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
 


The following tables present QEP's volumes and average prices for its derivative positions as of July 20, 2018. Refer to Note 7 – Derivative Contracts in Part 1, Item 1 of this Quarterly Report on Form 10-Q for open derivative positions as of June 30, 2018.

Production Commodity Derivative Swaps
Year
 
Index
 
Total Volumes
 
Average Swap Price per Unit
 
 
 
 
(in millions)
 
 
Oil sales
 
 
 
(bbls)

 
($/bbl)

2018
 
NYMEX WTI
 
8.3

 
$
52.46

2019
 
NYMEX WTI
 
9.5

 
$
52.66

2020
 
NYMEX WTI
 
1.8

 
$
60.77

Gas sales
 
 
 
(MMBtu)

 
($/MMBtu)

2018
 
NYMEX HH
 
44.1

 
$
3.00

2019
 
NYMEX HH
 
43.8

 
$
2.86


Production Commodity Derivative Basis Swaps
Year
 
Index
 
Basis
 
Total Volumes
 
Weighted-Average Differential
 
 
 
 
 
 
(in millions)
 
 
Oil sales
 
 
 
 
 
(bbls)

 
($/bbl)

2018
 
NYMEX WTI
 
Argus WTI Midland
 
4.6

 
$
(0.99
)
2018
 
NYMEX WTI
 
Argus WTI Houston
 
0.2

 
$
6.30

2019
 
NYMEX WTI
 
Argus WTI Midland
 
4.7

 
$
(0.77
)
2019
 
NYMEX WTI
 
Argus WTI Houston
 
0.4

 
$
4.35

2020
 
NYMEX WTI
 
Argus WTI Midland
 
1.5

 
$
(1.01
)
Gas sales
 
 
 
 
 
(MMBtu)

 
($/MMBtu)

2018
 
NYMEX HH
 
IFNPCR
 
3.1

 
$
(0.16
)

In conjunction with the execution of the purchase and sale agreement for the Uinta Basin Divestiture, QEP, at the request of the buyer, entered into the derivative contracts listed below. Upon the closing of the sale in the third quarter of 2018, the derivative contracts will be novated to the buyer. Refer to Note 3 – Acquisitions and Divestitures, in Item I of Part I of this Quarterly Report on Form 10-Q for more information. The following tables present QEP's volumes and average prices for the Uinta Basin Divestiture derivative positions as of July 20, 2018.


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