A Denver energy company said it will now concentrate on the Permian Basin and will sell its other assets in North Dakota and Colorado/Utah.
QEP Resources Inc. (NYSE: QEP) said it plans to sell its 115,000 acres in the Williston Basin in North Dakota, and its 110,000 acres in the Uinta basin in Colorado and Utah, beginning in late March or early April.
It also plans to sell its 48,900 acres in the Haynesville/Cotton Valley in Texas and Louisiana later this year.
"The strategic initiatives announced today are responsive to ongoing shareholder feedback and fit with our long-term goal of becoming a more oil-focused company. The initiatives will allow us to simplify our portfolio, streamline our operations, and sharpen our focus on our Permian Basin assets, quickly resulting in QEP becoming a leading pure-play Permian company," said Chuck Stanley, chairman, president and CEO of QEP, in a statement.
Read more at the Denver Business Journal: http://bit.ly/2FHxYDL
