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QEP Makes Three Deals In Midcontinent And Williston

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By Darren Barbee, Hart Energy
May 7, 2014

QEP Resources Inc. (NYSE: QEP) executed a series of divestments on May 6, knocking deals around like a highly sophisticated pinball machine, as three buyers purchased oil and gas properties in the Midcontinent and Williston Basin.

Combined, the noncore assets will be sold for $807 million.

QEP had been marketing the Midcontinent assets for some time, and the Cana Woodford and Granite Wash properties sold for a combined $772 million. QEP said the Midcontinent assets hold an estimated 463 billion cubic feet equivalent (Bcfe) of proved reserves as of Dec. ...

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