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May 2015 Investor Presentation – QEP Resources, Inc.

QEP Resources, Inc. · May 14, 2015 · 21 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. May 2015 Investor Presentation – QEP Resources, Inc. – slide 1
    INVESTOR PRESENTATION MAY 2015
  2. May 2015 Investor Presentation – QEP Resources, Inc. – slide 2
    QEP AT A GLANCE Balanced upstream portfolio Proved reserves of 3.9 Tcfe at YE 2014 in multiple US basins Product diversity Crude oil Natural gas Natural gas liquids Focused investment in: Williston Basin crude oil play Permian…
  3. May 2015 Investor Presentation – QEP Resources, Inc. – slide 3
    2014 HIGHLIGHTS & 2015 OUTLOOK 2014 Highlights Record crude oil production of 17.1 MMBbl, up 68% from 2013 Increased crude oil production to 32% of total natural gas equivalent production, up from 20% in 2013 Acquired Permian Basin…
  4. May 2015 Investor Presentation – 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. May 2015 Investor Presentation – QEP Resources, Inc. – slide 5
    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 Liquids-rich plays UT CO Dry-gas play Oil NGL…
  6. May 2015 Investor Presentation – QEP Resources, Inc. – slide 6
    WILLISTON BASIN Eastern edge QEP net production being defined (Boed) by drilling 60,000 50,000 40,000 30,000 20,000 Fort Berthold 10,000 - South Antelope 20 Miles Proved reserves of 143 MMBoe (1) Bakken Formation wells…
  7. May 2015 Investor Presentation – QEP Resources, Inc. – slide 7
    WILLISTON BASIN SOUTH ANTELOPE 5,000 to 10,500-ft laterals Recent change to large proppant volume fracs - approx. 50 stages Evaluating down-spacing opportunities Q1 Infill Pilot CURRENT ACTIVITY Q1 Completions Program 3-well pad (2…
  8. May 2015 Investor Presentation – QEP Resources, Inc. – slide 8
    WILLISTON BASIN SOUTH ANTELOPE ENHANCED COMPLETIONS RESULTS 200 100 180 Original Completions - 30-35 Stgs; 3-4 MMlbs -60 WELLS 160 80 Mid-Size Completions - 31-34 Stgs; 7.5-9 MMlbs-17 WELLS 75 MBoe uplift 140 Most Recent…
  9. May 2015 Investor Presentation – QEP Resources, Inc. – slide 9
    HIGH DENSITY DOWN-SPACING TESTS QEP Thompson Unit Existing Wells Bakken Formation wells Three Forks Formation wells Phase 1 Producing QEP planned wells QEP acreage QEP Drilling 10
  10. May 2015 Investor Presentation – QEP Resources, Inc. – slide 10
    WILLISTON BASIN FORT BERTHOLD Strong well performance 5,000 to 12,500-ft laterals Utilizing larger proppant volume fracs - approx. 50 stages Q1 Completions Evaluating down spacing 3-well pad (1 Bakken / 2 Three Forks) Eastern edge…
  11. May 2015 Investor Presentation – QEP Resources, Inc. – slide 11
    Proved reserves of 63 MMBoe (1) PERMIAN BASIN Net acres - 26,761 16 horizontal and 336 vertical operated producing wells Atokaberry Drilling Testing multiple horizontal benches 15 horizontal wells completed since start of program…
  12. May 2015 Investor Presentation – QEP Resources, Inc. – slide 12
    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 Target…
  13. May 2015 Investor Presentation – QEP Resources, Inc. – slide 13
    GREEN RIVER BASIN PINEDALE ANTICLINE Proved reserves 1.45 Tcfe (1) QEP Drilled Well Other operators Strong early results from new completion (No QEP interest) design QEP Drilling (2) QEP acreage CURRENT ACTIVITY Number of rigs…
  14. May 2015 Investor Presentation – QEP Resources, Inc. – slide 14
    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…
  15. May 2015 Investor Presentation – QEP Resources, Inc. – slide 15
    UINTA BASIN RED WASH LOWER MESAVERDE Proved reserves of 623 Bcfe(1) UTAH Approximately 232,000 net acres in the Uinta Basin Uinta Over 48,000 net acres in the Red Wash Unit (100% WI, 86.5% Basin NRI) Most recent horizontal well…
  16. May 2015 Investor Presentation – QEP Resources, Inc. – slide 16
    2,350 Gas Saturated Sandstones & Siltstones UINTA BASIN HORIZONTAL TARGETS BRAIDED Braided Vertical testing shows potential for two horizontal targets in UPPER NESLEN the western part of the Red Wash Unit Upper Neslen An…
  17. May 2015 Investor Presentation – QEP Resources, Inc. – slide 17
    WHY INVEST IN QEP Focused and balanced inventory of high-quality crude oil and natural gas assets Well positioned for future growth Williston Basin crude oil play Permian Basin crude oil play Pinedale liquids-rich gas play Uinta…
  18. May 2015 Investor Presentation – QEP Resources, Inc. – slide 18
    DEBT MATURITY SCHEDULE (1) 2,000 1,800 MM Revolving Credit 1,750 2.00% 1,500 1,250 6.875% 5.25% 1,000 5.375% 750 650.0 625.0 500.0 500 176.8 MM Senior Notes 6.80% 6.80% 6.05% 250 134.0 136.0 0 2013 2014 2015 2016 2017…
  19. May 2015 Investor Presentation – QEP Resources, Inc. – slide 19
    COMMODITY DERIVATIVES QEP ENERGY COMMODITY DERIVATIVE POSITIONS (as of 4/24/2015) Total Average price Year Type of Contract Index Volumes per unit (in millions) Gas sales (MMBtu) 2015 Swap NYMEX HH 46.6 3.48 2015 Swap IFNPCR 31.9…
  20. May 2015 Investor Presentation – QEP Resources, Inc. – slide 20
    2015 GUIDANCE 2015 GUIDANCE (AS OF 4/29/2015) LOW HIGH QEP Energy Oil production (MMBbl) 17.0 18.5 QEP Energy NGL production (MMBbl) 4.0 4.3 QEP Energy natural gas production (Bcf) 165 175 QEP Energy total equivalent production (Bcfe)…
  21. May 2015 Investor Presentation – QEP Resources, Inc. – slide 21
    (1) QEP RESOURCES CAPITAL ALLOCATION 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%…

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