Standard & Poor's says QEP's (QEP +6.5%) $1.38B purchase of oil and gas producing land in...

|About: QEP Resources, Inc. (QEP)|By:, SA News Editor

Standard & Poor's says QEP's (QEP +6.5%) $1.38B purchase of oil and gas producing land in North Dakota will not change its ratings even though QEP plans to pay for the deal with borrowing against its revolving credit facility and with cash. S&P says the deal adds to QEP's reserves and production and will diversify the gas-heavy company.