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qep resources inc (QEP) Details

QEP Resources, Inc. operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe. The company sells its gas, oil, and natural gas liquids to various customers, including wholesale marketers, industrial users, local distribution companies, midstream service providers, and utility companies. QEP Resources, Inc. was incorporated in 2010 and is headquartered in Denver, Colorado.

465 Employees
Last Reported Date: 02/20/19
Founded in 2010

qep resources inc (QEP) Top Compensated Officers

Executive VP & CFO
Total Annual Compensation: $1.2M
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Total Annual Compensation: $938.0K
Compensation as of Fiscal Year 2018.
qep resources inc
QEP Resources Reportedly Considers Sale After Elliott Proposal

QEP Resources, Inc. (NYSE: QEP) has drawn acquisition interest from The Blackstone Group L.P. (NYSE:BX) (BX), Whiting Petroleum Corporation (NYSE:WLL) (WLL), and Callon Petroleum Company (NYSE:CPE) (CPE), Bloomberg's Kiel Porter and Scott Deveau report, citing people familiar with the matter. QEP said in February 2019 that it would look into a sale after activist Elliott Management Corporation made a $2 billion offer to acquire QEP Resources, Porter and Deveau note. Elliott is still in the bidding for QEP, the authors note.

QEP Resources, Inc. Approves Company Proposal to Amend the Company’s Bylaws

QEP Resources, Inc. at its AGM held on May 14, 2019, approved a company proposal to amend the company’s bylaws.

Qep Resources, Inc. Announces Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2019; Revises Earnings and Production Guidance for the Full Year 2019 and Provides Production Guidance for the Second Quarter of 2019; Reports Impairment for the First Quarter Ended March 31, 2019

QEP Resources, Inc. announced unaudited consolidated earnings and operating results for the first quarter ended March 31, 2019. For the quarter, the company reported total revenues of USD 280.6 million against USD 428.9 million a year ago. Operating loss was USD 15.8 million against operating income of USD 21.4 million a year ago. Net loss was USD 116.7 million against net loss of USD 53.6 million a year ago. Basic loss per share was USD 0.49 against USD 0.22 a year ago. For the first quarter, the company reported impairment of USD 5.0 million against USD 0.7 million a year ago. For the quarter, the company’s Oil production was 5,083.6 Mbbl against 4,974.0 Mbbl a year ago. Gas production was 9.2 Bcf against 35.1 Bcf a year ago. NGL production was 1,178.8 Mbbl against 904.4 Mbbl a year ago. Total production was 7,806.3 Mboe against 11,724.6 Mboe a year ago. Average daily production was 86.7 Mboe against 130.3 Mboe a year ago. For the full year 2018, the company now expects to report Oil & condensate production in the range of 20.5 MMbbl – 21.5 MMbbl compared with previous guidance range of 20.5 MMbbl – 21.5 MMbbl. Gas production expected in the range of 25.5 Bcf – 27.5 Bcf compared with previous guidance range of 23.00 Bcf – 25.0 Bcf. NGL production expected in the range of 3.7 MMbbl – 4.2 MMbbl compared with previous guidance range of 3.7 MMbbl – 4.2 MMbbl. Total oil equivalent production expected in the range of 28.5 MMboe – 30.3 MMboe compared with previous guidance range of 28.0 MMboe – 29.9 MMboe. For the second quarter, the company now expects to report Oil & condensate production in the range of 4.95 MMbbl – 5.15 MMbbl, Gas production in the range of 5.4 Bcf – 5.8 Bcf, NGL production in the range of 0.9 MMbbl – 1.1 MMbbl, and total oil equivalent production in the range of 6.8 MMboe – 7.2 MMboe.

 

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