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December 2017 Investor Presentation – QEP Resources, Inc.

QEP Resources, Inc. · Dec 4, 2017 · 23 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. December 2017 Investor Presentation – QEP Resources, Inc. – slide 1
    Investor Presentation December 2017
  2. December 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 782.6 million of cash and cash equivalents as of September 30, 2017(1) Undrawn 1.8…
  3. December 2017 Investor Presentation – QEP Resources, Inc. – slide 3
    QEP Resources 3Q 2017 Financial & Operational Overview Asset Overview(1) 3Q 2017 Highlights Williston Basin Net Acres: 115,500 Total Net Equivalent Production: 14,124.1 Mboe 3Q17: 4,252.3 Mboe Oil Production: 4,827.1 Mbbl Gas…
  4. December 2017 Investor Presentation – QEP Resources, Inc. – slide 4
    QEP Resources 2017 Guidance(1) 2017 Current Forecast Oil Production (MMBbl) 19.5 - 20.0 Gas Production (Bcf) 165.0 - 170.0 NGL Production (MMBbl) 5.25 - 5.75 Total oil equivalent production (MMBoe) 52.3 - 54.1 Lease operating and…
  5. December 2017 Investor Presentation – QEP Resources, Inc. – slide 5
    Asset Overview
  6. December 2017 Investor Presentation – QEP Resources, Inc. – slide 6
    Midland Basin Profile(1) Net acres(2) 49,100 Gross operated producing wells 499 Average WI/average NRI 96 / 73% Proved reserves (MMboe)/% liquids(3) 148 / 88% Production Split oil/gas/NGL 72/13/15% Rig Count(4) 6 (1) As of…
  7. December 2017 Investor Presentation – QEP Resources, Inc. – slide 7
    Midland 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…
  8. December 2017 Investor Presentation – QEP Resources, Inc. – slide 8
    Midland Basin Tank-Style Development Allowing for Increased Densities Microseismic Study & Production Support 16 well/mile Density with Tank-Style Development Microseismic Study Performance of Well Density Tests As tank-style…
  9. December 2017 Investor Presentation – QEP Resources, Inc. – slide 9
    Midland Basin 3Q 2017 Activity Completions: 10 Spraberry Shale (6) Middle Spraberry (4) Waiting on Completion / Drilling Summary (1) Cole Pad (10 Wells) Avg. Lateral Length: 7,005 Spraberry Middle Wolfcamp Wolfcamp Flowing Back…
  10. December 2017 Investor Presentation – QEP Resources, Inc. – slide 10
    Midland Basin Acquisition Summary Acquisition Overview Pro Forma Leasehold Acquired crude oil and natural gas properties in QEP Acreage in Martin County, TX for 683.5 million 2017 Permian Acquisition Acreage 13,000 net acres(1) Over…
  11. December 2017 Investor Presentation – QEP Resources, Inc. – slide 11
    Williston Basin Profile(1) Net acres 115,500 Gross operated producing wells 384 Average WI/average NRI 85/68% Proved reserves (MMboe)/% liquids(2) 160 / 86% Production Split oil/gas/NGL 66/14/20% Rig Count 1 (1) As of…
  12. December 2017 Investor Presentation – QEP Resources, Inc. – slide 12
    Williston Basin South Antelope 3Q 2017 Activity Net Acres: 30,900 ND Levang (1 Well) Rig Count: 0 Lateral Length: 9,986 IP 30: 1,194 Boed Completions: 6 Bakken (4) Three Forks 2 (2) Waiting on Completion: 0 Otis (5 Wells)…
  13. December 2017 Investor Presentation – QEP Resources, Inc. – slide 13
    Williston Basin FBIR 3Q 2017 Activity Net Acres: 66,500 Rig Count: 1 Completions: 2 Bakken (1) Three Forks (1) Refracs: 4 Refracs (4 Wells) Waiting on Completion: 1 Avg. Incremental IP 30: 627 Boed Bakken (1) Drilling: 1 Three…
  14. December 2017 Investor Presentation – QEP Resources, Inc. – slide 14
    Haynesville Profile(1) Net acres 48,900 Gross operated producing wells(2) 130 Average WI/average NRI 89/68% (op) Proved reserves (Bcfe)/% liquids(3) 866 / 0% Production Split oil/gas/NGL 0/100/0% Rig Count 1 (1) As of…
  15. December 2017 Investor Presentation – QEP Resources, Inc. – slide 15
    Haynesville 3Q 2017 Activity Completed nine refracs Refrac program has increased Haynesville gross production by 215 MMcfed since inception Added drilling rig in September 2017 Drilling one 5,000 lateral before beginning 10,000…
  16. December 2017 Investor Presentation – QEP Resources, Inc. – slide 16
    Appendix
  17. December 2017 Investor Presentation – QEP Resources, Inc. – slide 17
    Midland & 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 5.2 0.8…
  18. December 2017 Investor Presentation – QEP Resources, Inc. – slide 18
    Midland Basin Well Density Assumptions Upside Potential Upside Potential Stacked pay opportunity across core Permian acreage position Large upside opportunity in both proven and unproven zones Nearly 1,900 potential future…
  19. December 2017 Investor Presentation – QEP Resources, Inc. – slide 19
    Midland Basin Mustang Springs Optimization & Pilot Tests Development Optimization Plans Parent well tests Provide baseline well performance in four zones MS, SS, WA and WB Density tests Drive ultimate spacing of each reservoir and…
  20. December 2017 Investor Presentation – QEP Resources, Inc. – slide 20
    Midland Basin Predictable Geology Across Acreage West SALE East Shale MUSTANG COUNTY RANCH 2017 SPRINGS AREA Carbonate LINE 13 miles 6 miles 8 miles ACQUISITION GR TVD GR TVD GR TVD GR TVD Spraberry Middle Spraberry Lower…
  21. December 2017 Investor Presentation – QEP Resources, Inc. – slide 21
    QEP Resources Derivative Positions The following tables present QEP's volumes and average prices for its open production derivative positions (excluding storage derivatives) as of October 20, 2017: Production Commodity Derivative Swap…
  22. December 2017 Investor Presentation – QEP Resources, Inc. – slide 22
    QEP Resources Debt Maturity Schedule As of October 25, 2017 2,000 1,750 1,800 Revolving 1,500 Credit ( in millions ) 1,250 1,000 6.875% 5.25% 5.375% 750 625.0 650.0 500.0 6.80% 6.80% 500 250 134.0 136.0 0 2017 2018 2019…
  23. December 2017 Investor Presentation – QEP Resources, Inc. – slide 23
    QEP Resources 2017 Annual Incentive Plan 2017 Goals 2017 Target Operational Performance - 25% Weighting Total Equivalent Production (MMBoe) 55.40 EBITDA per Boe1 14.29 Health, Safety and Environment Hazard Identification and…

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