Add-on Acquisition • Oil/Gas Exploration

QEP Resources Acquires North Dakota Oil Properties

On August 23, 2012, QEP Resources acquired oil/gas exploration company North Dakota Oil Properties for 1.4B USD

Acquisition Context

This is QEP Resources’ 1st transaction in the Oil/Gas Exploration sector.
This is QEP Resources’ largest (disclosed) transaction.
This is QEP Resources’ 1st transaction in the United States.

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M&A Deal Summary
Date	August 23, 2012
Target	North Dakota Oil Properties
Sector	Oil/Gas Exploration
Buyer(s)	QEP Resources
Deal Type	Add-on Acquisition
Deal Value	1.4B USD

Target Company

North Dakota Oil Properties

United States

The properties are located in Williams and McKenzie counties of North Dakota, approximately 12 miles west of QEP's existing core acreage in the Williston Basin. Aggregate current net production approximately 10,500 barrels of oil equivalent per day (Boepd) .

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Buyer Overview 1

Buyer

QEP Resources

Denver, Colorado, United States

Category	Company
Founded	2010
Sector	Oil/Gas Exploration
Employees	248
Revenue	1.2B USD (2019)

DESCRIPTION

QEP Resources, Inc. 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). QEP Resources was founded in 2010 and is based in Denver, Colorado.

Deal Context for Buyer	#
Overall	1 of 2
Sector: Oil/Gas Exploration	1 of 2
Type: Add-on Acquisition	1 of 2
Country: United States	1 of 2
Year: 2012	1 of 1
Size (of disclosed)	1 of 2

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2013-12-09	Oil and Gas Properties United States The properties, which are located in the Midland sub-basin, primarily in Martin and Andrews counties in west Texas, net production of approximately 6,700 barrels of oil equivalent per day.	Buy	$950M

DATE

TARGET

DEAL TYPE

VALUE

2013-12-09

Oil and Gas Properties

United States

The properties, which are located in the Midland sub-basin, primarily in Martin and Andrews counties in west Texas, net production of approximately 6,700 barrels of oil equivalent per day.

Buy

$950M

Explore Related M&A Activity

Oil/Gas Exploration M&A - Add-on Acquisition M&A Deals - United States M&A - 2012 M&A