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Investor Presentation – QEP Resources, Inc.

QEP Resources, Inc. · Dec 31, 2014 · 20 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. Investor Presentation – QEP Resources, Inc. – slide 1
    Investor Presentation December 2014
  2. Investor Presentation – QEP Resources, Inc. – slide 2
    QEP AT A GLANCE Balanced upstream portfolio Proved reserves of 4.1 Tcfe at YE 2013 in multiple US basins Product diversity In 3Q14, crude oil represented 64% of QEP Energy field- level revenues and 35% of natural gas equivalent…
  3. Investor Presentation – QEP Resources, Inc. – slide 3
    2014 HIGHLIGHTS The Permian Basin acquisition closed on February 25, 2014 for total consideration of approximately 942 million Completed sale of QEP Field Services, including its ownership interest in QEPM (GP and LP) on December 2,…
  4. Investor Presentation – QEP Resources, Inc. – slide 4
    QEP ENERGY EXECUTING ON TRANSITION TO OIL 180 5.0 Bcfe 20:1 (left axis) 160 Natural Gas (left axis) 4.5 Bcfe 6:1 (left axis) 4.0 140 NGL (right axis) Gas/Total production (Bcf/Bcfe) Oil (right axis) 3.5 Oil/NGL…
  5. Investor Presentation – QEP Resources, Inc. – slide 5
    QEP ENERGY EXECUTING ON TRANSITION TO OIL 18 16 14 Oil production (MMBbl) 12 10 8 6 4 2 - 2010 2011 2012 2013 2014F (1) 5 (1) 2014F represents midpoint of guidance as of November 5, 2014
  6. Investor Presentation – QEP Resources, Inc. – slide 6
    QEP ENERGY ASSET OVERVIEW QEP Energy 3Q 2014 Production Revenues 8% Pinedale ND Anticline 28% WY Williston Basin 64% Uinta Basin CO UT Oil Natural Gas NGL QEP Resources 2013YE Proved Reserves OK Midcontinent/ SCOOP…
  7. Investor Presentation – QEP Resources, Inc. – slide 7
    WILLISTON BASIN 109,000 NET ACRES QEP net production Approx. Eastern (Boepd) field boundary 50,000 45,000 40,000 35,000 30,000 25,000 20,000 Fort Berthold 15,000 10,000 5,000 0 South Antelope 109,000 net acres Changed to high…
  8. Investor Presentation – QEP Resources, Inc. – slide 8
    WILLISTON BASIN SOUTH ANTELOPE Acquisition closed on 9/27/2012 Pre-tax PV-10 proved reserves of over 2.2 billion as of 12/31/2013 Total net capital spend (including acquisition costs) less EBITDA of 1.5 billion through 2013 Reduced…
  9. Investor Presentation – QEP Resources, Inc. – slide 9
    WILLISTON BASIN FORT BERTHOLD RESERVATION Strong well performance Substantial inventory for future development 5,000 to 12,500-ft laterals Proved reserves of 46 MMBoe (1) CURRENT ACTIVITY Number of rigs (as of 9/30/2014) 2…
  10. Investor Presentation – QEP Resources, Inc. – slide 10
    PERMIAN BASIN - ACREAGE LOCATION Vertical Rigs Deepest part of the Midland Basin Horizontal Rigs Andrews, TX Best Midland Basin horizontal well 24 hr. IP: 3,605 Boed Midland, TX 10 miles Deepest part of the…
  11. Investor Presentation – QEP Resources, Inc. – slide 11
    PERMIAN BASIN 5 horizontal and 306 vertical operated producing wells (1) Completed 21 vertical wells in third quarter 2014, 7 WOC (1) Completed 5 horizontal wells in Q3 (1 non- op), 2 WOC (1), 2 drilling Testing multiple…
  12. Investor Presentation – QEP Resources, Inc. – slide 12
    PERMIAN BASIN OFFSET HORIZONTAL ACTIVITY 2 miles Wolfcamp B Wolfcamp B 24 hr IP = 613 Boed 24 hr IP = 1,029 Boed 30-D Avg = 516 Boed 30-D Avg = 788 Boed Wolfcamp B 24 hr IP = 927 Boed 30-D Avg = 684 Boed Wolfcamp D/ Cline…
  13. Investor Presentation – QEP Resources, Inc. – slide 13
    STACKED HORIZONTAL DRILLING TARGETS N. Midland Basin Type log Estimated Original Oil in Place U. Spraberry 40 MMBO/Sq. Mile Estimated 300+ MMBO per M. Spraberry 60 MMBO/Sq. Mile square mile of original oil in L. Spraberry place…
  14. Investor Presentation – QEP Resources, Inc. – slide 14
    GREEN RIVER BASIN PINEDALE CURRENT ACTIVITY QEP PDP well Number of rigs (as of 9/30/2014) 4 Other operators (No QEP interest) Well cost (MM) 4.0 QEP leasehold Avg. gross EUR (Bcfe) 4.6 1 Mile Gross locations remaining (1) up…
  15. Investor Presentation – QEP Resources, Inc. – slide 15
    UINTA BASIN RED WASH LOWER MESAVERDE Proved reserves of 402 Bcfe (1) Geologic Age Formation Approximately 250,000 net UTAH Green River acres in the Uinta Basin Uinta TERTIARY Wasatch Basin Over 32,000 net acres in the Mesaverde…
  16. Investor Presentation – QEP Resources, Inc. – slide 16
    WHY INVEST IN QEP Well positioned for future crude oil growth Williston Basin Permian Basin Balanced and focused inventory of high-quality assets Strong balance sheet and ample liquidity 17
  17. Investor Presentation – QEP Resources, Inc. – slide 17
    DEBT MATURITY SCHEDULE 1,500 1,800 MM Revolving Credit 2.00% 1,250 1,000 6.875% 5.25% 750 625.0 650.0 5.375% 500.0 500 176.8 MM Senior Notes 6.80% 6.80% 250 6.05% 134.0 136.0 0 2013 2014 2015 2016 2017 2018 2019…
  18. Investor Presentation – QEP Resources, Inc. – slide 18
    COMMODITY DERIVATIVES QEP Energy - Gas, oil and NGL derivatives (as of 10/31/2014) (prices before deducts) 3.1 MMBbls Oil 93.54 / Bbl - WTI 8.1 MMBbls Oil 27.6 Bcf Gas 36.6 Bcf Gas 90.78 / Bbl - WTI 4.12 / Mcf 4.12 / Mcf…
  19. Investor Presentation – QEP Resources, Inc. – slide 19
    2014 GUIDANCE 2014 Guidance (as of 11/05/2014) Low High QEP Energy Oil production (MMBbl) 16.3 16.5 QEP Energy NGL production (MMBbl) 6.6 6.7 QEP Energy natural gas production (Bcf) 175 178 QEP Energy total equivalent production…
  20. Investor Presentation – QEP Resources, Inc. – slide 20
    QEP RESOURCES CAPITAL ALLOCATION (1) 2,000 1,800 1,600 Corporate 1,400 Exploratory drilling 1,200 51% Williston million 32% 1,000 57% Uinta 800 10% 4% Pinedale 600 Permian 29% 8% 17% Midcontinent/SCOOP 400 18%…

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