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QEP Resources, Inc. Announces Executive Appointments And Organizational Changes

Scott Gutberlet has been promoted to the position of Vice President, Commercial and Technical Services.  Scott is a petroleum engineer with nearly 25 years of experience in the oil and gas industry, including 6 years with QEP and its predecessor company.  Most recently, Scott acted as the Company's Director of Investor Relations where he led  QEP's engagement initiatives with members of the investment community.  Prior to leading investor relations, Scott was the General Manager for the Company's Uinta Basin Division.  Earlier in his career, Scott served in a variety of engineering and finance-related roles with Unocal Corporation for 19 years. 

"Scott is an integral part of our management team," continued Stanley.  "During his career, he has held a wide range of technical and finance-oriented roles in the oil and gas industry, a background which uniquely positions him for this position in our organization."

Scott will be succeeded by Greg Benson who will serve as the Company's new Director of Investor Relations.  Benson joins QEP from Halliburton Energy Services, where he served as IR Manager for one of the top-ranked oil services and equipment investor relations teams in the United States.  Previously, he was a research analyst with institutional investment fund Marsico Capital, where he followed the energy sector.  Benson earned his undergraduate and graduate degrees in geophysics from the Colorado School of Mines and the University of Colorado, respectively. 

About QEP Resources

QEP Resources, Inc. (NYSE: QEP) is a leading independent natural gas and crude oil exploration and production company with operations focused in the Rocky Mountain and Midcontinent of the United States.  QEP Resources also gathers, compresses, treats, processes and stores natural gas.  For more information, visit QEP Resources' website at: www.qepres.com.

Safe Harbor Statement

This release includes forward-looking statements within the meaning of Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended.  Forward-looking statements can be identified by words such as "anticipates," "believes," "forecasts," "plans," "estimates," "expects," "should," "will" or other similar expressions.  Such statements are based on management's current expectations, estimates and projections, which are subject to a wide range of uncertainties and business risks.  These forward-looking statements include statements regarding:  forecasted adjusted EBITDA, production and capital investment for 2011 and 2012 and related assumptions for such guidance; percentage of net realized production revenues attributed to oil and NGL production; number of rigs planned in operating areas; changes in lease operating expenses; the effects of restricting the flowing rate at the Haynesville Shale; and the capacity of the Blacks Fork II plant.  Actual results may differ materially from those included in the forward-looking statements due to a number of factors, including, but not limited to:  the availability of capital; changes in local, regional, national and global demand for natural gas, oil and NGL; shortages of oilfield equipment, services and personnel; operating risks such as unexpected drilling conditions; weather conditions; changes in maintenance and construction costs; the availability and cost of credit; and the other risks discussed in the Company's periodic filings with the Securities and Exchange Commission, including the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2010.  QEP Resources undertakes no obligation to publicly correct or update the forward-looking statements in this news release, in other documents, or on the Web site to reflect future events or circumstances.  All such statements are expressly qualified by this cautionary statement.

SOURCE QEP Resources, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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