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2Q 2017 Investor Presentation – QEP Resources, Inc.

QEP Resources, Inc. · Jul 26, 2017 · 21 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. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 1
    Investor Presentation July 2017
  2. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 2
    QEP Resources A Leading Independent E&P Company Balanced & Diversified Upstream Portfolio Focused investment in core crude oil and natural gas plays Financial Strength 178.8 million of cash and cash equivalents as of June 30, 2017…
  3. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 3
    QEP Resources 2Q 2017 Financial & Operational Overview Asset Overview(1) 2Q 2017 Highlights Williston Basin Net Acres: 115,500 Total Net Equivalent Production: 13,860.6 Mboe 2Q17: 4,573.9 Mboe Oil Production: 4,870.3 Mbbl Gas…
  4. 2Q 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) 182.5 192.5 NGL Production (MMBbl) 5.75 6.25 Total oil equivalent production (MMBoe) 57.2 60.3 Lease operating and…
  5. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 5
    Permian Basin Profile(1) County Net acres 73,600 Line Gross operated producing wells 491 Woodford Average WI/average NRI 96 / 73% Play Proved reserves (MMboe)/% liquids(2) 148 / 88% Production Split oil/gas/NGL 75/11/14% Rig…
  6. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 6
    Permian Basin Well Density Assumptions County Line Mustang Springs (1) Includes proven, probable and possible locations (2) Includes nonreserve locations Stacked pay opportunity across core Permian acreage position Large…
  7. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 7
    Permian Basin Tankstyle Development Methodology Multiple stacked horizons from a single surface location Pressure Wall Large multiwell pads and advanced completion designs Wells completed in a topdown pattern Buffer…
  8. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 8
    Permian Basin County Line 2Q 2017 Activity Net Acres: 18,800 UL 72730 (16 Wells) UL 70213 Tank (5 Wells) Average Lateral Length: 7,327 Rig Count: 1 Average Lateral Length: 9,900 Average 24hr IP: 1,803 Boed Completions: 16…
  9. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 9
    Permian Basin Mustang Springs 2Q 2017 Activity Net Acres: 10,000 Rig Count: 4 Completions: 6 Cole Pad (6 Wells) Average Lateral Length: 7,087 Wolfcamp A (WA) (2) Initial Flowback: 1,169 Boed Wolfcamp B (WB) (4) Waiting on…
  10. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 10
    Williston Basin Profile(1) Net acres 115,500 Gross operated producing wells 377 Average WI/average NRI 86/69% Proved reserves (MMboe)/% liquids(2) 160 / 86% Production Split oil/gas/NGL 67/15/18% Rig Count 1 (1) As of June…
  11. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 11
    Williston Basin South Antelope 2Q 2017 Activity Net Acres: 30,900 ND Levang (5 Wells) Rig Count: 1 Average Lateral Length: 9,786 Not online by end of QTR Completions: 5 Bakken (3) Three Forks 2 (2) Waiting on Completion: 3…
  12. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 12
    Williston Basin FBIR 2Q 2017 Activity Net Acres: 66,500 Rig Count: 0 Bullet Pad (6 Wells) Completions: 3 Average Lateral Length: 10,325 Bakken (2) Average 24hr IP: 1,382 Boed Three Forks 1 (1) Waiting on Completion: 0 Drilling:…
  13. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 13
    Haynesville Profile(1) Net acres 48,000 Gross operated producing wells(2) 131 Average WI/average NRI 74/57% (op) Proved reserves (Bcfe)/% liquids(3) 866 / 0% Production Split oil/gas/NGL 0/100/0% (1) As of June 30, 2017,…
  14. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 14
    Haynesville 2Q 2017 Activity Completed eight refracs Average incremental 24hour rate increase of 16.0 MMcfed per well Refrac program has increased Haynesville gross production by 146 MMcfed since inception 500 Actuals Base…
  15. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 15
    Appendix
  16. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 16
    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…
  17. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 17
    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…
  18. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 18
    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…
  19. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 19
    QEP Resources Derivative Positions The following tables present QEP's volumes and average prices for its open production derivative positions as of July 21, 2017: Production Commodity Derivative Swap Positions Total Average Price…
  20. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 20
    QEP Resources Debt Maturity Schedule 2,000 Senior Notes Summary Maturity Amount Coupon Duration (yrs) 4/1/2018 133,998,000 6.800% 0.68 1,750 3/1/2020 135,968,000 6.800% 2.60 3/1/2021 625,000,000 6.875% 3.60 10/1/2022 500,000,000…
  21. 2Q 2017 Investor Presentation – QEP Resources, Inc. – slide 21
    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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