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Operations Update Fourth Quarter 2013 – QEP Resources, Inc.

QEP Resources, Inc. · Feb 25, 2014 · 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. Operations Update Fourth Quarter 2013 – QEP Resources, Inc. – slide 1
    Operations Update Fourth Quarter 2013 February 25, 2014
  2. Operations Update Fourth Quarter 2013 – QEP Resources, Inc. – slide 2
    QEP ENERGY ASSET OVERVIEW QEP Energy 4Q 2013 Production Revenues 10% Pinedale ND 35% Anticline WY Williston Basin 55% Uinta Basin CO Granite UT Wash Natural Gas Oil NGL QEP Resources 2013YE Proved Reserves OK Woodford…
  3. Operations Update Fourth Quarter 2013 – QEP Resources, Inc. – slide 3
    QEP RESOURCES CAPITAL ALLOCATION 2,000 1,800 5% 1,600 15% Corporate 5% 1,400 7% 11% Field Services Permian 1,200 17% Bakken MM 28% 1,000 50% 53% Uinta 20% 800 9% Pinedale Midcontinent 600 25% 26% 7% Haynesville 400…
  4. Operations Update Fourth Quarter 2013 – QEP Resources, Inc. – slide 4
    QEP ENERGY EXECUTING ON TRANSITION TO OIL 350 300 12% 20% 8% 10% 24% 250 6% 29% 8% 9% 200 3% 12% 9% Bcfe 150 86% 78% 89% 71% 64% 100 62% 50 - 2010 2011 2012 2013 4Q 2013 2014F Gas NGL equiv Oil equiv 4 4Q13…
  5. Operations Update Fourth Quarter 2013 – 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 2014 represents midpoint of guidance
  6. Operations Update Fourth Quarter 2013 – QEP Resources, Inc. – slide 6
    WILLISTON BASIN 116,000 NET ACRES QEP net production Approx. Eastern (Boepd) Fat Cat field boundary 30,000 25,000 20,000 15,000 Fort Berthold 10,000 5,000 0 South Antelope 20 Miles Bakken Formation well Three Forks Formation…
  7. Operations Update Fourth Quarter 2013 – QEP Resources, Inc. – slide 7
    WILLISTON BASIN SOUTH ANTELOPE 5,000 to 12,500-ft laterals Proved reserves of 86 MMBoe* Q4 Completions: Dodge 2-6-7TH (TRK) Probable reserves of 36 MMBoe* Dodge 3-6-7BH(BKN) Dodge 4-6-7BH (BKN) Q4 Completions: 117 Bakken/Three…
  8. Operations Update Fourth Quarter 2013 – 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 Q4 Completions: PUD locations* MHA 4-03-35H-150-92 (TFK) MHA 1-03-02H-149-92 (BKN) EUR 300 to 900 MBoe/well (avg. 550 MHA…
  9. Operations Update Fourth Quarter 2013 – QEP Resources, Inc. – slide 9
    PERMIAN BASIN HORIZONTAL POTENTIAL 2 miles 2 rigs currently drilling Diamondback: UL III 4 1H vertical wells Wolfcamp B 24 hr IP = 613 Boepd 30-D Avg = 516 Boepd 264 existing operated vertical PDP wells* PXD: Scharbauer Ranch 501H…
  10. Operations Update Fourth Quarter 2013 – QEP Resources, Inc. – slide 10
    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…
  11. Operations Update Fourth Quarter 2013 – QEP Resources, Inc. – slide 11
    PINEDALE SPUD TO TD DRILL TIMES CONTINUE TO DECLINE 70 26 64 61 24 60 22 20 50 18 45 42 Days, Spud to TD 16 Wells / Rig-Yr 40 34 14 12 30 27 10 22 20 8 16 14 12.8 11.9 6 10 4 Record 2 8.6 Days 0 0 2003…
  12. Operations Update Fourth Quarter 2013 – QEP Resources, Inc. – slide 12
    UINTA BASIN RED WASH LOWER MESAVERDE Proved reserves of 402 Geologic Age Formation Bcfe* UTAH Green River 218 PUD locations on TERTIARY Uinta Wasatch 40-acre density* Basin Mesaverde Vertical wells to average TD Blackhawk of…
  13. Operations Update Fourth Quarter 2013 – QEP Resources, Inc. – slide 13
    WOODFORD CANA QEP net production 120 (MMcfepd) Blaine Co. meramec 100 Dewey Co. 80 60 40 Kingfisher Co. 20 0 Custer Co. 8 Non Op wells completed Proved reserves 356 Bcfe* (Ave WI 19%) 169 PUD locations* TIER II: 3,198…

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