Edition:
United States

Profile: QEP Resources Inc (QEP.N)

QEP.N on New York Stock Exchange

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17 Nov 2017
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QEP Resources, Inc., incorporated on May 17, 2010, is an independent crude oil and natural gas exploration and production company. The Company focuses on two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana). The Company conducts exploration and production activities in North America's hydrocarbon resource plays. The Company has an inventory of developed and undeveloped drilling locations in the Permian Basin in western Texas, the Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, the Uinta Basin in eastern Utah and other properties in Wyoming, Utah and Colorado. It sells gas volumes to wholesale marketers, industrial users, local distribution companies and utilities. It sells oil and natural gas liquid (NGL) volumes to refiners, marketers and other companies. As of December 31, 2016, the Company's estimated proved reserves were approximately 731.4 million barrels of oil equivalent (MMboe).

Northern Region

As of December 31, 2016, the Company owned 333.8 net productive wells in the Williston Basin. It has developed a majority of its acreage and continues its infill drilling program targeting the Bakken and Three Forks formations. As of December 31, 2016, it had one operated rig drilling in the Williston Basin. As of December 31, 2016, the Company owned 685 net productive wells in Pinedale. It has developed a majority of its acreage and continues its development program, targeting the Lance Pool, which is a tight gas sand reservoir. As of December 31, 2016, it had one operated rig drilling in Pinedale. The Company continues to evaluate how to develop the Uinta Basin field through horizontal and vertical development. As of December 31, 2016, it did not have any operated rigs drilling in the Uinta Basin. The remainder of the Company's Northern Region leasehold interests and proved reserves are distributed over various fields and properties in various states.

Southern Region

The Company has multiple targeted formations within its acreage in the Permian Basin and is developing oil producing zones, primarily in the Spraberry formations. It continues to acquire acreage in the basin. It continues to test additional formations and evaluate the density of its development program. As of December 31, 2016, it had three operated rigs drilling in the Permian Basin. It owns producing and undeveloped properties in Haynesville/Cotton Valley and additional lease rights that cover the overlying Hosston and Cotton Valley formations. As of December 31, 2016, it did not have any operated rigs drilling in the Haynesville/Cotton Valley area. The remainder of the Company's Southern Region primarily consists of small royalty interests over various properties.

Company Address

QEP Resources Inc

1050 17th St Ste 800
DENVER   CO   80265-2008
P: +1303.6726900
F: +1303.2949632

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