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1 
Wednesday, September 3, 2014
2 
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 and are generally accompanied by words that convey 
projected future events or outcomes. The forward-looking statements include statements about the company’s future operations, rig counts, drilling inventory 
and locations, acreage positions, corporate strategies, including the exploration and development of the Midcontinent and potential monetization of saltwater 
disposal infrastructure, generating high rates of return from quality assets in our focus areas, estimates of oil and natural gas production, projected capital 
expenditures and other costs, liquidity and leverage, debt maturities, price realizations, projected earnings, and hedging strategies. We have based these 
forward-looking statements on our current expectations and assumptions and analyses made by us in light of our experience and our perception of historical 
trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. However, whether 
actual results and developments will conform with our expectations and predictions is subject to a number of risks and uncertainties, including the volatility of oil 
and natural gas prices, our success in discovering, estimating, and developing oil and natural gas reserves, the availability and terms of capital, our timely 
execution of hedge transactions, credit conditions of global capital markets, changes in economic conditions, regulatory changes and other factors, many of 
which are beyond our control. We refer you to the discussion of risk factors in Part I, Item 1A – “Risk Factors” of our Annual Report on Form 10-K for the year 
ended December 31, 2013 and in comparable “Risk Factors” sections of our Quarterly Reports on Form 10-Q filed after the date of this presentation. All of the 
forward-looking statements made in this presentation are qualified by these cautionary statements. The actual results or developments anticipated may not be 
realized or, even if substantially realized, they may not have the expected consequences to or effects on our company or our business or operations. Such 
statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking 
statements. We undertake no obligation to update or revise any forward-looking statements. 
The SEC permits oil and natural gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves, as each is defined by the 
SEC. At times we use the term "EUR" (estimated ultimate recovery) and refer to their location and potential to provide estimates that the SEC’s guidelines 
prohibit us from including in filings with the SEC. These estimates are by their nature more speculative than estimates of proved, probable or possible reserves 
and, accordingly, are subject to substantially greater risk of being actually realized by the company. For a discussion of the company’s proved reserves, as 
calculated under current SEC rules, we refer you to the company’s Annual Report on Form 10-K referenced above, which is available on our website at 
www.sandridgeenergy.com and at the SEC’s website at www.sec.gov. 
Regulation G Disclosure: This presentation includes certain non-GAAP financial measures as defined under SEC Regulation G. A reconciliation of those 
measures to the most directly comparable GAAP measures is available on our website at www.sandridgeenergy.com.
3 
SANDRIDGE MISSION 
Premier Mid‐Continent Company 
MISSION STATEMENT 
Our Mission at SandRidge 
is to create the premier, 
high-return, growth-oriented, 
resource conversion company, 
focused in the Mid-Continent 
region of the United States. 
1
a) Non-GAAP financial measure. Refer to the Disclaimer slide for additional 
4 
disclosure 
b) Pro Forma for the Q1’14 Gulf of Mexico divestiture 
c) SandRidge consolidated reserves as of YE2013 including royalty trusts 
d) Based on YE13 SEC pricing ($93.42/$3.67) 
SANDRIDGE COMPANY OVERVIEW 
MARKET VALUE ($ in millions) 
Market Cap (08/29/2014) $2,590 
Net Debt(a) 2,276 
Preferred Stock 765 
Enterprise Value $5,370 
ASSET OVERVIEW(b)(c) 
Q2’14 Production (MBoe/d) 69.8 
Proved Reserves (MMBoe) 377 
% Reserves as Liquids 46% 
YE13 PV10 Value ($Bln)(d) $4.1 
• Rig counts are projected averages for 2014 
www.SandRidgeEnergy.com 2 
SD Quick Facts 
• Fractured Carbonate Focus 
• Mid-Continent, Horizontal 
Mississippian Leader 
• Sub-$3.0MM/well, 380 MBoe EUR 
• Stacked Pay Development 
• $1.5Bln Capex Plan 
• $919MM Cash at Q2’14
5 
INVESTMENT THESIS 
3 
20+% Production Growth, 30+% EBITDA 
Growth & Flattish Capex 
• Growth program continues to improve 
– New zones (Chester, Woodford), New areas (Garfield) 
– Better than type curve results 
• Base assets performing well 
– Consistent decline ratios, GOR and EURs 
• Approximate doubling of production in three years 
• Operating leverage yields higher EBITDA growth 
• Outspend shrinks year over year 
• Plus infrastructure, new zone, and expanding footprint upsides 
• Excess liquidity and no bond maturities until 2020 
• Pursuing unlock of infrastructure value 
Refined Business Model 
FOCUSED 
Strategy, Execution and Culture 
are Focused 
COMPETITIVE ADVANTAGE 
Established Infrastructure, Sizable 
Leasehold and Vast Knowledge Base 
ACTIONABLE GROWTH 
Confidence in the Drilling Inventory 
and Asset Quality 
INNOVATION 
Team Mindset of Continuous 
Improvement 
UPSIDES 
Multi-zones, Appraisal Areas 
and SWD Business 
FUNDED 
Excellent Liquidity, Leverage, 
and Visible Funding into Future 
www.SandRidgeEnergy.com
* STRIP 8/1/2014 
6 
ACTIONABLE GROWTH WITH UPSIDES 
20+% Production Growth, 30+% EBITDA Growth & Flattish Capex 
Stacked Oily Pay Zones 
Significant Acreage Position 
FOCUSED 
* 
Improving Already Strong Returns 
www.SandRidgeEnergy.com 4
