General News | Top Story | Deals - Acquisition, Mergers, Divestitures
QEP Resources Finalizes $735MM Sale of its Haynesville / Cotton Valley Assets
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QEP Resources, Inc. has closed the sale of its assets in the Haynesville/Cotton Valley to Aethon Energy.
Earlier last week, QEP Resources received a buyout offer from hedge fund firm Elliott Management Corp., which was contingent on the company closing the sale mentioned above. QEP management is currently reviewing the offer.
The Company intends to use the proceeds from the divestiture to repay the outstanding balance on its revolving credit facility and to help fund a portion of its 2019 capital expenditure program.
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