Key Developments: QEP Resources Inc (QEP)
29.60USD
21 May 2013
$0.27 (+0.92%)
$29.21
$29.46
$30.26
$29.43
1,245,864
2,073,716
$33.50
$24.34
Latest Key Developments (Source: Significant Developments)
QEP Resources Inc Announces Filing Of Registration Statement For Initial Public Offering
QEP Resources Inc announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC). This filing is made in anticipation of a proposed initial public offering of common units representing limited partner interests in QEPM. An application will be made to the New York Stock Exchange to list the common units of QEPM under the symbol QEPM. Wells Fargo Securities is acting as sole book-running manager and structuring agent for the proposed offering. The offering will be made only by means of a prospectus. Full Article
QEP Resources Inc Raises FY 2013 EBITDA Guidance
QEP Resources Inc revised its fiscal 2013 guidance and expects adjusted EBITDA to be in the range of $1.575 - $1.675 billion. Earlier the Company forecasted adjusted EBITDA in the range of $1.500- $1.650 billion. According to I/B/E/S Estimates, analysts were expecting the Company to report EBITDA of $1.615 billion for fiscal 2013. Full Article
QEP Resources Inc Lowers FY 2013 EBITDA Guidance
QEP Resources Inc revised fiscal 2013 guidance and expects adjusted EBITDA in the range of $1.500-$1.650 billion, previous forecast $1.525-$1.675 billion. According to I/B/E/S Estimates, analysts were expecting the Company to report EBITDA of $1.568 billion for fiscal 2013. Full Article
QEP Resources Inc Declares Quarterly Cash Dividend
QEP Resources Inc announced that Board of Directors approved a quarterly cash dividend of $0.02 per share payable on March 7, 2013, to shareholders of record on February 25, 2013. Full Article
QEP Resources Inc Lowers High End Of Prior FY 2012 EBITDA Guidance To A Range Below Analysts' Estimates; Issues FY 2013 EBITDA Guidance Below Analysts' Estimates
QEP Resources Inc announced that for fiscal 2012, it expect adjusted EBITDA in the range of $1.400-$1.425 billion. Earlier the Company forecasted adjusted EBITDA of $1.400-$1.450 billion. For fiscal 2013, it expects adjusted EBITDA in the range of $1.525-$1.675 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $1.441 billion for fiscal 2012 and EBITDA of $1.776 billion for fiscal 2013. Full Article
QEP Resources Inc Declares Quarterly Cash Dividend
QEP Resources Inc announced that the Board of Directors approved a quarterly cash dividend of $0.02 per share payable on December 7, 2012, to shareholders of record on November 19, 2012. Full Article
QEP Resources Inc Announces Pricing Of $650 Million Of 5.250% Senior Notes Due 2023
QEP Resources Inc announced that it has priced an underwritten public offering of $650 million of 5.250% Senior Notes due May 1, 2023. The notes are being offered to fund a portion of the consideration to acquire producing and undeveloped oil and gas properties in North Dakota's Williams and McKenzie counties. The oil and gas properties will be acquired pursuant to two related purchase and sale agreements. Prior to the consummation of the transactions contemplated by the purchase and sale agreements, the net proceeds from this offering will be held by QEP Resources and a portion of those proceeds will be used to temporarily pay down any outstanding amounts under QEP Resources' revolving credit facility. If neither of the transactions contemplated by the purchase and sale agreements close on or prior to December 31, 2012, or if both purchase and sale agreements are terminated at any time prior thereto, QEP Resources will be required to redeem all of the notes at a redemption price equal to 100% of their issue price, plus accrued and unpaid interest to the date of redemption. .P. Morgan Securities LLC, BMO Capital Markets Corp., Deutsche Bank Securities Inc., Wells Fargo Securities, LLC, and Citigroup Global Markets, Inc. are acting as joint book-running managers of the offering. Full Article
QEP Resources Inc Announces $600 Million Senior Notes Offering
QEP Resources Inc announced a $600 million offering of senior notes due 2023. The notes are being offered to fund a portion of the consideration to acquire producing and undeveloped oil and gas properties in North Dakota's Williams and McKenzie counties. The oil and gas properties will be acquired pursuant to two related purchase and sale agreements. Prior to the consummation of the transactions contemplated by the purchase and sale agreements, the net proceeds from this offering will be held by QEP Resources and a portion of those proceeds will be used to temporarily pay down any outstanding amounts under QEP Resources' revolving credit facility. If neither of the transactions contemplated by the purchase and sale agreements close on or prior to December 31, 2012, or if both purchase and sale agreements are terminated at any time prior thereto, QEP Resources will be required to redeem all of the notes at a redemption price equal to 100% of their issue price, plus accrued and unpaid interest to the date of redemption. J.P. Morgan Securities LLC, BMO Capital Markets Corp., Deutsche Bank Securities Inc., Wells Fargo Securities, LLC, and Citigroup Global Markets, Inc. are acting as joint book-running managers of the offering. Full Article
QEP Resources Inc Raises FY 2012 EBITDA Guidance; Raises FY 2012 Production Guidance-Conference Call
QEP Resources Inc announced that for fiscal 2012, it increases EBITDA guidance by $50 million to be in the range of $1.4 billion to $1.45 billion and production guidance by 5 Bcfe to be in the range of 310 Bcfe to 315 Bcfe. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EBITDA of $1.39 billion for fiscal 2012. Full Article
Sundance Energy Australia Ltd Sells Working Interest In South Antelope Field To QEP Resources, Inc.'s Subsidiary
Sundance Energy Australia Ltd announced the divestment of its working interest in the South Antelope field in the Williston Basin, as part of the sale process undertaken by the Operator of the field, Helis Oil & Gas. Sundance retains its other holdings in the Bakken. The sale price for Sundance's working interest including approximately 3,900 acres is USD 172.4 million in cash. The purchaser of the South Antelope field is QEP Energy Company, which is a subsidiary of QEP Resources, Inc. (NYSE: QEP). Full Article
QEP Midstream Partners files for IPO of up to $400 million
May 9 - QEP Midstream Partners LP, the operating arm of oil and natural gas exploration company QEP Resources Inc , filed with U.S. regulators to raise up to $400 million in an initial public offering of common stock.
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