Excerpts from the earnings press release...
During the fourth quarter 2012, QEP Energy's Bakken/Three Forks net production averaged 18,348 Boed. The Company completed and turned to sales 11 operated wells, including two wells in the South Antelope Area (QEP Energy's average working interest 99%) and nine wells within the Fort Berthold Reservation (QEP Energy's average working interest 74%) during the fourth quarter. The South Antelope wells were both completed in the Three Forks Formation and had an average 24-hour initial production rate of 2,175 Boed. The Fort Berthold Reservation completions included five wells (QEP Energy's working interest 76%) on the Independence Pad (three Three Forks Formation and two Bakken Formation) with an average 24-hour initial production rate of 2,550 Boed; two wells on a pad just west of the Independence Pad (QEP Energy's working interest 75%, one Three Forks Formation and one Bakken Formation) with an average 24-hour initial production rate of 2,450 Boed; and two eastern delineation wells on a pad in T 148 N-R 91 W (QEP Energy's working interest 70%, one Three Forks Formation and one Bakken Formation) with an average 24-hour initial production rate of 965 Boed.
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• At the end of 2012, the Company operated 84 producing wells in the • At the end of the fourth quarter, QEP Energy had 11 operated wells drilling or at intermediate casing point and nine QEP Energy-operated wells awaiting completion (QEP Energy's average working interest 87%). The Company also had interests in 16 outside-operated wells being drilled (QEP Energy's average working interest 7%) and 23 outside-operated wells awaiting completion (QEP Energy's average working interest 3%) at the end of the fourth quarter. • At the end of 2012, QEP Energy had five rigs operating in the Bakken/Three Forks play (two in the South Antelope Area and three within the Source: QEP |
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