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Title : QEP Update Following The Failed VEAC Deal -- February 28, 2019
link : QEP Update Following The Failed VEAC Deal -- February 28, 2019

QEP Update Following The Failed VEAC Deal -- February 28, 2019

QEP today:

News article, link here:

Colorado-based QEP Resources Inc.'s board of directors started a comprehensive review of alternatives to maximize shareholder value, which may result in a merger or divestment of the company.

The company will be in talks with the fund manager Elliott Management Corp. and other unnamed companies interested in a potential deal, according to a Feb. 20 news release. In January, Elliott offered to acquire the entire company at $8.75 per share in cash.

QEP:

• 236 million shares outstanding x $9 = $2.1 billion
• currently trading at about $7.75
• market cap: $1.82 billion
• enterprise value: $4.37 billion
• total debt: $2.51 billion
• cash: $0 
• Bakken: 2.5 million bbls crude oil over three months = $0.5 billion annually
• Permian: 5 million bbls crude oil over three months = $1 billion annually

The Permian:

• 50,000 acres
• at $20,000 / acre worth at least $1 billion

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on anything you read here or think you may have read here.

Disclaimer: I often make simple arithmetic errors; I often misread things. I have no degree in finance. I have formal education or experience in the oil and gas market. I do have experience pumping my own gasoline at the local service station.

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