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1Q 2019 Earnings Presentation – QEP Resources, Inc.

QEP Resources, Inc. · Apr 25, 2019 · 14 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. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 1
    Investor Presentation April 2019
  2. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 2
    1Q 2019 Operational Overview Asset Overview(1) 1Q 2019 Highlights Williston Basin Total Net Equivalent Production: 7,806.3 Mboe Net Acres: 114,100 Oil Production: 5,083.6 Mbbl 1Q19: 3,377.0 Mboe Gas Production: 9.2 Bcf NGL…
  3. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 3
    2019 Updated Guidance(1) 2Q 2019 Guidance 2019 Updated Guidance Oil & Condensate Production (MMBbl) 4.95 5.15 20.5 21.5 Gas Production (Bcf) 5.4 5.8 25.5 27.5 NGL Production (MMBbl) 0.9 1.1 3.7 4.2 Total oil equivalent production…
  4. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 4
    2019 Corporate Overhead Reset QEP is Focused on Optimizing Its Cost Structure 70.0 250.0 60.0 50.0 26.0 in millions 200.0 40.0 61.0 30.0 20.0 in millions 150.0 37.4 54.0 10.0 0.0 100.0 1Q'19A 2Q'19E…
  5. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 5
    Continuous Capital Efficiency Improvement in Permian Basin Lateral Footage Drilled per Year per Rig Average Drilled Lateral Length 300,000 10,000 9,000 250,000 8,000 200,000 7,000 Feet 6,000 Feet 150,000 5,000 4,000…
  6. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 6
    Continuous Capital Efficiency Improvement in Permian Basin Drilling & Completion Cost Improvement Longer Laterals / Shorter Drill Times 900.0 9,600 20 800.0 9,400 18 700.0 9,200 Lateral Length in Ft. 9,000 Per Lateral…
  7. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 7
    Current Density Wells (Drilled 2H17 to Present) Delivering as Expected Permian Basin Density Spraberry Shale Current Density(1) development DSUs are outpacing 250 10,000' Normalized Cum Production (MBOE) High Density(2) test DSUs…
  8. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 8
    Asset Overview
  9. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 9
    Midland Basin Profile(1) Net acres(2) 49,250 Gross operated producing wells 487/243 (Vertical/Horizontal) Average WI/average NRI 96 / 73% Proved reserves (MMboe)/% liquids(3) 308 / 87% Production Split oil/gas/NGL 71/14/15%…
  10. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 10
    Midland Basin 1Q 2019 Activity Well Progress (as of March 31, 2019) Gross Net Drilling 11 11.0 At total depth under drilling rig 3 3.0 Flo Pad (12 Wells) Avg. Lateral Length: 12,887 Waiting to be completed 28 28.0 All wells…
  11. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 11
    Williston Basin Profile(1) Net acres 114,100 Gross operated producing wells 394 Average WI/average NRI 86/69% Proved reserves (MMboe)/% liquids(2) 167 / 85% Production Split oil/gas/NGL 64/19/17% (1) As of March 31, 2019 (2)…
  12. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 12
    Williston Basin South Antelope 1Q 2019 Summary & Activity Spudded seven well Vegas pad Initial production expected in 4Q 2019 Vegas pad (7 Wells) Spudded in March 2019 1Q19 Drilling QEP Acreage as of 3/31/2019 13
  13. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 13
    Appendix
  14. 1Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 14
    Derivative Positions The following tables present QEP's volumes and average prices for its open production derivative positions as of April 19, 2019: Production Commodity Derivative Swaps Total Average Swap Price Year Index Volumes…

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