Hoeven, Parshall Community Welcome QEP Resources' Growing Investment in North Dakota

PARSHALL, N.D. – Senator John Hoeven today joined Charles “Chuck” Stanley, Chairman, President and CEO of QEP Resources Inc., at a community appreciation event in Parshall to recognize the company’s continued, growing investment in North Dakota.

QEP has been active in the North Dakota Bakken since 2008. In September 2012, QEP acquired significant crude oil development properties in North Dakota’s Williams and McKenzie counties, within close proximity to the company’s existing acreage in the Williston Basin.

“The strong business climate we built in North Dakota continues to attract world-class companies like QEP who are committed to creating good jobs,” Hoeven said. “During a period of high national unemployment, companies like QEP are coming to North Dakota to create opportunities that put Americans to work, helping our state to continue to lead the way as a source of affordable energy solutions to fuel America.”

QEP Resources, Inc. is an independent energy company focused on the exploration, production, gathering, processing and marketing of natural gas, natural gas liquids and crude oil in the continental United States. The company, whose corporate heritage spans nearly a century, operates with a long-term commitment to creating value for our shareholders, exceptional opportunities for its employees and economic benefits for the communities in which it operates. Headquartered in Denver, QEP employs more than 900 people in eight states and is an S&P 500 member-company.

The Bakken’s oil and gas resources were considered too expensive to develop a decade ago, but the favorable legal, tax and regulatory environment developed by the state and advances in drilling technology have pushed North Dakota’s oil production to 675,000 barrels a day, second only to Texas.