‘Tank’ completions in the Spraberry, Wolfcamp; and 20-24 re-fracs in the Haynesville
QEP Resources (ticker: QEP) holds acreage across the Williston basin, Pinedale Anticline, Uinta basin, Permian basin, and Haynesville shale. QEP’s acreage produces oil, NGLs, and dry gas—totaling in 13,090.3 MBOE cumulative production in Q1, 2017.
For 2017, QEP estimates that it will produce a cumulative of 57 to 60 MMBOE. Spurring this forecast is the current operation of seven drilling rigs: five drilling horizontal wells in the Permian, one drilling horizontal wells in the Williston, and one drilling vertical wells in the Pinedale Anticline.
During Q1, 2017, QEP completed and began production through nine gross operated wells in the Permian and 15 gross operated wells in the Williston basin.
Permian and “tank” completions
In its Permian assets—where it holds 76,125 net acres, QEP noted that it was seeing benefits in its tank-style completion design, wherein the company drills and completes several wells in half-mile wide blocks—in this case in the Spraberry or Wolfcamp. The wells are not brought online as they are completed, but rather once they have been finished, with the intent to minimize well-to-well interference.
Source: QEP Resources
In the County Line asset, QEP had 13 wells waiting on completion, with five completions already finished in the Spraberry shale. In the Mustang Springs asset, QEP finished four completions—one in the middle Spraberry, one in the Spraberry shale, one in the Wolfcamp A, and one in the Wolfcamp B, and had an additional two wells waiting on completion in the Wolfcamp A.
QEP has two pilot tests planned for its Mustang Springs assets, with the west pilot test expected to be completed in August, 2017 and the east pilot test expected to be completed in November, 2017.
Williston basin
During Q1, 2017 in its Williston basin assets—which total 116,200 net acres, QEP completed 15 operating wells—nine in the South Antelope assets and six in the Fort Berthold assets. Six wells were waiting on completion at the end of Q1, and the company expects that it will complete and begin producing out of eight wells by the end of Q2, 2017.
Source: QEP Resources
Haynesville
The Haynesville asset, totaling 48,100 net acres, was the site of QEP’s re-fracturing program on five wells. The company has been able to more than double its gross operated Haynesville production during the past nine months, despite not having a drilling rig active in the Haynesville. Within 2017, QEP plans to re-fracture 20 to 24 wells in the Haynesville.
Source: QEP Resources
Pinedale
In its Pinedale asset, which is 17,400 net acres, QEP will be focusing its well completions efforts in Q2, Q3, and Q4 of 2017—and currently has 15 wells waiting on completion in that area.
QEP Resources is presenting at EnerCom’s The Oil & Gas Conference® 22
QEP will be a presenting company at the upcoming EnerCom conference in Denver, Colorado—The Oil & Gas Conference® 22.
The conference is EnerCom’s 22nd Denver-based oil and gas focused investor conference, bringing together publicly traded E&Ps and oilfield service and technology companies with institutional investors. The conference will be at the Denver Downtown Westin Hotel, August 13-17, 2017. To register for The Oil & Gas Conference® 22 please visit the conference website.
