QEP Resources moves ahead with midstream spinoff

QEP Resources Inc., Denver, has filed a Form 10 registration statement for the tax-free spinoff of wholly owned, midstream subsidiary QEP Field Services Co. (QEPFS) into a separate publicly traded company to be named Entrada Midstream Inc. (OGJ Online, Dec. 3, 2013).

QEPFS owns gathering, processing, and fractionation assets in the Uinta and Green River basins, along with the general partner of QEP Midstream Partners LP (QEPM) and 55.8% limited partner interest in QEPM.

QEP will not be spinning off its Haynesville gathering system in the transaction.

QEP said, concurrent with the preparation of the Form 10, the company is engaged in a process to solicit and evaluate proposals for alternative transactions for separating the midstream business.

Related Articles

KKR, Riverstone to form Barnett-focused Trinity River Energy

07/09/2014 Kohlberg Kravis Roberts & Co. LP (KKR) and Riverstone Holdings LLC have signed a definitive agreement to combine the existing assets held by KK...

Suncor, GE aim to reduce GHG emissions, water usage in oil sands

07/09/2014 Suncor Energy Inc., Calgary, and GE have signed two agreements that aim to reduce greenhouse gas (GHG) emissions and water usage in the oil sands.

MARKET WATCH: Oil prices continue down on London, New York markets

07/09/2014 Crude oil prices on the New York market dropped modestly on July 8, settling down for the seventh consecutive session while oil prices on the Londo...

EIA: Low-permeability formations driving Permian oil production surge

07/09/2014 Crude oil production in the Permian basin has increased to 1.35 million b/d in 2013 from 850,000 b/d in 2007. Since March 2013, the Permian basin h...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected