Operator · Cana - Woodford Shale, Haynesville Shale & Permian Basin
QEP Resources, Inc.
80 articles mentioning QEP Resources, Inc. · Page 1 of 4
Diamondback Seals $2.2B Merger of QEP Resources
Diamondback Energy, Inc. has finalized its acquisition of QEP Resources Inc. in an all-stock deal valued at $2.2 billion. This comes after one of QEP's stakeholders, Glazer Capital LLC, voiced opposition to the deal over the...
PE Firm Speaks Out Against Diamondback Deal; Other Firms Reaffirm Support
QEP Resources shareholder Glazer Capital LLC is calling for the rejection of the pending merger acquisition of QEP by Diamondback Energy. The $2.2 billion, all-stock merger deal was originally struck in December 2020 and is currently...
QEP Resources Fourth Quarter, Full Year 2020 Results
QEP Resources, Inc. reported fourth quarter and full year 2020 financial and operating results. Full Year 2020 Highlights: Lowered 2020 average drilling and completion costs to $411 per lateral foot in the Permian Basin Reduced General...
QEP Resources Out of NYSE Compliance; Mulls Reverse Stock Split
QEP Resources, Inc. received notice that it is out of NYSE compliance. Over the prior 30 day period, the company's stock price was below $1.00 per share, which is the minimum average share price for continued...
QEP Talks 2021 Plans, Will Complete More Wells with Less Capex
QEP Resources provided a look into its 2021 plans. Here is what Tim said " I will now discuss briefly our current outlook for 2021 as demonstrated on slide 13 of the IR deck. Although we...
QEP Resources Second Quarter 2020 Results
QEP Resources, Inc. reported second quarter 2020 financial and operating results and provided an update to its 2020 plan in response to current market conditions. Second Quarter 2020 Highlights Amended Credit Agreement increasing liquidity by more...
E&P Gets $500 in Liquidity; Plans to Continue Executing Dev. Program
QEP Resources, Inc. has entered into an amendment to its existing credit agreement with Wells Fargo Bank, National Association, and other lenders. The amendments increase the company's liquidity by over $500 million. CEO Tim Cutt said:...
Bakken Operators Shut-In 450,000 Barrels Per Day, Rig Count Hits Lowest
May 7, 2020 The Department of Mineral Resources has established the Bakken Restart Task Force to facilitate rapid recovery of the oil and gas industry and supporting sectors impacted by COVID-related demand shock. The task force...
QEP Resources Taps Independent Chair of the Board
QEP Resources Inc. has announced that Mary Shafer-Malicki has been named independent Chair of the Board of Directors. Ms. Shafer-Malicki succeeds David Trice, who is retiring after serving nine years on QEP’s Board, including the role...
QEP Q1: Capex Down 32% for 2020, One Active Rig; Free Cash Flow Improves YOY
QEP Resources, Inc. reported its Q1 2020 results. Q1 Financial / Production Highlights: QEP reported several key financial developments in Q1, including: Negative Free Cash of $-31.6MM in Q1 (56% Improvement from 1Q19): QEP reported a...
QEP Mulling Reverse Stock Split as Stock Dips Below $1.00
QEP Resources, Inc. is out of NYSE compliance due to its stock being below $1.00 for 30 consecutive trading days. QEP is mulling a reverse stock split to cure the deficiency, but no decision has been...
QEP Lowers 2020 Capex; Suspend Permian Completions, Bakken Fracs
QEP Resources, Inc. provided an operational and financial update in response to current market conditions. 2020 Capital Changes Expect to reduce planned 2020 and 2021 combined capital expenditures by more than an aggregate $300 million, or...
QEP Resources Details its Fourth Quarter 2019 Results
QEP Resources, Inc. reported fourth quarter and full year 2019 financial and operating results and provided initial 2020 guidance and capital investment plan. Full Year 2019 Highlights Delivered equivalent production 11% above and capital investment 11%...
Several E&P's Talk Oilfield Water Management Strategies
The oilfield water market is heating up and E&P companies are actively talking / thinking about different strategies. The main question being asked is whether to take the cash now (from a sale) and risk higher...
QEP Touts Less Capex, More Wells, More Production
QEP Resources reported it's 3rd quarter results, and here is a quick read. 1. Reduced capital expenditure guidance by $65 million 2. Production continues to grow, up 9% sequentially 3. Production getting oily, up from 65%...
QEP Resources Adds Two Seasoned E&P CEOs to Board
QEP Resources, Inc. has appointed Joseph N. Jaggers and Barth E. Whitham to its board of directors, effective October 20, 2019. These appointments were made in accordance with QEP's previously announced cooperation agreement with Elliott Management...
QEP Resources Reports Q2 Results, Strategic Alternatives Outcome
QEP Resources, Inc. reported second quarter 2019 financial and operating results and announced the outcome of its strategic alternatives review process. Highlights: QEP’s Board of Directors concluded formal strategic alternatives review process Go forward strategy focuses...
QEP Comes to Agreement with Shareholder Elliott Management
QEP Resources Inc. has entered into a cooperation agreement with affiliates of Elliott Management Corp., which is comprised of a 'refreshment' of the QEP Board as well as the creation of a new Operations Committee. Funds...
Several Operators, PE Firm Set Sights on QEP Resources Takeover
Multiple companies, including two E&Ps and a private equity firm, are reportedly in the running for a takeover of QEP Resources, according to a report by Bloomberg. Whiting Petroleum and Callon Petroleum are the two operators...
QEP Increasing 2019 Permian Drilling Program
QEP Resources, Inc. reported its Q1 2019 results. Doing more with less. The company disclosed that it plans to complete 10-12 more wells this year. See the chart below for the updated guidance. Going from 53...