QEP Resources Inc. has appointed Robert F. Heinemann and Thomas C. O’Connor to the Board, effective immediately.
Mr. Heinemann brings significant E&P expertise to QEP’s Board through his experience as President, Chief Executive Officer and Director of Berry Petroleum Company, where he developed and executed the company’s growth and capital allocation strategies. During his nine years as CEO, Berry Petroleum increased production from approximately 15,000 barrels of oil equivalent per day (BOED) to over 40,000 BOED and increased total enterprise value from $375 million to approximately $4 billion, ultimately culminating in a sale of the company. Mr. Heinemann will seek election for a three-year term at the Company’s 2014 Annual Meeting. He will replace Keith Rattie, who is retiring from the QEP Board.
Mr. O’Connor brings deep midstream expertise to the QEP Board through his experience as Chairman and CEO of DCP Midstream, LLC (DCP) from 2007 to 2013. DCP is one of the largest midstream companies in the United States. Mr. O’Connor also served as Chairman of a publicly traded Master Limited Partnership, DCP Midstream Partners, LP. During his tenure, Mr. O’Connor led DCP on the most aggressive growth plan in the company’s history, including over $5 billion of construction and development projects. Mr. O’Connor will seek election for a three-year term at the Company’s 2015 Annual Meeting.
QEP’s Lead Director, Dr. M. W. Scoggins, commented on the changes to the Company’s Board of Directors: "On behalf of the Board, our shareholders, and our employees, I would like to thank Keith for his many years of dedicated and valuable service. We welcome Bob and Tom to the Board and look forward to benefitting from their extensive experience in both the E&P and midstream sectors where each has a proven track record of delivering long-term shareholder value through sound capital allocation strategies."
