QEP Resources, Inc.

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SEC Filings

PRE 14A
QEP RESOURCES, INC. filed this Form PRE 14A on 03/09/2018
Entire Document
 

Determination of Peer Group

Our Compensation Committee maintains a peer group of companies, which consists of similarly sized, publicly traded oil and natural gas E&P companies that have similar operating and financial characteristics to us, as they represent QEP's primary competition for executive talent. With the assistance of our CEO and the Consultant, our Compensation Committee reviews the composition of the peer group annually to ensure that companies remain relevant for comparative purposes. The peer group is used for determining relative TSR performance under the PSU program, and as noted below, a subset of this peer group is used for benchmarking executive compensation.

The Compensation Committee referenced compensation data gathered from industry peers in 2016 in connection with its executive compensation decisions made in early 2017. The companies below were used in the 2017 PSU grant, with the only change from the prior year being the removal of Ultra Petroleum Corp. due to bankruptcy. A subset of these companies, in bold font below, was used for executive compensation benchmarking.

Antero Resources Corp.
Diamondback Energy Inc.
Oasis Petroleum Inc.
Cabot Oil & Gas Corp.
Encana Corp.
Range Resources Corp.
Carrizo Oil & Gas Inc.
Energen Corp.
Rice Energy Inc.
Chesapeake Energy Corp.
EP Energy Corp.
SM Energy Co.
Cimarex Energy Co.
EQT Corp.
Southwestern Energy Co.
Concho Resources Inc.
Gulfport Energy Corp.
Whiting Petroleum Corp.
Continental Resources Inc.
Laredo Petroleum Inc.
WPX Energy Inc.
Denbury Resources Inc.
Newfield Exploration Co.
 

Looking Ahead to 2018:
In July of 2017 our Compensation Committee reevaluated the peer group based on current industry dynamics and removed the following companies: Antero Resources Corp., Cabot Oil and Gas Corp., Chesapeake Energy Corp., Concho Resources Inc., Continental Resources Inc., Denbury Resources Inc., Encana Corp., EQT Corp., and Rice Energy Inc. We have historically used a subset of the relative TSR peer group to benchmark executive compensation to better reflect QEP's size in benchmarking compensation levels. However, the reconstituted peer group does not have companies significantly larger than QEP, so two groups are no longer necessary. The peer group below was used for benchmarking compensation for 2018 and for our 2018 TSR awards, with new companies denoted with an asterisk*.

Callon Petroleum Co.*
Gulfport Energy Corp.
PDC Energy Inc.*
Carrizo Oil & Gas Inc.
Jagged Peak Energy Inc.*
Range Resources Corp.
Centennial Resource Development Inc.*
Laredo Petroleum Inc.
RSP Permian Inc.*
Cimarex Energy Co.
Matador Resources Co.*
SM Energy Co.
Diamondback Energy Inc.
Newfield Exploration Co.
Southwestern Energy Co.
Energen Corp.
Oasis Petroleum Inc.
Whiting Petroleum Corp.
EP Energy Corp.
Parsley Energy Inc.*
WPX Energy Inc.
Extraction Oil & Gas Inc.*
 
 


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