QEP Resources, Inc.

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SEC Filings

10-Q
QEP RESOURCES, INC. filed this Form 10-Q on 07/25/2018
Entire Document
 


 
Oil and condensate sales
 
Gas sales
 
NGL sales
 
Transportation and processing costs included in revenue
 
Oil and condensate, gas and NGL sales, as reported
 
(in millions)
 
Six Months Ended June 30, 2018
Northern Region
 
Williston Basin
$
368.1

 
$
18.2

 
$
26.5

 
$
(20.6
)
 
$
392.2

Uinta Basin
17.9

 
18.0

 
3.4

 

 
39.3

Other Northern
2.8

 
1.2

 
(0.1
)
 

 
3.9

Southern Region
 
 
 
 
 
 
 
 
 
Permian Basin
320.1

 
7.8

 
16.4

 
(4.5
)
 
339.8

Haynesville/Cotton Valley
0.6

 
154.3

 

 

 
154.9

Other Southern
(0.3
)
 
0.3

 

 

 

Total oil and condensate, gas and NGL sales
$
709.2

 
$
199.8

 
$
46.2

 
$
(25.1
)
 
$
930.1

 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2017(1)
Northern Region
 
Williston Basin
$
290.8

 
$
23.0

 
$
21.8

 
$

 
$
335.6

Pinedale
12.8

 
111.8

 
20.0

 

 
144.6

Uinta Basin
14.3

 
26.9

 
2.7

 

 
43.9

Other Northern
2.8

 
10.8

 
0.2

 

 
13.8

Southern Region
 
 
 
 
 
 
 
 
 
Permian Basin
116.2

 
6.8

 
6.9

 

 
129.9

Haynesville/Cotton Valley
0.6

 
89.2

 
0.2

 

 
90.0

Other Southern
0.2

 
0.2

 

 

 
0.4

Total oil and condensate, gas and NGL sales
$
437.7

 
$
268.7

 
$
51.8

 
$

 
$
758.2

_______________________
(1) 
Prior period amounts have not been adjusted under the modified retrospective method.

Note 3 – Acquisitions and Divestitures

Acquisitions

During the six months ended June 30, 2018, QEP acquired various oil and gas properties, which primarily included proved and unproved leasehold acreage in the Permian Basin for an aggregate purchase price of $45.1 million, subject to post-closing purchase price adjustments. Of the $45.1 million, $37.5 million was related to acquisitions from various persons who owned additional oil and gas interests in certain properties included in the 2017 acquisition of oil and gas properties in the Permian Basin (the 2017 Permian Basin Acquisition) on substantially the same terms and conditions as the 2017 Permian Basin Acquisition in the fourth quarter of 2017.


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