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August 2017 Investor Presentation – QEP Resources, Inc.

QEP Resources, Inc. · Aug 21, 2017 · 30 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. August 2017 Investor Presentation – QEP Resources, Inc. – slide 1
    Investor Presentation August 2017
  2. August 2017 Investor Presentation – QEP Resources, Inc. – slide 2
    QEP Resources At A Glance 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 Undrawn 1.8 billion…
  3. August 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. August 2017 Investor Presentation – QEP Resources, Inc. – slide 4
    Recent Acquisition & Divestiture Activity
  5. August 2017 Investor Presentation – QEP Resources, Inc. – slide 5
    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…
  6. August 2017 Investor Presentation – QEP Resources, Inc. – slide 6
    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…
  7. August 2017 Investor Presentation – QEP Resources, Inc. – slide 7
    Pro Forma Permian Position Significant Core Opportunity Pro Forma Leasehold Pro Forma Advantages Martin Co, TX QEP Acreage Acquisition increases QEPs net acreage by nearly 50%, Acquisition Acreage adding to significant core northern…
  8. August 2017 Investor Presentation – QEP Resources, Inc. – slide 8
    Acquisition Well Density Assumptions 2017 Acquisition 28 46 Wells/Mile Upside Potential Lateral of Length Locations 7,500 303 41% 10,000 322 44% 12,500 108 14% Upside Potential Upside Potential Upside Potential (1)…
  9. August 2017 Investor Presentation – QEP Resources, Inc. – slide 9
    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:…
  10. August 2017 Investor Presentation – QEP Resources, Inc. – slide 10
    Divestiture of Pinedale Anticline Field Pinedale Divestiture Summary Profile(1) Entered into a definitive agreement to divest Pinedale Anticline field assets to Pinedale Energy Partners, LLC, an Net acres 17,400 affiliate of Oak Ridge…
  11. August 2017 Investor Presentation – QEP Resources, Inc. – slide 11
    Asset Overview
  12. August 2017 Investor Presentation – QEP Resources, Inc. – slide 12
    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…
  13. August 2017 Investor Presentation – QEP Resources, Inc. – slide 13
    Permian Basin Well Density Assumptions County Line Mustang Springs (1) Includes proven, probable and possible locations (2) Includes non-reserve locations Stacked pay opportunity across core Permian acreage position Large…
  14. August 2017 Investor Presentation – QEP Resources, Inc. – slide 14
    Permian Basin Tank-style Development Methodology Multiple stacked horizons from a single surface location Pressure Wall Large multi-well pads and advanced completion designs Wells completed in a top-down pattern Buffer…
  15. August 2017 Investor Presentation – QEP Resources, Inc. – slide 15
    Permian Basin County Line 2Q 2017 Activity Net Acres: 18,800 UL 7-2730 (16 Wells) UL 7-0213 Average Tank Lateral (5 Wells) Length: 7,327 Rig Count: 1 Average Lateral Length: 9,900 Average 24hr IP: 1,803 Boed Completions: 16…
  16. August 2017 Investor Presentation – QEP Resources, Inc. – slide 16
    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…
  17. August 2017 Investor Presentation – QEP Resources, Inc. – slide 17
    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…
  18. August 2017 Investor Presentation – QEP Resources, Inc. – slide 18
    Williston Basin South Antelope 2Q 2017 Activity Net Acres: 30,900 ND Levang (5 Wells) Rig Count: 1 Average Lateral Length: 9,786 Not on-line by end of QTR Completions: 5 Bakken (3) Three Forks 2 (2) Waiting on Completion: 3…
  19. August 2017 Investor Presentation – QEP Resources, Inc. – slide 19
    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:…
  20. August 2017 Investor Presentation – QEP Resources, Inc. – slide 20
    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,…
  21. August 2017 Investor Presentation – QEP Resources, Inc. – slide 21
    Haynesville 2Q 2017 Activity Completed eight refracs Average incremental 24-hour rate increase of 16.0 MMcfed per well Refrac program has increased Haynesville gross production by 146 MMcfed since inception 500 Actuals Base…
  22. August 2017 Investor Presentation – QEP Resources, Inc. – slide 22
    Pinedale Pinedale Divestiture Summary Profile(1) Entered into a definitive agreement to divest Pinedale Anticline field assets to Pinedale Energy Partners, LLC, an Net acres 17,400 affiliate of Oak Ridge Natural Resources, LLC, for…
  23. August 2017 Investor Presentation – QEP Resources, Inc. – slide 23
    Appendix
  24. August 2017 Investor Presentation – QEP Resources, Inc. – slide 24
    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…
  25. August 2017 Investor Presentation – QEP Resources, Inc. – slide 25
    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…
  26. August 2017 Investor Presentation – QEP Resources, Inc. – slide 26
    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…
  27. August 2017 Investor Presentation – QEP Resources, Inc. – slide 27
    Permian Basin Predictable Geology Across Acreage West SALE East Shale MUSTANG COUNTY RANCH 2017 LINE 13 miles SPRINGS 6 miles AREA 8 miles ACQUISITION Carbonate GR TVD GR TVD GR TVD GR TVD Spraberry Middle Spraberry Lower…
  28. August 2017 Investor Presentation – QEP Resources, Inc. – slide 28
    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 Year…
  29. August 2017 Investor Presentation – QEP Resources, Inc. – slide 29
    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…
  30. August 2017 Investor Presentation – QEP Resources, Inc. – slide 30
    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…

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