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QEP Resources, Inc. Issues Comment On JANA Filing

QEP Resources, Inc. (“QEP” or the “Company”) (NYSE:QEP) today issued the following statement regarding the filing of an updated Schedule 13D beneficial ownership report by JANA Partners, LLC (“JANA”) including a letter addressed to QEP’s Board of Directors:

“QEP’s Board of Directors and management team are working to develop strategies and take actions which we believe will create value for all of our shareholders. As an integral part of that process, we welcome the input of all shareholders, including JANA Partners, and regularly evaluate their suggestions and proposals, including the proposals that have been put forth recently by JANA. As communicated publicly and in our ongoing conversations with JANA, the Board and management continue to work with our financial advisors to diligently analyze various alternatives to create greater value for all of our shareholders.”

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 majority owner of QEP Midstream Partners, LP (NYSE:QEPM) and owns 100% of the partnership’s general partner. For more information, visit QEP Resources' website at: www.qepres.com.

Copyright Business Wire 2010

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