Exploration & Production | Top Story | Quarterly / Earnings Reports
QEP Touts Big Reduction in Pinedale Drill Times; Edits Uinta Strategy
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QEP Resources has reported a third quarter 2013 update on its Pinedale Anticline and Uinta Basin operations.
During the third quarter 2013, QEP Energy's Pinedale net production averaged 274 MMcfed, of which 13% was oil and NGL. In response to the decline in ethane prices, QEP Energy began rejecting ethane from Pinedale production on December 1, 2012, which continued through the third quarter. While ethane rejection results in 7-8% less natural gas equivalent sales volumes, it has a negligible impact on gross revenues at current ethane prices. The processing margins for Pinedale propane and heavier NGL components remain positive.
QEP Energy has completed and turned to sales 79 new Pinedale wells (average working interest 75%) through…
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