QEP Resources Pure-Play Permian Basin Company Concentrating our efforts on our core Permian assets Contiguous 44,000 net acres in the core of the northern Midland Basin Avg. WI 95%/ NRI 72% Oil production growth of over 75% at the…
QEP Resources 2018 Strategic Initiatives Update Divesture of the Companys Williston and Uinta basin assets Uinta Basin divestiture for 155 million announced on July 10, 2018 Williston Basin divestiture process ongoing - rejected bids…
Midland Basin Outlook 2018 Key Statistics Production Profile Average of four and one-half operated rigs 725 - 775 million in drilling and completion capital 50 45 - 55 million of infrastructure capital 40 Up to 1,900 potential…
Midland Basin 2Q 2018 Activity Well Progress (as of June 30, 2018) Gross Net Kingsfield Pad (11 Wells) Drilling 25 24.8 Poe Pad (10 Wells) 3 wells Cleaned Up Avg. Lateral Length: 7,419 Avg. Lateral Length: 7,466 Still Cleaning Up…
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…