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QEP Midstream Partners, LP Announces Filing of Registration Statement for Initial Public Offering

  QEP Midstream Partners, LP Announces Filing of Registration Statement for
  Initial Public Offering

Business Wire

DENVER -- May 9, 2013

QEP Midstream Partners LP (“QEPM”), a wholly owned subsidiary of QEP
Resources, Inc. (NYSE: QEP, “QEP”), today announced that it has filed a
registration statement on Form S-1 with the U.S. Securities and Exchange
Commission (“SEC”). This filing is made in anticipation of a proposed initial
public offering of common units representing limited partner interests in
QEPM. An application will be made to the New York Stock Exchange to list the
common units of QEPM under the symbol “QEPM.”

Wells Fargo Securities is acting as sole book-running manager and structuring
agent for the proposed offering. The offering will be made only by means of a
prospectus. When available, a preliminary prospectus relating to this offering
may be obtained from:

Wells Fargo Securities
Attn: Equity Syndicate Department
375 Park Avenue
New York, New York 10152
Email: cmclientsupport@wellsfargo.com
Toll-free number: (800) 326-5897

A registration statement relating to these securities has been filed with the
SEC but has not yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration statement becomes
effective. The registration statement is available on the SEC's website at
http://www.sec.gov under the registrant's name, “QEP Midstream Partners, LP”.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws
of any such state or jurisdiction.

Cautionary Statements

This press release contains certain forward-looking statements. Statements
that do not relate strictly to historical or current facts are
forward-looking. These statements involve risks and uncertainties that could
cause actual results to differ materially from projected results, anticipated
results or other expectations expressed in this press release, including,
without limitation, potential facts such as QEP’s business plans and strategy
may change as circumstances warrant; assets may never be contributed to QEPM;
limited partner interests in QEPM may not ultimately be offered; QEPM’s common
units may not ultimately be listed on the New York Stock Exchange; QEP may not
raise the planned amount of capital upon completion of the offering; and/or
the planned assets of QEPM may change and QEP may not be able to complete the
proposed actions on the timetable anticipated. Accordingly, investors should
not place undue reliance on forward-looking statements as a prediction of
actual results. QEP bases these forward-looking statements on current
expectations and assumptions about future events. While QEP considers these
expectations and assumptions to be reasonable, they are inherently subject to
significant business, economic, competitive, regulatory and other risks and
uncertainties, most of which are difficult to predict and many of which are
beyond QEP’s control. The risks and uncertainties that may affect the
operations, performance and results of QEP’s business and forward-looking
statements include, but are not limited to: risks relating to the securities
markets generally; the impact of adverse market conditions affecting QEPM’s
business or QEP’s business; adverse changes in laws, including with respect to
tax and regulatory matters; fluctuations in crude oil, natural gas liquids
(NGL), and natural gas prices and processing margins; unexpected changes in
costs for constructing, modifying or operating QEPM’s facilities; lack of, or
disruptions in, adequate and reliable transportation for QEP’s products;
potential liability under environmental regulations; potential liability
resulting from litigation; limited access to capital or significantly higher
cost of capital related to illiquidity or uncertainty in the domestic or
international financial markets; and other risks affecting QEPM's or QEP’s
businesses generally as set forth in the registration statement relating to
the common units and QEP's most recent Annual Report on Form 10-K, under Item
1A, "Risk Factors," and as updated by any subsequent Form 10-Qs, each filed
with the SEC. Neither QEP nor QEPM undertake any obligation to update or
revise such forward-looking statements to reflect events or circumstances that
occur, or which QEP or QEPM becomes aware of, after the date hereof.

Contact:

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