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BRIEF-QEP announces closing of Pinedale divestiture
September 25, 2017 / 10:08 PM / 3 months ago

BRIEF-QEP announces closing of Pinedale divestiture

Sept 25 (Reuters) - QEP Resources Inc

* QEP announces closing of Pinedale divestiture

* QEP Resources Inc - ‍Company provided updated 2017 guidance and 2018 outlook​

* QEP Resources Inc - Company expects its pending Permian Basin acquisition to have minimal effect on 2017 guidance

* QEP Resources Inc - ‍Removed approximately 0.2 MMbbl of oil, 17.0 Bcf of gas, and 0.3 MMbbl of NGL from company’s 2017 production guidance​

* QEP Resources - For 2017, Co reduced its oil production guidance to a midpoint of 19.75 MMbbl, natural gas production guidance to a midpoint of 167.5 Bcf

* QEP Resources Inc - For 2017, company reduced its NGL production guidance to a midpoint of 5.5 MMbbl

* QEP Resources - ‍If crude oil prices $50.00/Bbl & natural gas at $3.00/MMbtu, sees 2018 capital investments to more closely align to forecasted cash flows​

* QEP Resources Inc - ‍Expects 2018 forecasted crude oil production growth to be in mid-teens compared with midpoint of updated 2017 guidance​

* QEP Resources - ‍For 2017, Co reduced natural gas production guidance to midpoint of 167.5 Bcf and NGL production guidance to a midpoint of 5.5 MMbbl​

* QEP Resources Inc - Expects to have an approximately one month delay in placing certain wells on production in 2017 in Permian basin

* QEP Resources Inc - Company’s 2017 capital investment program in Permian basin will not be reduced as a result of delay in pop dates

* QEP Resources Inc sees 2017 total capital investment (excluding property acquisitions) to be $1.05 billion to $1.10 billion Source text for Eikon: Further company coverage:

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