ACTIONABLE 
• Confident in multi-year 
drilling program 
• Existing focus area position 
provides >4,500 locations 
• PDP base decline is flattening 
• Assumes average capital 
expenditure program of 
~$1.55 Bln 
• Well cost improvements from 
$3.0 to $2.7 MM 
7 
MULTI‐YEAR PRODUCTION GROWTH 
Confidence in Asset Base and Execution 
2016 Activity 
15 % 
Decline 
GROWTH 
www.SandRidgeEnergy.com 5
8 
Q2’14 – CONTINUED STRONG WELL RESULTS RESULTS 
Focus and Innovation Yield Exceptional 
Operating Results in the Second Quarter 
Mississippian Success 
• 412 Boe/d 30-day IP, 122 laterals (30% above type curve) 
• 7 laterals over 1,000 Boe/d in 4 counties 
• Garfield County net production ramped 400% to 5,000 Boe/d in 1H’14 
– 407 Boe/d 30-day IP (54% oil), 21 wells 
– 7 rig program through YE’14 
Chester Success 
• 365 Boe/d 30-day IP (69% oil), 9 wells 
– 3 rig program through YE’14 
Woodford Success 
• 360 Boe/d 30-day IP (84% oil) 
– New geologic model, second well completing in Q3’14 
www.SandRidgeEnergy.com 6
9 
• Record low Q2’14 Drilling and Completion (D&C) lateral costs of $2.85 MM 
– +$1 MM decrease in capital since Q1 2012 
– 97% Electric Submersible Pump (ESP) implementation rate in Q2’14 
• Primary D&C cost saving in 2014 linked to innovation championed by SD teams: 
– Pad drilling: 80% of Q2’14 wells drilled from multi-well pads 
– Multilateral drilling: Stacked and Co-planar Dual Laterals, Trilaterals and 
Full Section Development 
– Wellsite facilities design improvements: 
– Centralized tank batteries 
– Commingled tank batteries 
– Centralized Salt Water Disposal (SWD) systems 
• Record low LOE at $6.69 per Boe 
FOCUSED 
MATERIAL WELL COST AND LOE REDUCTION 
Mississippian Leader 
$2.85MM /Well 
$6.69 /boe 
www.SandRidgeEnergy.com 7
10 
TARGETING BREAKOUT ECONOMICS 
Ahead of Schedule, Reducing Well Costs INNOVATION 
• Already strong well economics improving as costs 
come down 
• Breakout innovations on well design could both: 
– Enhance returns 
– Expand focus areas 
• Value enhancing projects in motion 
– Completion techniques 
– Sectional development 
– Shared facilities 
– Artificial lift management system 
• Expand competitive advantages 
− Salt water disposal 
− Electrical distribution system 
• Multi-zone appraisal program 
* 
* 8/1/2014 STRIP 
www.SandRidgeEnergy.com 8
11 
2014 MISSISSIPPIAN PUD TYPE CURVE 
Actual Performance Consistently Above Type Curve FOCUSED 
200 
180 
160 
140 
120 
100 
80 
60 
40 
20 
- 
0 1 2 3 4 5 6 7 8 9 10 
www.SandRidgeEnergy.com 9 
350 
300 
250 
200 
150 
100 
50 
- 
Cumulative Production (Mboe) 
Avg. Boe/d 
Years 
Type Curve Daily Avg. Rate Type Curve Cum Production PDPs 
GAS: 1.2 Bcf 
30 Day IP(b) (Mcf/day) 
1st Year Decline(a) 
B Factor 
848 
65% 
1.83 
NGL: 64 MBbls 
Yield (Bbls/MMcf) 
Shrink 
47.5 
87.3% 
Oil: 118 MBo 
30 Day IP (Bo/day) 
1st Year Decline(a) 
B Factor 
176 
80% 
1.41
12 
MISSISSIPPIAN WELL PERFORMANCE 
Continued Improvement 
Type Curve 
176 Bbl/d 
MULTI-YEAR 
GROWTH 
www.SandRidgeEnergy.com 10 
Type Curve 
849 Mcf/d
13 
MISSISSIPPIAN WELL EURS 
Continued Improvement 
MULTI-YEAR 
GROWTH 
www.SandRidgeEnergy.com 11 
20% 
18% 
16% 
14% 
12% 
10% 
8% 
6% 
4% 
2% 
0% 
% of Wells 
1 EURs are as of Year-End 2013 
2 EURs are per the Company’s estimates as of Mid-Year 2014 
EUR (MBoe) 
COMMERCIAL 
1 2 
1 
Wells Prior to 2013 2013 Wells 2014 Wells
14 
MID‐CONTINENT FOCUS AREA 
Deep Understanding of the Play FOCUSED 
100 MILES SD LEASEHOLD 
www.SandRidgeEnergy.com 12 
• Shallowest Decline Profile 
• Higher EUR Distribution 
• Geology Most 
Understood 
• Stacked Pay Potential 
• Highest 30 Day Gas IPs 
• Low H2O Cut 
• Upside as Gas Prices Rise 
• Chester Delivering Above 
TC Oil Rates 
• Multi Laterals Decreasing 
per Lateral CAPEX 
• High Density Fracs 
Potentially Impactful 
• 3D Required to Define Fracture Trends 
• Positive Multi Lateral Results 
• Highest 30 Day Oil IPs 
• Highest Liquids % 
• Lowest H2O Cut 
• Improving EURs with Time 
• Dual Laterals Exceeding TC 
~650,000 Acres in Focus Area 
• Miss Exhibiting Tightest 
Performance Distribution 
• Unlocked Woodford Potential 
• Potential for Extensive Multi 
Lateral Development
15 
FOCUSED 
MULTI‐ZONE DRILLING LOCATIONS 
Many Years of Drilling Ahead 
Upper Miss 
HZ Wells to Sales 849 
Locations 2,668 
Marmaton 
HZ Wells to Sales 1 
Locations TBD 
Chester 
HZ Wells to Sales 5 
Locations 180 
Middle Miss 
HZ Wells to Sales 143 
Locations 857 
Lower Miss 
HZ Wells to Sales 25 
Locations 319 
Woodford 
HZ Wells to Sales 5 
Locations 486 
High-Graded Locations to Drill 4,510 wells 
Emerging Un-Risked Locations >8,000 wells development 
www.SandRidgeEnergy.com 13 
Note: Drilling location information as of 03/04/14
16 
APPLYING SEISMIC TECHNOLOGY 
Understanding The Rock INNOVATION 
KS 
OK 
COMPLETED PLANNED SD LEASEHOLD 
100 MILES 
www.SandRidgeEnergy.com 14 
2013 - 730 square miles of 3D data acquired 
2014- 1,070 square miles of new 3D data to acquire 
2015 - 800 square miles of new 3d data to acquire 
Parallel 
fault trend 
Main fault 
trend
17 
MULTILATERAL APPROACH IS SUCCESSFUL 
Changing how carbonates are developed INNOVATION 
Achieving Breakthrough Cost Upsides with Production Uplift 
• Multilateral success achieved on three dual stacked laterals and one co-planar 
well in Grant, Alfalfa, and Harper counties during Q2’14 
www.SandRidgeEnergy.com 
• Four wells averaged $2.5 million per lateral 
– 83% of type curve cost 
– 108% of the type curve 30-day IP 
• Six rigs are currently planned to drill multilateral wells through the 
second half of the year 
• Broader sanction of multilaterals expected in 2015 
– 18% of 2H14 wells involve multilaterals (two or more laterals from a 
single vertical well) 
Dual Stacked Lateral 
