Seeking Alpha

QEP +3.6% after approving midstream spinoff, $500M buyback

  • QEP Resources (QEP) authorizes a spinoff of its midstream business, QEP Field Services Co., into a stand-alone public company.
  • QEP says it is preparing the necessary filings for the move but will continue to evaluate proposals for alternate transactions for separating the midstream business.
  • In an update on previously announced plans to sell non-core E&P assets, QEP plans to market its Granite Wash and Cana Woodford packages in mid-February.
  • QEP also unveils a $500M share repurchase program.
  • Jana Partners has been arguing since October for a more drastic restructuring of the company to spark shares; QEP +3.6% premarket.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs