QEP Resources, Inc. is considered as one of the leading independent oil and gas companies in the United States. The history of the company dates back to 1922 during the discovery of a large natural gas resource in Wyoming. It started as a division of the Ohio Oil Company and made its debut as an independent venture in 2010.
The business is engaged in the exploration, exploitation and production of natural gas and crude oil in some of the most prolific resources plays in the country. Categorized as a low cost developer and producer of natural gas, QEP Resources remains to be on top of managing substantial resources that paints an exciting future for the venture. Their proven reserves as of 2013 is around 4,062 Bcfe, which ensures the company’s sustainable growth. During their 2014 fiscal year, their average production rate has gone up to 860MMcfed which is about 35% higher compared to their 2011 and 2012 operations.
The properties and operations of QEP Resources are located in the Pinedale Anticline in Western Wyoming, the Williston Basin in North Dakota, the Anadarko Basin in Texas and Oklahoma and the Uinta Basin in Eastern Utah. In addition to these promising sites, they also have assets in the Cotton Valley/Haynesville play in Northwestern Louisiana. Other operations are located in Colorado, Utah and in Wyoming. It is in Southwestern Wyoming that the company’s underground gas-storage reservoir is located. Part of its operations is the marketing of oil, natural gas and NGLs of third party and affiliate businesses.
The raw products produced by the company are marketed to crude oil refiners, industrial users, remarketers, local-distribution companies and gas-marketing firms. QEP Resources continues to publicly trade its common stocks on the New York Stock Exchange. It is Denver, Colorado that the business keeps its main office.