EFTA01357838

Deutsche Bank Securities Inc 'Figure 115: Commodity Price Scenario A' nalysis: Midstates Petroleum Sensitivity Based on Bloc/: d•: 0 0 3. FY ISE EBITDA (5 31.71 1276 1276 3125 13.73 1.12$ 14.75 $300 $165 $123 Sly $190 SIP& $206 $214 1400 2210 1216 $227 $71.5 $24) 1232 $2•A $560 $255 $261 $272 $283 0259 $297 1305 2600 $301 Ma $117 1336 1134 $342 13,51 1100 1344 $.133 $.361 OH 2379 $133 119$ IMO 1192 $400 $403 1417 $423 1411 1441 2160 $437 1445 1454 6632 $470 $479 3487 $300 $400 SSPO 2600 1200 2500 1100 $300 $400 oat:, 1460 $700 secto $040 FY 16E EBITDA (S litill0m) NYMEX Gas IAm93e1 21 75 Sat $133 $596 1261 $307 $361 $453 $2 25 $2 75 $3.25 13.73 1142$ $4.75 114 1105 silt $129 $140 $152 $150 1162 1173 $133 $197 $203 $203 1218 $230 $741 $253 $266 1332 $274 $206 $297 SX9 $321 $319 1110 $342 $134 $393 $377 $375 SIM 1336 1410 $421 3433 $431 1443 5434 1461 $473 $0.0 FY ISE Net Leverage NYNEX Gas (timcce) SA 7 S $2h 1276 1126 129. 12 L 11.4 Ilk 924 03. 914 IIM, Oh 733 7.48 724 63. 84. 1334 I 1x 37. 354 Ma 524 4 tw 484 4h 461 43. 424 41x 404 W“11). Gas µ176c4) FY 16E Net Leverage $1.75 5225 12.75 $3.25 $130 209. 260. 220* 205a $400 17 t. 15h 54 48 1314 $500 11.6. 1094 104 cm, sato 4 h 524 723. 7.4 $910 11.14 6.64 624 Stu $500 54. 524 54.. 466 $900 4 S. 434 424 •414 $375 1126 11.75 100. 10.14 9.7. 544 411:4 7.84 TO. Mt 0.5. 506 5h St 5 Ix 50. 4.114 44 43. 4.24 394 36. 154 13.75 54.25 14.75 163 145. 154 124 11% 10.6 918 46 41. 702 674 94 5 Tx 54 62. 40. 4i 43. 3911 274 3.414 0 FY 15E FCF (S Million) NYMEx Gan (Simile) 11.75 5225 12.75 13.23 55 16 14.25 14.75 $.30.0 t$486) 6403) 4440) i13031 r$3115, (j),I) (1370) 240.0 63741 61671 43691 113011 tsmo 61341 (1323) $30.0 6333) ans. 113111) 113101 113026 112931 (12171 9190 am) 11214) 02701 6310 6261) 112531 ($240) 270.0 ism 1$242) ($2351 ($2271 02201 112121 (MO $80.0 6209) 11201) (21931 111551 0175) 1170) 01433 190.0 111671 12140) (11321 ($1441 61371 12121) (1121) 7. ISE FCF IS 1375 32.25 0.75 0.26 $176 2309 t$313) ($3221 043111 .33001 02091 140.0 6279) tom ($1501 113451 35234) 1.10.0 1$1241 (1211) (6201 ($1911 111001 160.0 i$170) 1$1541) 1114/1 11135) 6126) $70.0 11155) 11101) 1293) 13521 0711 140 0 r$501 ($39) 1337i 12141 $910 Y SS 210 $27 $36 FY 15E Debt. Proved Reserves (S. Sic fei NYMEX GAS (Linde) 14.25 1175 122771 02651 12223) ($2121 11160 4$137) 6193) 1200) (1421 651 26 340 $40 1113 $2 .25 $x75 13.2$ 23 75 14.26 14.75 130.0 128 12.5 115 317 127 $27 $27 $.40.0 $27 $27 $27 127 $22 127 $27 $40.0 127 127 126 116 126 326 126 9211.0 126 226 322 126 126 $26 $26 270.0 $26 $26 $25 323 325 525 $25 MO $23 126 $25 125 $26 $26 $24 160.0 116 114 124 $24 524 324 124 FY 16E DebtProved Reserves ( S:Mc fen NYMEX 04, ! smite) 11375 230.0 232 $40.0 131 500.0 MO 110.0 115 4740 $27 $10.0 126 110.0 $2 3 1125 13.23 $175 11.25 11.75 112 132 $31 $31 $31 131 $31 $10 110 239 230 $29 $29 $20 120 129 $26 $25 $25 $25 $25 127 127 227 127 127 126 226 226 $26 $26 125 126 325 $25 124 $24 $24 124 $24 $23 $23 San Onset* !gent Sornen Ina:* IP its, M Wow'. COMOWISMtcomoreetrotrIVI MIAOW beast s Iowa MixStonoteg arena µ200110M4 AMEPVCAROCECCX0.fiN106.EFELISCAVIHRIA00,0ASPCPVIVIOSESN.5fltrAfhtSMTPIJA.11Winf MP/ et t— o co -c 2 0C O3 0 3 R n CP 2 CP CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0044678 SDNY_GM_00190862 1235 EFTA01357838