QEP expands Midland Permian position for US$732 million
On 26 July 2017, QEP Resources announced the acquisition of 13,800 net acres in the Permian Midland Basin for US$732 million. The company will structure the acquisition as a like-kind-exchange and fund the deal with proceeds from its previously announced Pinedale divestiture and cash on hand. The acreage is located in Martin County, Texas, southeast of QEP's existing Permian position, where it is currently operating a three-rig program across 28,800 net acres. This transaction will grow ...