MIDSTATES PETROLEUM COMPANY, INC.

Transcription

1 MIDSTATES PETROLEUM COMPANY, INC. EnerCom s The Oil & Gas Conference 20 August 19, 2015 Mark E. Eck, EVP & Chief Operating Officer

2 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal Securities laws. All statements included in this presentation, other than statements of historical fact, regarding the Company s strategy, goals, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this presentation, the words could, believe, anticipate, intend, estimate, expect, may, continue, predict, potential, project, guidance, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Without limiting the generality of the foregoing, these statements are based on certain assumptions made by the Company based on management s experience, expectations and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Although the Company believes that its plans, intentions and expectations reflected in or suggested by the forward-looking statements made in this presentation are reasonable, the Company gives no assurance that actual future results will not differ materially from those forecasted in this presentation. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Each investor must assess and bear the risk of uncertainty inherent in the forward looking statements in this presentation. The Company discloses important factors that could cause its actual results to differ materially from its expectations in the Risk Factors and Management s Discussion and Analysis of Financial Condition and Results of Operations sections of the Company s Form 10-K for the year ended December 31, 2014, and Form 10-Q for the quarters ended June 30, 2015 and March 31, 2015, each filed with the Securities and Exchange Commission ( SEC ); and its other filings with the SEC. These factors include risks or liabilities assumed as a result of acquisitions, increases in our indebtedness, ability to complete any divestitures or other strategic transactions, ability to meet financial and operating guidance, ability to achieve production targets, successfully manage capital expenditures, and to complete and to test and produce the wells and prospects identified in this presentation; risks related to variations in the market demand for, and prices of, oil and natural gas; uncertainties related to commodity prices, uncertainties about the Company s estimated quantities of oil and natural gas reserves or potential locations; infrastructure for salt water disposal and electricity; the adequacy of the Company s capital resources and liquidity including, but not limited to, access to additional borrowing capacity under its revolving credit facility; general economic and business conditions; failure to realize expected value creation from property acquisitions; uncertainties about the Company s ability to replace reserves and economically develop its current reserves; risks related to the concentration of the Company s operations; drilling results; pending litigation; and potential financial losses or earnings reductions from the Company s commodity derivative positions. Accordingly, you should not place undue reliance on any of the Company s forward-looking statements. All forward-looking statements speak only as of the date on which such statements are made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. NYSE: MPO 2

3 Reserve and Non-GAAP Information This presentation also includes financial measures that are not in accordance with generally accepted accounting principles ( GAAP ), including Adjusted EBITDA and Cash Operating Expense. While management believes such measures are useful for investors because they allow for greater transparency with respect to key financial metrics, they should not be used as a replacement for financial measures that are in accordance with GAAP. The SEC permits oil and gas companies, in their filings with the SEC, to disclose proved reserves, which are those quantities of oil and gas, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation. SEC rules also permit the disclosure of probable and possible reserves. We disclose proved reserves but do not disclose probable or possible reserves. We may use certain broader terms such as EUR (as defined below) and other descriptions of volumes of potentially recoverable hydrocarbon resources throughout this presentation that the SEC does not permit to be included in SEC filings. These broader classifications do not constitute "reserves" as defined by the SEC, and we do not attempt to distinguish these classifications from probable or possible reserves as defined by SEC guidelines. We define EUR as the cumulative oil and gas production expected to be economically recovered from a reservoir or individual well from initial production until the end of its useful life. Our estimates of EURs and resource potential have been prepared internally by our engineers and management without review by independent engineers. These estimates are, by their nature, more speculative than estimates of proved, probable and possible reserves and accordingly are subject to substantially greater risk of being actually realized. We include these estimates to demonstrate what we believe to be the potential for future drilling and production by the Company. Actual locations drilled and quantities that may be ultimately recovered from our properties could differ substantially. In addition, we have made no commitment to drill all of the drilling locations which have been attributed to these quantities. Ultimate recoveries will be dependent upon numerous factors including actual encountered geological conditions, the impact of future oil and gas pricing, exploration and development costs, and future drilling decisions and budgets based upon our future evaluation of risk, returns and the availability of capital and, in many areas, the outcome of negotiation of drilling arrangements with holders of adjacent or fractional interest leases. Estimates of resource potential and other figures may change significantly as development of our properties provides additional data. Our forecast and expectations for future periods are dependent upon many assumptions, including estimates of production decline rates from existing wells, the undertaking and outcome of future drilling activity and activity that may be affected by significant commodity price declines or drilling cost increases. The Company s estimates of total proved reserves at December 31, 2014 are based on reports provided by Netherland, Sewell & Associates, Inc. and Cawley, Gillespie & Associates, Inc., independent petroleum engineers. NYSE: MPO 3

