QEP Resources Reports First Quarter 2020 Financial and Operating Results and Provides Update to 2020 Plan in Response to Current Market Conditions
QEP RESOURCES (QEP)
Last qep resources earnings: 4/29 04:15 pm
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US:NYSE Investor Relations:
ir.qepres.com
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Source: GlobeNewswire
DENVER, April 29, 2020 (GLOBE NEWSWIRE) -- QEP Resources, Inc. (NYSE: QEP) (QEP or the Company) today reported first quarter 2020 financial and operating results and provided an update to its 2020 plan in response to current market conditions. Response to Current Market Conditions "The novel coronavirus disease (COVID-19) has created unprecedented challenges for our industry, customers and employees. We took swift and decisive action to reduce activity in the face of rapidly deteriorating market conditions, reducing drilling and completion activity across both of the basins in which we operate. These steps prioritize profitability and financial discipline over production growth and help to ensure the business delivers Free Cash Flow, while also preserving liquidity, even at historically low commodity prices in 2020," commented Tim Cutt, President and CEO of QEP. "We believe the initiatives we have undertaken over the last 18 months to optimize our business, including lowering op
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