QEP - Bakken Divestiture 2018

Overview

  • Opportunity to acquire largely contiguous, highly economic ~97,700 net acres in the core of the Williston Basin (99% HBP)
  • Net production of ~44,000 boe/d (April 2018E)
  • Strong cash flow of ~$500 mm/yr (December 2017 annualized) from ~385 gross operated PDP wells
  • Flexible development plan with potential for greater than 2,300 highly economic gross drilling locations and / or ~350 refracs
    • QEP refracs generating over 650 mboe of incremental reserves per well
  • Significant, recent improvement in core Bakken / Three Forks well performance driven by completion optimization and longer laterals
    • Williston Basin’s best wells have been drilled and completed in close proximity to the Properties, by Marathon, WPX, and others within the last six months

Contacts

Please email the signed Confidentiality Agreement to qep.bakken@bmo.com

Contact Chelsea Neville at +1.713.546.9703 or any of the above individuals with questions.