Companies‎ > ‎US Research‎ > ‎

QEP Resources (NYSE: QEP) | Company Profile, History, Competitors


QEP Resources (NYSE: QEP) is a US oil and natural gas energy and exploration company. It was formed after the spin-off in 2010 from Questar Corporation, a natural gas company with operations in gas distribution and production.

QEP Resources has key operations in Midland, Williston, Haynesville and Uinta Basin. QEP holds 320,000 acres in total across the various basins as of 2017.

Business Overview

QEP has energy operations in four key plays at the end of 2017:
  • Midland Basin: QEP holds 49,100 net acres in the Midland Basin across three operating areas: Leonard, Spraberry and Wolcamp zones.
  • Williston Basin: QEP holds 111,500 net acres in the Wiliston Basin across two operating areas: South Antelope and Fort Berthold.
  • Haynesville Basin: QEP holds 49,000 net acres in the Haynesville Basin.
  • Uinta Basin: QEP holds 110,000 net acres in Uinta County, Utah.

Midland Basin

QEP first entered the Midland Basin in 2013 when they acquired the County Line acreage from EnerVest. In the Midland Basin, QEP was one of the early adopters of the “tank-style” development. This approach targets multiple stacked horizons from a single surface pad and completes those wells in a top-down manner. QEP believes this will increase frac complexity and well productivity and utilize more efficient use in surface equipment.

Williston Basin

While the Midland has become the main driver of QEP’s capital expenditures program, QEP’s acreage in the Williston basin is some of the most prolific in the area. QEP has had success with refracs in the Williston basin. 

Haynesville Basin

QEP has run a successful refrac program in the Haynesville Basin. QEP has driven higher results through using modern completion technology and longer lateral drilling. This has been true for other operators in the basin as well in recent years. Chesapeake Energy has seen significant improvement in the basin driven by higher completion intensity.


Charles Stanley (CEO): Charles Stanley serves as CEO since 2010. Prior, he served as EVP and COO of Questar. He also served as CEO of El Paso Oil and Gas Canada and CEO of Coastal Gas International.

Richard Doleshek (CFO): Richard Doleshek serves as CFO since 2010. He also served as EVP and CFO of QEP Midstream Partners until 2014. Prior, he served as CFO of Hilcorp.

Jim Torgerson (EVP Energy): Jim Torgerson serves as EVP of Energy Division at QEP. Prior, he served as SVP of Operations and SVP of Drilling and Completions. He also served as VP of Drilling and Completions at Questar. 


 $ USD in millions    2013    2014 2015 2016 2017
 Revenues $2,833 $3,282 $2,480 $1,511 $1,607 
 Gross Profit $1,476 $1,642  $1,199 $792 $881 
 Operating Profit  $351 ($858)$83 ($1,467)$86 
 Net Income$159 $784 ($149)($1,245)$269 
 EPS$0.89 $4.36 ($0.85)($5.62)$1.12