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Operations Update Second Quarter 2014 – QEP Resources, Inc.

QEP Resources, Inc. · Aug 6, 2014 · 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. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 1
    Operations Update Second Quarter 2014 August 6, 2014
  2. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 2
    QEP ENERGY ASSET OVERVIEW QEP Energy 2Q 2014 Production Revenues 10% Pinedale ND Anticline 34% WY Williston Basin 56% Uinta Basin CO UT Oil Natural Gas NGL QEP Resources 2013YE Proved Reserves OK Midcontinent/ SCOOP…
  3. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 3
    QEP RESOURCES CAPITAL ALLOCATION 2,000 1,800 4% 1,600 5% Corporate 1,400 11% Field Services 1,200 49% Exploratory drilling million 28% 1,000 54% Williston Uinta 800 9% 4% Pinedale 600 26% 7% 17% Permian…
  4. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 4
    QEP ENERGY EXECUTING ON TRANSITION TO OIL 90 4.5 80 4.0 70 3.5 Gas/Total production (Bcf/Bcfe) Oil/NGL production (MMBbl) 60 3.0 50 2.5 Bcfe (left axis) Natural Gas (left axis) 40 2.0 NGL (right axis) Oil (right…
  5. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 5
    QEP ENERGY EXECUTING ON TRANSITION TO OIL 16,000 14,000 12,000 Oil production (MMBbl) 10,000 8,000 6,000 4,000 2,000 - 2010 2011 2012 2013 2014F * 5 *2014F represents midpoint of guidance as of August 6, 2014
  6. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 6
    WILLISTON BASIN 109,000 NET ACRES QEP net production Approx. Eastern (Boepd) field boundary 40,000 35,000 30,000 25,000 20,000 Fort Berthold 15,000 10,000 5,000 0 South Antelope 20 Miles Bakken Formation well Three Forks…
  7. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 7
    WILLISTON BASIN SOUTH ANTELOPE 5,000 to 12,500-ft laterals Proved reserves of 86 MMBoe* Probable reserves of 36 MMBoe* Q2 Completions 117 Bakken/Three Forks PUD locations* 4-well pad (2 BKN / 2 TFK) Average PDP EUR of 1,070…
  8. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 8
    WILLISTON BASIN FORT BERTHOLD 5,000 to 12,500-ft laterals Proved reserves of 46 MMBoe* 78 Bakken/Three Forks PUD locations* EUR 300 to 900 MBoe/well (avg. 550 MBoe/well) *(Three Forks and Bakken) Eastern edge being defined by…
  9. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 9
    PERMIAN BASIN ACTIVITY 5 rigs drilling vertical well* 2 rigs drilling horizontal wells* 284 operated vertical PDP wells* Completed 14 vertical wells in Q2, 6 WOC Average gross peak rate 358 Boed** (70% oil) Atokaberry average…
  10. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 10
    PERMIAN BASIN OFFSET HORIZONTAL ACTIVITY 2 miles Wolfcamp B 24 hr IP = 613 Boepd Wolfcamp B 30-D Avg = 516 Boepd 24 hr IP = 1,029 Boepd 30-D Avg = 788 Boepd Wolfcamp D/ Cline Wolfcamp B 24 hr IP = 3,605 Boepd 24 hr IP = 630…
  11. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 11
    GREEN RIVER BASIN PINEDALE ANTICLINE QEP net production (MMcfepd) QEP PDP well 320 280 Other operators (No QEP interest) 240 200 QEP leasehold 160 120 80 40 1 Mile Proved reserves 1.56 Tcfe* 412 PUD locations on a…
  12. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 12
    PINEDALE SPUD TO TD DRILL TIMES CONTINUE TO DECLINE 64 61 45 42 34 27 22 16 14 13 12 11.3 Record 8.5 days 12
  13. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 13
    UINTA BASIN RED WASH LOWER MESAVERDE Proved reserves of 402 Geologic Age Formation Bcfe* UTAH Green River Approximately 250,000 net TERTIARY acres in the Uinta Basin Uinta Basin Wasatch Over 32,000 net acres in the Mesaverde…
  14. Operations Update Second Quarter 2014 – QEP Resources, Inc. – slide 14
    1,750 Gas Saturated Sandstones & Siltstones UINTA BASIN LOWER MESAVERDE HORIZONTAL POTENTIAL BRAIDED UPPER NESLEN Braided LOWER NESLEN Vertical testing shows potential for two horizontal targets in the western part of the…

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