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Press release from Business Wire

QEP Resources, Inc. Comments on Investor Filing

Tuesday, October 22, 2013

QEP Resources, Inc. Comments on Investor Filing

07:00 EDT Tuesday, October 22, 2013

DENVER (Business Wire) -- QEP Resources, Inc. (“QEP” or the “Company”) (NYSE:QEP) today issued the following statement regarding the filing of a Schedule 13D beneficial ownership report by JANA Partners, LLC (“JANA”) reporting its 7.5 percent ownership in the Company.

Over the past year, QEP's Board and management team have maintained an ongoing and constructive dialogue with JANA, as well as many of our other shareholders, and have carefully considered their suggestions and proposals, which included support of the formation and initial public offering of QEP Midstream Partners, LP, completed on August 14, 2013.

QEP's Board and management team are focused on developing strategies and taking actions that they believe will create value for all of our shareholders.

Due to the quiet period around the Company's upcoming third-quarter financial and operating results announcement scheduled for November 5, 2013, it cannot comment further at this time.

About QEP Resources

QEP Resources, Inc. (NYSE: QEP) is a leading independent natural gas and crude oil exploration and production company focused in two major regions: the Northern Region (primarily the Rockies and the Williston Basin) and the Southern Region (primarily Oklahoma, the Texas Panhandle, and Louisiana) of the United States. QEP Resources also gathers, compresses, treats, processes and stores natural gas. QEP Resources is the General Partner and a majority owner of QEP Midstream Partners, LP (NYSE:QEPM). For more information, visit QEP Resources' website at: www.qepres.com.

QEP Resources, Inc.
Greg Bensen
Director, Investor Relations
303-405-6665

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