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QEP Resources Inc (QEP.N)

QEP.N on New York Stock Exchange

2.86USD
16 Oct 2019
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Latest Key Developments (Source: Significant Developments)

QEP Resources Reports 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 28.5 - 30.3 MMBOE.SEES Q2 TOTAL OIL EQUIVALENT PRODUCTION OF 6.8-7.2 MMBOE.SEES FY TOTAL CAPITAL INVESTMENT (EXCLUDING PROPERTY ACQUISITIONS) OF $615 -$665 MILLION.  Full Article

QEP Reports Fourth Quarter Results, Provides Initial 2019 Guidance
Thursday, 21 Feb 2019 

Feb 20 (Reuters) - QEP Resources Inc ::QEP REPORTS FOURTH QUARTER AND FULL YEAR 2018 FINANCIAL AND OPERATING RESULTS AND PROVIDES INITIAL 2019 GUIDANCE AND CAPITAL INVESTMENT PLAN.Q4 LOSS PER SHARE $2.66.Q4 ADJUSTED NON-GAAP LOSS PER SHARE $0.13 EXCLUDING ITEMS.Q4 EARNINGS PER SHARE ESTIMATE $0.03 -- REFINITIV IBES DATA.OIL EQUIVALENT PRODUCTION WAS 11.6 MMBOE FOR Q4 2018 COMPARED WITH 12.1 MMBOE FOR Q4 2017.Q1 AND FY 2019 GUIDANCE ASSUMES AN OIL PRICE OF $55 PER BARREL AND A NATURAL GAS PRICE OF $2.75 PER MMBTU.SEES Q1 2019 TOTAL OIL EQUIVALENT PRODUCTION 6.83 MMBOE -7.26 MMBOE.SEES 2019 TOTAL OIL EQUIVALENT PRODUCTION 28.0 MMBOE - 29.9 MMBOE.SEES 2019 TOTAL CAPITAL INVESTMENT, EXCLUDING PROPERTY ACQUISITIONS, OF $615.0 MILLION - $665.0 MILLION.QTRLY PERMIAN BASIN NET OIL EQUIVALENT PRODUCTION AVERAGED APPROXIMATELY 47.5 MBOED.QTRLY TOTAL REVENUE $410.5 MILLION VERSUS $429.0 MILLION.Q4 REVENUE VIEW $447.6 MILLION -- REFINITIV IBES DATA.SEES AVERAGE OF THREE RIGS IN PERMIAN BASIN FOR FIRST HALF OF 2019 AND TWO RIGS FOR THE SECOND HALF OF 2019.INTEND TO PURSUE MONETIZATION OF GAS MIDSTREAM INFRASTRUCTURE IN PERMIAN BASIN IN H1 2019.CONTINUE TO EVALUATE STRATEGIC OPTIONS FOR REMAINING PERMIAN MIDSTREAM INFRASTRUCTURE.  Full Article

QEP Resources Announces Review Of Strategic Alternatives
Thursday, 21 Feb 2019 

Feb 20 (Reuters) - QEP Resources Inc ::QEP RESOURCES ANNOUNCES REVIEW OF STRATEGIC ALTERNATIVES.QEP RESOURCES INC - HAS COMMENCED A COMPREHENSIVE REVIEW OF STRATEGIC ALTERNATIVES.QEP RESOURCES INC - INTENDS TO ENGAGE IN TALKS WITH VARIETY OF PARTIES THAT EXPRESSED INTEREST IN POTENTIAL DEAL, INCLUDING ELLIOTT MANAGEMENT CORP.QEP RESOURCES - COMPREHENSIVE REVIEW OF STRATEGIC ALTERNATIVES COULD RESULT IN MERGER OR SALE OF CO/OTHER TRANSACTION INVOLVING COMPANY OR ITS ASSETS.QEP RESOURCES INC - INTENDS TO SIGNIFICANTLY REDUCE ITS GENERAL AND ADMINISTRATIVE EXPENSE BY APPROXIMATELY 45%, WHEN COMPARING 2018 TO 2020.QEP RESOURCES INC - EXPECTS MAJORITY OF EXPENSE REDUCTIONS WILL BE IMPLEMENTED DURING FIRST HALF OF 2019.QEP RESOURCES INC - AGREED WITH VANTAGE ACQUISITION OPERATING COMPANY TO TERMINATE DEFINITIVE AGREEMENT TO SELL ASSETS IN WILLISTON BASIN TO VANTAGE.QEP RESOURCES INC - EVERCORE AND BMO CAPITAL MARKETS ARE ACTING AS FINANCIAL ADVISORS TO QEP.QEP RESOURCES-CO WILL CONTINUE TO OPERATE AND DEVELOP ITS ASSETS IN WILLISTON BASIN, INCLUDING COMPANY'S SOUTH ANTELOPE AND FORT BERTHOLD LEASEHOLDS.  Full Article

