Table of Contents
Table of Contents 2
List of Tables 4
List of Figures 5
Company Snapshot 7
Key Information 7
Company Overview 7
QEP Resources Inc, Valuation and Financial Data 8
QEP Resources Inc, Share Price Performance 8
Share Price Performance, Q4, 2016-Q4, 2017 8
QEP Resources Inc, Key Valuation Metrics 9
Key Valuation Metrics, Q4, 2016-Q4, 2017 9
QEP Resources Inc, Quarterly Results of Oil & Gas Operations Per boe Produced 10
Results of Oil & Gas Operations Per boe Produced, Q4, 2016-Q4, 2017 10
Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2016-Q4, 2017 11
QEP Resources Inc, Quarterly E&P Costs Trends 12
Upstream Capital Expenditure, Q4, 2016-Q4, 2017 12
QEP Resources Inc, Quarterly Production Trends 13
QEP Resources Inc, Total Oil and Gas Production 13
Total Crude Oil and Natural Gas Production Trend, Q4, 2016-Q4, 2017 13
Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2016-Q4, 2017 15
QEP Resources Inc, Crude Oil Production 16
Total Crude Oil Production Trend, Q4, 2016-Q4, 2017 16
Crude Oil Production, By Country/Region, Q4, 2016-Q4, 2017 17
QEP Resources Inc, Natural Gas Production 18
Total Natural Gas Production Trend, Q4, 2016-Q4, 2017 18
Natural Gas Production, By Country/Region, Q4, 2016-Q4, 2017 19
QEP Resources Inc, Valuation and Financial Data, 2013-2017 20
QEP Resources Inc, Share Price Performance, 2013-2017 20
Share Price Performance, 2013-2017 20
Key Valuation Metrics, 2013-2017 21
QEP Resources Inc, Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2013-2017 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2013-2017 24
Total Crude Oil and Natural Gas Reserve Changes, 2013-2017 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2013-2017 27
Crude Oil Production and Reserves By Country/Region, 2013-2017 28
Crude Oil/Liquids Reserve Changes, 2013-2017 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2013-2017 31
Natural Gas Production and Reserves, By Country/Region, 2013-2017 33
Natural Gas Reserve Changes, 2013-2017 35
Total Crude Oil and Natural Gas Reserves Life Index 36
Total Crude Oil and Natural Gas Reserves Life Index, 2013-2017 36
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2013-2017 37
QEP Resources Inc, E&P Costs Trends 39
Allocation of the Upstream Capital Expenditure 39
Upstream Capital Expenditure, 2013-2017 39
Acquisition Costs By Country/Region, 2013-2017 41
Exploration and Development Costs, By Country/Region, 2013-2017 43
Oil and Gas Cost Per boe, US$/boe 45
Oil and Gas Cost Per boe, US$/boe, 2013-2017 45
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2013-2017 47
QEP Resources Inc, Reserve Replacement Ratio 49
Oil and Gas Production Replacement Ratio 49
Oil and Gas Production Replacement Ratio, 2013-2017 49
Oil and Gas Production Replacement Ratio, By Country/Region, 2013-2017 51
QEP Resources Inc, Results of Oil & Gas Operations Trend 55
Oil and Gas Revenue and Expenses 55
Oil and Gas Revenue and Expenses, 2013-2017 55
Oil and Gas Revenue and Expenses, By Country/Region, 2013-2017 57
Oil and Gas Revenue and Expenses, Per boe 62
Oil and Gas Revenue and Expenses, By boe, 2013-2017 62
Oil and Gas Performance Metrics 66
QEP Resources Inc, Land Holdings and Well Data 67
Developed and Undeveloped Acreage 67
Gross and Net Developed and Undeveloped Acreage, 2013-2017 67
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2013-2017 68
Well Statistics 71
Producible Oil and Gas Well, 2013-2017 71
Producible Oil and Gas Well, By Country/Region, 2013-2017 72
Exploration and Development Wells Drilled, 2013-2017 77
Exploration and Development Wells Drilled, By Country/Region, 2013-2017 79
Recent Developments 80
QEP Resources Inc – Recent Developments 80
Jul 25, 2018: QEP Resources Reports Second Quarter 2018 Financial And Operating Results And Provides Update On Its Strategic And Financial Initiatives 80
