QEP will become a Permian pure-play oil producer soon as Bakken, Haynesville deals close
QEP Resources, Inc. (stock ticker: QEP) said its subsidiaries, QEP Energy Company, QEP Marketing Company, and QEP Oil & Gas Company, have entered into a definitive agreement to sell natural gas and oil producing properties, undeveloped acreage and associated gas gathering and treating systems in the Haynesville/Cotton Valley for $735 million, subject to purchase price adjustments.

The company has been divesting its non-Permian assets in the past 12 months or so en route to its final destination of becoming a pure-play Permian Basin producer by yearend. Today’s announcement appears to be the final sale needed to make it so, once this and another ...

Legal Notice