Questar finishes spinoff of exploration, development operations company QEP Resources

Questar finishes spinning off QEP Resources

SALT LAKE CITY — Questar Corp. said Thursday that it finished its spinoff of its exploration and development operations company QEP Resources Inc.

Questar, an energy company focused on natural gas, had said in April that it would split into two units because it combines two distinct businesses — one a regulated utility that provides steady but conservative returns, the other a fast-growing natural gas producer that can return higher but more volatile returns.

The spinoff was completed late Wednesday. QEP shareholders received one common share of QEP stock for every share of Questar stock they owned as of June 18, along with a prorata distribution of partial shares of stock.

Questar said that its CEO Keith O. Rattie will still be chairman of both companies. Charles B. Stanley will become QEP’s CEO, while Ronald W. Jibson will be CEO of Questar.

Questar shares rose 51 cents, or 3.5 percent, to $15.17 in midday trading. Shares of QEP were down $1.03, or 3.3 percent, at $29.80.