QEP Sees Benefits Of ‘Tank-style’ Development Method

QEP Resources Inc. (NYSE: QEP) has now entered full tank-style development mode as it continues to transition into a pure-play Permian Basin company.

Charles Stanley, president and CEO of the Denver, Colo.-headquartered company, recently spoke about the company’s development style in the Permian during EnerCom: The Oil & Gas Conference, which livestreamed featured speakers online.

“We think by simultaneously developing all of the vertically stacked producing horizons of our acreage we maximize the recovery of oil,” Stanley said. “We maximize capital efficiency because we’re sharing surface facilities. … In addition by simultaneously developing all of the producing horizons we believe that we minimize the risk of well-to-well interference as we stimulate a large rock volume and then we flowback all the wells simultaneously.”

Another added benefit, according to Stanley, is minimizing the impact on wells that have already been drilled, completed and are producing—wells that would have to be shut in as offset locations are hydraulically fractured.