QEP Makes Another Move: $950 Million For Oil Acreage In The Permian; Not Much In Specifics

Reuters is reporting:

QEP Resources Inc said it would buy oil assets in Texas' Permian Basin as it looks to transform itself into a pure-play exploration and production company, following pressure from activist investor Jana Partners. The purchase of the oil and natural gas properties for about $950 million will add production of 6,700 barrels of oil equivalent per day (boepd), of which roughly 68 percent was crude oil, QEP said. 

Some other data points:

• QEP said last Monday that it planned to spin off its QEP Field Services division, as well as its 25 percent stake in QEP Midstream Partners LP;
• QEP said it would also sell some non-core assets located in the Mid-continent region during the first half of 2014; and, 
• QEP now expects to focus its spending on its oil assets, the Permian basin and North Dakota's Williston Basin, besides its liquids-rich gas assets in the Uinta Basin in Utah. 

Not much in the way of specifics, but it confirms that the three big shale plays remain: the Bakken, the Permian, the Eagle Ford. 

Yahoo!Finance reports it here, but again lacking in specifics.