QEP Resources (QEP) Tops Q1 EPS by 7c

QEP Resources (NYSE: QEP) reported Q1 EPS of ($0.14), $0.07 better than the analyst estimate of ($0.21). Revenue for the quarter came in at $420.1 million versus the consensus estimate of $406.32 million.

• Completed five County Line high-density Spraberry Shale test wells, with an average peak 24-hour initial production rate (IP) of 1,803 Boed (average 9,900' lateral, 88% oil)
• Mustang Springs parent well performance exceeding Company expectations, with three wells establishing an average peak 24-hour IP of 1,384 Boed (average 7,345' lateral, 85% oil)
• Completed a nine-well pad on South Antelope with an average peak 24-hour IP of 2,817 Boed (average 9,575' lateral, 73% oil)
• Refractured five wells in the Haynesville Shale, with an average incremental 24-hour rate increase of 11.5 MMcfed

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

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