SandRidge Energy, Inc. · NYSE:SD
SandRidge Energy — Q3 2014 Earnings Presentation
9 slides from SandRidge Energy's earnings presentation, Nov 6, 2014
Slide 1: Thursday, November 6, 2014
Thursday, November 6, 2014 1
Slide 2: Disclaimer: Forward Looking Statement
DISCLAIMER Forward Looking Statement This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements express a belief, expectation or intention an
Slide 3: Q3'14 – Continued Strong Well Results
Q3’14 – CONTINUED STRONG WELL RESULTS RESULTS Focus and Innovation Yield Exceptional Operating Results Operational Update • Third quarter total company production 80 Mboe/d, 14% growth quarter-over- quarter • Mid-Continent production grew 39% year-over-year and 19% quarter-over-quarter to 67 Mboe/d
Slide 4: 2014 Production Guidance Update
2014 PRODUCTION GUIDANCE UPDATE GUIDANCE (A) 2013: 11.3 MMBoe of non-recurring production related to divested Permian and GoM assets (B) 2014: 1.3 MMBoe of non-recurring production related to divested GoM assets (2/25/2014 closing) www.SandRidgeEnergy.com 4 4
Slide 5: 2014 Operational Guidance Update
2014 OPERATIONAL GUIDANCE UPDATE GUIDANCE Updating 2014 Guidance: Production Ranges Have Been Tightened to Account for Third Quarter Performance a) EBITDA from Oilfield Services and Other is a non-GAAP financial measure as it excludes from net income interest expense, income tax expense and deprecia
Slide 6: 2014 Capex Guidance
2014 CAPEX GUIDANCE GUIDANCE ($ in millions) DRILLING AND COMPLETION (D&C) Updated Previous Change Land & Seismic Budget Increased to Mid-Continent/Mississippian $1,040 1,040 Mid-Continent SWD Wells 60 60 Take Advantage of Acreage Opportunities Permian Gulf of Mexico / Gulf Coast 145 20 110 10 35 10
Slide 7: Liquidity and Capital Structure: $1.2 Billion Undrawn Borrowing Base
LIQUIDITY AND CAPITAL STRUCTURE FOCUSED $1.2 Billion Undrawn Borrowing Base • Increased revolver from $775MM maturing in 2017 to $900MM credit facility maturing in 2019 − $1.2 Bln borrowing base − $2 Bln maximum facility size − Closed October 22, 2014 with 27 lending institutions • Note: $200MM of 6
Slide 8: Valuable Hedge Position: Majority of Liquids Hedged >$90 Through 2015
VALUABLE HEDGE POSITION Majority of Liquids Hedged >$90 Through 2015 HEDGING Q4 2014: 92% of Liquids Volumes Hedged 2015: 10.2 MMBBls Liquids volumeS hedged 2016: 4.0 MMBBLS Liquids volumeS hedged 1.5 MMBbls 1.1 MMBbls 5.6 MMBBLS $88.36/ BBL SWAPS 3-Way SWAPS UNHEDGED UNHEDGED $98.78/Bbl Collars $92
Slide 9: SandRidge Investor Relations
Our Mission at SandRidge is to create the premier, high-return, growth-oriented, resource conversion company, focused in the Midcontinent region of the United States. SANDRIDGE INVESTOR RELATIONS 123 Robert S. Kerr Avenue, Oklahoma City, OK 73102 investors@sandridgeenergy.com www.SandRidgeEnergy.com