Williston Basin net oil equivalent production averaged approximately 47.6 Mboed (83% liquids) during the third quarter 2018, a 3% decrease compared with the second quarter 2018 and a 3% increase compared with the third quarter 2017.
The Company plans to complete four additional refracs on South Antelope during the remainder of 2018. Current average gross QEP-operated Williston Basin refrac costs are approximately $5.3 million per well.
At the end of the third quarter 2018, the Company had no drilling rigs in the Williston Basin.
Slides 15-17 in the November 2018 Investor Presentation depict QEP's acreage and activity in the Williston Basin.
Haynesville/Cotton Valley net gas equivalent production averaged approximately 296.9 MMcfed (49.5 Mboed) (0% liquids) during the third quarter 2018, a 5% decrease compared with the second quarter 2018 and a 37% increase compared with the third quarter 2017.
The Company put one gross operated well on production during the third quarter 2018 (average working interest 100%). The well had a peak 24-hour IP rate of 34.0 MMcfed (100% gas) with a lateral length of 10,622 feet.
At the end of the third quarter, the Company had no drilling rigs in Haynesville/Cotton Valley.
Slides 18-19 in the November 2018 Investor Presentation depict QEP's acreage and activity in Haynesville/Cotton Valley.
Third Quarter 2018 Results Conference Call
QEP’s management will discuss third quarter 2018 results in a conference call on Thursday November 8, 2018, beginning at 9:00 a.m. EST. The conference call can be accessed at www.qepres.com. You may also participate in the conference call by dialing (877) 869-3847 in the U.S. or Canada and (201) 689-8261 for international calls. A replay of the teleconference will be available on the website immediately after the call through December 8, 2018, or by dialing (877) 660-6853 in the U.S. or Canada and (201) 612-7415 for international calls, and then entering the conference ID # 13683693. In addition, QEP’s slides for the third quarter 2018, with updated maps showing QEP’s leasehold and current activity for key operating areas discussed in this release, can be found on the Company’s website.
About QEP Resources, Inc.
QEP Resources, Inc. (NYSE:QEP) is an independent crude oil and natural gas exploration and production company with operations in two regions of the United States: the Southern Region (primarily in Texas and Louisiana) and the Northern Region (primarily in North Dakota). For more information, visit QEP's website at: www.qepres.com.