QEP Resources Inc. said this week it has launched a strategic review to explore the possibility of merging with another operator or selling the company.
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Calling QEP Resources Inc. “deeply undervalued,” two affiliates of activist shareholder Elliott Management Corp., one of the company’s largest shareholders, offered to buy the onshore exploration and production company outright and take it private in a cash deal valued at more than $2 billion.
QEP Resources Inc. has secured a deal to sell its Montana and North Dakota assets in the Williston Basin to Vantage Energy Acquisition Corp.
Denver-based independent QEP Resources Inc. continues its shift to an oilier production mix, completing its exit from the Pinedale Anticline in September while completing this week a $683.5 million purchase of 13,000 acres in the Permian Basin in West Texas.
On the heels of its exit from Wyoming’s Pinedale Anticline earlier this week, QEP Resources Inc. on Thursday announced plans to acquire 13,800 net acres in the Permian’s Midland sub-basin for $732 million, further signaling its intentions to grow liquids in its portfolio.