QEP Resources
Focused on crude oil and natural gas exploration and production.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
$2.2b Valuation: $2.2b 3.0x EV/Revenue 3.4x EV/EBITDA | Acquisition | ||
| Total Funding | 000k | ||
| USD | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 19 % | (38 %) | (40 %) | 19 % | 15 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 45 % | 50 % | 55 % | 90 % | 73 % | 69 % |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 17 % | 52 % | 8 % | - | 5 % | 4 % |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article, Equity research estimates
QEP Resources, Inc. was an independent crude oil and natural gas exploration and production company, which has since been acquired by Diamondback Energy. Prior to its acquisition, the company was headquartered in Denver, Colorado, and its shares were traded on the New York Stock Exchange under the ticker symbol QEP.
The company's operations were strategically focused on two of the most significant oil-producing regions in the United States: the Permian Basin in western Texas and the Williston Basin in North Dakota. QEP Resources engaged in the acquisition, exploration, and development of properties to produce and sell crude oil, natural gas, and natural gas liquids. Its business model revolved around identifying and developing assets in these resource-rich areas, with a portfolio designed to provide a foundation for sustainable growth. As of year-end 2018, the company reported 658.2 million barrels of oil equivalent (MMboe) in proved reserves.
QEP Resources originated as the exploration and production arm of Questar Corporation. In 2010, Questar Corporation separated its exploration and production business, spinning it off into a standalone, publicly-traded entity named QEP Resources, Inc. Timothy J. Cutt served as the President and CEO of the company leading up to its acquisition. On March 17, 2021, Diamondback Energy, Inc. successfully completed its acquisition of QEP Resources in an all-stock transaction. This merger integrated QEP's assets, particularly its holdings in the Midland Basin, into Diamondback's existing portfolio, creating a stronger, more consolidated presence in the Permian Basin.
Keywords: crude oil, natural gas, exploration, production, Permian Basin, Williston Basin, energy resources, oil and gas assets, public company, acquisition