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QEP Resources Inc (QEP.N)

QEP.N on New York Stock Exchange

1.61USD
30 Nov 2020
Change (% chg)

$-0.16 (-9.04%)
Prev Close
$1.77
Open
$1.70
Day's High
$1.75
Day's Low
$1.55
Volume
758,033
Avg. Vol
647,316
52-wk High
$4.79
52-wk Low
$0.26

Latest Key Developments (Source: Significant Developments)

QEP Resources Posts Q3 Loss Per Share $0.20
Thursday, 29 Oct 2020 

Oct 28 (Reuters) - QEP Resources Inc ::QEP RESOURCES REPORTS THIRD QUARTER 2020 FINANCIAL AND OPERATING RESULTS.Q3 LOSS PER SHARE $0.20.Q3 EARNINGS PER SHARE ESTIMATE $0.02 -- REFINITIV IBES DATA.Q3 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.13 EXCLUDING ITEMS.SEES 2020 TOTAL OIL EQUIVALENT PRODUCTION 29.2 MMBOE - 30.1 MMBOE.QTRLY REVENUE $177.8 MILLION VERSUS $307.5 MILLION.Q3 REVENUE VIEW $228.3 MILLION -- REFINITIV IBES DATA.  Full Article

QEP Resources Reports Second Quarter 2019 Financial And Operating Results
Wednesday, 7 Aug 2019 

Aug 7 (Reuters) - QEP Resources Inc ::QEP RESOURCES REPORTS SECOND QUARTER 2019 FINANCIAL AND OPERATING RESULTS.Q2 EARNINGS PER SHARE $0.20.Q2 EARNINGS PER SHARE ESTIMATE $0.03 -- REFINITIV IBES DATA.Q2 ADJUSTED NON-GAAP LOSS PER SHARE $0.04 EXCLUDING ITEMS.ANNOUNCED REINSTATEMENT OF QUARTERLY DIVIDEND OF $0.02 PER SHARE.INCREASED FULL-YEAR PRODUCTION GUIDANCE FOR CRUDE OIL, NATURAL GAS AND NGL.OIL AND CONDENSATE PRODUCTION IN PERMIAN BASIN WAS 3.3 MILLION BARRELS (MMBBL) IN Q2 2019, AN INCREASE OF 2%.OIL AND CONDENSATE PRODUCTION IN PERMIAN BASIN WAS 3.3 MILLION BARRELS (MMBBL) IN Q2 2019.OIL EQUIVALENT PRODUCTION WAS 7.5 MILLION BARRELS OF OIL EQUIVALENT (MMBOE) IN Q2 2019, A DECREASE OF 47%.SEES Q3 TOTAL OIL EQUIVALENT PRODUCTION 7.1 - 7.5 MMBOE.SEES FY TOTAL OIL EQUIVALENT PRODUCTION 29.9 - 31.0 MMBOE.SEES Q3 OIL & CONDENSATE PRODUCTION 5.2 - 5.4 MMBBL; SEES FY OIL & CONDENSATE PRODUCTION 21.0 - 21.5 MMBBL.SEES FY TOTAL CAPITAL INVESTMENT (EXCLUDING PROPERTY ACQUISITIONS) $580.0 - $600.0 MILLION.  Full Article

QEP Resources And Elliott Management Enter Into Cooperation Agreement
Wednesday, 7 Aug 2019 

Aug 7 (Reuters) - QEP Resources Inc ::QEP RESOURCES AND ELLIOTT MANAGEMENT ENTER INTO COOPERATION AGREEMENT.QEP RESOURCES INC - QEP WILL CREATE A NEW FIVE-PERSON OPERATIONS COMMITTEE OF BOARD.QEP RESOURCES - PARTIES WILL WORK TOGETHER TO IDENTIFY BOARD NOMINEES AND TO AGREE UPON TWO NEW INDEPENDENT DIRECTORS TO BE APPOINTED TO QEP'S BOARD.QEP RESOURCES INC - PURSUANT TO COOPERATION AGREEMENT, ELLIOTT HAS AGREED TO CUSTOMARY STANDSTILL, VOTING, AND OTHER PROVISIONS.QEP RESOURCES - OPERATIONS COMMITTEE WILL BE CHAIRED BY QEP'S CHIEF EXECUTIVE OFFICER, TIM CUTT, AND WILL INCLUDE TWO OF CURRENT INDEPENDENT DIRECTORS.QEP RESOURCES INC - TWO NEW EXPECTED TO BE SEATED NO LATER THAN OCTOBER OF THIS YEAR.  Full Article

