QEP Resources Announces Pricing of $625 Million of Senior Notes

DENVER, Aug. 11 /PRNewswire-FirstCall/ -- QEP Resources, Inc. (NYSE: QEP) today announced that it has priced an underwritten public offering of $625 million of 6.875% Senior Notes due March 2021. The notes are being sold at a price of 99.074% to yield 7.00%. Net proceeds will be used to repay indebtedness under QEP Resources' term loan and revolving credit facility.

Interest is payable March 1 and September 1 of each year. The first interest payment will be made on March 1, 2011 and will consist of interest from closing to that date. The offering is expected to close on August 16, 2010.

Deutsche Bank Securities Inc., Banc of America Securities LLC, BMO Capital Markets Corp., J.P. Morgan Securities Inc., and Wells Fargo Securities, LLC are acting as joint book-running managers of the offering. The offering will be made only by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained from Deutsche Bank Securities Inc. by calling (800) 503-4611.

When available, an electronic copy of the prospectus supplement and accompanying base prospectus may also be obtained at no charge at the Securities and Exchange Commission's website at http://www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

QEP Resources is a leading independent natural gas and oil exploration and production company with operations focused in the Rocky Mountain and Midcontinent regions of the United States. The company also gathers and processes natural gas. The company is headquartered in Denver, Colorado.

SOURCE QEP Resources, Inc.