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QEP Resources, Inc. Announces Executive Retirement

  QEP Resources, Inc. Announces Executive Retirement

Business Wire

DENVER -- August 28, 2013

QEP Resources, Inc. (NYSE: QEP) today announced that Jay Neese, Executive Vice
President, will retire at the end of the year. He has served QEP and its
predecessor company for more than 35 years.

“Jay helped grow QEP Energy into the successful, independent oil and gas
company that it is today. He led initiatives that resulted in growth and
diversification of the company, and he was instrumental in our 2010 spin-off,”
said Chuck Stanley, Chairman, President and CEO of QEP Resources. “On behalf
of the Board of Directors, employees and shareholders of QEP, I would like to
thank Jay for his many years of dedicated service and for his many
contributions to our company.”

Neese will be succeeded by Jim Torgerson, who is being promoted to Executive
Vice President, QEP Energy, on September 1, 2013. Torgerson has been with QEP
and its predecessor company for 10 years and most recently was QEP’s Senior
Vice President of Operations.

“Through his career of more than 25 years, Jim has gained extensive experience
in a number of the key plays in North America. His strong leadership skills
and knowledge of our assets will be critical to our organization moving
forward,” said Stanley. “As Senior Vice President of Operations, Jim led our
efforts to drive down drilling and completion costs, making QEP one of the
lowest cost developers in our industry.”

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:
theNorthern Region(primarily in the Rockies and theWilliston Basin) and the
Southern Region(primarily Oklahoma,Louisiana, and the Texas Panhandle)
ofthe United States.QEP Resourcesalso gathers, compresses, treats,
processes and stores natural gas. QEP Resources is the General Partner and a
majority owner of QEP Midstream Partners, LP (NYSE:QEPM). For more
information, visit QEP Resources’ website at: www.qepres.com.

Safe Harbor Statement

This release includes forward-looking statements within the meaning of Section
27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the
Securities Exchange Act of 1934, as amended. Forward-looking statements can be
identified by words such as “anticipates,” “believes,” “forecasts,” “plans,”
“estimates,” “expects,” “should,” “will” or other similar expressions. Such
statements are based on management’s current expectations, estimates and
projections, which are subject to a wide range of uncertainties and business
risks. These forward-looking statements include statements regarding the
retirement and replacement of the Company’s executive vice president and the
Company’s status as one of the lowest cost developers. Actual results may
differ materially from those included in the forward-looking statements due to
a number of factors, including, but not limited to: the availability of
capital; global geopolitical and macroeconomic factors; general economic
conditions, including interest rates; changes in local, regional, national and
global demand for natural gas, oil and NGL; natural gas, NGL and oil prices;
access to debt and capital markets; impact of new laws and regulations,
including regulations regarding the use of hydraulic fracture stimulation and
the implementation of the Dodd-Frank Act; drilling results; shortages of
oilfield equipment, services and personnel; operating risks such as unexpected
drilling conditions; weather conditions; changes in maintenance and
construction costs; risks related to the spin-off of certain assets from the
Company’s midstream business; acquisition risks; actions of the Company’s
competitors; loss of key personnel; and the other risks discussed in the
Company’s periodic filings with theSecurities and Exchange Commission,
including the Risk Factors section of the Company’s Annual Report on Form 10-K
for the year endedDecember 31, 2012.QEP Resourcesundertakes no obligation
to publicly correct or update the forward-looking statements in this news
release, in other documents, or on the website to reflect future events or
circumstances. All such statements are expressly qualified by this cautionary
statement.

Contact:

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