QEP Resources Inc. (QEP): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report

Denver, Colorado-based QEP Resources Inc. QEP is a leading independent energy company engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. The company's operations are focused on the Northern Region (primarily in the Rockies and the Williston Basin) and the Southern Region (primarily Oklahoma, the Texas Panhandle, and Louisiana) of the U.S. Additionally, QEP Resources is engaged in a growing midstream business that gathers, compresses, treats, and processes natural gas and energy marketing.

The company, in its current form, came into existence following the 2010 spin-off of Salt Lake City, Utah-based Questar Corporation's STR unregulated exploration and production unit, as well as its gas gathering and marketing operations into a separate, independent and publicly traded entity.

As of year-end 2013, QEP Resources had a proved reserve base of 4,061.9 billion cubic feet equivalent (Bcfe) in proved reserves (63% natural gas). Approximately 75% of the company's 2013 proved reserves were located in the Northern Region, while 25% came from the Southern Region. QEP Resources' output totaled 309.0 Bcfe in 2013, of which nearly 71% was natural gas.