QEP Resources Issues Notice of Redemption for its 6.875% Senior Notes Due 2021
31 Agosto 2020 - 2:00PM
QEP Resources, Inc. (NYSE:QEP) (QEP or the Company) today announced
that it has issued a notice (the “Redemption Notice”) to holders of
its outstanding 6.875% Senior Notes due 2021 (the “2021 Notes”) of
QEP’s intent to redeem all of the outstanding 2021 Notes on or
around September 30, 2020.
The redemption price for the 2021 Notes will be
calculated pursuant to the formula set forth in the indenture
governing the 2021 Notes.
Additional information concerning the terms and
conditions of the redemption are fully described in the Redemption
Notice distributed to the holders of the 2021 Notes. Beneficial
holders with any questions about the redemption should contact
their respective brokerage firm or financial institution.
About QEP Resources, Inc.
QEP Resources, Inc. (NYSE: QEP) is an
independent crude oil and natural gas exploration and production
company focused in two regions of the United States: the
Southern Region (primarily in Texas) and the Northern Region
(primarily in North Dakota). For more information, visit QEP's
website at: www.qepres.com.
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. Forward-looking statements can be identified by
words such as “anticipates,” “believes,” “forecasts,” “plans,”
“estimates,” “expects,” “should,” “will” or other similar
expressions. Such statements are based on management’s current
expectations, estimates and projections, which are subject to a
wide range of uncertainties and business risks. These
forward-looking statements include statements regarding the
intended redemption of the 2021 Notes. Actual results may differ
materially from those included in the forward-looking statements
due to a number of factors, including, but not limited to: the
length and severity of the recent outbreak of the COVID-19 virus
and its impact on QEP’s business; changes in oil, gas and NGL
prices; liquidity constraints, including those resulting from the
cost or unavailability of financing due to debt and equity capital
and credit market conditions, changes in QEP’s credit rating, QEP’s
compliance with loan covenants, the increasing credit pressure on
QEP’s industry or demands for cash collateral by counterparties to
derivative and other contracts; market conditions; global
geopolitical and macroeconomic factors; the activities of the
Organization of Petroleum Exporting Countries and other oil
producing countries such as Russia; general economic conditions,
including interest rates; changes in local, regional, national and
global demand for natural oil, gas and NGL; impact of new laws and
regulations, including the use of hydraulic fracture stimulation;
impact of U.S. dollar exchange rates on oil, gas and NGL prices;
elimination of federal income tax deductions for oil and gas
exploration and development; guidance for implementation of the Tax
Cuts and Jobs Act; actual proceeds from asset sales; actions of
activist shareholders; tariffs on products QEP uses in its
operations or on the products QEP sells; drilling results;
shortages of oilfield equipment, services and personnel; the
availability of storage and refining capacity; operating risks such
as unexpected drilling conditions; transportation constraints,
including gas and crude oil pipeline takeaway capacity in the
Permian Basin; weather conditions; changes in maintenance, service
and construction costs; permitting delays; outcome of contingencies
such as legal proceedings; inadequate supplies of water and/or lack
of water disposal sources; credit worthiness of counterparties to
agreements; and the 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, 2019, as updated by the Risk
Factors section of the Company’s Quarterly Report on Form 10-Q for
the quarters ended March 31, 2020 and June 30, 2020. QEP Resources
undertakes no obligation to publicly correct or update the
forward-looking statements in this news release, in other
documents, or on the website to reflect future events or
circumstances. All such statements are expressly qualified by this
cautionary statement.
ContactInvestors/Media:William I.
Kent, IRCDirector, Investor Relations303-405-6665
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