QEP Energy Co.

QEP Energy Co. has retained BMO Capital Markets to sell its Powder River Basin assets, which are primarily located in Converse County, Wyoming.

The assets include about 47,000 net acres, 45% of which is held by production. The remaining land has an average five-year term. In addition, the assets include a large inventory of about 1,000 gross undeveloped locations.

The region reports active development in the Sussex, Shannon, Frontier and Niobrara formations. Recent horizontal Sussex wells had initial productions as high as 700 barrels of oil equivalent (BOE) per day and an offset horizontal Frontier well had an initial production of 1,400 BOE per day.

The estimated net production from the assets in December 2012 was about 530 BOE per day, 81% of which was liquids.

For additional information, contact Miles Redfield, managing director of BMO Capital Markets A&D Advisory Group, at 713-546-9715.