Co-Planar Dual Lateral 
15
18 
INNOVATION / UPSIDE 
FSD offers up to 34% more section for 26% less 
capex 
Full Section Development 
• Fracture stimulates 34% more interval: 22,000’ vs typically 16,400’ with four single 
laterals 
• Rock integrity of our carbonates (vs shales or sandstones elsewhere) allows for 
effective use of open hole multilaterals 
• 130% IRR* to drill and complete a multilateral Full Section Development at 
$2.3MM per lateral vs 65% IRR* for a single lateral well at $2.9 MM 
• $3.2MM savings per square mile section ($9.1MM vs $12.3MM): 
INNOVATION 
Full Section Development 
(For Illustrative Purposes) 
www.SandRidgeEnergy.com 
Full Section Development D&C Cost Savings Detail $M 
Tank Battery, SWD, Powerline and Connection $ 1,350 
Intermediate 7" Casing and ESP Savings (One Each vs Four) $ 1,100 
Drilling Location, Rig Move and Reduced Drilling Days $ 1,000 
Rentals and Miscellaneous $ 350 
Incremental cost to frac an additional ~6000’ of interval $ (600) 
Total Savings $3,200 
* Strip as of 8/1/14 16
Most Efficient 
SWG Operator in 
the midcontinent 
– Various tubing sizes based 
produced water for ~80 years 
• Frac flowback is < 5% of total 
interconnected – maximizing 
system flexibility 
19 
SALTWATER GATHERING & DISPOSAL (SWG) UPSIDES 
• Produce 
– ~1 million barrels of water per day at mid 2014 from 1,300 
Mid-Continent producers 
• Gather & Process 
– Produced water is transported to disposal location through 
SD owned pipeline system 
– Typically Polyethylene pipe (8” to 12” diameter) connected 
to producing wells, buried under ground 
– Water is cleaned and treated at disposal location 
• Inject 
– + 170 disposal wells as of mid-2014, 
adding ~50 wells per year 
– Many take water on a vacuum (hydrostatic 
pressure is adequate to achieve disposal) 
• $590 MM invested by the end of 2014 
• Average capacity of 15,000 
BWPD per well 
– Low pressure pumps at 
most locations 
on needed capacity 
– Open hole Arbuckle 
completion 
• Pressure and volume 
continuously monitored 
• Arbuckle has been taking 
• Gathering system is 
www.SandRidgeEnergy.com 17 
Produced water gathered and sequestered into 
Arbuckle through cost effective infrastructure
20 
FINANCIAL STRENGTH 
• Contains Non-GAAP financial measures. Refer to slide 2 for additional disclosure. 
a) Leverage Ratio represents Consolidated Leverage Ratio calculated pursuant to the terms of the Senior Credit Facility 
b) Liquidity represents the quarter ending cash balance and revolver availability, adjusted for letters of credit 
FUNDED 
• Excellent cash and liquidity 
– $919MM cash at 6/30/14 
– Fully undrawn credit facility of $775 MM 
– Total liquidity of $1.7 Bln 
• Comfortable leverage 
– 3.2x Q2’14 leverage ratio 
– No near term bond maturities 
• Growing cash flow 
– Product of 20-25% CAGR production growth 
– Keeps leverage in check 
– Shrinks capex outspend of cash flow 
• Significant oil hedges at strong prices provide 
cash flow stability and visibility 
www.SandRidgeEnergy.com 18
21
2014 PRODUCTION GUIDANCE GUIDANCE 
www.SandRidgeEnergy.com 22 
(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) 
20
23 
CREDIT PROFILE 
• ~$1.7 Bln liquidity at Q2’14 
– $919MM cash 
– Fully undrawn credit facility of $775 MM 
• 3.2x Q2’14 leverage ratio 
• Borrowing base of $775MM undrawn; reserve 
value provides for significant increase potential 
• Significant oil hedges at strong prices provide 
cash flow stability and visibility 
• Contains Non-GAAP financial measures. Refer to slide 2 for additional disclosure. 
a) Leverage Ratio represents Consolidated Leverage Ratio calculated pursuant to the 
terms of the Senior Credit Facility 
b) Liquidity represents the quarter ending cash balance and revolver availability, 
adjusted for letters of credit 
APPENDIX 
www.SandRidgeEnergy.com 21
24 
CAPITAL STRUCTURE OVERVIEW APPENDIX 
Senior Notes Preferred Stock 
8.75% Sr Notes due 2020 $445 
7.5% Sr Notes due 2021 1,179 
8.125% Sr Notes due 2022 750 
7.5% Sr Notes due 2023 821 
Total $3,195 
($ in millions) 
8.5% Convertible Perpetual Preferred(a) $265 
6.0% Convertible Preferred(b) 200 
7.0% Convertible Perpetual Preferred(c) 300 
Total $765 
Credit Rating Corp Rating Outlook 
Credit Rating Corp Outlook 
Moody's B1 Stable 
S&P B Stable 
($ in millions) 
(d) 
(d) 
(a) Convertible at holder’s option at $8.0125 per common share; convertible after Feb 20, 2014 (b) Convertible at holder’s option at $10.856 per common share; automatic conversion after Dec 21, 2014 
(c) Convertible at holder’s option at $7.7645 per common share; convertible after Nov 20, 2015 (d) Weighted Average Maturity excludes Credit Facility amounts 
www.SandRidgeEnergy.com 22
25 
CONSOLIDATED HEDGE POSITION 
Q3 2014 ‐ 2016 
2014: 95% of Liquids Volumes Hedged 2015: 10.2 MMBBls Liquids volume hedged 
97% of liquids revenue hedged 
2.1 MMBbls 
$99.08/Bbl 
4.1 MMBbls 
$70.00 -$90.20 - 
$100.00/BBL 
5.6 MMBBLS 
$92.44/BBL 
4.6 MMBbls 
$76.47 -$90.28 -$103.48/BBL 
3-Way 
Collars 
SWAPS 64% 
UNHEDGED 
31% 
5% 
2014: 59% of natural gas volumes Hedged 
60% of gas revenue hedged 
24.8 BCF 
$4.28/MCF 
SWAPS UNHEDGED 
3-WAY 
COLLARS 
2015: 16.4 BCF natural gas volumes Hedged 
15.4 BCF 
$4.50/MCF 
SWAPS 
58% 
UNHEDGED 
41% 
Collars 1% 
0.5 BCF 
$4.00-$7.78/MCF 
Collars 
1.0 BCF 
$4.00-$8.55/MCF 
SWAPS UNHEDGED 
HEDGING 
2016: 1.8 MMBBLS Liquids volume hedged 
2016: 0 BCF natural gas volumes Hedged 
• Positions displayed include royalty trusts and are displayed for July forward. Liquids hedged to NYMEX WTI; Natural Gas hedged to NYMEX Henry Hub; NGL barrels hedged at 
3:1 ratio to WTI. 3-way collar and revenue calculations assume $95/bbl WTI and $4.25/Mcf NYMEX gas in 2014 and $90/bbl WTI and $4.25/Mcf NYMEX gas in 2015 and 2016. 
