QEP Resources, Inc.

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SEC Filings

8-K
QEP RESOURCES, INC. filed this Form 8-K on 07/25/2018
Entire Document
 


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. The following tables present QEP's volumes and average prices for the Uinta Basin Divestiture derivative positions as of July 20, 2018.

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

 
($/bbl)

2018
 
NYMEX WTI
 
0.1

 
$
68.55

2019
 
NYMEX WTI
 
0.5

 
$
65.30

2020
 
NYMEX WTI
 
0.6

 
$
61.20

2021
 
NYMEX WTI
 
0.6

 
$
58.50

2022
 
NYMEX WTI
 
0.4

 
$
56.15

2023
 
NYMEX WTI
 
0.2

 
$
55.00

Gas sales
 
 
 
(MMBtu)

 
($/MMBtu)

2018
 
NYMEX HH
 
2.9

 
$
2.86

2019
 
NYMEX HH
 
13.4

 
$
2.74

2020
 
NYMEX HH
 
20.2

 
$
2.63

2021
 
NYMEX HH
 
19.3

 
$
2.59

2022
 
NYMEX HH
 
8.7

 
$
2.61

2023
 
NYMEX HH
 
5.4

 
$
2.68


Uinta Basin Divestiture Commodity Derivative Basis Swaps
Year
 
Index
 
Basis
 
Total Volumes
 
Weighted-Average Differential
Gas sales
 
 
 
 
 
(MMBtu)

 
($/MMBtu)

2018
 
NYMEX HH
 
IFNPCR
 
2.9

 
$
(0.63
)
2019
 
NYMEX HH
 
IFNPCR
 
13.4

 
$
(0.77
)
2020
 
NYMEX HH
 
IFNPCR
 
20.2

 
$
(0.77
)


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