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QEP Closes Green River Processing Acquisition

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July 10, 2014

QEP Midstream Partners LP (NYSE: QEPM) has acquired 40% of the outstanding membership interest in Green River Processing LLC, for $230 million in cash, from QEP Field Services Co., a wholly owned subsidiary of QEP Resources Inc. (NYSE: QEP).

The dropdown is the partnership's first acquisition since its IPO in August 2013. It is expected to be immediately accretive to distributable cash flow per unit. The partnership used cash on hand and proceeds from its $500 million credit facility to fund the acquisition.

Green River Processing owns the Blacks Fork ...

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