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Operations Update First Quarter 2014 – QEP Resources, Inc.

QEP Resources, Inc. · May 7, 2014 · 12 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 First Quarter 2014 – QEP Resources, Inc. – slide 1
    Operations Update First Quarter 2014 May 7, 2014
  2. Operations Update First Quarter 2014 – QEP Resources, Inc. – slide 2
    QEP ENERGY ASSET OVERVIEW QEP Energy 1Q 2014 Production Revenues 11% Pinedale ND Anticline WY Williston Basin 39% 50% Uinta Basin CO Granite UT Wash Oil Natural Gas NGL QEP Resources 2013YE Proved Reserves OK Woodford…
  3. Operations Update First Quarter 2014 – QEP Resources, Inc. – slide 3
    QEP RESOURCES CAPITAL ALLOCATION 2,000 1,800 5% 1,600 5% Corporate 1,400 11% Field Services 1,200 52% 28% Bakken MM 1,000 54% Uinta Mesaverde/GR Oil 800 9% Pinedale 4% Permian 600 26% 7% 15% Granite Wash/Cana 400 17%…
  4. Operations Update First Quarter 2014 – QEP Resources, Inc. – slide 4
    QEP ENERGY EXECUTING ON TRANSITION TO OIL 350 300 12% 20% 8% 10% 250 6% 31% 8% 9% 200 3% 8% Bcfe 150 86% 78% 89% 71% 100 61% 50 - 2010 2011 2012 2013 2014F Gas NGL equiv Oil equiv 2014 represents midpoint of…
  5. Operations Update First 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 2014 represents midpoint of guidance as of May 7, 2014
  6. Operations Update First Quarter 2014 – QEP Resources, Inc. – slide 6
    WILLISTON BASIN 116,000 NET ACRES QEP net production Approx. Eastern (Boepd) Fat Cat field boundary 35,000 30,000 25,000 20,000 15,000 Fort Berthold 10,000 5,000 0 South Antelope 20 Miles Bakken Formation well Three Forks…
  7. Operations Update First Quarter 2014 – QEP Resources, Inc. – slide 7
    WILLISTON BASIN SOUTH ANTELOPE Q1 Completions: 5,000 to 12,500-ft laterals Pogo 1-28-33BH (BKN) Pogo 2-28-33BH (BKN) Proved reserves of 86 MMBoe* Pogo 2-28-33TH (TFK) Probable reserves of 36 MMBoe* Pogo 28-33-27-34LL (TFK) 117…
  8. Operations Update First 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* Q1 Completions: EUR 300 to 900 MBoe/well (avg. 550 MHA 5-32-31H-150-90 (BKN) MBoe/well) (Three Forks and…
  9. Operations Update First Quarter 2014 – QEP Resources, Inc. – slide 9
    PERMIAN BASIN ACTIVITY 4 rigs currently drilling vertical wells (effective 5/1/2014) 1 rig currently drilling horizontal wells 274 operated vertical PDP wells Completed 10 vertical wells in Q1, 3 WOC Atokaberry average vertical…
  10. Operations Update First Quarter 2014 – 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 First Quarter 2014 – QEP Resources, Inc. – slide 11
    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 11
  12. Operations Update First Quarter 2014 – 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 40-acre density* Uinta Basin Wasatch Vertical wells to average TD Mesaverde of 11,000'…

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