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QEP Bolts On Permian Acreage; Q1 Output Down -11% YOY
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QEP Resources reported its Q1 2018 results.
AcquisitionsDuring the first quarter 2018, QEP acquired various oil and gas properties, which primarily included proved and unproved leasehold acreage in the Permian Basin, for an aggregate purchase price of $36.2 million, subject to customary post-closing adjustments.
Of the $36.2 million, $35.7 million was related to acquisitions of additional oil and gas interests in certain properties in the 2017 acquisition of oil and gas properties in the Permian Basin
QEP closed on the sale of several non-core assets for total proceeds of approximately $33.3 million during the first quarter 2018. In addition, in April 2018, the Company has provided data for potential buyers to evaluate for the divestiture of the Company's…
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