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Qep Resources Inc's Business Segments
Qep Resources Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Reportable Segments
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Largest Segment
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Total Revenue
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Regions Reported
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Annual Results
Revenue by Product & Service Category -
- Oil and Gas, Exploration and Production97.3%
- Oil and Condensate34%
- Natural gas2.5%
- Natural Gas Liquids2%
- Oil and Gas, Purchased1%
- Product and Service, Other0.3%
Revenue by Product & Service Category -
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Oil and Gas, Exploration and Production | $ 715 | 97.3% |
| Oil and Condensate | $ 250 | 34% |
| Natural gas | $ 18 | 2.5% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
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Description of Qep Resources Inc
QEP Resources, Inc. (QEP or the Company), is an independent natural gas and oil
exploration and production company. QEP is a holding company with three major
lines of business – gas and oil exploration and production, midstream field
services, and energy marketing
QEP Resources, Inc. is a multifaceted energy company primarily engaged in the exploration, production, and marketing of natural gas, oil, and natural gas liquids (NGLs). The company operates through several segments, each focusing on various components of the energy industry.
1. Exploration and Production (E&P)
The exploration and production activities of QEP Resources are conducted through its subsidiary, QEP Energy. This segment is primarily focused on the extraction of hydrocarbons in two main geographical areas:
- Rocky Mountain Region: This includes significant operations in Wyoming, Utah, Colorado, New Mexico, and North Dakota. Key areas of focus are:
- Pinedale Anticline: Known for its large reserves of natural gas, the Pinedale Anticline hosts a substantial inventory of development drilling locations.
- Jonah Field: Another significant gas play in western Wyoming, complementary to the Pinedale Anticline.
- Midcontinent Region: This includes operations in Oklahoma, Texas, and Louisiana. The focus is primarily on the exploration of plays characterized by resource extraction in various geological formations.
QEP Energy aims to identify, acquire, develop, and produce hydrocarbons from “resource plays.” Resource plays are large, continuous accumulations of hydrocarbons found in tight sands, shales, and coal seams. These plays often require a high-density well drilling approach to maximize output while minimizing the exploration risk due to a thorough understanding of the hydrocarbon accumulation in these areas.
Midstream Field Services
The midstream operations of QEP Resources are executed through QEP Field Services, which includes the transportation, gathering, processing, and treatment of natural gas. Key components include:
- Natural Gas Gathering: QEP Field Services owns and operates a network of gas gathering and processing facilities primarily located in the Rocky Mountain and Midcontinent regions.
- Partnerships:
- QEP Field Services holds a 78% interest in Rendezvous Gas Services, LLC (RGS), which operates gas gathering facilities in western Wyoming.
- It also owns 38% of Uintah Basin Field Services, LLC (UBFS) and 50% of Three Rivers Gathering, LLC, both significant players in eastern Utahs gas gathering sector.
- Pipeline Infrastructure: The FERC-regulated Rendezvous Pipeline Co. LLC, a subsidiary of QEP Field Services, operates a 21-mile pipeline that connects processing facilities to larger interstate transportation networks, facilitating the distribution of natural gas gathered from local producers.
Energy Marketing
The energy marketing segment of QEP focuses on the wholesale marketing and sales of natural gas, oil, and NGLs for both affiliate entities and third-party producers. Key aspects include:
- Market Focus: QEP Marketing emphasizes strategic markets in the Rocky Mountains, Pacific Northwest, and Midcontinent regions. The company aims to position itself close to production reserves and tap into major pipeline networks to enhance market accessibility.
- Transportation and Storage: QEP Marketing actively contracts for firm transportation capacities on pipelines and manages firm storage capacities at facilities like Clay Basin, a major underground gas storage site. It also operates an underground gas-storage reservoir via its subsidiary Clear Creek Storage Company, LLC.
- Price Management: Utilizing its storage and transportation infrastructure, QEP Marketing effectively manages seasonal price fluctuations in the Rocky Mountain region, ensuring both stability and profitability in its operations.
