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Q2 2015 Operations Update – QEP Resources, Inc.

QEP Resources, Inc. · Aug 3, 2015 · 17 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. Q2 2015 Operations Update – QEP Resources, Inc. – slide 1
    OPERATIONS UPDATE Second Quarter 2015 August 3, 2015
  2. Q2 2015 Operations Update – QEP Resources, Inc. – slide 2
    ASSET OVERVIEW QEP Energy 2Q 2015 QEP Resources Production Revenues 2014YE Proved Reserves ND Pinedale 29% Anticline Williston Basin 26% 59% 7% 64% WY 15% Uinta Oil plays Basin Liquidsrich plays UT Drygas play CO Oil…
  3. Q2 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 49% Permian Basin 600 16% 8% 6%…
  4. Q2 2015 Operations Update – QEP Resources, Inc. – slide 4
    EXECUTING ON TRANSITION TO OIL 20 18.5 18 17.1 16 14 Oil production (MMBbl) 12 10.2 10 8 6.3 6 4 3.7 3.0 2 2010 2011 2012 2013 2014 2015E (1) 2015E represents midpoint of guidance as of August 3, 2015 4
  5. Q2 2015 Operations Update – QEP Resources, Inc. – slide 5
    WILLISTON BASIN QEP net production (Boed) 60,000 50,000 40,000 30,000 Fort Berthold 20,000 10,000 South Antelope Bakken Formation wells Three Forks Formation wells Proved reserves of 143 MMBoe (1) Operated focus…
  6. Q2 2015 Operations Update – QEP Resources, Inc. – slide 6
    WILLISTON BASIN SOUTH ANTELOPE Net acres: 27,858 Over 400 Remaining locations Q2 Completions 5well pad Current gross well cost: 6.2 MM (2 Bakken / 2 Three Forks / (drill & complete) 1 Three Forks 2nd Bench ) 10,000ft laterals…
  7. Q2 2015 Operations Update – QEP Resources, Inc. – slide 7
    WILLISTON BASIN HIGHDENSITY INFILL PILOTS Highdensity infill pilot wells showing strong results At 90 days, wells significantly outperforming original completion design (30 stages, 3 MM lbs. of proppant) on original spacing (eight…
  8. Q2 2015 Operations Update – QEP Resources, Inc. – slide 8
    WILLISTON BASIN HIGH DENSITY INFILL PILOTS Existing Wells Bakken Formation wells Producing Three Forks Formation wells WOC Drilling wells Drilling QEP acreage 8
  9. Q2 2015 Operations Update – QEP Resources, Inc. – slide 9
    WILLISTON BASIN SOUTH ANTELOPE HIGHDENSITY RESULTS 180,000 Original Completions 3035 Stgs; 34 MMlbs (60 Wells) 160,000 High Proppant Volume Completions 4851 Stgs; 9.510 MMlbs (16 Wells) 75 HighDensity Infill Test 4851 Stgs; 9.510…
  10. Q2 2015 Operations Update – QEP Resources, Inc. – slide 10
    WILLISTON BASIN FORT BERTHOLD Net acres: 67,289 Current gross well cost: 6.7 MM (drill & complete) 10,000ft laterals (avg.) Additional costs: 1.1MM per well (facilities and artificial lift) Q2 Completions 4well pad (2 Bakken…
  11. Q2 2015 Operations Update – QEP Resources, Inc. – slide 11
    PERMIAN BASIN Existing vertical PDP well QEP Net Production Q2 2015 vertical completion (Boed) 14,000 Q2 2015 horizontal completion 12,000 QEP horizontal rig (2) 10,000 QEP acreage 8,000 6,000 Middle Spraberry 4,000 Spraberry…
  12. Q2 2015 Operations Update – QEP Resources, Inc. – slide 12
    PERMIAN BASIN OPERATIONAL UPDATE Converted to pad development Reduce offset frac downtime Reduce drilling and completion costs Completed strongest QEP operated wells to date in 2Q 2015 Wolfcamp D: Mabee Y UL H1 WD (1,310 Boed 24hr…
  13. Q2 2015 Operations Update – QEP Resources, Inc. – slide 13
    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…
  14. Q2 2015 Operations Update – QEP Resources, Inc. – slide 14
    GREEN RIVER BASIN PINEDALE ANTICLINE Net acres: 12,673 QEP Producing Well Proved reserves: 1.45 Tcfe (1) Other operators 35 well completions in Q2 2015 (No QEP interest) QEP Drilling (2) Current gross well cost: 3.2 MM QEP acreage…
  15. Q2 2015 Operations Update – QEP Resources, Inc. – slide 15
    PINEDALE ENHANCED COMPLETION RESULTS 700 175 Old completion well count Enhanced completion 600 150 design: 100 mesh sand New Completion: 67 wells Enhanced Completion: 67 wells and slickwater Old Completion: 171 wells 500…
  16. Q2 2015 Operations Update – QEP Resources, Inc. – slide 16
    UINTA BASIN RED WASH LOWER MESAVERDE Net acres: Approximately 232,000 in the Uinta Basin Over 48,000 net acres in the Red Wash Unit (100% WI, 86.5% NRI) Proved reserves: 623 Bcfe(1) Cumulative production of most recent horizontal…
  17. Q2 2015 Operations Update – QEP Resources, Inc. – slide 17
    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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