NaveenS's  Instablog

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Product Manager - Derrick Petroleum Services. Working in Oil & Gas Industry for 5+ years. Contributed significantly for Database development for Upstream transactions ( Initially worked as a 'Research Analyst' at Reuters. LinkedIn Profile:... More
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  • QEP Loss Widens In Q4 On Severe North American Weather 0 comments
    Feb 26, 2014 9:10 AM | about stocks: QEP

    QEP Resources reported a net loss of $52 million in Q4-2013, compared to a loss of $23 million in Q4-2012. The wider loss was attributed to a fall in gas production, due to severe winter weather in North America within the quarter.

    Q4-2013 highlights:

    • Revenue of $715.5 million, up 2% YoY
    • Total production of 816 MMcfe/d, down 11% YoY; pulled down by reduced gas output
    • Gas production of 525 MMcf/d, down 21% YoY; partly offset by a 30% YoY growth in oil output to 33 Mbbl/d

    For 2014, the company forecast total production of 775-841 MMcfe/d, lower than the 847 MMcfe/d produced in 2013.

    QEP Commences Sale of Non-Core Mid-Con Assets

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: QEP
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