UNHEDGED 
UNHEDGED 
3-Way Collars 
1.8 MMBbls 
$84.40 -$90.00 -$103.50/BBL 
www.SandRidgeEnergy.com 23
26 
2013 RESERVE METRICS 
Focused On The Mississippian Play APPENDIX 
RESERVES PV10 
Pro Forma 2013 Excluding Gulf of Mexico Proved Reserves* 
SEC Pricing - $93.42 / $3.67 
Liquids 
MMBbls 
Gas 
Bcf 
Equivalent 
MMBoe 
% $MM % 
Reserves by Reservoir Status 
PDP - Producing 88 708 206 55% $ 2,441 59% 
PNP - Non Producing 9 57 19 5% 283 7% 
PBP - Behind Pipe 1 74 14 4% 73 2% 
PUD - Undeveloped 74 384 138 37% 1,306 32% 
Total 173 1,223 377 $ 4,103 
Reserves by Development 
Total Developed 98 839 238 63% 2,797 68% 
Total Undeveloped 74 384 138 37% 1,306 32% 
Total 173 1,223 377 $ 4,103 
434% Reserve Replacement 
63% Proved Developed 
25% Reserve Growth 
$10.19 Organic Drilling F&D 
$11.72 All-In F&D 
16.7 Years of R/P Life 
* Adjusted for Permian & Gulf of Mexico divestitures 
• Includes non-controlling royalty trust interests 
www.SandRidgeEnergy.com 24
27 
2014 MISSISSIPPIAN PUD TYPE CURVE 
380 MBoe, 48% Liquids FOCUSED 
200 
180 
160 
140 
120 
100 
80 
60 
40 
20 
- 
350 
300 
250 
200 
150 
100 
50 
- 
Cumulative Production (Mboe) 
Avg. Boe/d 
Type Curve EUR YE2013 
Oil (Mbo) 118 
NGLs (MBbls) 64 
Liquids (MBbls) 182 
Gas - Shrunk (MMcf) 1,185 
MBoe 380 
Mcf Shrink 87.3% 
NGL Yield (Bbls/MMcf) 47.5 
0 1 2 3 4 5 6 7 8 9 10 
Years 
Type Curve Daily Avg. Rate Type Curve Cum Production 
GAS: 1.2 Bcf 
30 Day IP(b) (Mcf/day) 
1st Year Decline(a) 
B Factor 
848 
65% 
1.83 
NGL: 64 MBbls 
Yield (Bbls/MMcf) 
Shrink 
47.5 
87.3% 
Oil: 118 MBo 
30 Day IP (Bo/day) 
1st Year Decline(a) 
B Factor 
176 
80% 
1.41 
a) Represents decline from month 1 to month 13 
b) Wet gas, wellhead volumes 
www.SandRidgeEnergy.com 25
28 
2014 OPERATIONAL GUIDANCE UPDATE 
PRODUCTION 
Oil (MMBbls) 10.7 - 11.3 
Natural Gas Liquids (MMBbls) 3.5 - 3.6 
Total Liquids (MMBbls) 14.2 - 14.9 
Natural Gas (Bcf) 82.6 - 84.6 
Total (MMBoe) 28.0 - 29.0 
CAPITAL EXPENDITURES ($ in millions) 
Exploration and Production $1,230 
Land and Seismic 120 
Total Exploration and Production $1,350 
Oil Field Services 15 
Electrical/Midstream 60 
General Corporate 50 
Total Capital Expenditures (excl. A&D) $1,475 
EBITDA from Oilfield Services 
and Other ($MM) (a) $30 
Adjusted Net Income 
Attributable to NCI ($MM) (b) $110 
Adjusted EBITDA 
Attributable to NCI ($MM) (c) $145 
PRICE REALIZATIONS 
Oil (differential below WTI) $2.75 
NGLs (realized % of WTI) 36% 
Gas (differential below Henry Hub) $0.75 
COSTS PER BOE 
Lifting $11.15 - $13.15 
Production Taxes 1.15 - 1.35 
DD&A – oil & gas 15.00 - 17.00 
DD&A – other 2.20 - 2.40 
Total DD&A $17.20 - $19.40 
G&A – cash 3.60 - 4.00 
G&A – stock 0.65 - 0.80 
Total G&A $4.25 - $4.80 
Corporate Tax Rate 0% 
Deferral Rate 0% 
APPENDIX 
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 depreciation, depletion 
and amortization. The most directly comparable GAAP 
measure for EBITDA from Oilfield Services and Other is 
Net Income from Oilfield Services and Other. Information 
to reconcile this non-GAAP financial measure to the most 
directly comparable GAAP financial measure is not 
available at this time, as management is unable to 
forecast the excluded items for future periods and/or 
does not forecast the excluded items on a segment basis 
b) Adjusted Net Income Attributable to Noncontrolling 
Interest is a non-GAAP financial measure as it excludes 
gain or loss due to changes in fair value of derivative 
contracts and gain or loss on sale of assets. The most 
directly comparable GAAP measure for Adjusted Net 
Income Attributable to Noncontrolling Interest is Net 
Income Attributable to Noncontrolling Interest. 
