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Q1 2017 Investor Presentation – QEP Resources, Inc.

QEP Resources, Inc. · Apr 27, 2017 · 24 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. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 1
    Investor Presentation April 2017
  2. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 2
    QEP Resources A Leading Independent E&P Company Balanced & Diversified Upstream Portfolio Focused investment in core (onshore) oil and natural gas plays Financial Strength 338.4 million of cash and cash equivalents as of March 31,…
  3. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 3
    QEP Resources 1Q 2017 Financial & Operational Overview Asset Overview(1) 1Q 2017 Highlights Williston Basin Net Acres: 116,200 Total Equivalent Production: 13,090.3 Mboe 1Q17: 4,834.0 Mboe Oil Production: 4,682.7 Mbbl Gas…
  4. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 4
    QEP Resources 2017 Guidance(1) 2017 Current Forecast Oil production (MMBbl) 21.0 22.0 Gas Production (Bcf) 180.0 190.0 NGL Production (MMBbl) 5.75 6.25 Total oil equivalent production (MMBoe) 57.0 60.0 Lease operating and…
  5. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 5
    Permian Basin Profile(1) County Net acres 76,125 Line Gross operated producing wells 495 Woodford Average WI/average NRI 96% / 73% Play Proved reserves (MMboe)/% liquids(2) 148 / 88% Production Split oil/gas/NGL 72/14/14%…
  6. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 6
    Permian Basin Well Density Assumptions County Line Mustang Springs Stacked pay opportunity across core Permian acreage position Large upside opportunity in both proven and unproven zones More than 1,150 potential future locations…
  7. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 7
    Permian Basin TankStyle Completion Design Example of TankStyle Completion Design TankStyle Completion Methodology Two tanks used in design Spraberry tank and Wolfcamp tank Drill and complete all wells in tank before placing any…
  8. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 8
    Permian Basin County Line 1Q 2017 Activity Net Acres: 20,300 UL 70213 Tank (5 Wells) Rig Count: 2 (horizontal) Average Lateral Length: 9,900 Average 24hr IP: 1,803 Boed Completions: 5 Spraberry Shale Waiting on Completion: 13…
  9. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 9
    Permian Basin Mustang Springs 1Q 2017 Activity Net Acres: 10,000 Rig Count: 3 (horizontal) Completions: 4 Middle Spraberry (MS) (1) Spraberry Shale (SS) (1) Wolfcamp A (WA) (1) Wolfcamp B (WB) (1) Waiting on Completion: 2…
  10. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 10
    Permian Basin Mustang Springs Optimization & Pilot Tests Development Optimization Parent well tests Provide baseline well performance in four zones MS, SS, WA and WB Density tests Drive ultimate spacing of each reservoir and…
  11. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 11
    Williston Basin Profile(1) Net acres 116,200 Gross operated producing wells 369 Average WI/average NRI 87/70% Proved reserves (MMboe)/% liquids(2) 160 / 86% Production Split oil/gas/NGL 69/14/17% Current rig count 1 (1) As…
  12. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 12
    Williston Basin South Antelope 1Q 2017 Activity Net Acres: 30,900 Rig Count: 1 (horizontal) Foreman 132X Pad (9 Wells) Average Lateral Length: 9,575 Completions: 9 Average 24hr IP: 2,817 Boed Bakken (5) Three Forks 1 (2), Three…
  13. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 13
    Williston Basin FBIR 1Q 2017 Activity Net Acres: 66,200 Rig Count: N/A Completions: 6 Bullet 510E Pad 6 Wells (flowing back) Bakken (3) Three Forks 1 (3) All wells in early stages of flowback at the end of 1Q17 and did not have…
  14. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 14
    Haynesville Profile(1) Net acres 48,100 Gross operated producing wells 130 74/57% (op) Average WI/average NRI 37/29% (all) Proved reserves (Bcfe)/% liquids(2) 866 / 0% Production Split oil/gas/NGL 0/100/0% (1) As of March…
  15. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 15
    Haynesville 1Q 2017 Activity Completed five refracs Average incremental 24hour rate increase of 11.5 MMcfed Eight new nonop wells brought online in 1Q17 1Q17 Refracs Refrac program has increased Haynesville gross (5 wells)…
  16. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 16
    Haynesville Well Refrac Performance 500 QEP Operated Haynesville Production(1) Gross Gas Production Rate (MMCFED) 400 Refrac program 300 inception 200 70 MMcfed Increase 100 Actuals Base PDP Forecast 0 Jun11 Jun12…
  17. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 17
    Pinedale Profile(1) Net acres 17,400 Gross operated producing wells 1,113 Average WI/average NRI 59/45% Proved reserves (Bcfe)/% liquids(2) 964 / 13% Production Split oil/gas/NGL 4/88/8% Current rig count 1 (1) As of March…
  18. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 18
    Appendix
  19. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 19
    Permian & Williston Basins Detailed Well Cost Summary Permian Gross Well Costs (AFE) Drill & Complete Facilities & Artificial Area Target Formation Lateral Length (ft.) (mm) Lift (mm) County Line Spraberry Shale 7,500 5.0 0.8…
  20. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 20
    Permian Basin Mustang Springs Optimization & Pilot Test Timeline 2017 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Parent Wells MS, SS, Drilling Completion Parent Wells brought online in 1Q17 WA, WB (4 Wells) West Pilot Low…
  21. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 21
    Permian Basin Predictable Geology Across Acreage MUSTANG SPRINGS West East 10.5 miles 10.5 miles ACREAGE SALE RANCH COUNTY LINE Shale ACREAGE Carbonate Spraberry Middle Spraberry Lower Spraberry Spraberry Shale…
  22. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 22
    QEP Resources Derivative Positions The following tables present QEP's volumes and average prices for its open derivative positions as of April 21, 2017: Production Commodity Derivative Swap Positions Total Average Price Year Index…
  23. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 23
    QEP Resources Debt Maturity Schedule 2,000 1,750 1,800 MM 1,500 Revolving Credit 1,250 1,000 6.875% 5.25% 750 625.0 5.375% 650.0 500.0 500 6.80% 6.80% 250 134.0 136.0 0 2016 2017 2018 2019 2020 2021 2022 2023…
  24. Q1 2017 Investor Presentation – QEP Resources, Inc. – slide 24
    QEP Resources Estimated Proved Reserves Estimated Proved Reserves Estimated Proved Reserves by operating area Oil Gas NGL Total Total (MMBoe) % of Total PUD % Liquids % (MMBbl) (Bcf) (MMBbl) (MMBoe) (1) For the year ended December 31,…

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