4 Key Highlights Reported Adjusted EBITDA (1) outpaced operational CAPEX by $37 million in first half of 2015 Adjusted EBITDA (1) outpaced operational CAPEX by $29 million in Q Reached year-end Miss Lime well cost goal of $3.3mm (2) Anticipate further reductions as we move throughout the remainder of the year Attained total Company production of 33,893 Boe/d in Q2 15 Record Miss Lime production of 27,029 Boe/d, up 2% from 26,531 Boe/d in Q1 15 Closed the sale of the DeQuincy properties in Louisiana for $42mm (3) on April 21, 2015 Executed a $625 million Second Lien note offering and approximately $525 million Third Lien note exchange Reported Liquidity at June 30, 2015 of $402mm Increased Full Year Production Guidance to 31,500 33,500 Boe/d (1) See reconciliation in appendix (2) Includes facilities cost (3) Approximate net proceeds, after customary closing adjustments 4

5 Midstates Petroleum Overview Completed transition to a Mid-Continent focused organization from an onshore Louisiana concentrated start-up Premier position in the Mississippian Lime and a substantial, multi-zone inventory of horizontal well locations in the Anadarko Basin 191,700 net acres in the Mid-Continent region, with minimal acreage expirations during the remainder of 2015 (4) Anadarko Basin Multi-zone inventory yielding strong Hz results 6,586 Boed net production (2) 12 MMBoe proved reserves (67% liquids) (3) 111,000 net acres ~1,300 potential locations 140 to 240 MMBoe net resource potential Mississippian Lime (1) Premier position in high-return core 27,029 Boed net production (2) 139 MMBoe proved reserves (58% liquids) 80,700 net acres ~1,500 potential locations 300 to 350 MMBoe net resource potential Over 2,800 total drilling locations in inventory Fleetwood Future value from exploration prospects to be initially funded by JV partner Midstates has a robust, strategically-located portfolio offering significant growth potential (1) Includes Hunton acreage and reserves (2) Q average production NYSE: MPO 5 (3) YE 2014 after (22 MMBoe) adjustment for final SEC reporting (4) Remaining 2015 potential expirations include ~400 net acres in the Miss Lime. Excludes Louisiana expirations

6 BOE/D $MM Demonstrated Performance 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000-9,999 Gulf Coast Miss 23,926 Gulf Coast Anadarko Miss Net Production 32,137 Gulf Coast Anadarko Miss 34,164 33,893 Gulf Coast Gulf Coast Anadarko Miss Anadarko Miss Q1'15 Q2'15 Production growth of 239% since 2012 Adjusted EBITDA outpaced Operating Capex by $29mm in Q guidance has targeted Adjusted EBITDA exceeding Operating Capex by $75-$100mm $180 $160 $140 $120 $100 $80 $60 $40 $20 $- $160 $160 Adjusted EBITDA (1) $343 $478 $99 $ E $135 $135 $141 $136 $120 $102 $119 $112 $122 $132 $112 Adjusted EBITDA $101 $99 $93 FY 2015E $ mm Balancing Operating Capex (2) with Adjusted EBITDA $70 $85 $60 OP CAPEX Q2 15 Q1 15 (1) See reconciliation in appendix NYSE: MPO (2) Operating Capex excludes capitalized interest and G&A, asset retirement obligations, office and other expenditures 6

