Acquisition in the Core of the Northern Midland Basin Approximately 13,800 net acres in Martin County, TX Aggregate purchase price of 732 million, subject to customary purchase price adjustments Over 730 potential horizontal drilling…
Acquisition Summary Expanding in the Core Acquisition Overview QEP Acreage QEP has agreed to acquire crude oil and natural Acquisition Acreage gas properties in the core of the northern Midland Basin in Martin County, TX for…
Pro Forma Permian Position Significant Core Opportunity Pro Forma Leasehold Pro Forma Advantages Acquisition increases QEPs net acreage by nearly 50%, Martin Co, TX QEP Acreage adding to significant core northern Midland Basin…
Acquisition Well Density Assumptions 2017 Acquisition 28 46 Wells/Mile Upside Potential Lateral of Length Locations 7,500 303 41% 10,000 322 38% 12,500 108 21% Upside Potential Upside Potential Upside Potential…
Acquisition Strong Offset Well Performance QEP Acreage Martin Co, TX Acquisition Acreage WCA/WCB Exceeding 1 MMboe type curve at 165 days Normalized to 7,500 LL QEP ENERGY LS/WCA/WCB 4 wells avg. IP24: 1,384 boed avg. LL:…
Permian Basin Predictable Geology Across Acreage West SALE East Shale MUSTANG COUNTY RANCH 2017 SPRINGS Carbonate LINE 13 miles 6 miles AREA 8 miles ACQUISITION GR TVD GR TVD GR TVD GR TVD Spraberry Middle Spraberry Lower…