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SandRidge Energy Inc
Barclays Capital 2011 High Yield Conference
| James D. Bennett | Page 20 of 11 |
March 07, 2014
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"Barclays Capital 2011 High Yield Conference"
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Commodity Hedges 20 Hedges as of March 11 th , 2011 In addition to price swaps, SD has 3.2Bcf of natural gas collars in place for 2H 2012 through 2015, with a floor of $4.00/ Mcf and an average cap of $7.66/ Mcf 2011 Basis Swaps (WAHA and HSC): 104.03 Bcf at $0.47 2012 Basis Swaps (WAHA and HSC): 113.46 Bcf at $0.55 2013 Basis Swaps (WAHA and HSC): 14.6 Bcf at $0.46 www.SandRidgeEnergy.com Oil Hedges Gas Hedges 80% of 2011E production guidance hedged We feel comfortable hedging our out - year production given our ability to control our costs Hedging represents a prudent risk management tool and allows us to lock in high returns on oil projects