7 Cash Operating Expenses (1) Cash Operating Expenses Improving Over Time ($/Boe) $20.00 $15.00 $10.00 $16.98 $3.09 $4.58 Production Taxes Cash G&A Operating Expenses $15.62 $14.61 $13.63 $2.93 $2.31 $12.48 $12.82 $1.94 $11.21 $1.16 $1.68 $3.89 $4.27 $1.86 $3.90 $1.94 $2.98 $2.63 (2) $11.75 $0.81 $2.69 $5.00 $9.31 $8.03 $8.80 $7.79 $6.72 $8.86 $8.68 $8.25 $0.00 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Cash operating costs per unit of production have trended down over time, improving 31% from $16.98 per Boe in 2013 to $11.75 per Boe in Q Aggressive operating cost management helps mitigate impact of macro price changes LOE and G&A improvements are sustainable, with potential for additional improvement Through discipline and cost cutting, MPO has become a low-cost operator in the Mississippian Lime NYSE: MPO (1) See reconciliation in appendix (2) Includes gathering and transportation costs 7

8 Demonstrating Capital Discipline Realized Operational Efficiencies Realized Service Cost Reductions Approximately 60% of savings year-to-date Reduced average drilling cycle time from 22 to 19 days Modified casing design Implemented new frac plugs to eliminate drill outs Miss Lime Well Costs Approximately 40% of savings year-to-date Stimulation services reduced ~40% ~60% reduction in cement services Directional drilling down ~25% Tubular savings of ~25% ~30% cost reduction on artificial lift Additional well cost reductions to primarily be driven by further operational efficiencies NYSE: MPO 8

9 Mississippian Lime - Premier Position Net Production (Boe/d) (1) Mississippian IRRs at Various Well Costs (2) and Prices (3) 30,000 25,000 20,698 23,834 25,039 26,531 27,029 20,000 15,000 14,364 17,579 16,381 Gas NGL Oil 10,000 5,000 - Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Premier position in the Miss Lime trend with 80,700 net acres (1) Improved geological understanding and technical expertise help to differentiate results Downspacing tests have been encouraging with little to no interference seen to date At Strip Pricing (3) and current AFE cost of $3.3mm (2), the Mississippian type curve generates IRRs of >30% Achieved year end well cost goal of $3.3mm and expect further reductions going forward Further well cost reductions exponentially increase returns (1) Includes Hunton play in Lincoln County, OK (2) Includes facilities cost (3) July 27, 2015 WTI Strip, 35% of WTI for NGLs, gas prices held flat at $3.00/MMCF NYSE: MPO 9

10 Mississippian Lime - Differentiated Performance Continuing Top Tier overall well performance in the Mississippian Lime 258 wells on production >30 days: Average peak 30-day rate of 559 Boe/d (1) More consistent results being driven by improved geological understanding and 3D seismic Peak 30-Day Production Rates through July 26, 2015 Average Miss Lime well IRRs >30% at strip prices (2) and current AFE costs of $3.3 million (3) NYSE: MPO 10 (1) Gross 3-stream (2) Strip pricing on July 27, 2015 (3) Includes facilities cost

11 Boed Mississippian Lime 2015 Well Performance Well Production vs. YE PUD Type Curve 2015 Wells Normalized Flowing Time (days) 2015 Wells Actual Production 2014 YE PUD Type Curve 2015 Wells Actual Production Average 2015 well results reaffirm increased type curve NYSE: MPO 11

12 Mississippian Lime Downspacing Upside Downspacing Well Performance Downspacing Opportunities 2014 YE PUD Type Curve Downspacing Wells Actual Production Average Two downspacing wells with over 200 days of production Production profiles in line with type curve and within range of other wells in section Little to no communication seen to date With continued downspacing success, potential to add up to 350 locations to our premier PUD fairway NYSE: MPO 12

13 Anadarko Basin Vast Acreage Position in a Proven Basin Cleveland IRRs at Various Well Costs (1) and Prices (2) Strong acreage position of ~111,000 net acres (~82,000 in Texas and ~29,000 in Oklahoma) Primary horizons demonstrate similar and predictable results and provide attractive returns with achievable cost reductions and more favorable commodity prices Expansion of geological understanding and refining well design will improve well performance, leading to improved type curve and increased returns Focus in 2015 is on a high-return capital and expense workover program, and reducing LOE Large inventory of predictable drilling provides solid returns with lower cost or improved prices (1) Includes facilities cost NYSE: MPO (2) July 27, 2015 WTI Strip, 35% of WTI for NGLs, gas prices held flat at $3.00/MMCF 13

