QEP Resources Inc (QEP)

[eFinanceMarkets]

$QEP QEP Resources to sell Wyoming nat gas assets for $777M

QEP Resources (NYSE:QEP) agrees to sell natural gas assets in southwest Wyoming in two transactions for a combined $777M.

The first deal involved the sale of all of QEP’s assets in the Pinedale Anticline field in Sublette County, Wyo., to Oak Ridge Natural Resources for $740M, while the second closes the sale of non-core natural gas assets to an undisclosed buyer for $37M.

QEP says the assets were critical to its early success but the sales now are "a necessary next step [to] help fund future development projects and acquisition opportunities."