QEP Resources Q1 Loss Per Share Of $0.49
Thursday, 25 Apr 2019 

April 24 (Reuters) - QEP Resources Inc ::QEP REPORTS FIRST QUARTER 2019 FINANCIAL AND OPERATING RESULTS.Q1 LOSS PER SHARE $0.49.Q1 EARNINGS PER SHARE ESTIMATE $-0.02 -- REFINITIV IBES DATA.Q1 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.15 EXCLUDING ITEMS.INITIATED PLAN TO SIGNIFICANTLY REDUCE CORPORATE GENERAL AND ADMINISTRATIVE EXPENSE BY APPROXIMATELY 45%.DELIVERED OIL AND CONDENSATE PRODUCTION OF 2.9 MILLION BARRELS IN PERMIAN BASIN IN QUARTER, A 35% YEAR-OVER-YEAR INCREASE.QEP RESOURCES- EXPECT TO OPERATE AT GO-FORWARD STAFFING LEVELS BY MID-YEAR 2019, AT WHICH POINT WILL HAVE REDUCED TOTAL WORKFORCE BY ABOUT 60% SINCE FEB 2018.SEES Q2 TOTAL OIL EQUIVALENT PRODUCTION OF 6.8-7.2 MMBOE.SEES FY TOTAL OIL EQUIVALENT PRODUCTION OF 28.5 - 30.3 MMBOE.SEES FY TOTAL CAPITAL INVESTMENT (EXCLUDING PROPERTY ACQUISITIONS) OF $615 -$665 MILLION.  Full Article

QEP Resources Says Intends To Review Elliott's Takeover Proposal
Tuesday, 8 Jan 2019 

Jan 7 (Reuters) - QEP Resources Inc ::QEP RESOURCES CONFIRMS RECEIPT OF PROPOSAL FROM ELLIOTT.COMPANY'S BOARD OF DIRECTORS INTENDS TO REVIEW ELLIOTT'S PROPOSAL.RECEIVED A PRELIMINARY PROPOSAL FROM ELLIOTT MANAGEMENT CORP. TO ACQUIRE COMPANY.  Full Article

Elliott Makes Proposal To Acquire QEP Resources
Monday, 7 Jan 2019 

Jan 7 (Reuters) - Elliott Management Corp::ELLIOTT MAKES PROPOSAL TO ACQUIRE QEP RESOURCES INC, OFFERS $8.75 PER SHARE IN CASH.ELLIOTT MANAGEMENT CORPORATION - BELIEVES QEP REMAINS "DEEPLY UNDERVALUED" IN MARKET TODAY.ELLIOTT MANAGEMENT CORP - BELIEVE SALE OF CO WOULD BE BEST APPROACH TO DELIVER MAXIMUM VALUE TO SHAREHOLDERS.ELLIOTT -ON PROPOSAL TO QEP RESOURCES, SEES TO FINANCE PROPOSAL,RELATED FEES WITH AVAILABLE CASH, ASSUMPTION OF DEBT, DEBT FINANCING FROM 3RD-PARTY LENDERS.ELLIOTT MANAGEMENT - HAS ABOUT $35 BILLION OF CAPITAL UNDER MANAGEMENT, HAS MORE THAN ADEQUATE CAPITAL TO CONSUMMATE ACQUISITION OF QEP RESOURCES.ELLIOTT MANAGEMENT -PROPOSE QEP RESOURCES HIRE ADVISORS, FORM STRATEGIC REVIEW COMMITTEE TO OVERSEE PROCESS WITH ELLIOTT, POTENTIALLY OTHERS.ELLIOTT MANAGEMENT -ENCOURAGE QEP RESOURCES TO MAKE PREPARATIONS TO IMMEDIATELY ASSEMBLE DATA ROOM FOR PERMIAN ASSETS.ELLIOTT MANAGEMENT -PROPOSAL CONDITIONED ON CLOSURE OF HAYNESVILLE ASSET SALE, NOT CONDITIONED ON CLOSURE OF WILLISTON ASSET SALE.  Full Article

UPDATE 2-Shale producer Concho posts bigger Q2 loss on virus-induced oil rout

July 29 U.S. oil and gas producer Concho Resources Inc posted a bigger quarterly loss on Wednesday, hurt by a sharp decline in crude prices as the COVID-19 pandemic hammered global demand for the commodity and its refined products.