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Q2 2016 Operations Update – QEP Resources, Inc.

QEP Resources, Inc. · Jul 27, 2016 · 23 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 2016 Operations Update – QEP Resources, Inc. – slide 1
    2Q 2016 OPERATIONS UPDATE JULY 27, 2016
  2. Q2 2016 Operations Update – QEP Resources, Inc. – slide 2
    QEP RESOURCES ASSET OVERVIEW 2015YE YTD 2016 Proved Reserves Production Revenues ND Pinedale Anticline Williston Basin 30% 32% 58% 64% WY 10% 6% Uinta Oil plays Basin Liquidsrich plays UT Drygas play CO Oil NGL Natural…
  3. Q2 2016 Operations Update – QEP Resources, Inc. – slide 3
    EXECUTING ON TRANSITION TO OIL 25 19.6 20.0 20 17.1 Oil production (MMBbl) 15 10.2 10 6.3 5 3.7 3.0 2010 2011 2012 2013 2014 2015 2016E (1) 2016E represents midpoint of guidance as of July 27, 2016 4
  4. Q2 2016 Operations Update – QEP Resources, Inc. – slide 4
    PERMIAN BASIN ACQUISITION
  5. Q2 2016 Operations Update – QEP Resources, Inc. – slide 5
    2016 PERMIAN ACQUISITION SUMMARY QEP agreed to acquire a contiguous acreage position in the core of the northern Midland Basin in Martin County, TX, for approximately 600 million* 10 miles east of existing QEP operations…
  6. Q2 2016 Operations Update – QEP Resources, Inc. – slide 6
    2016 PERMIAN ACQUISITION ACREAGE LEVERAGES PROXIMITY TO EXISTING OPERATIONS Horseshoe Atoll Midland Basin 5 7, martin county, dawson gaines, howard, martin,
  7. Q2 2016 Operations Update – QEP Resources, Inc. – slide 7
    2016 PERMIAN ACQUISITION RATIONALE Increases oil production as a percentage of total production Adds significant inventory in Permian Basin Over 430 identified horizontal locations in four target reservoirs Additional potential in…
  8. Q2 2016 Operations Update – QEP Resources, Inc. – slide 8
    2016 PERMIAN ACQUISITION ACREAGE PRIMARY TARGETS 3,500 feet of oilcharged vertical section 660 750 660 750 1 mile Upside horizontal targets 9
  9. Q2 2016 Operations Update – QEP Resources, Inc. – slide 9
    OPERATIONS UPDATE
  10. Q2 2016 Operations Update – QEP Resources, Inc. – slide 10
    PERMIAN BASIN OVERVIEW 2Q 2016 Program Highlights Profile (1) Continue to enhance completion design Net acres 26,800 Variations in rate, proppant type and cluster spacing Gross operated producing wells 393 Established initial…
  11. Q2 2016 Operations Update – QEP Resources, Inc. – slide 11
    PERMIAN BASIN ACTIVITY Q2 Completions 2 well pad (Spraberry Shale) Drilling 3 well pad Q2 Completions (1 Spraberry Shale) 2 well pad (Spraberry Shale) Q2 Completions 2 well pad (Spraberry Shale) WOC 3 well pad (2 Spraberry…
  12. Q2 2016 Operations Update – QEP Resources, Inc. – slide 12
    PERMIAN BASIN HORIZONTAL WELL PERFORMANCE 250,000 250,000 Spraberry Shale: 7500' (18 well avg) Middle Spraberry: 7500' (8 well avg) Spraberry Shale: 10,000' (2 well avg) Middle Spraberry: 10,000' (1 well) 200,000 200,000…
  13. Q2 2016 Operations Update – QEP Resources, Inc. – slide 13
    PERMIAN BASIN STACKED PAY POTENTIAL 4,000 feet of oilcharged vertical section 1 Mile 14
  14. Q2 2016 Operations Update – QEP Resources, Inc. – slide 14
    WILLISTON BASIN OVERVIEW 2Q 2016 Program Highlights Profile (1) Drill times continue to improve Net acres 116,000 11.5 days spud to TD average in Q2 2016 Gross operated producing wells 330 Updated completion design incorporates Plug…
  15. Q2 2016 Operations Update – QEP Resources, Inc. – slide 15
    WILLISTON BASIN Fort Berthold South Antelope Bakken Formation wells Three Forks Formation wells Operated focus area QEP acreage 16
  16. Q2 2016 Operations Update – QEP Resources, Inc. – slide 16
    WILLISTON BASIN SOUTH ANTELOPE WOC 9 well pad (5 MB / 2 TF1 / 1 TF2 / 1 TF3) WOC 6 well pad (3 MB / 2 TF1 / 1 TF2) WOC 6 well pad (2 MB / 2 TF2 / 2 TF3) Q2 Completions 1 well (MB) WOC 4 well pad QEP Q2 2016…
  17. Q2 2016 Operations Update – QEP Resources, Inc. – slide 17
    WILLISTON BASIN HIGH DENSITY INFILL RESULTS 300,000 Original Completions: 3035 Stgs; 34 MMlbs (60 Wells) HighProppant Completions: 4851 Stgs; 9.510 MMlbs (38 Wells) HighDensity Infill Test: 4851 Stgs; 9.510 MMlbs (16 Wells)…
  18. Q2 2016 Operations Update – QEP Resources, Inc. – slide 18
    WILLISTON BASIN THREE FORKS 2ND & 3RD BENCH 350,000 Original Completions: 3035 Stgs; 34 MMlbs (60 Wells) HighProppant Completions: 4651 Stgs; 9.514 MMlbs (38 Wells) Three Forks 2nd Bench (12 Wells) 300,000 Three Forks 3rd Bench (1…
  19. Q2 2016 Operations Update – QEP Resources, Inc. – slide 19
    WILLISTON BASIN FORT BERTHOLD WOC 3 well pad (2 MB / 1 TF1) QEP Waiting on Completion (WOC, 3 wells) (1) Bakken wells (MB) Three Forks wells (Benches: TF1, TF2, TF3) QEP acreage (1) As of June 30, 2016 20
  20. Q2 2016 Operations Update – QEP Resources, Inc. – slide 20
    PINEDALE OVERVIEW 2Q 2016 Program Highlights Profile (1) Continuing to refine drilling program in Net acres 17,480 more challenging area of the field Gross operated producing wells 1,075 Evaluating horizontal potential Average…
  21. Q2 2016 Operations Update – QEP Resources, Inc. – slide 21
    PINEDALE Pinedale Field Development Area QEP drilled well Other Operator wells Q2 2016 Completions (4 wells) QEP Drilling (8 Wells) (1) QEP Waiting on Completion (32 wells) (1) QEP acreage QEP acquired acreage (1) As of…
  22. Q2 2016 Operations Update – QEP Resources, Inc. – slide 22
    UINTA BASIN LOWER MESAVERDE OVERVIEW 2Q 2016 Program Highlights Profile (1) Strong results from recent vertical wells Net acres 110,300 Testing additional horizons Gross operated producing wells 106 Adding bypassed pay in existing…
  23. Q2 2016 Operations Update – QEP Resources, Inc. – slide 23
    UINTA BASIN LOWER MESAVERDE Producing Mesaverde vertical wells Mesaverde horizontal wells QEP acreage RW 4416A 8 wells completed Q1 2016 24

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