Information to reconcile this non-GAAP financial measure 
to the most directly comparable GAAP financial measure 
is not available at this time, as management is unable to 
forecast the excluded items for future periods 
c) Adjusted EBITDA Attributable to Noncontrolling Interest 
is a non-GAAP financial measure as it excludes from net 
income interest expense, income tax expense and 
depreciation, depletion and amortization, gain or loss due 
to changes in fair value of derivative contracts and gain or 
loss on sale of assets. The most directly comparable 
GAAP measure for Adjusted EBITDA Attributable to 
Noncontrolling Interest is Net Income Attributable to 
Noncontrolling Interest. Information to reconcile this non- 
GAAP financial measure to the most directly comparable 
GAAP financial measure is not available at this time, as 
management is unable to forecast the excluded items for 
future periods 
Introducing a guidance range of 28 – 29 MMBoe or 
19 – 23% pro forma production growth for 2014 
www.SandRidgeEnergy.com 26
29 
WELL COUNTS GROSS NET 
Mid-Continent/Mississippian Focus 
460 331 
Area 
Mid-Continent SWD 50 37 
Permian 180 176 
2014 CAPEX GUIDANCE 
($ in millions) 
MID-CONTINENT/MISSISSIPPIAN D&C 
Focus Area $985 
Appraisal 55 
SWD Wells 60 
Total Mid-Continent/Mississippian D&C $1,100 
OTHER MID-CONTINENT/MISSISSIPPIAN 
SWD Pipeline/Infrastructure $59 
Workovers & Non-Op 89 
Land & Seismic 102 
Electrical/Midstream 50 
Total Other E&P $300 
Total Mid-Continent/Mississippian $1,400 
($ in millions) 
DRILLING AND COMPLETION (D&C) 
Mid-Continent/Mississippian $1,040 
Mid-Continent SWD Wells 60 
Permian 110 
Gulf of Mexico / Gulf Coast 10 
JV Carry (205) 
Total D&C $1,015 
OTHER E&P 
SWD Pipeline/Infrastructure $71 
Workovers & Non-Op 94 
Land & Seismic 120 
Capitalized G&A and Interest 50 
Total Other E&P $335 
E&P Capital Expenditures $1,350 
NON-E&P 
Drilling & Oil Field Services $15 
Electrical/Midstream 60 
General Corporate 50 
Total Non-E&P $125 
Total $1,475 
APPENDIX 
www.SandRidgeEnergy.com 27
30 
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

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Barclays CEO Energy Conference

  • 2. 2 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 and are generally accompanied by words that convey projected future events or outcomes. The forward-looking statements include statements about the company’s future operations, rig counts, drilling inventory and locations, acreage positions, corporate strategies, including the exploration and development of the Midcontinent and potential monetization of saltwater disposal infrastructure, generating high rates of return from quality assets in our focus areas, estimates of oil and natural gas production, projected capital expenditures and other costs, liquidity and leverage, debt maturities, price realizations, projected earnings, and hedging strategies. We have based these forward-looking statements on our current expectations and assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks and uncertainties, including the volatility of oil and natural gas prices, our success in discovering, estimating, and developing oil and natural gas reserves, the availability and terms of capital, our timely execution of hedge transactions, credit conditions of global capital markets, changes in economic conditions, regulatory changes and other factors, many of which are beyond our control. We refer you to the discussion of risk factors in Part I, Item 1A – “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2013 and in comparable “Risk Factors” sections of our Quarterly Reports on Form 10-Q filed after the date of this presentation. All of the forward-looking statements made in this presentation are qualified by these cautionary statements. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on our company or our business or operations. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. We undertake no obligation to update or revise any forward-looking statements. The SEC permits oil and natural gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves, as each is defined by the SEC. At times we use the term "EUR" (estimated ultimate recovery) and refer to their location and potential to provide estimates that the SEC’s guidelines prohibit us from including in filings with the SEC. These estimates are by their nature more speculative than estimates of proved, probable or possible reserves and, accordingly, are subject to substantially greater risk of being actually realized by the company. For a discussion of the company’s proved reserves, as calculated under current SEC rules, we refer you to the company’s Annual Report on Form 10-K referenced above, which is available on our website at www.sandridgeenergy.com and at the SEC’s website at www.sec.gov. Regulation G Disclosure: This presentation includes certain non-GAAP financial measures as defined under SEC Regulation G. A reconciliation of those measures to the most directly comparable GAAP measures is available on our website at www.sandridgeenergy.com.
  • 3. 3 SANDRIDGE MISSION Premier Mid‐Continent Company MISSION STATEMENT Our Mission at SandRidge is to create the premier, high-return, growth-oriented, resource conversion company, focused in the Mid-Continent region of the United States. 1
  • 4. a) Non-GAAP financial measure. Refer to the Disclaimer slide for additional 4 disclosure b) Pro Forma for the Q1’14 Gulf of Mexico divestiture c) SandRidge consolidated reserves as of YE2013 including royalty trusts d) Based on YE13 SEC pricing ($93.42/$3.67) SANDRIDGE COMPANY OVERVIEW MARKET VALUE ($ in millions) Market Cap (08/29/2014) $2,590 Net Debt(a) 2,276 Preferred Stock 765 Enterprise Value $5,370 ASSET OVERVIEW(b)(c) Q2’14 Production (MBoe/d) 69.8 Proved Reserves (MMBoe) 377 % Reserves as Liquids 46% YE13 PV10 Value ($Bln)(d) $4.1 • Rig counts are projected averages for 2014 www.SandRidgeEnergy.com 2 SD Quick Facts • Fractured Carbonate Focus • Mid-Continent, Horizontal Mississippian Leader • Sub-$3.0MM/well, 380 MBoe EUR • Stacked Pay Development • $1.5Bln Capex Plan • $919MM Cash at Q2’14
