QEP Resources (QEP) Tops Q2 EPS by 1c

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August 3, 2015 5:06 PM EDT

QEP Resources (NYSE: QEP) reported Q2 EPS of ($0.09), $0.01 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $608.6 million versus the consensus estimate of $556.92 million.

QEP 2015 Guidance

QEP Resources' full-year 2015 guidance and related assumptions are shown below. The Company's updated guidance assumes no acquisitions or divestitures and that QEP will not recover ethane from its produced gas for the entire year:

Guidance and Assumptions
20152015
Previous ForecastCurrent Forecast
QEP Energy oil production (MMbbl)17.0 - 18.518.0 - 19.0
QEP Energy NGL production (MMbbl)4.0 - 4.34.0 - 4.3
QEP Energy natural gas production (Bcf)165 - 175165 - 175
QEP Energy total equivalent production (Bcfe)291 - 312297 - 315
Lease operating and transportation expense (per Mcfe)$1.70 - $1.85$1.65 - $1.80
QEP Energy depletion, depreciation and amortization (per Mcfe)$2.70 - $3.00$2.60 - $2.90
Production and property taxes, % of field-level revenue8.5% - 9.0%8.5% - 9.0%
Figures below in millions
QEP Resources general and administrative expense(1)$170 - $185$170 - $185
QEP Resources capital investment$900 - $1,050$900 - $1,050
(1)Excludes pension curtailment and employee-related severance costs.
-- The Company expects capital investment in the second-half 2015 to decline from the first six months of 2015, as improved operational efficiencies are realized and lower service and supply costs are fully captured.

For earnings history and earnings-related data on QEP Resources (QEP) click here.


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