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1Q 2020 Earnings Results – QEP Resources, Inc.

QEP Resources, Inc. · Apr 29, 2020 · 13 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. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 1
    Investor Presentation April 2020
  2. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 2
    QEP Resources COVID-19 Response The novel coronavirus disease (COVID-19) has created unprecedented challenges for our industry, customers and employees. We took decisive action in March of 2020 to protect the core of our business and…
  3. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 3
    Updated 2020 Business Plan In light of the continued degradation in crude oil prices, QEP has taken significant steps to reduce activity across its operations, improve cash flow and preserve liquidity. Actions Taken: Reduced drilling…
  4. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 4
    Corporate Update Asset Overview(1) 1Q 2020 Highlights Williston Basin Exceeded oil production guidance due to better than Net Acres: 94,608 1Q20: 2,978.1 Mboe forecasted well performance from first full tank-style development DSU…
  5. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 5
    Permian Basin County Line University 0312E/W 0312W 0312E Early Time Observations Wolfcamp A and Spraberry Shale C-bench are 1/2 mile 1/2 mile outperforming expectations Middle Spraberry Spraberry Shale B-bench performing as Lower…
  6. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 6
    Permian Basin Average Well Performance UL 0312 DSU Wolfcamp A Spraberry Shale C 3,000 200,000 3,000 200,000 Well Count Well Count QEP 3 QEP 8 Cum 10,000' Norm Oil Production Cum 10,000' Norm Oil Production Peers* 238 Peers*…
  7. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 7
    Permian Basin Tank Development And Completion Design Impact Improved total recovery using full tank development and optimized completion design Supercharged reservoir conditions enables breaking more rock and accessing more reservoir…
  8. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 8
    Permian Basin County Line UL 0312 D&C Performance Lateral Length Completed per Day per Frac Crew Drilling, Completion & Location (/lateral ft) 4,000 900 3,500 800 3,000 700 2,500 2,000 600 1,500 500 1,000 400 500 0 300…
  9. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 9
    Williston Basin 1Q 2020 Activity QEP QEP 1Q 2020 Activity (Refrac) (Disco) Brought one of two South Antelope refracs online with ongoing operations for the second well Max incremental IP-24 of 1,668 bo/d Non-Op 27% reduction in LOE…
  10. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 10
    Debt Overview As of March 31, 2020 SENIOR NOTES (Unsecured): 1,500 Outstanding: 1.934 billion Unsecured Average coupon: 5.7% (109.4 million of annual interest expense) 1.25 billion Average duration: 3.3 years Credit Facility…
  11. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 11
    Liquidity Overview Credit Facility (CF) Overview Credit Facility Availability: in millions Unsecured Credit Facility NOT a Reserved Based Loan (RBL) Availability NO semi-annual redeterminations Commitment: 1.25 billion Nearly…
  12. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 12
    2021 Senior Notes Repayment Plan We expect that our cash on hand, generation of Free Cash Flow and the anticipated AMT credit refunds will be sufficient to fund the repayment of our 2021 Senior Notes 350 300 Less than 100…
  13. 1Q 2020 Earnings Results – QEP Resources, Inc. – slide 13
    Derivative Positions As of April 23, 2020 Production Commodity Derivative Swaps Total Average Swap Price Year Index Volumes per Unit Oil Sales (MMBbls) (/Bbl) 2020 NYMEX WTI 11.5 56.45 2020 Argus WTI Midland 1.1 57.30 2020 Argus WTI…

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