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QEP Resources Details its Fourth Quarter 2019 Results
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QEP Resources, Inc. reported fourth quarter and full year 2019 financial and operating results and provided initial 2020 guidance and capital investment plan.
Full Year 2019 Highlights Delivered equivalent production 11% above and capital investment 11% below the midpoint of original 2019 guidance Lowered drilling, completion, and equipment costs in the Permian Basin by $2.0 million per well Reduced General & Administrative (G&A) expense by approximately 30% from 2018 to 2019 Decreased officer headcount by 54%, which resulted in a $10 million reduction to target officer compensation Generated $566.9 million of Net Cash Provided from Operating Activities Retired $66.9 million of debt and ended the year with a $166.3 million cash balance 2020 Outlook Plan to deliver 4% oil growth in…- ✓ Full news archive — U.S., Canada & international coverage
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