Jul 10, 2018: QEP Resources Announces Agreement To Sell Uinta Basin Assets For $155 Million 85
Apr 25, 2018: QEP Resources Reports First Quarter 2018 Financial And Operating Results 86
Feb 28, 2018: QEP Resources Announces Reports Fourth Quarter And Full Year 2017 Financial And Operating Results, And Provides Initial 2018 Guidance And Capital Investment Plan 91
Oct 25, 2017: QEP Resources Reports Third Quarter 2017 Financial And Operating Results 97
Jul 26, 2017: QEP Resources Reports Second Quarter 2017 Financial And Operating Results 101
Jul 24, 2017: John Wood Group Announces Director Declaration 107
Apr 26, 2017: QEP Resources Reports First Quarter 2017 Financial and Operating Results 107
Feb 22, 2017: QEP Resources Reports Fourth Quarter And Full Year 2016 Financial And Operating Results And Announces 2017 Capital Investment Plan And Guidance 111
Appendix 117
Methodology 117
Coverage 117
Secondary Research 117
Primary Research 118
Data Information Sources 118
Company Source 118
SEC/Other Regulatory Filings 118
Other Sources 118
Expert Panel Validation 118
Data Definition 118
Oil and Gas Reserves 118
Units of Measure 119
About GlobalData 120
Disclosure 120
Disclaimer 120
Table 1: QEP Resources Inc, Key Facts 7
Table 2: QEP Resources Inc, Share Price Performance, Q4, 2016-Q4, 2017 8
Table 3: QEP Resources Inc, Key Valuation Metrics, Q4, 2016-Q4, 2017 9
Table 4: QEP Resources Inc, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2016-Q4, 2017 10
Table 5: QEP Resources Inc, Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2016-Q4, 2017 11
Table 6: QEP Resources Inc, Upstream Capital Expenditure, Q4, 2016-Q4, 2017 12
Table 7: QEP Resources Inc, Total Crude Oil and Natural Gas, Production, Q4, 2016-Q4, 2017 14
Table 8: QEP Resources Inc, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2016-Q4, 2017 15
Table 9: QEP Resources Inc, Total Crude Oil Production, mmbbl, Q4, 2016-Q4, 2017 16
Table 10: QEP Resources Inc, Crude Oil Production, By Country/Region, mmbbl, Q4, 2016-Q4, 2017 17
Table 11: QEP Resources Inc, Total Natural Gas Production, bcf, Q4, 2016-Q4, 2017 18
Table 12: QEP Resources Inc, Natural Gas Production, By Country/Region, bcf, Q4, 2016-Q4, 2017 19
Table 13: QEP Resources Inc, Share Price Performance, 2013-2017 20
Table 14: QEP Resources Inc, Key Valuation Metrics, 2013-2017 21
Table 15: QEP Resources Inc, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 23
Table 16: QEP Resources Inc, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2013-2017 25
Table 17: QEP Resources Inc, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013-2017 26
Table 18: QEP Resources Inc, Crude Oil Production and Reserves Metrics, mmbbl, 2013-2017 27
Table 19: QEP Resources Inc, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2013-2017 29
Table 20: QEP Resources Inc, Crude Oil Reserve Changes, mmbbl, 2013-2017 30
Table 21: QEP Resources Inc, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 32
Table 22: QEP Resources Inc, Natural Gas Production and Reserves, By Country/Region, bcf, 2013-2017 34
Table 23: QEP Resources Inc, Natural Gas Reserve Changes, bcf, 2013-2017 35
Table 24: QEP Resources Inc, Oil and Gas Reserves Life Index, Years, 2013-2017 36
Table 25: QEP Resources Inc, Oil and Gas Reserves Life Index, By Country/Region, Years, 2013-2017 38
Table 26: QEP Resources Inc, Upstream Capital Expenditure, US$ mil, 2013-2017 40
Table 27: QEP Resources Inc, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2013-2017 42
Table 28: QEP Resources Inc, Exploration and Development Costs, By Country/Region, US$ mil, 2013-2017 44
Table 29: QEP Resources Inc, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2013-2017 46
Table 30: QEP Resources Inc, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2013-2017 48
Table 31: QEP Resources Inc, Oil and Gas Production Replacement Ratio, %, 2013-2017 49
