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QEP Energy Company

Company Summary

Description

QEP Energy Company acquires, explores, and produces natural gas, oil, and natural gas liquids. The company operates in Pinedale Anticline in western Wyoming, the Williston Basin in North Dakota, the Uinta Basin in eastern Utah, the Permian Basin in western Texas, the Haynesville/Cotton Valley in northwestern Louisiana, and other proven properties in Wyoming, Utah and Colorado. It was formerly known as Questar Exploration and Production Company and changed its name to QEP Energy Company in June 2010. The company was incorporated in 1970 and is based in Denver, Colorado. QEP Energy Company operates as a subsidiary of QEP Resources, Inc.

Website

http://www.bloomberg.com/research/stocks/private/s...

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Recent news

  • 2/21/2019 - Vantage Energy... (subscriber access)
  • 3/29/2018 - Tellurian Intends to be... (subscriber access)
  • 7/27/2017 - QEP Resources Acquiring... (subscriber access)
  • 6/22/2016 - QEP Acquires Permian... (subscriber access)

Company Transactions

Date: 3/31/2021
Type: Acquisition

BUYERS:
  • Diamondback Energy, Inc.
    • SELLERS:
  • QEP Energy Company
    • DETAILS:

    COST: 2.2 $B

    VOLUMES: 47.6 MBOE/d

    ACRES: 49000 Acres

    NOTES:
    Diamondback Energy is acquiring QEP Resources via an all-stock deal valued at $2.2 billion, which will include $1.6 billion in QEP debt. Diamondback will grant 0.05 shares of stock for each share of QEP held, which gives a value of $2.29/share for QEP. With regards to assets, Diamondback is gaining 49,000 net acres in the Midland Basin and they will divest QEP's Williston assets moving forward. Total QEP third quarter 2020 volumes were 76.7 Mboe/d (48.3 Mbbl/d of oil), with the Permian accounting for 47.6 Mboe/d (30.5 Mbbl/d in oil.) Also, QEP has 48 Permian DUC's that will be developed in 2021.
    REGIONS:
  • Permian Basin
  • Midland Basin

    • Date: 10/31/2017
    Type: Acquisition

    BUYERS:
  • QEP Resources, Inc.
  • QEP Energy Company
    • DETAILS:

    COST: 732 $MM

    VOLUMES: 0.635 MBOE/d

    ACRES: 13800 Acres

    NOTES:
    QEP Resources, through QEP Energy Company, has entered into an agreement to acquire crude oil and natural gas assets in the Permian Basin for $732 million. The acquisition includes 13,800 net acres in Martin County, Texas, 730 potential horizontal drilling locations over four horizons, 0.635 Mboe/d in production and net proved reserves of 44 MMboe.
    REGIONS:
  • Permian Basin

    • Date: 9/15/2016
    Type: Acquisition

    BUYERS:
  • QEP Energy Company
  • QEP Resources, Inc.
    • DETAILS:

    COST: 600 $MM

    VOLUMES: 1.4 MBOE/d

    ACRES: 9400 Acres

    REGIONS:
  • Permian Basin