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Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc.

QEP Resources, Inc. · Apr 29, 2015 · 15 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 1
    OPERATIONS UPDATE First Quarter 2015 April 29, 2015
  2. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 2
    ASSET OVERVIEW QEP Energy 1Q 2015 QEP Resources Production Revenues 2014YE Proved Reserves ND Pinedale Anticline 26% 38% 56% Williston Basin 59% WY 15% 6% Uinta Oil plays Basin Liquidsrich plays UT Drygas play CO Oil NGL…
  3. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 3
    QEP RESOURCES CAPITAL ALLOCATION (1) 2,000 1,800 1,600 Corporate 1,400 50% Exploratory drilling 1,200 Williston Basin million 57% 1,000 Uinta Basin 800 8% Pinedale Anticline 52% Permian Basin 600 16% 8% 3%…
  4. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 4
    EXECUTING ON TRANSITION TO OIL 20 18 16 14 Oil production (MMBbl) 12 10 8 6 4 2 2010 2011 2012 2013 2014 2015E (1) 2015E represents midpoint of guidance as of April 29, 2015 4
  5. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 5
    WILLISTON BASIN Eastern edge QEP net production being defined (Boed) by drilling 60,000 50,000 40,000 30,000 Fort Berthold 20,000 10,000 South Antelope Proved reserves of 143 MMBoe (1) 20 Miles Bakken Formation wells…
  6. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 6
    WILLISTON BASIN SOUTH ANTELOPE 5,000 to 10,500ft laterals Average PDP EUR of 1,100 MBoe/well (Bakken)(1) Average PDP EUR of 1,060 MBoe/well (Three Forks) (1) Q1 Infill Pilot Q1 Completions Program 3well pad (2 Bakken / 1 Three…
  7. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 7
    WILLISTON BASIN SOUTH ANTELOPE ENHANCED COMPLETIONS RESULTS 200 100 180 Original Completions 3035 Stgs; 34 MMlbs 60 WELLS 160 80 MidSize Completions 3134 Stgs; 7.59 MMlbs17 WELLS 75 MBoe uplift 140 Most Recent Completions 4851…
  8. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 8
    HIGH DENSITY INFILL PILOT COULD SUBSTANTIALLY INCREASE WILLISTON BASIN INVENTORY Existing Wells Phase 1 Producing 1 MILE QEP Drilling 8
  9. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 9
    WILLISTON BASIN FORT BERTHOLD 5,000 to 12,500ft laterals Average PDP EUR 300 to 900 MBoe/well avg. 550 MBoe/well (Three Forks and Bakken)(1) Q1 Completions 3well pad (1 Bakken / Eastern edge 2 Three Forks) being defined by…
  10. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 10
    PERMIAN BASIN Proved reserves of 63 MMBoe (1) 16 horizontal and 336 vertical operated producing wells(2) Testing multiple horizontal benches 15 horizontal wells completed since start of program Average initial 24 hour rate…
  11. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 11
    MIDLAND BASIN TYPE LOG Estimated Original Oil in Place N. Midland Basin Type log 40 MMbo/Sq. Mile Estimated 300+ MMbo per U. Spraberry square mile of original oil in M. Spraberry 60 MMbo/Sq. Mile place L. Spraberry 3,000 feet…
  12. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 12
    GREEN RIVER BASIN PINEDALE ANTICLINE QEP Drilled Well Other operators Proved reserves 1.45 Tcfe (1) (No QEP interest) QEP Drilling (2) 20 well completions in Q1 2015 QEP acreage 1 Mile Pinedale Field Current economic…
  13. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 13
    PINEDALE ENHANCED COMPLETIONS RESULTS 350 New Completion: 35 wells 115 MMcfe Old Completion (Direct Offsets): 88 wells 300 uplift 250 Gross Cumulative Production (Mmcfe) 200 150 100 50 0 0 30 60 90…
  14. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 14
    UINTA BASIN RED WASH LOWER MESAVERDE Proved reserves of 623 Bcfe(1) Approximately 232,000 net acres in the Uinta Basin UTAH Uinta Over 48,000 net acres in the Red Wash Unit (100% WI, 86.5% Basin NRI) Most recent horizontal well…
  15. Q1 2015 OPERATIONS UPDATE – QEP Resources, Inc. – slide 15
    UINTA BASIN HORIZONTAL TARGETS 2,350 Gas Saturated Sandstones & Siltstones BRAIDED Braided Vertical testing shows potential for two horizontal targets in UPPER NESLEN the western part of the Red Wash Unit Upper Neslen An…

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