-=QEP Resources (QEP) reported earnings on Wed 28 Feb 2018 (a/h)

QEP Resources reports Q4 (Dec) results, beats on revs 

• Reports Q4 (Dec) earnings of $1.13 per share, may not be comparable to the Capital IQ Consensus of ($0.08); revenues rose 7.3% year/year to $429 mln vs the $392.01 mln Capital IQ Consensus.
• "We expect to continue to make progress developing our Permian Basin assets in 2018 utilizing "tank-style" completions. We believe this approach maximizes the economic recovery of oil through the simultaneous development of multiple subsurface targets, while improving capital efficiency through shared surface facilities, which we believe will reduce per-unit operating costs and result in expanded operating margins and improve our returns on invested capital. Based on our current plan, which contemplates running five to six rigs and assumes commodity prices averaging $55 per barrel and $3 per MMBtu, we expect the Permian Basin assets will achieve operating cash flow neutrality in 2019, while delivering peer leading production growth."