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Operations Update Third Quarter 2014 – QEP Resources, Inc.

QEP Resources, Inc. · Nov 5, 2014 · 13 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. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 1
    Operations Update Third Quarter 2014 November 5, 2014
  2. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 2
    QEP ENERGY ASSET OVERVIEW QEP Energy 3Q 2014 Production Revenues 8% Pinedale ND Anticline 28% WY Williston Basin 64% Uinta Basin CO UT Oil Natural Gas NGL QEP Resources 2013YE Proved Reserves OK Midcontinent/ SCOOP…
  3. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 3
    QEP RESOURCES CAPITAL ALLOCATION* 2,000 1,800 1,600 Corporate 1,400 Exploratory drilling 1,200 51% Williston million 32% 1,000 57% Uinta 800 10% 4% Pinedale 600 Permian 29% 8% 17% Midcontinent/SCOOP 400 18%…
  4. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 4
    QEP ENERGY EXECUTING ON TRANSITION TO OIL 180 5.0 Bcfe 20:1 (left axis) 160 Natural Gas (left axis) 4.5 Bcfe 6:1 (left axis) 4.0 140 NGL (right axis) Gas/Total production (Bcf/Bcfe) Oil (right axis) 3.5 Oil/NGL…
  5. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 5
    QEP ENERGY EXECUTING ON TRANSITION TO OIL 18 16 14 Oil production (MMBbl) 12 10 8 6 4 2 - 2010 2011 2012 2013 2014F * 5 *2014F represents midpoint of guidance as of November 5, 2014
  6. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 6
    WILLISTON BASIN 109,000 NET ACRES QEP net production Approx. Eastern (Boepd) field boundary 50,000 45,000 40,000 35,000 30,000 25,000 20,000 Fort Berthold 15,000 10,000 5,000 0 South Antelope Bakken Formation well 20 Miles…
  7. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 7
    WILLISTON BASIN SOUTH ANTELOPE 5,000 to 12,500-ft laterals Proved reserves of 86 MMBoe* Probable reserves of 36 MMBoe* 117 Bakken/Three Forks PUD locations* Q3 Completions 4-well pad (2 BKN / 2 TFK) Average PDP EUR of 1,070…
  8. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 8
    WILLISTON BASIN FORT BERTHOLD 5,000 to 12,500-ft laterals Proved reserves of 46 MMBoe* 78 Bakken/Three Forks PUD locations* EUR 300 to 900 MBoe/well (avg. 550 MBoe/well) *(Three Forks and Bakken) Eastern edge being defined by…
  9. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 9
    PERMIAN BASIN ACTIVITY 5 rigs currently drilling vertical QEP: University 7-27 H2WB wells* Wolfcamp B, 7,306 Lateral 2 operated currently drilling horizontal wells* QEP: University 7-27 H4WB 5 horizontal and 306 vertical…
  10. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 10
    PERMIAN BASIN OFFSET HORIZONTAL ACTIVITY 2 miles Wolfcamp B Wolfcamp B 24 hr IP = 613 Boepd 24 hr IP = 1,029 Boepd 30-D Avg = 516 Boepd 30-D Avg = 788 Boepd Wolfcamp B 24 hr IP = 927 Boepd 30-D Avg = 684 Boepd Wolfcamp D/…
  11. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 11
    GREEN RIVER BASIN PINEDALE ANTICLINE QEP net production (MMcfepd) QEP PDP well 320 280 Other operators (No QEP interest) 240 200 QEP leasehold 160 120 80 40 1 Mile Proved reserves 1.56 Tcfe* 412 PUD locations on a…
  12. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 12
    PINEDALE SPUD TO TD DRILL TIMES CONTINUE TO DECLINE 64 Average drill time - spud to total depth 61 45 42 34 27 22 16 14 13 12 10.7 Record 8.5 days 12
  13. Operations Update Third Quarter 2014 – QEP Resources, Inc. – slide 13
    UINTA BASIN RED WASH LOWER MESAVERDE Proved reserves of 402 Geologic Age Formation Bcfe* UTAH Green River Approximately 250,000 net TERTIARY acres in the Uinta Basin Uinta Basin Wasatch Over 32,000 net acres in the Mesaverde…

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