QEP Resources Announces Agreement to Sell Uinta Basin Assets for $155 Million

QEP Resources Announces Agreement to Sell Uinta Basin Assets for $155 Million

DENVER, July 10, 2018 (GLOBE NEWSWIRE) — QEP Resources, Inc. (NYSE:QEP) (“QEP” or the “Company”) announced today that its wholly owned subsidiary, QEP Energy Company, has entered into a definitive agreement to sell natural gas and oil producing properties, undeveloped acreage and related assets located in the Uinta Basin for proceeds of $155 million, subject to customary purchase price adjustments (the “Divestiture”).
The agreement provides for the sale of QEP’s assets located in Duchesne and Uintah counties in eastern Utah to Middle Fork Energy Partners, LLC. The Divestiture includes an estimated 605 Bcfe of proved reserves as of December 31, 2017, and net production in the first quarte…

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