Elliott Makes Proposal To Acquire Qep Resources, Inc.
Monday, 7 Jan 2019 

Jan 7 (Reuters) - ELLIOTT ::ELLIOTT MAKES PROPOSAL TO ACQUIRE QEP RESOURCES, INC..ELLIOTT - OFFERS $8.75 PER SHARE IN CASH TO ACQUIRE QEP RESOURCES INC .  Full Article

QEP Resources - Charles Stanley To Retire From co
Thursday, 6 Dec 2018 

Dec 6 (Reuters) - QEP Resources Inc ::CHARLES B. STANLEY TO RETIRE FROM QEP RESOURCES; TIMOTHY J. CUTT NAMED PRESIDENT AND CEO.QEP RESOURCES INC - TIMOTHY "TIM" CUTT AS QEP'S PRESIDENT AND CHIEF EXECUTIVE OFFICER, EFFECTIVE JANUARY 15, 2019.QEP RESOURCES INC - CUTT WILL ALSO SERVE AS A MEMBER OF COMPANY'S BOARD..QEP RESOURCES INC - BOARD ALSO ANNOUNCED IT WILL SEPARATE ROLES OF CHAIRMAN AND CHIEF EXECUTIVE OFFICER.QEP RESOURCES INC - LEAD INDEPENDENT DIRECTOR DAVID A. TRICE HAS BEEN NAMED TO SUCCEED STANLEY AS CHAIRMAN OF BOARD.QEP RESOURCES INC - CUTT MOST RECENTLY SERVED AS CEO AT COBALT INTERNATIONAL ENERGY, INC.  Full Article

Resources Announces Agreement To Sell Northwest Louisiana Natural Gas Assets
Monday, 19 Nov 2018 

Nov 19 (Reuters) - QEP Resources Inc ::PRESS RELEASE - QEP RESOURCES ANNOUNCES AGREEMENT TO SELL NORTHWEST LOUISIANA NATURAL GAS ASSETS FOR $735.0 MILLION.QEP RESOURCES INC - INTEND TO USE PROCEEDS FROM THIS SALE TO FUND ONGOING DEVELOPMENT OF CORE PERMIAN ASSETS, REDUCE DEBT, RETURN CASH TO SHAREHOLDERS.QEP RESOURCES INC - BUYER HAS AGREED TO ASSUME ALL FIRM GAS TRANSPORTATION AGREEMENTS RELATED TO THESE ASSETS.QEP - DEAL PROVIDES FOR SALE OF ALL OF QEP'S HAYNESVILLE/COTTON VALLEY ASSETS IN NORTHWEST LOUISIANA TO AETHON III, AFFILIATE OF AETHON ENERGY.QEP RESOURCES INC - QEP WILL NOVATE NATURAL GAS DERIVATIVE CONTRACTS COVERING APPROXIMATELY 40 BCF OF GAS FOR LAST ELEVEN MONTHS OF 2019 TO BUYER.  Full Article

