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News Breaks | | | | January 7, 2013 | | 08:06 EDT |  | QEP | QEP Resources announces plan to form midstream master limited partnership
QEP Resources announced that while it continues to evaluate strategic alternatives to enhance shareholder value with respect to certain of its midstream assets, QEP’s board of directors has authorized the formation of a master limited partnership and the preparation and filing of a registration statement with the U.S. SEC for an IPO of common units of the MLP. The Company expects to file a registration statement with the SEC in the second quarter of 2013. The MLP is intended to support the growth of QEP’s midstream business and is consistent with the Company’s focus on maximizing shareholder value and maintaining balance sheet strength. The Company expects to initially contribute a majority of its gathering assets in Wyoming and North Dakota to the MLP. Subject to final board approval and market conditions, QEP expects to sell a minority interest in the MLP in the IPO and raise $300M-$400M in gross proceeds. Proceeds from the offering would be used to fund ongoing operations, to repay debt under the Company’s revolving credit facility and for general corporate purposes. Additional detail will be included in the registration statement. | |
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| May 9, 2013 | | 16:47 EDT |  | QEP | QEP Midstream Partners files registration statement for IPO
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