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
 


Drilling, Completion and Production Activities
The following table presents operated and non-operated wells in the process of being drilled or waiting on completion at June 30, 2018:
 
 
 
Operated
 
Non-operated
 
Drilling
 
Drilling
 
Waiting on completion
 
Drilling
 
Waiting on completion
 
Rigs
 
Gross
 
Net
 
Gross
 
Net
 
Gross
 
Net
 
Gross
 
Net
Northern Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Williston Basin

 

 

 

 

 
1

 

 
9

 
0.1

Uinta Basin

 

 

 

 

 

 

 

 

Other Northern

 

 

 

 

 

 

 

 

Southern Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Permian Basin(1)
5

 
25

 
24.8

 
27

 
26.5

 

 

 

 

Haynesville/Cotton Valley

 

 

 
1

 
1.0

 
3

 
0.2

 
7

 
0.3

Other Southern

 

 

 

 

 

 

 

 

____________________________
(1) 
The gross operated drilling well count in the Permian Basin includes 13 wells for which surface casing has been set, but as of June 30, 2018, did not have a rig drilling.

Each gross well completed in more than one producing zone is counted as a single well. Delays and well shut-ins resulting from multi-well pad drilling have caused and may continue to cause volatility in QEP's quarterly operating results. In addition, delays in completion of wells could impact planned conversion of PUD reserves to proved developed reserves. QEP had 28 gross operated wells waiting on completion as of June 30, 2018.

The following table presents the number of operated and non-operated wells completed and turned to sales (put on production) for the three and six months ended June 30, 2018:
 
Operated Put on Production
 
Non-operated Put on Production
 
Three Months Ended
 
Six Months Ended
 
Three Months Ended
 
Six Months Ended
 
June 30, 2018
 
June 30, 2018
 
June 30, 2018
 
June 30, 2018
 
Gross
 
Net
 
Gross
 
Net
 
Gross
 
Net
 
Gross
 
Net
Northern Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Williston Basin
11

 
10.1

 
11

 
10.1

 
2

 
0.1

 
2

 
0.1

Uinta Basin

 

 
2

 
2.0

 

 

 

 

Other Northern

 

 

 

 

 

 

 

Southern Region
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Permian Basin
37

 
36.1

 
68

 
67.1

 

 

 

 

Haynesville/Cotton Valley
1

 
1.0

 
3

 
3.0

 
3

 
0.1

 
9

 
0.5

Other Southern

 

 

 

 

 

 

 



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