QEP Resources Completes Redemption of Its 6.8% Senior Notes Due 2020
November 22 2019 - 4:15PM
QEP Resources, Inc. (NYSE:QEP) (QEP or the Company) today announced
that it completed its previously announced redemption of its 6.8%
Senior Notes due 2020 (the “2020 Notes”) in the aggregate principal
amount of $51.8 million. The 2020 Notes were redeemed at a
redemption price equal to 101.287% of the principal amount thereof,
plus accrued and unpaid interest up to, but not including, November
22, 2019.
About QEP Resources, Inc.
QEP Resources, Inc. (NYSE: QEP) is an independent crude oil
and natural gas exploration and production company focused in two
regions of the United States: the Southern Region (primarily
in Texas) and the Northern Region (primarily in North
Dakota). For more information, visit QEP's website at:
www.qepres.com.
Forward-Looking Statements
This release includes forward-looking statements within the
meaning of Section 27(a) of the Securities Act of 1933, as amended,
and Section 21(e) of the Securities Exchange Act of 1934, as
amended. Forward-looking statements can be identified by words such
as “anticipates,” “believes,” “forecasts,” “plans,” “estimates,”
“expects,” “should,” “will” or other similar expressions. Such
statements are based on management’s current expectations,
estimates and projections, which are subject to a wide range of
uncertainties and business risks. Actual results may differ
materially from those included in the forward-looking statements
due to a number of factors, including, but not limited to: changes
in oil, gas and NGL prices; liquidity constraints, including those
resulting from the cost or unavailability of financing due to debt
and equity capital and credit market conditions, changes in QEP’s
credit rating, QEP’s compliance with loan covenants, the increasing
credit pressure on QEP’s industry or demands for cash collateral by
counterparties to derivative and other contracts; market
conditions; global geopolitical and macroeconomic factors; the
activities of the Organization of Petroleum Exporting Countries and
other oil producing countries such as Russia; general economic
conditions, including interest rates; changes in local, regional,
national and global demand for natural oil, gas and NGL; impact of
new laws and regulations, including the use of hydraulic fracture
stimulation; impact of U.S. dollar exchange rates on oil, gas and
NGL prices; elimination of federal income tax deductions for oil
and gas exploration and development; guidance for implementation of
the Tax Cuts and Jobs Act; actual proceeds from asset sales;
actions of Elliott Management Corporation or other activist
shareholders; tariffs on products QEP uses in its operations or on
the products QEP sells; drilling results; shortages of oilfield
equipment, services and personnel; the availability of storage and
refining capacity; operating risks such as unexpected drilling
conditions; transportation constraints, including gas and crude oil
pipeline takeaway capacity in the Permian Basin; weather
conditions; changes in maintenance, service and construction costs;
permitting delays; outcome of contingencies such as legal
proceedings; inadequate supplies of water and/or lack of water
disposal sources; credit worthiness of counterparties to
agreements; and the other risks discussed in the Company’s periodic
filings with the Securities and Exchange Commission (SEC),
including the Risk Factors section of the Company’s Annual Report
on Form 10-K for the year ended December 31, 2018 and in the
Company's quarterly and current reports filed with the SEC
subsequent to the Annual Report on Form 10-K. QEP undertakes no
obligation to publicly correct or update the forward-looking
statements in this news release, in other documents, or on the
website to reflect future events or circumstances. All such
statements are expressly qualified by this cautionary
statement.
Contact
Investors:
William
I. Kent,
IRC
Director,
Investor Relations303-405-6665
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