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2Q 2019 Earnings Presentation – QEP Resources, Inc.

QEP Resources, Inc. · Aug 7, 2019 · 18 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 2019 Earnings Presentation – QEP Resources, Inc. – slide 1
    Investor Presentation August 2019
  2. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 2
    Corporate Update Asset Overview(1) Highlights Williston Basin Net Acres: 94,755 2Q19: 2,962.4 Mboe Concluded formal strategic alternatives review process Path forward is a corporate strategy, which prioritizes balancing growth…
  3. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 3
    QEP Priorities Go forward strategy: Balance growth and organic Free Cash Flow (FCF) Organic FCF yield of 10%+ in 2020, while growing oil 58% yearoveryear Reduce leverage / strengthen balance sheet Through FCF generation and senior…
  4. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 4
    2019 Updated Guidance(1) 3Q 2019 Guidance 2019 Updated Guidance Oil & Condensate Production (MMBbl) 5.2 5.4 21.0 21.5 Gas Production (Bcf) 5.8 6.2 28.0 30.0 NGL Production (MMBbl) 0.9 1.1 4.25 4.5 Total oil equivalent production (MMBoe)…
  5. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 5
    Transitioning to a Low Cost Operator QEP is Focused on Optimizing Its Cost Structure 250.0 70.0 Yearly G&A Quarterly G&A 60.0 200.0 61.0 50.0 26.0 in millions 150.0 40.0 in millions 54.0 30.0 10.5 100.0…
  6. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 6
    Permian Basin Drilling and Completion Improvement Shorter Drill Times Lateral Length Completed per Day per Frac Crew 9,500 20 Avg. Lateral Length Spud to TD 3,500 9,000 18 3,000 2,500 Feet 8,500 16 Days 2,000 Feet…
  7. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 7
    Permian Basin Drilling & Completion Cost Reductions Greater than 1 MM per well in D&C cost reductions 8,000 7,000 6,000 In Thousands 5,000 4,000 3,000 2,000 1,000 0 2018 Drill Comp 2H 2019 Forward D&C Cost…
  8. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 8
    Permian Basin Facility & Artificial Lift Cost Efficiencies Greater than 500K Per Well Equip Cost Improvement 1,800 1,500 1,200 In Thousands 900 600 300 2018 2H 2019 Forward Facility Artificial Lift(1) Economies of…
  9. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 9
    Permian Basin Water Infrastructure Water System Highlights QEP's low cost to treat produced water for delivery as highquality frac water represents a significant opportunity to generate additional cash flow from third parties…
  10. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 10
    Permian Basin Recent Mustang Springs DSU Performance (DSU 15) DSU 15 Production Performance DSU 15 Results 12,000 Early time production 10,000 significantly impacted by offset 10,000' Norm Oil Production (Bod) frac hits…
  11. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 11
    Permian Basin Recent Mustang Springs DSU Performance (DSU 14E) DSU 14E Production Performance DSU 14E Results 12,000 90day performance on 10,000 forecast 10,000' Norm Oil Production (Bod) 8,000 Incorporates updated spacing…
  12. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 12
    Permian Basin Recent Mustang Springs DSU Performance (DSU 13) DSU 13 Production Performance DSU 13 Results 12,000 50day performance exceeding 10,000 expectations 10,000' Norm Oil Production (Bod) 8,000 Enhanced flowback and…
  13. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 13
    Permian Basin 2020 Development Program 2020 Permian Plan Development plan is based on a two rig program 100% of drilling program in derisked County Line area 60% of 2020 program in proven Spraberry Shale Offset performance in Middle…
  14. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 14
    Williston Basin 2020 Development Program 2020 Williston Plan South Antelope Refrac Performance Development plan is based on a selective drilling 200,000 Most Recent Refracs and refrac program 180,000 Incremental Cum Oil (BO)…
  15. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 15
    QEP Resources 2018 2021 Overview Capital Expenditures Production (MMboe) 1,200 35.0 1,000 30.0 25.0 800 20.0 MMBoe in millions 600 15.0 400 10.0 200 5.0 0.0 2018A 2019F 2020F 2021F 2018A 2019F 2020F 2021F…
  16. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 16
    Appendix
  17. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 17
    Debt Maturity Schedule As of July 19, 2019 1,500 1,250 Revolving Credit 1,250 1,000 ( in millions) 5.25% 750 650.0 5.625% 5.375% 500.0 500.0 500 6.875% 397.6 250 6.80% 51.8 0 2018 2019 2020 2021 2022…
  18. 2Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 18
    Derivative Positions The following tables present QEP's volumes and average prices for its open production derivative positions as of July 19, 2019: Production Commodity Derivative Swaps Total Average Swap Price Year Index Volumes…

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