QEP Midstream Partners, LP Announces Pricing of Initial Public Offering of Common Units

  QEP Midstream Partners, LP Announces Pricing of Initial Public Offering of
  Common Units

Business Wire

DENVER -- August 8, 2013

QEP Midstream Partners, LP (“QEPM” or the “Partnership”) today announced that
it has priced its initial public offering of 20,000,000 common units at $21.00
per unit. The underwriters have been granted a 30-day option to purchase up to
an additional 3,000,000 common units from QEPM at the same price. The common
units are expected to begin trading on the New York Stock Exchange on August
9, 2013 under the ticker symbol “QEPM.” The offering is expected to close on
or about August 14, 2013, subject to customary closing conditions.

Upon conclusion of the offering, the public will own a 36.7% limited partner
interest in the Partnership, or a 42.2% limited partner interest if the
underwriters exercise, in full, their option to purchase additional common
units. QEP Resources, Inc. (“QEP”), through certain of its subsidiaries, will
hold a 2.0% general partner interest, all of the incentive distribution
rights, and a 61.3% limited partner interest in the Partnership, or a 55.8%
limited partner interest if the underwriters exercise, in full, their option
to purchase additional units. Wells Fargo Securities, Morgan Stanley,
Citigroup, Deutsche Bank Securities and J.P. Morgan are acting as joint
book-running managers for the offering; Goldman, Sachs & Co. is acting as a
senior co-manager and BMO Capital Markets, SunTrust Robinson Humphrey, BB&T
Capital Markets, CIBC, Mitsubishi UFJ Securities, Piper Jaffray, TD Securities
and Janney Montgomery Scott are acting as co-managers for the offering.

This offering of common units will be made only by means of a prospectus. When
available, a written prospectus, which meets the requirements of Section 10 of
the Securities Act of 1933, as amended, may be obtained through:

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

Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
Telephone: 866-718-1649
Email: prospectus@morganstanley.com

Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 1-800-831-9146
Email: batprospectusdept@citi.com

Deutsche Bank Securities
Attn: Prospectus Group
60 Wall Street, New York, NY 10005-2836
Telephone: 1-800-503-4611
Email: prospectus.CPDG@db.com

J.P. Morgan
via Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: (866) 803-9204


To obtain a copy of the prospectus free of charge, visit the U.S. Securities
and Exchange Commission’s (“SEC:”) website, www.sec.gov, and search under the
registrant’s name, “QEP Midstream Partners, LP.”

A registration statement relating to these securities has been filed with, and
declared effective by, the SEC. The registration statement is available on the
SEC’s website at 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 the securities, nor shall there be any sale of
these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.

About QEP Midstream Partners, LP:

QEP Midstream Partners, LP is a master limited partnership formed by QEP
Resources, Inc. to own, operate, acquire and develop midstream assets. The
Partnership provides midstream gathering services to QEP and third-party
companies in the Green River, Uinta and Williston basins.

Forward-Looking Statements

Disclosures in this press release contain certain forward-looking statements
within the meaning of the federal securities laws. Statements that do not
relate strictly to historical or current facts are forward-looking. These
statements contain words such as “possible,” “if,” “will” and “expect” and
involve risks and uncertainties including, among others that our business
plans may change as circumstances warrant and securities of the Partnership
may not ultimately be offered to the public because of general market
conditions or other factors. Accordingly, investors should not place undue
reliance on forward-looking statements as a prediction of actual results.
Neither QEP nor QEPM undertake any obligation to update or revise such
forward-looking statements to reflect events or circumstances that occur, or
of which QEP or QEPM becomes aware, after the date hereof.

Contact:

QEP Midstream Partners, LP
Greg Bensen, 303-405-6665
Director, Investor Relations
 
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