QEP Resources to Acquire Oil Properties in the Permian Basin for $950M

Loading...
Loading...
QEP Resources
QEP
today announced that its wholly owned subsidiary, QEP Energy Company, has entered into a definitive agreement to acquire oil and gas properties in the Permian Basin for an aggregate purchase price of approximately $950 million (the “Acquisition”). The properties, which are located in the Midland sub-basin, primarily in Martin and Andrews counties in west Texas, will diversify the Company's exploration and production footprint, and advance QEP's objective to create long-term shareholder value through the continued emphasis on high-margin crude oil and natural gas liquids production. The Company's Board of Directors was unanimous in its approval of the Acquisition. Acquisition Highlights:
See full press release
Posted In: NewsGuidanceManagementM&AGlobal
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...