Deutsche Bank Securities Inc
'Figure 115: Commodity Price Scenario A' nalysis: Midstates Petroleum Sensitivity Based on Bloc/: d•:
et t—
FY ISE EBITDA (5 FY 15E FCF (S Million) o co
-c 2 C
0
NYMEx Gan (Simile)
0 O3
31.71 1276 1276 3125 13.73 1.12$ 14.75 11.75 5225 12.75 13.23 55 16 14.25 14.75
$300 $165 $123 Sly $190 SIP& $206 $214 $.30.0 t$486) 6403) 4440) i13031 r$3115, (j),I) (1370) 3 R
1400 2210 1216 $227 $71.5 $24) 1232 $2•A 240.0 63741 61671 43691 113011 tsmo 61341 (1323)
n CP
$560 $255 $261 $272 $283 0259 $297 1305 $30.0 6333) ans. 113111) 113101 113026 112931 (12171
$117 2 CP
0 2600 $301 Ma 1336 1134 $342 13,51 9190 am) 11214) 02701 6310 6261) 112531 ($240)
1100 1344 $.133 $.361 OH 2379 $133 119$ 270.0 ism 1$242) ($2351 ($2271 02201 112121 (MO
IMO 1192 $400 $403 1417 $423 1411 1441 $80.0 6209) 11201) (21931 111551 0175) 1170) 01433
2160 $437 1445 1454 6632 $470 $479 3487 190.0 111671 12140) (11321 ($1441 61371 12121) (1121)
FY 16E EBITDA (S litill0m) 7. ISE FCF IS
NYMEX Gas IAm93e1
21 75 $2 25 $2 75 $3.25 13.73 1142$ $4.75 1375 32.25 0.75 0.26 $176 14.25 1175
$300 Sat 114 1105 silt $129 $140 $152 2309 t$313) ($3221 043111 .33001 02091 122771 02651
$400 $133 $150 1162 1173 $133 $197 $203 140.0 6279) tom ($1501 113451 35234) 12223) ($2121
SSPO $596 $203 1218 $230 $741 $253 $266 1.10.0 1$1241 (1211) (6201 ($1911 111001 11160 4$137)
0 2600
1200
1261
$307
1332
$319
$274
1110
$206
$342
$297
$134
SX9
$393
$321
$377
0 160.0
$70.0
i$170)
11155)
1$1541)
11101)
1114/1
1293)
11135)
13521
6126)
0711 1200)
6193)
(1421
3. $361 $375 SIM 1336 1410 $421 3433 1337i
2500 140 0 r$501 ($39) 12141 651 26
1100 $453 $431 1443 5434 1461 $473 $0.0 $910 Y SS 210 $27 $36 340 $40
FY ISE Net Leverage FY 15E Debt. Proved Reserves (S. Sic fei
NYNEX Gas (timcce) NYMEX GAS (Linde)
SA 7 S $2h 1276 1126 $375 1126 11.75 1113 $2.25 $x75 13.2$ 23 75 14.26 14.75
$300 129. 12 L 11.4 Ilk 100. 10.14 9.7. 130.0 128 12.5 115 317 127 $27 $27
$400 924 03. 914 IIM, 544 411:4 7.84 $.40.0 $27 $27 $27 127 $22 127 $27
oat:, Oh 733 7.48 724 TO. Mt 0.5. $40.0 127 127 126 116 126 326 126
1460 63. 84. 1334 I 1x 506 5h St 9211.0 126 226 322 126 126 $26 $26
$700 37. 354 Ma 524 5 Ix 50. 4.114 270.0 $26 $26 $25 323 325 525 $25
secto 4 tw 484 4h 461 44 43. 4.24 MO $23 126 $25 125 $26 $26 $24
$040 43. 424 41x 404 394 36. 154 160.0 116 114 124 $24 524 324 124
FY 16E Net Leverage FY 16E DebtProved Reserves ( S:Mc fen
W“11). Gas µ176c4) NYMEX 04, ! smite)
$1.75 5225 12.75 $3.25 13.75 54.25 14.75 11375 1125 1235 13.23 $175 11.25 11.75
$130 209. 260. 220* 205a 163 145. 154 230.0 232 112 132 $31 $31 $31 131
$400 17 t. 15h 54 48 1314 124 11% 10.6 $40.0 13 1 $3 1 $10 110 239 230 $2 9
$500 11.6. 1094 104 cm, 918 46 41. 500.0 MO $29 $20 120 129 $26 $25
sato 4h 524 723. 7.4 702 674 94 110.0 115 $25 $25 $25 127 127 227
$910 11.14 6.64 624 Stu 5 Tx 54 62. 4740 $27 127 127 126 226 226 $26
$500 54. 524 54.. 466 40. 4i 43. $10.0 126 $26 125 126 325 $25 124
$900 4 S. 434 424 •414 3911 274 3.414 110.0 $2 3 $24 $24 124 $24 $23 $23
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