Conclusion
QEP Resources, Inc. plays a critical role in the energy sector through its diverse activities in exploration, production, midstream services, and energy marketing. With strategic operations across significant resource regions and a focus on both natural gas and oil, the company aims to leverage its extensive infrastructure and partnerships to optimize output and meet market demands effectively. The integration of its E&P, midstream, and marketing operations enhances its overall capability, allowing it to navigate the complexities of the energy marketplace while maintaining a strong position in the industry.
1. Exploration and Production (E&P)
The exploration and production activities of QEP Resources are conducted through its subsidiary, QEP Energy. This segment is primarily focused on the extraction of hydrocarbons in two main geographical areas:
- Rocky Mountain Region: This includes significant operations in Wyoming, Utah, Colorado, New Mexico, and North Dakota. Key areas of focus are:
- Pinedale Anticline: Known for its large reserves of natural gas, the Pinedale Anticline hosts a substantial inventory of development drilling locations.
- Jonah Field: Another significant gas play in western Wyoming, complementary to the Pinedale Anticline.
- Midcontinent Region: This includes operations in Oklahoma, Texas, and Louisiana. The focus is primarily on the exploration of plays characterized by resource extraction in various geological formations.
QEP Energy aims to identify, acquire, develop, and produce hydrocarbons from “resource plays.” Resource plays are large, continuous accumulations of hydrocarbons found in tight sands, shales, and coal seams. These plays often require a high-density well drilling approach to maximize output while minimizing the exploration risk due to a thorough understanding of the hydrocarbon accumulation in these areas.
Midstream Field Services
The midstream operations of QEP Resources are executed through QEP Field Services, which includes the transportation, gathering, processing, and treatment of natural gas. Key components include:
- Natural Gas Gathering: QEP Field Services owns and operates a network of gas gathering and processing facilities primarily located in the Rocky Mountain and Midcontinent regions.
- Partnerships:
- QEP Field Services holds a 78% interest in Rendezvous Gas Services, LLC (RGS), which operates gas gathering facilities in western Wyoming.
- It also owns 38% of Uintah Basin Field Services, LLC (UBFS) and 50% of Three Rivers Gathering, LLC, both significant players in eastern Utahs gas gathering sector.
- Pipeline Infrastructure: The FERC-regulated Rendezvous Pipeline Co. LLC, a subsidiary of QEP Field Services, operates a 21-mile pipeline that connects processing facilities to larger interstate transportation networks, facilitating the distribution of natural gas gathered from local producers.
Energy Marketing
The energy marketing segment of QEP focuses on the wholesale marketing and sales of natural gas, oil, and NGLs for both affiliate entities and third-party producers. Key aspects include:
- Market Focus: QEP Marketing emphasizes strategic markets in the Rocky Mountains, Pacific Northwest, and Midcontinent regions. The company aims to position itself close to production reserves and tap into major pipeline networks to enhance market accessibility.
- Transportation and Storage: QEP Marketing actively contracts for firm transportation capacities on pipelines and manages firm storage capacities at facilities like Clay Basin, a major underground gas storage site. It also operates an underground gas-storage reservoir via its subsidiary Clear Creek Storage Company, LLC.
- Price Management: Utilizing its storage and transportation infrastructure, QEP Marketing effectively manages seasonal price fluctuations in the Rocky Mountain region, ensuring both stability and profitability in its operations.
Conclusion
QEP Resources, Inc. plays a critical role in the energy sector through its diverse activities in exploration, production, midstream services, and energy marketing. With strategic operations across significant resource regions and a focus on both natural gas and oil, the company aims to leverage its extensive infrastructure and partnerships to optimize output and meet market demands effectively. The integration of its E&P, midstream, and marketing operations enhances its overall capability, allowing it to navigate the complexities of the energy marketplace while maintaining a strong position in the industry.