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QEP Follows Hess' Example With 50 Stage Bakken Fracs
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QEP Resources, Inc. reported first quarter 2016 financial and operating results.
Key Points: The Company reported a net loss of $863.8 million, or $4.55 per diluted share, for the first quarter 2016 compared with a net loss of $55.6 million, or $0.32 per diluted share, for the first quarter 2015. 32 gross operated completions in 1Q Bakken - During the first quarter 2016, the Company completed and turned to sales five additional high-density infill pilot wells and also completed its first 12-well high-density pad. Permian - QEP completed and turned to sales seven gross-operated wells during the first quarter 2016 (average working interest 96%). Four wells targeted the Spraberry Shale and two wells targeted the Middle Spraberry. Spraberry - Six of the wells turned to sales during the…- ✓ Full news archive — U.S., Canada & international coverage
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