By Denver Business Journal

QEP Resources Inc. said Thursday it has completed a spinoff from Questar Corp. as a public company and will be based in Denver.

QEP ( website here) includes the natural gas and oil exploration and production business of Salt Lake City-based Questar Corp. (NYSE: STR) as well as Questar's midstream field services business, which were known as Questar Market Resources.

Trading in QEP stock has begun on the New York Stock Exchange under the symbol "QEP."

Under the tax-free spinoff, shareholders of Questar on Wednesday received one share of QEP stock for each share of Questar stock they hed as of June 18.

QEP's operations are focused in the Rocky Mountain and Midcontinent regions. Its headquarters is at 1050 17th St., Suite 500, Denver CO 80265, phone 303-672-6900.

QEP has regional offices in Oklahoma City and Tulsa, Okla., and field services offices in Denver, Salt Lake City and Rock Springs, Wyo.

Company officers include Charles Stanley, president and CEO; Richard J. Doleshek, executive VP, CFO and treasurer; Jay Neese, executive VP; Perry Richards, senior VP/field services, and Eric Dady, VP and general counsel.

QEP says it had year-end 2009 proved reserves of 2.75 trillion cubic feet equivalent, and its daily net production is over 600 million cubic feet of natural gas equivalent (comprised of about 90 percent natural gas).

Questar announced June 14 that its board had approved the spinoff.

Its remaining businesses include Wexpro Co., which develops and produces natural gas on behalf of utility customers; Questar Pipeline Co., which operates interstate natural gas pipelines and storage facilities in the western states; and Questar Gas Co., a regulated natural gas distribution utility serving 900,000 homes and businesses in Utah, Wyoming, and Idaho.

Standard & Poor's announced June 23 that QEP Resources will replace Questar in its S&P 500 index, and Questar will replace Federal Signal Corp. (NYSE: FSS) in the S&P MidCap 400 index.

Copyright 2010 American City Business Journals

Copyright 2010