QEP Resources Announces Pricing of $500 Million of Senior Notes

DENVER, Feb. 27, 2012 /PRNewswire/ -- QEP Resources, Inc. (NYSE: QEP) today announced that it has priced an underwritten public offering of $500 million of its 5.375% Senior Notes due October 2022.  Net proceeds will be used to repay indebtedness under QEP Resources' revolving credit facility.

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Interest is payable April 1 and October 1 of each year.  The first interest payment is due on October 1, 2012 for interest accrued from closing to that date.  The offering is expected to close on March 1, 2012.

Wells Fargo Securities, LLC, BMO Capital Markets Corp., Deutsche Bank Securities Inc., and J.P. Morgan Securities LLCare acting as joint book-running managers of the offering.  The offering was made only by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained by contacting Wells Fargo Securities, LLC at 550 South Tryon Street, 7th Floor, Charlotte, North Carolina 28202, Attention: Client Support, MAC D1086-070, Telephone: (800) 326-5897.

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.  The offering is being made pursuant to an effective registration statement on Form S-3 previously filed by QEP Resources with the Securities and Exchange Commission.

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.  QEP Resources also gathers, compresses, treats, processes and stores natural gas.  The company is headquartered in Denver, Colorado.

FORWARD-LOOKING STATEMENTS.  This release includes forward-looking statements within the meaning of Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended.  These forward-looking statements include statements regarding the closing of the notes offering and the use of proceeds from such offering.  Actual results may differ materially from those included in the forward-looking statements due to a number of factors, including, but not limited to: general economic conditions, including the performance of the financial markets and interest rates; changes in government regulations; terrorist acts; mechanical and other risks associated with oil and gas operations; the volatility of natural gas, oil and NGL prices; weather; and other risks discussed in the Company's periodic filings with the Securities and Exchange Commission, including the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2011.  QEP Resources undertakes no obligation to publicly correct or update the forward-looking statements.  All such statements are expressly qualified by this cautionary statement.

SOURCE QEP Resources, Inc.

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