March 29, 2017 10:27 AM ET

Oil, Gas and Consumable Fuels

Company Overview of QEP Midstream Partners, LP

Company Overview

QEP Midstream Partners, LP provides gathering, compression, transportation and processing services to producers and users of natural gas and crude oil in the United States. The company owns interests in four gathering systems and two federal energy regulatory commission-regulated pipelines. As of December 31, 2014 its gathering systems had 1,510 miles of pipeline. QEP Midstream Partners GP, LLC serves as the general partner of the company. The company was founded in 2013 and is based in San Antonio, Texas. QEP Midstream Partners, LP is a subsidiary of QEP Field Services Company.

19100 Ridgewood Parkway

San Antonio, TX 78259

United States

Founded in 2013

Phone:

210-626-6000

Key Executives for QEP Midstream Partners, LP

Chairman of the Board of Directors - QEP Midstream PartnersGP, LLC and Chief Executive Officer - QEP Midstream PartnersGP, LLC
Age: 59
President of QEP Midstream PartnersGP, LLC and Director of QEP Midstream PartnersGP, LLC
Age: 50
Chief Financial Officer of QEP Midstream PartnersGP, LLC, Vice President of QEP Midstream PartnersGP, LLC and Director of QEP Midstream PartnersGP, LLC
Age: 44
Vice President of Operations - QEP Midstream PartnersGP, LLC
Age: 48
General Counsel of QEP Midstream PartnersGP, LLC, Vice President of QEP Midstream PartnersGP, LLC, Secretary of QEP Midstream PartnersGP, LLC and Director of QEP Midstream PartnersGP, LLC
Age: 58
Compensation as of Fiscal Year 2016.

QEP Midstream Partners, LP Key Developments

Willie Briscoe and Powers Taylor LLP Files Class Action Suit Against QEP Midstream Partners, LP

Willie Briscoe and Powers Taylor LLP announced that a class action has been commenced in the United States District Court for the Western District of Texas on behalf of holders of QEP Midstream Partners, LP common stock on April 6, 2015, in connection with the proposed acquisition of QEP by Tesoro Logistics LP. The complaint charges QEP’s Board of Directors with violations of the Securities Exchange Act of 1934. On April 6, 2015, QEP announced that its Board had entered into a merger agreement with Tesoro whereby Tesoro will acquire QEP in a unit-for-unit exchange. Under the terms of the merger agreement, QEP public unitholders will receive 0.3088 Tesoro common units for each QEP Common Unit Held. The complaint alleges that on May 11, 2015, to encourage QEP unitholders to accept the merger, defendants filed a Registration Statement on Form N-14 8(c) with the SEC that contained material misstatements and omissions in violation of 14(a) and 20(a) of the 1934 Act. According to the complaint, the Registration Statement does not allow QEP unitholders to properly gauge the expected value they would gain in the merger. Among other things, the complaint alleges that the Registration Statement omits material details regarding the valuation methodologies QEP’s financial advisor, Tudor, Pickering, Holt & Co. Advisors, LLC, utilized in the fairness opinion it provided to the Board. The complaint concludes that the Registration Statement deprives QEP unitholders of the ability to cast rational, intelligent and informed votes in favor of or against the merger.

QEP Midstream Partners, LP Declares Quarterly Cash Distribution for the First Quarter 2015, Payable on May 15, 2015

QEP Midstream Partners, LP announced the declaration of its quarterly cash distribution for the first quarter 2015 of $0.32 per limited partnership unit, or $1.28 on an annualized basis. This distribution represents a 3% increase over the quarterly distribution of $0.31 per unit paid in February 2015. The first quarter distribution will be paid on May 15, 2015, to unit holders of record as of the close of business on May 4, 2015. In the prior four quarters, QEPM has increased its distribution to limited partners by 19%.

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Recent Private Companies Transactions

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