  • 5. 5 INVESTMENT THESIS 3 20+% Production Growth, 30+% EBITDA Growth & Flattish Capex • Growth program continues to improve – New zones (Chester, Woodford), New areas (Garfield) – Better than type curve results • Base assets performing well – Consistent decline ratios, GOR and EURs • Approximate doubling of production in three years • Operating leverage yields higher EBITDA growth • Outspend shrinks year over year • Plus infrastructure, new zone, and expanding footprint upsides • Excess liquidity and no bond maturities until 2020 • Pursuing unlock of infrastructure value Refined Business Model FOCUSED Strategy, Execution and Culture are Focused COMPETITIVE ADVANTAGE Established Infrastructure, Sizable Leasehold and Vast Knowledge Base ACTIONABLE GROWTH Confidence in the Drilling Inventory and Asset Quality INNOVATION Team Mindset of Continuous Improvement UPSIDES Multi-zones, Appraisal Areas and SWD Business FUNDED Excellent Liquidity, Leverage, and Visible Funding into Future www.SandRidgeEnergy.com
  • 6. * STRIP 8/1/2014 6 ACTIONABLE GROWTH WITH UPSIDES 20+% Production Growth, 30+% EBITDA Growth & Flattish Capex Stacked Oily Pay Zones Significant Acreage Position FOCUSED * Improving Already Strong Returns www.SandRidgeEnergy.com 4
  • 7. ACTIONABLE • Confident in multi-year drilling program • Existing focus area position provides >4,500 locations • PDP base decline is flattening • Assumes average capital expenditure program of ~$1.55 Bln • Well cost improvements from $3.0 to $2.7 MM 7 MULTI‐YEAR PRODUCTION GROWTH Confidence in Asset Base and Execution 2016 Activity 15 % Decline GROWTH www.SandRidgeEnergy.com 5
  • 8. 8 Q2’14 – CONTINUED STRONG WELL RESULTS RESULTS Focus and Innovation Yield Exceptional Operating Results in the Second Quarter Mississippian Success • 412 Boe/d 30-day IP, 122 laterals (30% above type curve) • 7 laterals over 1,000 Boe/d in 4 counties • Garfield County net production ramped 400% to 5,000 Boe/d in 1H’14 – 407 Boe/d 30-day IP (54% oil), 21 wells – 7 rig program through YE’14 Chester Success • 365 Boe/d 30-day IP (69% oil), 9 wells – 3 rig program through YE’14 Woodford Success • 360 Boe/d 30-day IP (84% oil) – New geologic model, second well completing in Q3’14 www.SandRidgeEnergy.com 6
  • 9. 9 • Record low Q2’14 Drilling and Completion (D&C) lateral costs of $2.85 MM – +$1 MM decrease in capital since Q1 2012 – 97% Electric Submersible Pump (ESP) implementation rate in Q2’14 • Primary D&C cost saving in 2014 linked to innovation championed by SD teams: – Pad drilling: 80% of Q2’14 wells drilled from multi-well pads – Multilateral drilling: Stacked and Co-planar Dual Laterals, Trilaterals and Full Section Development – Wellsite facilities design improvements: – Centralized tank batteries – Commingled tank batteries – Centralized Salt Water Disposal (SWD) systems • Record low LOE at $6.69 per Boe FOCUSED MATERIAL WELL COST AND LOE REDUCTION Mississippian Leader $2.85MM /Well $6.69 /boe www.SandRidgeEnergy.com 7
  • 10. 10 TARGETING BREAKOUT ECONOMICS Ahead of Schedule, Reducing Well Costs INNOVATION • Already strong well economics improving as costs come down • Breakout innovations on well design could both: – Enhance returns – Expand focus areas • Value enhancing projects in motion – Completion techniques – Sectional development – Shared facilities – Artificial lift management system • Expand competitive advantages − Salt water disposal − Electrical distribution system • Multi-zone appraisal program * * 8/1/2014 STRIP www.SandRidgeEnergy.com 8
  • 11. 11 2014 MISSISSIPPIAN PUD TYPE CURVE Actual Performance Consistently Above Type Curve FOCUSED 200 180 160 140 120 100 80 60 40 20 - 0 1 2 3 4 5 6 7 8 9 10 www.SandRidgeEnergy.com 9 350 300 250 200 150 100 50 - Cumulative Production (Mboe) Avg. Boe/d Years Type Curve Daily Avg. Rate Type Curve Cum Production PDPs GAS: 1.2 Bcf 30 Day IP(b) (Mcf/day) 1st Year Decline(a) B Factor 848 65% 1.83 NGL: 64 MBbls Yield (Bbls/MMcf) Shrink 47.5 87.3% Oil: 118 MBo 30 Day IP (Bo/day) 1st Year Decline(a) B Factor 176 80% 1.41
  • 12. 12 MISSISSIPPIAN WELL PERFORMANCE Continued Improvement Type Curve 176 Bbl/d MULTI-YEAR GROWTH www.SandRidgeEnergy.com 10 Type Curve 849 Mcf/d
  • 13. 13 MISSISSIPPIAN WELL EURS Continued Improvement MULTI-YEAR GROWTH www.SandRidgeEnergy.com 11 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% % of Wells 1 EURs are as of Year-End 2013 2 EURs are per the Company’s estimates as of Mid-Year 2014 EUR (MBoe) COMMERCIAL 1 2 1 Wells Prior to 2013 2013 Wells 2014 Wells
  • 14. 14 MID‐CONTINENT FOCUS AREA Deep Understanding of the Play FOCUSED 100 MILES SD LEASEHOLD www.SandRidgeEnergy.com 12 • Shallowest Decline Profile • Higher EUR Distribution • Geology Most Understood • Stacked Pay Potential • Highest 30 Day Gas IPs • Low H2O Cut • Upside as Gas Prices Rise • Chester Delivering Above TC Oil Rates • Multi Laterals Decreasing per Lateral CAPEX • High Density Fracs Potentially Impactful • 3D Required to Define Fracture Trends • Positive Multi Lateral Results • Highest 30 Day Oil IPs • Highest Liquids % • Lowest H2O Cut • Improving EURs with Time • Dual Laterals Exceeding TC ~650,000 Acres in Focus Area • Miss Exhibiting Tightest Performance Distribution • Unlocked Woodford Potential • Potential for Extensive Multi Lateral Development
  • 15. 15 FOCUSED MULTI‐ZONE DRILLING LOCATIONS Many Years of Drilling Ahead Upper Miss HZ Wells to Sales 849 Locations 2,668 Marmaton HZ Wells to Sales 1 Locations TBD Chester HZ Wells to Sales 5 Locations 180 Middle Miss HZ Wells to Sales 143 Locations 857 Lower Miss HZ Wells to Sales 25 Locations 319 Woodford HZ Wells to Sales 5 Locations 486 High-Graded Locations to Drill 4,510 wells Emerging Un-Risked Locations >8,000 wells development www.SandRidgeEnergy.com 13 Note: Drilling location information as of 03/04/14
