BB&T Capital Markets Serves as a Co-Manager on QEP Resources Inc.’s Follow-On Equity Offering
BB&T Capital Markets’ Energy Group completed a transaction for a natural gas & oil exploration and production company in the second quarter of 2016, helping to raise $367,000,000 in gross proceeds for our client.
The Company intends to use the net proceeds from the offering to partially fund the recently announced acquisition of oil and gas properties in the northern midland basin of the Permian Basin. The Company has granted the underwriters 30 days to exercise the over-allotment option, through which they may purchase an additional 3,000,000 shares.
About the Companies
QEP Resources, Inc. (“QEP” or “The Company”) is an independent natural gas and crude oil exploration and production company focused in Texas, Louisiana, and the Rocky Mountain region of the United States. QEP also gathers, compresses, treats, and processes natural gas.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.