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Barclays CEO Energy Power Conference – QEP Resources, Inc.

QEP Resources, Inc. · Sep 4, 2019 · 16 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. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 1
    Barclays CEO Energy-Power Conference September 4, 2019
  2. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 2
    Corporate Update Asset Overview(1) Highlights Williston Basin Net Acres: 94,755 2Q19: 2,962 Mboe Concluded formal strategic alternatives review process Increased full year production guidance for crude oil, natural gas and NGL…
  3. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 3
    QEP Priorities Balance growth and organic Free Cash Flow (FCF) Conservatively grow oil production at a CAGR of 5% Targeting organic FCF of 120MM in 2020 at 55 oil Reduce leverage / strengthen balance sheet Through FCF generation and…
  4. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 4
    Transitioning to a Low Cost Operator QEP is Focused on Optimizing Its Cost Structure 250.0 Yearly G&A Completed majority of the planned reductions 200.0 Officer count down 50% 61.0 Employee Headcount down 60% Non-Employee expense…
  5. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 5
    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 Drill Comp D&C…
  6. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 6
    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…
  7. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 7
    Permian Basin Water Infrastructure Water System Overview Benefiting from highly competitive produced water treating costs Capacities can be expanded for minimal capital investment Evaluating JVs/partnerships with third parties…
  8. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 8
    Permian Basin Overview Midland Normalized Six Month Cumulative Oil Highly contiguous acreage position in the core of the Midland Basin Active development in multiple benches of the Spraberry and Wolfcamp Utilizing tank-style…
  9. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 9
    Permian Basin Recent Mustang Springs DSU Performance (DSU 14E) DSU 14E Production Performance DSU 14E Results 12000 150-day performance on 10000 forecast 10,000' Norm Oil Production 8000 Incorporates updated 6000 spacing…
  10. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 10
    Permian Basin Recent Mustang Springs DSU Performance (DSU 13) DSU 13 Production Performance DSU 13 Results 14000 85-day performance 12000 exceeding expectations 10,000' Norm Oil Production 10000 Enhanced flowback and 8000…
  11. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 11
    Permian Basin 2020 Development Program 2020 Plan Overview Two rig program 100% on County Line acreage 60% of program in proven Spraberry Shale 60-65 net wells put on production Develops 6% of remaining inventory Capital program is…
  12. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 12
    Williston Basin Overview Williston Normalized Six Month Cumulative Oil Highly contiguous acreage position in the core of the Williston Basin Bakken and Three Forks formations productive across acreage EVR Heat to map add heat…
  13. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 13
    Williston Basin 2020 Development Program 2020 Plan Overview South Antelope Refrac Performance 200,000 Most Recent Refracs Development plan is based on a selective 180,000 Incremental Cum Oil (BO) 160,000 drilling and refrac…
  14. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 14
    QEP Resources 2018 2021 Overview Capital Expenditures Capital 1,200 1,000 Down 44% in 2019 compared to 2018 800 Drill, complete and facility costs down in millions 1.7 million per well, a 20% 600 400 decrease from…
  15. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 15
    Operational and Financial Seasonality Prioritizing Balanced Growth with Free Cash Flow Cash Flow Surplus Cash Flow Surplus 5.0 Permian Basin 160 Fluctuating Cash Flow Cash flow generation will fluctuate 140 4.0 120 in…
  16. Barclays CEO Energy Power Conference – QEP Resources, Inc. – slide 16
    Summary QEP is committed to maximizing shareholder value Generate organic Free Cash Flow Deliver modest production growth Reduce leverage / strengthen balance sheet Return capital to shareholders Free Cash Flow Sensitivity…

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