  • 16. 16 APPLYING SEISMIC TECHNOLOGY Understanding The Rock INNOVATION KS OK COMPLETED PLANNED SD LEASEHOLD 100 MILES www.SandRidgeEnergy.com 14 2013 - 730 square miles of 3D data acquired 2014- 1,070 square miles of new 3D data to acquire 2015 - 800 square miles of new 3d data to acquire Parallel fault trend Main fault trend
  • 17. 17 MULTILATERAL APPROACH IS SUCCESSFUL Changing how carbonates are developed INNOVATION Achieving Breakthrough Cost Upsides with Production Uplift • Multilateral success achieved on three dual stacked laterals and one co-planar well in Grant, Alfalfa, and Harper counties during Q2’14 www.SandRidgeEnergy.com • Four wells averaged $2.5 million per lateral – 83% of type curve cost – 108% of the type curve 30-day IP • Six rigs are currently planned to drill multilateral wells through the second half of the year • Broader sanction of multilaterals expected in 2015 – 18% of 2H14 wells involve multilaterals (two or more laterals from a single vertical well) Dual Stacked Lateral Co-Planar Dual Lateral 15
  • 18. 18 INNOVATION / UPSIDE FSD offers up to 34% more section for 26% less capex Full Section Development • Fracture stimulates 34% more interval: 22,000’ vs typically 16,400’ with four single laterals • Rock integrity of our carbonates (vs shales or sandstones elsewhere) allows for effective use of open hole multilaterals • 130% IRR* to drill and complete a multilateral Full Section Development at $2.3MM per lateral vs 65% IRR* for a single lateral well at $2.9 MM • $3.2MM savings per square mile section ($9.1MM vs $12.3MM): INNOVATION Full Section Development (For Illustrative Purposes) www.SandRidgeEnergy.com Full Section Development D&C Cost Savings Detail $M Tank Battery, SWD, Powerline and Connection $ 1,350 Intermediate 7" Casing and ESP Savings (One Each vs Four) $ 1,100 Drilling Location, Rig Move and Reduced Drilling Days $ 1,000 Rentals and Miscellaneous $ 350 Incremental cost to frac an additional ~6000’ of interval $ (600) Total Savings $3,200 * Strip as of 8/1/14 16
  • 19. Most Efficient SWG Operator in the midcontinent – Various tubing sizes based produced water for ~80 years • Frac flowback is < 5% of total interconnected – maximizing system flexibility 19 SALTWATER GATHERING & DISPOSAL (SWG) UPSIDES • Produce – ~1 million barrels of water per day at mid 2014 from 1,300 Mid-Continent producers • Gather & Process – Produced water is transported to disposal location through SD owned pipeline system – Typically Polyethylene pipe (8” to 12” diameter) connected to producing wells, buried under ground – Water is cleaned and treated at disposal location • Inject – + 170 disposal wells as of mid-2014, adding ~50 wells per year – Many take water on a vacuum (hydrostatic pressure is adequate to achieve disposal) • $590 MM invested by the end of 2014 • Average capacity of 15,000 BWPD per well – Low pressure pumps at most locations on needed capacity – Open hole Arbuckle completion • Pressure and volume continuously monitored • Arbuckle has been taking • Gathering system is www.SandRidgeEnergy.com 17 Produced water gathered and sequestered into Arbuckle through cost effective infrastructure
  • 20. 20 FINANCIAL STRENGTH • Contains Non-GAAP financial measures. Refer to slide 2 for additional disclosure. a) Leverage Ratio represents Consolidated Leverage Ratio calculated pursuant to the terms of the Senior Credit Facility b) Liquidity represents the quarter ending cash balance and revolver availability, adjusted for letters of credit FUNDED • Excellent cash and liquidity – $919MM cash at 6/30/14 – Fully undrawn credit facility of $775 MM – Total liquidity of $1.7 Bln • Comfortable leverage – 3.2x Q2’14 leverage ratio – No near term bond maturities • Growing cash flow – Product of 20-25% CAGR production growth – Keeps leverage in check – Shrinks capex outspend of cash flow • Significant oil hedges at strong prices provide cash flow stability and visibility www.SandRidgeEnergy.com 18
  • 21. 21
  • 22. 2014 PRODUCTION GUIDANCE GUIDANCE www.SandRidgeEnergy.com 22 (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) 20
  • 23. 23 CREDIT PROFILE • ~$1.7 Bln liquidity at Q2’14 – $919MM cash – Fully undrawn credit facility of $775 MM • 3.2x Q2’14 leverage ratio • Borrowing base of $775MM undrawn; reserve value provides for significant increase potential • Significant oil hedges at strong prices provide cash flow stability and visibility • Contains Non-GAAP financial measures. Refer to slide 2 for additional disclosure. a) Leverage Ratio represents Consolidated Leverage Ratio calculated pursuant to the terms of the Senior Credit Facility b) Liquidity represents the quarter ending cash balance and revolver availability, adjusted for letters of credit APPENDIX www.SandRidgeEnergy.com 21
  • 24. 24 CAPITAL STRUCTURE OVERVIEW APPENDIX Senior Notes Preferred Stock 8.75% Sr Notes due 2020 $445 7.5% Sr Notes due 2021 1,179 8.125% Sr Notes due 2022 750 7.5% Sr Notes due 2023 821 Total $3,195 ($ in millions) 8.5% Convertible Perpetual Preferred(a) $265 6.0% Convertible Preferred(b) 200 7.0% Convertible Perpetual Preferred(c) 300 Total $765 Credit Rating Corp Rating Outlook Credit Rating Corp Outlook Moody's B1 Stable S&P B Stable ($ in millions) (d) (d) (a) Convertible at holder’s option at $8.0125 per common share; convertible after Feb 20, 2014 (b) Convertible at holder’s option at $10.856 per common share; automatic conversion after Dec 21, 2014 (c) Convertible at holder’s option at $7.7645 per common share; convertible after Nov 20, 2015 (d) Weighted Average Maturity excludes Credit Facility amounts www.SandRidgeEnergy.com 22