14 Looking to the Future Comprehensive liquidity enhancing transaction provides the Company with runway to withstand the low commodity price environment and maximize value of premium Mid- Continent asset base Continue to exploit premier Mississippian Lime asset Excellent team with geological and operational expertise and a proven track record of success Generating >30% IRR in current price environment Aggressively seeking further cost improvements to enhance returns Successful downspacing will expand inventory on existing acreage Leverage geological understanding to opportunistically add to existing acreage position Unlock value of Anadarko Basin Apply Miss Lime expertise to shorten learning curve Focus near term on cost effective workovers and other initiatives to mitigate base production decline Developing deeper geological understanding to improve well design, lower costs, and improve well performance Mississippian Lime is a premier asset providing a solid foundation for future success NYSE: MPO 14

15 Appendix

16 Guidance (as of August 4, 2015) Q FULL YEAR 2015 Daily Production (Boe/day) 33,000-34,000 (1) 31,500-33,500 (1) Miss+ Anadarko Miss+ Anadarko LA By Area ~82% ~18% By Area ~81% ~18% ~1% Oil 40-45% 45-50% Oil 40-45% 45-50% ~70% NGL 15-20% 20-25% NGL 15-20% 20-25% ~20% Nat Gas 40-45% 30-35% Nat Gas 40-45% 30-35% ~10% Operating Capital Expenditures (2) $55mm - $65mm $250mm - $275mm ~92% Miss+, ~8% Anadarko ~94% Miss+, ~5% Anadarko, 1% LA Adjusted EBITDA (3) Capitalized Interest Lease Operating and Workover Expense Gathering and Transportation Expense Severance and Ad Valorem Tax $80mm - $90mm $1mm - $2mm $ $7.25 / boe $3.5mm - $4mm 3% - 4% of revenue $350mm - $380mm $4mm - $6mm $ $7.25 / boe $13mm - $15mm 3% - 5% of revenue General and Administrative Expense (3) Cash Non Cash DD&A Expense Income Tax Provision (deferred & non-cash) $10mm - $11mm $1mm - $2mm $ $22.00 / boe 0% - 5% $38mm - $42mm $6mm - $8mm $ $22.00 / boe 0% - 5% 1) Oil Price Differential & Transportation Information - Mississippian: WTI w/ $2.50 discount, including transportation - Anadarko: WTI w/ $3.50 discount, including transportation 2) Excluding capitalized interest and G&A, asset retirement obligations, office and other expenditures 3) Excludes debt restructuring costs Miss+ = Mississippian + Hunton NYSE: MPO 16

17 Hedging Summary (as of August 4, 2015) Oil Q3 Q4 Total WTI Swaps Volume (Bbls) 1,104,000 1,104,000 2,208,000 Volume (Bbl/d) 12,000 12,000 12,000 Price ($/Bbl) $ $ $ Natural Gas Swaps Volume (Mmbtu) 4,600,000 4,600,000 9,200,000 Volume (Mmbtu/d) 50,000 50,000 50,000 Price ($/Mmbtu) $4.13 $4.13 $4.13 NYSE: MPO 17

18 Adjusted EBITDA Reconciliation Adjusted EBITDA reconciliation to net income (loss): For the Three Months Ended June 30, For the Three Months Ended March 31, For the Year Ended December 31, Net income (loss) $ (598,437) $ (193,554) $ 116,929 $ (343,985) $ (150,097) $ 16,657 Depreciation, depletion and amortization 55,255 58, , , ,561 91,699 Impairment in carrying value of oil and gas properties 498, ,667 86, , Loss on sale/impairment of field inventory , (Gain)/Losses on commodity derivative contracts net 19,293 (21,372) (139,189) 44,284 11,158 4,844 Net cash received (paid) for commodity derivative contracts not designated as hedging instruments 42,189 52,608 (18,332) (17,585) (15,825) (16,733) Income tax expense (benefit) - (9,041) 6,395 (146,529) 157,886 - Interest income (27) (9) (39) (33) (245) (23) Interest expense, net of amounts capitalized 44,880 36, ,548 83,138 12,999 2,094 Asset retirement obligation accretion ,706 1, Share-based compensation 2, ,618 5,713 2,459 53,744 Adjusted EBITDA $ 64,028 $ 99,573 $ 474,098 $ 330,759 $ 144,619 $ 152,616 Acquisition, transaction costs and debt restructuring costs 34,649 1,743 4,129 11,803 14,884 - Adjusted EBITDA, before acquisition, transaction costs and debt restructuring costs $ 98,677 $ 101,316 $ 478,227 $ 342,562 $ 159,503 $ 152,616 NYSE: MPO 18