Table 32: QEP Resources Inc, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2013-2017 54
Table 33: QEP Resources Inc, Revenue and Expenses, US$ mil, 2013-2017 56
Table 34: QEP Resources Inc, Revenue and Expenses, By Country/Region, US$ mil, 2013-2017 61
Table 35: QEP Resources Inc, Oil and Gas Revenue and Expenses, US$/boe, 2013-2017 62
Table 36: QEP Resources Inc, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2013-2017 65
Table 37: QEP Resources Inc, Oil and Gas Performance Metrics, 2013-2017 66
Table 38: QEP Resources Inc, Land Holdings (Developed and Undeveloped Acreage), Acres, 2013-2017 67
Table 39: QEP Resources Inc, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2013-2017 70
Table 40: QEP Resources Inc, Producible Oil and Gas Wells, 2013-2017 71
Table 41: QEP Resources Inc, Producible Oil and Gas Wells, By Country/Region, 2013-2017 76
Table 42: QEP Resources Inc, Exploratory and Developed Wells, 2013-2017 78
Table 43: QEP Resources Inc, Exploratory and Developed Wells, By Country/Region, 2013-2017 79
List of Figures
Figure 1: QEP Resources Inc, Share Price Performance, USD/Share, Q4, 2016-Q4, 2017 8
Figure 2: QEP Resources Inc, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2016-Q4, 2017 9
Figure 3: QEP Resources Inc, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2016-Q4, 2017 10
Figure 4: QEP Resources Inc, Upstream Capital Expenditure, US$ mil, Q4, 2016-Q4, 2017 12
Figure 5: QEP Resources Inc, Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2016-Q4, 2017 13
Figure 6: QEP Resources Inc, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2016-Q4, 2017 15
Figure 7: QEP Resources Inc, Total Crude Oil Production, mmbbl, Q4, 2016-Q4, 2017 16
Figure 8: QEP Resources Inc, Crude Oil Production, By Country/Region, mmbbl, Q4, 2016-Q4, 2017 17
Figure 9: QEP Resources Inc, Total Natural Gas Production, bcf, Q4, 2016-Q4, 2017 18
Figure 10: QEP Resources Inc, Natural Gas Production, By Country/Region, bcf, Q4, 2016-Q4, 2017 19
Figure 11: QEP Resources Inc, Share Price Performance, USD/Share, 2013-2017 20
Figure 12: QEP Resources Inc, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2013-2017 21
Figure 13: QEP Resources Inc, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 22
Figure 14: QEP Resources Inc, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2013-2017 24
Figure 15: QEP Resources Inc, Total Oil & Gas Production, By Country/Region, mmboe, 2013-2017 24
Figure 16: QEP Resources Inc, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2017 26
Figure 17: QEP Resources Inc, Crude Oil Production and Reserves Metrics, mmbbl, 2013-2017 27
Figure 18: QEP Resources Inc, Oil Reserves, End of Period, By Country/Region, mmbbl, 2013-2017 28
Figure 19: QEP Resources Inc, Oil Production, By Country/Region, mmbbl, 2013-2017 28
Figure 20: QEP Resources Inc, Crude Oil Reserve Changes, mmbbl, 2017 30
Figure 21: QEP Resources Inc, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 31
Figure 22: QEP Resources Inc, Gas Reserves, End of Period, By Country/Region, bcf, 2013-2017 33
Figure 23: QEP Resources Inc, Gas Production, By Country/Region, bcf, 2013-2017 33
Figure 24: QEP Resources Inc, Natural Gas Reserve Changes, bcf, 2017 35
Figure 25: QEP Resources Inc, Oil and Gas Reserves Life Index, Years, 2013-2017 36
Figure 26: QEP Resources Inc, Gas Reserve Life Index, By Country/Region, Years, 2013-2017 37
Figure 27: QEP Resources Inc, Oil & Gas Reserve Life Index, By Country/Region, Years, 2013-2017 37
Figure 28: QEP Resources Inc, Oil Reserve Life Index, By Country/Region, Years, 2013-2017 38
Figure 29: QEP Resources Inc, Upstream Capital Expenditure, US$ mil, 2013-2017 39
Figure 30: QEP Resources Inc, Proved Acquisition Costs, By Country/Region, US$ mil, 2013-2017 41
Figure 31: QEP Resources Inc, Unproved Acquisition Costs, By Country/Region, US$ mil, 2013-2017 41