  • 25. 25 CONSOLIDATED HEDGE POSITION Q3 2014 ‐ 2016 2014: 95% of Liquids Volumes Hedged 2015: 10.2 MMBBls Liquids volume hedged 97% of liquids revenue hedged 2.1 MMBbls $99.08/Bbl 4.1 MMBbls $70.00 -$90.20 - $100.00/BBL 5.6 MMBBLS $92.44/BBL 4.6 MMBbls $76.47 -$90.28 -$103.48/BBL 3-Way Collars SWAPS 64% UNHEDGED 31% 5% 2014: 59% of natural gas volumes Hedged 60% of gas revenue hedged 24.8 BCF $4.28/MCF SWAPS UNHEDGED 3-WAY COLLARS 2015: 16.4 BCF natural gas volumes Hedged 15.4 BCF $4.50/MCF SWAPS 58% UNHEDGED 41% Collars 1% 0.5 BCF $4.00-$7.78/MCF Collars 1.0 BCF $4.00-$8.55/MCF SWAPS UNHEDGED HEDGING 2016: 1.8 MMBBLS Liquids volume hedged 2016: 0 BCF natural gas volumes Hedged • Positions displayed include royalty trusts and are displayed for July forward. Liquids hedged to NYMEX WTI; Natural Gas hedged to NYMEX Henry Hub; NGL barrels hedged at 3:1 ratio to WTI. 3-way collar and revenue calculations assume $95/bbl WTI and $4.25/Mcf NYMEX gas in 2014 and $90/bbl WTI and $4.25/Mcf NYMEX gas in 2015 and 2016. UNHEDGED UNHEDGED 3-Way Collars 1.8 MMBbls $84.40 -$90.00 -$103.50/BBL www.SandRidgeEnergy.com 23
  • 26. 26 2013 RESERVE METRICS Focused On The Mississippian Play APPENDIX RESERVES PV10 Pro Forma 2013 Excluding Gulf of Mexico Proved Reserves* SEC Pricing - $93.42 / $3.67 Liquids MMBbls Gas Bcf Equivalent MMBoe % $MM % Reserves by Reservoir Status PDP - Producing 88 708 206 55% $ 2,441 59% PNP - Non Producing 9 57 19 5% 283 7% PBP - Behind Pipe 1 74 14 4% 73 2% PUD - Undeveloped 74 384 138 37% 1,306 32% Total 173 1,223 377 $ 4,103 Reserves by Development Total Developed 98 839 238 63% 2,797 68% Total Undeveloped 74 384 138 37% 1,306 32% Total 173 1,223 377 $ 4,103 434% Reserve Replacement 63% Proved Developed 25% Reserve Growth $10.19 Organic Drilling F&D $11.72 All-In F&D 16.7 Years of R/P Life * Adjusted for Permian & Gulf of Mexico divestitures • Includes non-controlling royalty trust interests www.SandRidgeEnergy.com 24
  • 27. 27 2014 MISSISSIPPIAN PUD TYPE CURVE 380 MBoe, 48% Liquids FOCUSED 200 180 160 140 120 100 80 60 40 20 - 350 300 250 200 150 100 50 - Cumulative Production (Mboe) Avg. Boe/d Type Curve EUR YE2013 Oil (Mbo) 118 NGLs (MBbls) 64 Liquids (MBbls) 182 Gas - Shrunk (MMcf) 1,185 MBoe 380 Mcf Shrink 87.3% NGL Yield (Bbls/MMcf) 47.5 0 1 2 3 4 5 6 7 8 9 10 Years Type Curve Daily Avg. Rate Type Curve Cum Production GAS: 1.2 Bcf 30 Day IP(b) (Mcf/day) 1st Year Decline(a) B Factor 848 65% 1.83 NGL: 64 MBbls Yield (Bbls/MMcf) Shrink 47.5 87.3% Oil: 118 MBo 30 Day IP (Bo/day) 1st Year Decline(a) B Factor 176 80% 1.41 a) Represents decline from month 1 to month 13 b) Wet gas, wellhead volumes www.SandRidgeEnergy.com 25
  • 28. 28 2014 OPERATIONAL GUIDANCE UPDATE PRODUCTION Oil (MMBbls) 10.7 - 11.3 Natural Gas Liquids (MMBbls) 3.5 - 3.6 Total Liquids (MMBbls) 14.2 - 14.9 Natural Gas (Bcf) 82.6 - 84.6 Total (MMBoe) 28.0 - 29.0 CAPITAL EXPENDITURES ($ in millions) Exploration and Production $1,230 Land and Seismic 120 Total Exploration and Production $1,350 Oil Field Services 15 Electrical/Midstream 60 General Corporate 50 Total Capital Expenditures (excl. A&D) $1,475 EBITDA from Oilfield Services and Other ($MM) (a) $30 Adjusted Net Income Attributable to NCI ($MM) (b) $110 Adjusted EBITDA Attributable to NCI ($MM) (c) $145 PRICE REALIZATIONS Oil (differential below WTI) $2.75 NGLs (realized % of WTI) 36% Gas (differential below Henry Hub) $0.75 COSTS PER BOE Lifting $11.15 - $13.15 Production Taxes 1.15 - 1.35 DD&A – oil & gas 15.00 - 17.00 DD&A – other 2.20 - 2.40 Total DD&A $17.20 - $19.40 G&A – cash 3.60 - 4.00 G&A – stock 0.65 - 0.80 Total G&A $4.25 - $4.80 Corporate Tax Rate 0% Deferral Rate 0% APPENDIX 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 depreciation, depletion and amortization. The most directly comparable GAAP measure for EBITDA from Oilfield Services and Other is Net Income from Oilfield Services and Other. Information to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure is not available at this time, as management is unable to forecast the excluded items for future periods and/or does not forecast the excluded items on a segment basis b) Adjusted Net Income Attributable to Noncontrolling Interest is a non-GAAP financial measure as it excludes gain or loss due to changes in fair value of derivative contracts and gain or loss on sale of assets. The most directly comparable GAAP measure for Adjusted Net Income Attributable to Noncontrolling Interest is Net Income Attributable to Noncontrolling Interest. Information to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure is not available at this time, as management is unable to forecast the excluded items for future periods c) Adjusted EBITDA Attributable to Noncontrolling Interest is a non-GAAP financial measure as it excludes from net income interest expense, income tax expense and depreciation, depletion and amortization, gain or loss due to changes in fair value of derivative contracts and gain or loss on sale of assets. The most directly comparable GAAP measure for Adjusted EBITDA Attributable to Noncontrolling Interest is Net Income Attributable to Noncontrolling Interest. Information to reconcile this non- GAAP financial measure to the most directly comparable GAAP financial measure is not available at this time, as management is unable to forecast the excluded items for future periods Introducing a guidance range of 28 – 29 MMBoe or 19 – 23% pro forma production growth for 2014 www.SandRidgeEnergy.com 26
  • 29. 29 WELL COUNTS GROSS NET Mid-Continent/Mississippian Focus 460 331 Area Mid-Continent SWD 50 37 Permian 180 176 2014 CAPEX GUIDANCE ($ in millions) MID-CONTINENT/MISSISSIPPIAN D&C Focus Area $985 Appraisal 55 SWD Wells 60 Total Mid-Continent/Mississippian D&C $1,100 OTHER MID-CONTINENT/MISSISSIPPIAN SWD Pipeline/Infrastructure $59 Workovers & Non-Op 89 Land & Seismic 102 Electrical/Midstream 50 Total Other E&P $300 Total Mid-Continent/Mississippian $1,400 ($ in millions) DRILLING AND COMPLETION (D&C) Mid-Continent/Mississippian $1,040 Mid-Continent SWD Wells 60 Permian 110 Gulf of Mexico / Gulf Coast 10 JV Carry (205) Total D&C $1,015 OTHER E&P SWD Pipeline/Infrastructure $71 Workovers & Non-Op 94 Land & Seismic 120 Capitalized G&A and Interest 50 Total Other E&P $335 E&P Capital Expenditures $1,350 NON-E&P Drilling & Oil Field Services $15 Electrical/Midstream 60 General Corporate 50 Total Non-E&P $125 Total $1,475 APPENDIX www.SandRidgeEnergy.com 27
  • 30. 30 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