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QEP Resources Inc. has reported that Jay Neese, Executive Vice President, will retire at the end of the year. He has served QEP and its predecessor company for more than 35 years.
Chuck Stanley, Chairman, President and CEO of QEP Resources, commented: "Jay helped grow QEP Energy into the successful, independent oil and gas company that it is today. He led initiatives that resulted in growth and diversification of the company, and he was instrumental in our 2010 spin-off. On behalf of the Board of Directors, employees and shareholders of QEP, I would like to thank Jay for his many years of dedicated service and for his many contributions to our company."
Neese will be succeeded by Jim Torgerson, who is being promoted to Executive Vice President, QEP Energy, on September 1, 2013. Torgerson has been with QEP and its predecessor company for 10 years and most recently was QEP’s Senior Vice President of Operations.
Stanley added: "Through his career of more than 25 years, Jim has gained extensive experience in a number of the key plays in North America. His strong leadership skills and knowledge of our assets will be critical to our organization moving forward. As Senior Vice President of Operations, Jim led our efforts to drive down drilling and completion costs, making QEP one of the lowest cost developers in our industry."