Figure 32: QEP Resources Inc, Development Costs, By Country/Region, US$ mil, 2013-2017 43
Figure 33: QEP Resources Inc, Exploration Costs, By Country/Region, US$ mil, 2013-2017 43
Figure 34: QEP Resources Inc, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2013-2017 45
Figure 35: QEP Resources Inc, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2013-2017 47
Figure 36: QEP Resources Inc, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2013-2017 47
Figure 37: QEP Resources Inc, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2013-2017 48
Figure 38: QEP Resources Inc, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2013-2017 49
Figure 39: QEP Resources Inc, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2013-2017 51
Figure 40: QEP Resources Inc, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2013-2017 51
Figure 41: QEP Resources Inc, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2013-2017 52
Figure 42: QEP Resources Inc, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2013-2017 52
Figure 43: QEP Resources Inc, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2013-2017 53
Figure 44: QEP Resources Inc, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2013-2017 53
Figure 45: QEP Resources Inc, Revenue and Expenses, US$ mil, 2013-2017 55
Figure 46: QEP Resources Inc, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 57
Figure 47: QEP Resources Inc, Exploration Expenses, By Country/Region, US$ mil, 2013-2017 57
Figure 48: QEP Resources Inc, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 58
Figure 49: QEP Resources Inc, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 58
Figure 50: QEP Resources Inc, Oil & Gas Revenue, By Country/Region, US$ mil, 2013-2017 59
Figure 51: QEP Resources Inc, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 59
Figure 52: QEP Resources Inc, Production Costs, By Country/Region, US$ mil, 2013-2017 60
Figure 53: QEP Resources Inc, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2013-2017 60
Figure 54: QEP Resources Inc, Oil and Gas Revenue and Expenses, US$/boe, 2013-2017 62
Figure 57: QEP Resources Inc, Lifting Cost per boe, By Country/Region, US$/boe, 2013-2017 63
Figure 59: QEP Resources Inc, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2013-2017 63
Figure 60: QEP Resources Inc, Total DD&A per boe, By Country/Region, US$/boe, 2013-2017 64
Figure 61: QEP Resources Inc, Total Revenue per boe, By Country/Region, US$/boe, 2013-2017 64
Figure 62: QEP Resources Inc, Oil and Gas Performance Metrics, 2013-2017 66
Figure 63: QEP Resources Inc, Land Holdings (Developed and Undeveloped Acreage), Acres, 2013-2017 67
Figure 64: QEP Resources Inc, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2013-2017 68
Figure 65: QEP Resources Inc, Total Net Undeveloped Acreage, By Country/Region, Acres, 2013-2017 68
Figure 66: QEP Resources Inc, Total Gross Developed Acreage, By Country/Region, Acres, 2013-2017 69
Figure 67: QEP Resources Inc, Total Net Developed Acreage, By Country/Region, Acres, 2013-2017 69
Figure 68: QEP Resources Inc, Producible Oil and Gas Wells, 2013-2017 71
Figure 69: QEP Resources Inc, Gross Productive Gas Wells, By Country/Region, Number, 2013-2017 72
Figure 70: QEP Resources Inc, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2013-2017 72
Figure 71: QEP Resources Inc, Gross Productive Oil Wells, By Country/Region, Number, 2013-2017 73
Figure 72: QEP Resources Inc, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2013-2017 73
Figure 73: QEP Resources Inc, Net Productive Gas Wells, By Country/Region, Number, 2013-2017 74
Figure 74: QEP Resources Inc, Net Productive Oil & Gas Wells, By Country/Region, Number, 2013-2017 74
Figure 75: QEP Resources Inc, Net Productive Oil Wells, By Country/Region, Number, 2013-2017 75
Figure 76: QEP Resources Inc, Exploratory and Developed Wells, 2013-2017 77