Qep Resources Q3 Earnings Per Share $0.03
Thursday, 8 Nov 2018 

Nov 7 (Reuters) - QEP Resources Inc ::QEP RESOURCES REPORTS THIRD QUARTER 2018 FINANCIAL AND OPERATING RESULTS AND PROVIDES UPDATE ON ITS STRATEGIC INITIATIVES.Q3 EARNINGS PER SHARE $0.03.Q3 EARNINGS PER SHARE VIEW $-0.01 -- THOMSON REUTERS I/B/E/S.Q3 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.17 EXCLUDING ITEMS.QTRLY TOTAL REVENUES $560.8 MILLION $390.1 MILLION.SEES FY 2018 OIL & CONDENSATE PRODUCTION 23.75 MMBB- 24.25 MMBB.OIL EQUIVALENT PRODUCTION WAS 14.4 MMBOE FOR THE THIRD QUARTER 2018 COMPARED WITH 14.1 MMBOE FOR THE THIRD QUARTER 2017.SEES FY 2018 GAS PRODUCTION 136.0 BCF - 140.0 BCF.SEES FY 2018 TOTAL OIL EQUIVALENT PRODUCTION 50.8 MMBOE - 52.2 MMBOE.ENTERED INTO A DEFINITIVE AGREEMENT TO SELL WILLISTON BASIN ASSETS FOR A PURCHASE PRICE OF UP TO $1.725 BILLION.REDUCED HEADCOUNT BY APPROXIMATELY 30% SINCE MARCH 1, 2018 TO PRESENT.SEES FY 2018 TOTAL CAPITAL INVESTMENT (EXCLUDING PROPERTY ACQUISITIONS) IN THE RANGE OF $1,140 MILLION- $1,190 MILLION.Q3 REVENUE VIEW $498.4 MILLION -- THOMSON REUTERS I/B/E/S.  Full Article

QEP Resources To Sell Williston Basin Assets For Up To $1.725 Bln
Wednesday, 7 Nov 2018 

Nov 7 (Reuters) - QEP Resources Inc ::PRESS RELEASE - QEP RESOURCES ANNOUNCES AGREEMENT TO SELL WILLISTON BASIN ASSETS FOR UP TO $1.725 BILLION.QEP RESOURCES - PURCHASE PRICE IS COMPRISED OF $1.65 BILLION IN CASH AND CONTRACTUAL RIGHTS TO RECEIVE UP TO $50 MILLION AND $25 MILLION IN VANTAGE COMMON STOCK.QEP RESOURCES INC - AGREEMENT PROVIDES FOR SALE OF ALL OF QEP'S ASSETS IN NORTH DAKOTA AND MONTANA.QEP RESOURCES - PROCEEDS TO FUND ONGOING DEVELOPMENT OF OUR CORE PERMIAN ASSETS, REDUCE DEBT, AND RETURN CASH TO SHAREHOLDERS THROUGH SHARE REPURCHASE.QEP RESOURCES - WILL BE ENTITLED TO EQUITY CONSIDERATION IF SHARE PRICE THRESHOLDS ARE MET AT ANY TIME DURING FIVE YEAR PERIOD POST DEAL CLOSE.  Full Article

QEP Resources Q1 Loss Per Share $0.22
Thursday, 26 Apr 2018 

April 25 (Reuters) - QEP Resources Inc ::QEP RESOURCES REPORTS FIRST QUARTER 2018 FINANCIAL AND OPERATING RESULTS.Q1 LOSS PER SHARE $0.22.Q1 EARNINGS PER SHARE VIEW $-0.19 -- THOMSON REUTERS I/B/E/S.Q1 ADJUSTED NON-GAAP LOSS PER SHARE $0.20 EXCLUDING ITEMS.QTRLY TOTAL REVENUES $428.9 MILLION VERSUS $420.1 MILLION.OIL EQUIVALENT PRODUCTION WAS 11.7 MMBOE FOR Q1 2018 COMPARED WITH 13.1 MMBOE FOR Q1 2017.SEES 2018 GAS PRODUCTION 135.0 BCF - 145.0 BCF.SEES 2018 OIL & CONDENSATE PRODUCTION 21.5 MMBBL - 23.0 MMBBL.SEES 2018 TOTAL OIL EQUIVALENT PRODUCTION 48.3 MMBOE - 51.9 MMBOE."EXPECT TO COMPLETE AND PUT ON PRODUCTION NINE MORE NET WELLS THAN ORIGINALLY FORECASTED DURING 2018".QEP - REDUCED CAPITAL ALLOCATED TO WILLISTON BASIN, HAYNESVILLE/COTTON VALLEY ASSETS FOR REST OF 2018 TO SUPPORT ADDITIONAL INVESTMENT IN PERMIAN BASIN.  Full Article

QEP Resources Files For Potential Mixed Shelf Offering
Saturday, 10 Mar 2018 

March 9 (Reuters) - QEP Resources Inc ::QEP RESOURCES INC FILES FOR POTENTIAL MIXED SHELF OFFERING; SIZE NOT DISCLOSED- SEC FILING‍​.  Full Article

Oil producer QEP ends sale process, settles with activist Elliott

QEP Resources will remain an independent oil and gas producer after ending a half-year process to sell itself without a deal, the company said on Wednesday, deciding instead to work with a rebuffed suitor to identify further cost savings.