QEP Resources, Inc.

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SEC Filings

QEP RESOURCES, INC. filed this Form 10-Q on 04/25/2018
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Forward-Looking Statements

The quarterly report contains information that includes or is based upon "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. We use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements include statements relating to, among other things:

focus on returns-focused growth and superior execution and strategies to achieve these objectives;
our Strategic Initiatives to transition to a pure-play Permian Basin company;
plans to grow oil and condensate production;
drilling and completion plans and strategies;
including anticipated benefits of our tank-style completion methodology;
acquiring acreage in the Permian Basin to add development opportunities and facilitate the drilling of long lateral wells;
estimated future payments to reimburse the buyer in the Pinedale Divestiture for certain deficiency charges related to the gas processing and NGL transportation and fractionation contracts;
expectations and assumptions regarding impact of oil, gas and NGL prices;
future development costs and funding for such costs;
factors affecting our decision to modify our development plans;
volatility of oil, gas and NGL prices and factors impacting such prices;
the conditions impacting the timing and amount of share repurchases under our share repurchase program;
the usefulness of non-GAAP financial measures;
our inventory of drilling locations;
aggregate purchase price and source of funding for, and the timing of the closing of, acquisitions of additional oil and gas interests in the Permian Basin pursuant to offers made in the fourth quarter of 2017;
evaluation of potential acquisitions and divestiture opportunities;
plans to market our assets in the Williston Basin, the Uinta Basin and Haynesville/Cotton Valley;
our balance sheet and liquidity position allowing us to grow oil production, provide financial flexibility, withstand commodity price volatility and fund our development projects, operations, capital expenditures and Strategic Initiatives;
adjustments to our capital investment program based on a variety of factors, including an evaluation of drilling and completion activities and drilling results;
amount and allocation of forecasted capital expenditures (excluding property acquisitions) and, plans for funding operations and capital investments;
impact of lower or higher commodity prices and interest rates;
focus on maintaining a sufficient liquidity position to ensure financial flexibility;
potential for asset impairments and factors impacting impairment amounts;
plans to recover or reject ethane from produced natural gas;
fair value estimates and related assumptions and assessment of the sensitivity of changes in assumptions, and critical accounting estimates, including estimated asset retirement obligations;
impact of global geopolitical and macroeconomic events and the monitoring of such events;
plans regarding derivative contracts, including the volumes utilized, and the anticipated benefits derived there from;
outcome and impact of various claims;
estimated amount of potential impairment of proved and unproved property, primarily in the Williston and Uinta basins;
delays in completion of wells, well shut-ins and volatility to operating results caused by multi-well pad drilling;
predictability and success of our drilling operations;
plans and ability to pursue acquisition opportunities;
oil exports from and imports to the U.S.;
sufficiency of our liquidity position to ensure financial flexibility and fund our operations and capital expenditures;
estimates of the amount of additional indebtedness we may incur under our revolving credit facility;
factors adversely affecting our liquidity;
changes in recorded goodwill;
redemption of senior notes;
factors impacting our ability to borrow and the interest rates offered;
loss contingencies;
implementation and impact of new accounting pronouncements;