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EnerCom The Oil and Gas Conference – QEP Resources, Inc.

QEP Resources, Inc. · Aug 17, 2016 · 22 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. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 1
    INVESTOR PRESENTATION AUGUST 2016
  2. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 2
    QEP AT A GLANCE Balanced upstream portfolio Proved reserves of 3.6 Tcfe at YE 2015 in multiple US basins Product diversity Crude oil Natural gas Natural gas liquids Focused investment: Williston Basin crude oil Permian Basin…
  3. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 3
    QEP IS FOCUSED ON OPERATIONAL & CAPITAL EFFICIENCIES IN 2016 Maintain balance sheet strength with solid cash position Focus on continuing to drive down completed well costs and improving operating efficiency Reduce capital…
  4. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 4
    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 Liquids-rich plays UT CO Dry-gas play Oil NGL Natural…
  5. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 5
    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 6
  6. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 6
    PERMIAN BASIN ACQUISITION
  7. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 7
    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…
  8. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 8
    2016 PERMIAN ACQUISITION ACREAGE LEVERAGES PROXIMITY TO EXISTING OPERATIONS Horseshoe Atoll Midland Basin 5 9
  9. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 9
    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…
  10. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 10
    2016 PERMIAN ACQUISITION ACREAGE PRIMARY TARGETS 3,500 feet of oil-charged vertical section 660 750 660 750 1 mile Upside horizontal targets 11
  11. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 11
    OPERATIONS UPDATE
  12. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 12
    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…
  13. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 13
    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…
  14. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 14
    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…
  15. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 15
    PERMIAN BASIN STACKED PAY POTENTIAL 4,000 feet of oil-charged vertical section 1 Mile 16
  16. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 16
    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…
  17. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 17
    WILLISTON BASIN Fort Berthold South Antelope Bakken Formation wells Three Forks Formation wells Operated focus area QEP acreage 18
  18. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 18
    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 Completion…
  19. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 19
    WILLISTON BASIN HIGH DENSITY INFILL RESULTS 300,000 Original Completions: 30-35 Stgs; 3-4 MMlbs (60 Wells) High-Proppant Completions: 48-51 Stgs; 9.5-10 MMlbs (38 Wells) High-Density Infill Test: 48-51 Stgs; 9.5-10 MMlbs (16…
  20. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 20
    WILLISTON BASIN THREE FORKS 2ND & 3RD BENCH 350,000 Original Completions: 30-35 Stgs; 3-4 MMlbs (60 Wells) High-Proppant Completions: 46-51 Stgs; 9.5-14 MMlbs (38 Wells) Three Forks 2nd Bench (12 Wells) 300,000 Three Forks 3rd Bench…
  21. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 21
    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 22
  22. EnerCom The Oil and Gas Conference – QEP Resources, Inc. – slide 22
    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 Permian Basin crude oil Pinedale liquids-rich gas Uinta Basin Lower…

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