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QEP Grows Permian, Bakken Production 48%; Well Cost Declines $2MM
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QEP Resources Inc. has reported its second quarter 2015 results.
Highlights: Crude oil production increased 9%, natural gas production increased 4% and NGL production increased 26% in the second quarter 2015 compared with the first quarter 2015. Net natural gas equivalent production increased by 8% to 80.9 Bcfe in the second quarter 2015 compared with 75.2 Bcfe in the first quarter 2015. The increase was due primarily to increased production in the Williston and Permian basins, partially offset by decreased Haynesville production. Crude oil and NGL revenues increased 40% compared with the first quarter 2015, and represented approximately 71% of field-level production revenues.Chuck Stanley, Chairman, President and CEO of QEP Resources, said: "Our second quarter operational performance…
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