Nature of Business

3 Months Ended

Mar. 31, 2012

Nature Of Business [Abstract]

Nature of Business

Note 1 – Nature of Business

QEP Resources, Inc. (QEP or the Company) is a holding company with three major lines of business – gas and oil exploration and production, midstream field services, and energy marketing – which are conducted through its three principal subsidiaries:

• QEP Energy Company (QEP Energy) acquires, explores for, develops, and produces natural gas, oil, and natural gas liquids (NGL);

• QEP Field Services Company (QEP Field Services) provides midstream field services; including natural gas gathering, processing, compression, and treating services, for affiliates and third parties; and

• QEP Marketing Company (QEP Marketing) markets affiliate and third-party natural gas and oil, provides risk–management services, and owns and operates an underground gas-storage reservoir.

Operations are focused in the Northern Region (Rockies) and Southern Region (primarily Oklahoma, Louisiana, and the Texas Panhandle) of the United States. Company headquarters are located in Denver, Colorado. Shares of QEP common stock trade on the New York Stock Exchange (NYSE:QEP).