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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.

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