Skip to main content 3Q 2019 Earnings Presentation – QEP Resources, Inc. | Shale Experts
Loading...
Pm

3Q 2019 Earnings Presentation – QEP Resources, Inc.

QEP Resources, Inc. · Oct 24, 2019 · 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. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 1
    Investor Presentation October 2019
  2. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 2
    Corporate Update Asset Overview(1) 3Q 2019 Highlights Williston Basin Increased full-year production guidance for crude oil, Net Acres: 94,608 3Q19: 2,722.5 Mboe natural gas and NGL Lowered mid-point of capital expenditure guidance…
  3. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 3
    2019 Updated Guidance(1) 4Q 2019 Guidance 2019 Updated Guidance Oil & Condensate Production (MMBbl) 5.7 - 6.0 21.6 - 21.9 Gas Production (Bcf) 7.9 - 8.4 32.4 - 32.9 NGL Production (MMBbl) 1.3 - 1.5 5.0 - 5.2 Total oil equivalent…
  4. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 4
    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 26.0 150.0 in millions 40.0 in millions 54.0 30.0 10.8 100.0 7.2…
  5. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 5
    Permian Basin Drilling and Completion Improvement Shorter Drill Times Lateral Length Completed per Day per Frac Crew 12,000 20 Avg. Lateral Length Spud to TD 3,500 10,000 3,000 18 8,000 2,500 Feet 16 Days 2,000…
  6. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 6
    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 2019 D&C Cost Reductions…
  7. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 7
    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 2019 Facility Artificial Lift(1) Economies of Scale…
  8. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 8
    Permian Basin Mustang Springs DSU Performance (DSU 15) DSU 15 Production Performance DSU 15 Results 12000 Early time production 10000 significantly impacted by offset 10,000' Norm Oil Production (bopd) Frac Hits frac hits 8000…
  9. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 9
    Permian Basin Mustang Springs DSU Performance (DSU 14E) DSU 14E Production Performance DSU 14E Results 12000 180-day performance above forecast 10,000' Norm Oil Production (bopd) 10000 8000 Incorporates updated spacing…
  10. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 10
    Permian Basin Mustang Springs DSU Performance (DSU 13) DSU 13 Production Performance DSU 13 Results 14000 120-day performance 12000 exceeding expectations 10,000' Norm Oil Production (bopd) 10000 Enhanced flowback and 8000…
  11. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 11
    Permian Basin Mustang Springs DSU Performance (DSU 12) DSU 12 Production Performance DSU 12 Results 12000 Initial DSU performance is exceeding expectations 10,000' Norm Oil Production (bopd) 10000 8000 Faster cleanup…
  12. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 12
    Operational and Financial Seasonality Prioritizing Balanced Growth with Free Cash Flow Free Cash Flow Surplus 5.0 Permian Basin 160 Fluctuating Cash Flow Cash flow generation will fluctuate in 140 4.0 120 a predictable…
  13. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 13
    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…
  14. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 14
    QEP Priorities Generate organic Free Cash Flow Forecasting organic FCF of 120MM in 2020 (1) Continue to optimize capital expenditures and corporate overhead Organically reduce leverage / strengthen balance sheet Through FCF…
  15. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 15
    Appendix
  16. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 16
    Derivative Positions As of October 18, 2019 76% of remaining 2019* oil production covered at an average price of 56.83/Bbl 62% of 2020 forecasted oil production at an average price of 58.31/Bbl Production Commodity Derivative Swaps…
  17. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 17
    Debt Maturity Schedule As of October 21, 2019 1,500 Maturity Amount Coupon Duration (yrs) Unsecured 3/1/2020 51,753,000 6.800% 0.36 1,250 Revolving 3/1/2021 397,579,000 6.875% 1.36 Credit 10/1/2022 500,000,000 5.375% 2.95 1,250…
  18. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 18
    Permian Basin 2020 Development Program 2020 Plan Overview Two rig program 100% on County Line acreage 60% of program in proven Spraberry Shale formation 60 net wells put on production Develops 6% of remaining inventory Capital…
  19. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 19
    Over 15 Years of Inventory in the Permian Basin(1) County Line(2) Mustang Springs Forecasted Average Density (wells/mi) Area CL MS/RR Middle Spraberry 5-6 2-4 Lower Spraberry 4-5 4-5 Jo Mill - 4-5 Spraberry Shale 15-16 8 Dean -…
  20. 3Q 2019 Earnings Presentation – QEP Resources, Inc. – slide 20
    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 drilling and refrac program Incremental Cum Oil (BO)…

From the store

Browse maps, data & reports in the Shale Experts store