19 Cash Operating Expenses Reconciliation Q2 Q1 Full Year Full Year Operating Expenses - GAAP $628,338 $277,299 $533,350 $876,915 Adjustments for certain non-cash items: Asset retirement accretion (390) (445) (1,706) (1,435) Share-based compensation, net of amounts capitalized (2,096) (801) (8,618) (5,713) Depreciation, depletion, and amortization (55,255) (58,428) (269,935) (250,396) Impairment on oil and gas properties (498,389) (174,667) (86,471) (453,310) Other - (97) (4,056) (615) Cash Operating Expenses - Non-GAAP (1) $72,208 $42,861 $162,564 $165,446 Cash Operating Expenses - Non-GAAP, per Boe (1) $23.41 $13.94 $13.86 $18.94 Severance and other items associated with Houston office closure per Boe ($0.42) ($0.55) ($0.38) - Acquisition, transaction costs and debt restructuring costs per Boe ($11.24) ($0.57) ($0.35) ($1.35) Adjusted Cash Operating Expenses - Non-GAAP, per Boe (1) $11.75 $12.82 $13.13 $17.59 NYSE: MPO 19

20 Liquidity June 30, 2015 : $402 mm $ millions Revolver Cash Balance Letters of Credit Borrowing base Net Liquidity June 30, 2015 Liquidity $151,000 $0 ($2,000) $253,000 $402,000 Liquidity outlook substantially increased with transaction 2015 guidance has Adjusted EBITDA outpacing capital spend by $75 - $100mm Annualized cash interest expense expected to be ~$180mm post transaction Current borrowing base of $253mm; next redetermination in October 2015 NYSE: MPO 20

21 Preferred Share Dividend Calculation (1) Calculation Per share Total Conversion into Common $ Conversion into Common $ Liquidation preference at October 1, 2012: $ 10, $ 325,000,000 2,407,407 2,954,545 Dividend Amount at March 30, 2013: $ ,000,000 96, ,182 Liquidation preference at March 30, 2013: $ 10, $ 338,000,000 2,503,704 3,072,727 Dividend amount at September 30, 2013: $ ,520, , ,909 Adjusted liquidation preference at September 30, 2013: $ 10, $ 351,520,000 2,603,852 3,195,636 Accrued dividend amount at March 30, 2014: $ ,060, , ,825 Adjusted liquidation preference at March 30, 2014: $ 11, $ 365,580,800 2,708,006 3,323,462 Accrued dividend amount at September 30, 2014: $ ,623, , ,938 Adjusted liquidation preference at September 30, 2014: $ 11, $ 380,204,032 2,816,326 3,456,400 Accrued dividend amount at March 30, 2015: $ ,208, , ,256 Adjusted liquidation preference at March 30, 2015: $ 12, $ 395,412,193 2,928,979 3,594,656 Accrued dividend amount at June 30, 2015: $ ,908,244 58,580 71,893 Adjusted liquidation preference at June 30, 2015: $ 12, $ 403,320,437 2,987,559 3,666,549 Second Quarter 2015 Conversion into Common $ Accumulated dividend amount at 6/30/15 7,908,244 Conversion price $ Additional shares 71,893 Share price at June 30, 2015 $ 9.30 Dividend amount as calculated $ 668, : Reported Q1 Dividend Amount $ 4,116,667 (2) Q2 Dividend Amount 2,568,800 (2) Q3 Dividend Amount 2,568,800 (2) Q4 Dividend Amount 6,334,265 (3) Full year 2013 Dividend (assuming $ conversion) $ 15,588, : Q1 Dividend Amount $ 2,620,421 Q2 Dividend Amount $ 4,805,726 Q3 Dividend Amount $ 1,907,667 Q4 Dividend Amount $ 1,043,833 Full year 2014 Dividend (assuming $ conversion) $ 10,377, : Q1 Dividend Amount $ 131,343 Q2 Dividend Amount $ 668,606 Full year 2015 Dividend (assuming $ conversion) $ 799,949 Key Terms Dividend Payment dates: March 30 September 30 Rate: 8% per annum Compounding: Semi-annually Number of shares: 32,500 Initial liquidation preference: $ 10,000 per share Year: 360 days Mandatory conversion date: September 30, 2015 (1) Assumes 1-for-10 Reverse Stock Split NYSE: MPO (2) Calculated assuming $ conversion. 21 (3) Calculated assuming $ conversion. Includes $2,103,242 related to prior periods for change in conversion rate for dividend valuation purposes.

