SandRidge Energy, Inc. · NYSE:SD
SandRidge Energy — Q2 2017 Earnings Presentation
14 slides from SandRidge Energy's earnings presentation, 2017
Slide 1: SandRidge Energy Earnings Presentation
FY SANDRIDGE energy A <p OP EARNINGS _ PRESENTATION www.sandridgeenergy.com
Slide 2: Cautionary Statements
Cautionary Statements 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 i
Slide 3: SandRidge Energy
SandRidge Energy With a strong balance sheet, we have built a portfolio of three project areas with competitive project IRRs and significant location inventories. Investment will continue with the development of both our NW STACK and North Park Niobrara oil projects and high- graded harvest of our M
Slide 4: Q2'17 Operational and Financial Results
Q2'17 Operational and Financial Results Successful NW STACK drilling and North Park outperformance build momentum OPERATING ACTIVITY FINANCIAL HIGHLIGHTS GUIDANCE UPDATE NW STACK + $200 million Drilling Participation Agreement with $100 million of initial funding + 902 Boepd (81% oil) 30-Day IP on C
Slide 5: NW STACK Asset Overview
CK Asset Overvie _ Meramec and Osage development extending northwest * Overlaying Major, Garfield, Woodward, Blaine and Dewey counties — Approximately 100 miles east to west * Meramec and Osage formations — Same productive formations as STACK — Structurally deepens from northeast to southwest : * Ov
Slide 6: NW STACK Activity
K Ac y Meramec IPs averaging 700-800 Boepd (~60% oil) and Osage IPs averaging 700-800 Boepd (~40% oil) SandRidge Activity 20 Rigs from 12 Operators + 2017 D&C capex of $60-65MM + 34 laterals pl d for 2017 WOODWARD GARFIELD aterals planned for MAJOR * Drilling Meramec formation fi reservoir character
Slide 7: NW STACK Drilling Participation Agreement
K Drilling Participation Agreem WH transaction highlights NW STACK asset value Drilling Agreement Terms $200MM agreement with $100MM initial funding to drill within 30 dedicated sections Wellbore-only conveyance, targeting the Meramec Carry and reversionary interest structure SandRidge retains all o
Slide 8: North Park Niobrara Asset Overview
North Park Niobrara Asset Overview FY _ Large contiguous acreage position in Jackson County, Colorado Repeatable resource play expands drillable ] Ean inventory and enhances oil value CR * Dominant position of 125k net acres * Stacked Niobrara pay with multiple benches * 57% held by production or fe
Slide 9: 2016 Niobrara Program Success
2016 Niobrara Progr ccess BI 10 wells drilled in 2016, outperforming type curve Lowered costs, optimized completions, drilled first XRL and “C” bench wells 2016 Drilling Results Gregory 1-9H 550 Boepd (89% oil) Hebron 1-18HR 432 Boepd (92% oil) ~ Hebron 2-18H 445 Boepd (89% oil) SEVERE 4 Castle 1-17
Slide 10: Niobrara Oil Production
Niobrara Oil Production _ Optimized completions from 2016 drilling program DAILY OIL RATE 1,000 Avg Oil Rate (Bopd) Producing Days © SD8 Laterals Initial Type Curve == Lateral Count Lateral Count Avg Cumulative Oil (Bbls) 100,000 75,000 50,000 CUMULATIVE OIL 8 Laterals Cumulative Oil 30 94 MBbis 77
Slide 11: Niobrara Type Curve Update
Niobrara Type Curve Update Fy _ Shallower decline vs initial estimates drive value improvement XRL TYPE CURVE UPLIFT IMPROVED ECONOMICS ron * PV-10 increase of ~$1MM + IRR uplift Type Curve Cumulative Oil Production (MBo) Initial Current g 90 Days 66 66 & 180 Days 103 113 2 100 e 365 Days 139 164 5
Slide 12: North Park Niobrara Activity
North Park Niobrara Activity Fy — Increasing activity as a result of production outperformance and federal unit approval * 2017 D&C capex of $60-65MM Net Acreage Held by Federal Unit * Resumed drilling in June with one rig * 11 XRLs planned for 2017 — Three XRLs will hold 37k net acres in three fede
Slide 13: Updated 2017 Capital Allocation
Updated 2017 Capital Allocation WH Accelerating delineation, building net asset value and positioning for full field (1) (2) (3) 12 development 2017 MIDPOINT CASS CUBASE G14) UPDATED PREVIOUS VARIANCE Mid-Continent D&C $63 $68 $5 North Park D&C 63 23 40 Other - D&C! 20 24 ea Total Drilling & Complet
Slide 14: Updated 2017 Production Guidance
Updated 2017 Production Guidance FY _ Raising total production 200 MBoe at the midpoint, with oil comprising half of increase 2017 MIDPOINT Guidance Detail PRODUCTION GUIDANCE EET . UPDATED PREVIOUS VARIANCE * North Park production outperformance Oil (MMBbIs) 42 a 01 drives increase of 100 MBbls of