8,454 8,376 8,885 8,486 8,300-8,500 8,004 8,000 6,000 Gas NGL 4,000 Oil 2,000 - Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2013 2013 2014 2014 2014 2014E MPO…
  7. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 7
    Anadarko Basin: Prolific Multi Stacked Horizons Cleveland and Marmaton Well established Good well control and predictability Solid results Cleveland average 30 day peak 376 Boe/d Two Marmaton wells with 30 day rates 400 Boe/d…
  8. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 8
    Strong Margin Enhances Financial Stability 2014 Quarterly Adjusted EBITDA(1) / Boe Despite sale of Pine Prairie properties with high oil percentages, our low costs and strong Miss Lime results have maintained our Mid Con leading…
  9. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 9
    Enhanced Financial Position Strong EBITDA growth millions Q314 Adjusted EBITDA: 132mm 9/30/14 debt/EBITDA: 3.6x Liquidity September 30, 2014 : 181 mm Revolver Cash Balance Borrowing base Net Liquidity September 30 Liquidity…
  10. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 10
    Guidance (as of November 5, 2014) Q4 2014 Daily Production (Boe/day)(1) 33,000 - 34,000(1) Miss+ Anadarko LA By Area 73% 25% 2% Oil 35-40% 45-50% 60-65% NGL 20-25% 20-25% 15-20% NG 40-45% 30-35% 20-25% Operating Capital…
  11. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 11
    Hedging Summary (as of Nov 4, 2014) (3) 2014 2015 Oil Q4 Total Q1 Q2 Q3 Q4 Total WTI Swaps Volume (Bbls) 1,097,000 1,097,000 1,080,000 1,092,000 552,000 552,000 3,276,000 Volume (Bbl/d) 11,924 11,924 12,000 12,000 6,000 6,000 8,975…
  12. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 12
    Adjusted EBITDA Reconciliation For the Three For the Three For the Three Months Ended Months Ended Months Ended Sept 30, June 30, March 31, For the Year Ended December 31, 2014 2014 2014 2013 2012 2011 Adjusted EBITDA…
  13. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 13
    Cash Operating Expenses Reconciliation 2014 2013 Q3 Q2 Q1 Q1 Q2 Q3 Q4 Operating Expenses - GAAP 113,670 116,325 196,640 73,082 104,061 122,376 577,396 Adjustments for certain non-cash items: Asset retirement accretion (406)…
  14. Supplemental Information 3Q 2014 Earnings Call – Midstates Petroleum – slide 14
    Midstates Petroleum Company Contact Information HOUSTON Investor Relations 4400 Post Oak Pkwy, Suite 2600 Chris Delange Houston, TX 77027 Investor Relations Manager Main Phone (713) 595-9400 (713) 595-9411 Fax (713) 595-9499…

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