22 Management Team Background Information Frederic (Jake) F. Brace President, Chief Executive Officer and Director Mark E. Eck Executive Vice President, Chief Operating Officer Mr. Brace has been President, Chief Executive Officer and a Director since March of 2015 Mr. Brace is currently Chairman and Chief Executive Officer of Beaucastel LLC and Sangfroid Advisors Ltd and has over twenty years of experience in business management and board representations Prior to joining Midstates, Mr. Brace worked for Niko Resources, Ltd., an oil and gas company, from August 2013 to December 2014 serving first as Senior Advisor and then as President of the company and from 1988 to 2008, he worked at the UAL Corporation (now United Continental Holdings, Inc.), the parent company of United Airlines, Inc. and Continental Airlines, Inc., where he served as Executive Vice President and Chief Financial Officer of UAL Corporation and United Airlines, Inc. from 2002 to 2008 Mr. Brace is a member of the board of directors of Anixter International and Standard Register and has also served on the board of numerous public and private companies He received his BS in Industrial Engineering from the University of Michigan and his MBA with a specialization in finance from the University of Chicago Graduate School of Business Mr. Eck has been Executive Vice President and Chief Operating Officer since December 2014 Prior to joining Midstates, Mr. Eck worked for Samson Resources as VP Business Development after previous roles of VP Operations & Midstream and General Manager Haynesville Team Prior to joining Samson Mr. Eck served as the Tulsa Region Business Development Manager at SM Energy and Manager of Supply Chain Mr. Eck began his oil and gas career with ARCO Oil & Gas Company serving in various Engineering, Operations, Planning, Procurement and Human Resources roles over a 21 year career before leaving ARCO in 2000 He received his Bachelor of Science Degree in Mechanical Engineering from the University of Missouri-Rolla in 1980 and Executive Education training at Thunderbird School of Global Management Nelson M. Haight Executive Vice President, Chief Financial Officer, Chief Accounting Officer Mitch G. Elkins Executive Vice President, Operations Mr. Haight has been a Chief Financial Officer since January 2014 after his previous roles of Chief Accounting Officer which he held since August 2013 and as a Vice President and Controller which he held since December 2011 Mr. Haight is a Certified Public Accountant and prior to joining the Company, Mr. Haight was a partner with the audit firms of GBH CPAs from November 2008 to December 2011 and Malone Bailey, PC from July 2007 to November 2008 Prior to that, Mr. Haight served in a variety of public accounting and finance roles and began his career in 1988 with Arthur Andersen and Co. Mr. Haight holds a bachelor s degree and a master s degree in public accounting from the University of Texas Mr. Elkins has been Executive Vice President of Operations since 2015 after his previous role of Vice President of Drilling and Completions which he held since January 2012 Prior to joining Midstates Mr. Elkins worked as the International Drilling Manager for Transatlantic in Istanbul and the Drilling and Completions Manager for Apache in their Australian operations Prior to that Mr. Elkins held a variety of roles for Unocal, Apache and owned a project management company supporting clients such as Apache, Chevron, Perenco, Shell and others in international operations Mr. Elkins has 40 years experience in the industry with 25 years experience internationally Mr. Elkins holds a Bachelor of Science Degree in Control Engineering with a Petroleum Production Base from the University of Texas Permian Basin NYSE: MPO 22

23 Midstates Petroleum Company TULSA 321 South Boston, Suite 1000 Tulsa, Oklahoma Main Phone (918) Contact Information Investor Relations Jason McGlynn (918) Al Petrie (713) NYSE: MPO 23