Gulf Oil and Gas accountACCOUNT

QEP Resources Enters Agreement to Sell Uinta Basin Assets

Source: www.gulfoilandgas.com 7/10/2018, Location: North America

Share |
QEP Resources, Inc. announced that its wholly owned subsidiary, QEP Energy Company, has entered into a definitive agreement to sell natural gas and oil producing properties, undeveloped acreage and related assets located in the Uinta Basin for proceeds of $155 million, subject to customary purchase price adjustments (the “Divestiture”).

The agreement provides for the sale of QEP’s assets located in Duchesne and Uintah counties in eastern Utah to Middle Fork Energy Partners, LLC. The Divestiture includes an estimated 605 Bcfe of proved reserves as of December 31, 2017, and net production in the first quarter of 2018 was 54 MMcfed, of which approximately 23% was liquids.

Citigroup Global Markets Inc. served as financial advisor and Latham & Watkins LLP provided legal counsel to QEP. Porter Hedges LLP provided legal counsel to Middle Fork Energy Partners, LLC.

Acquisitions and Divestitures News in United States >>

Ireland >>  9/20/2018 - Providence Resources P.l.c., the Irish based Oil & Gas Exploration Company (“Providence” or the “Company”), provides a commercial update on Standard E...
Namibia >>  9/19/2018 - Global Petroleum Limited has signed a Petroleum Agreement to acquire Block 2011A offshore Namibia. Global will hold an 85% interest in the new block a...

United Kingdom >>  9/17/2018 - Zennor Petroleum Limited is pleased to announce that its wholly owned subsidiary, Zennor North Sea Limited, has entered into a Sale and Purchase Agree...
Guyana >>  9/13/2018 - Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company with licences in highly prospective regions in Namibia and Guyana, is delighted to ...

United States >>  9/13/2018 - Vanguard Natural Resources, Inc. has executed a purchase and sale agreement for the sale of its ownership in natural gas properties in the Arkoma basi...
United States >>  9/12/2018 - Matador Resources Company announced the successful acquisition of 8,400 gross (8,400 net) acres for approximately $387 million, or a weighted average ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 |

More News

 

Oil & Gas Companies in United States >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.