50,700 acres in the Permian are contiguous, making it easier to drill horizontal wells that extend up to two miles. QEP Resources is " carefully considering " a $ 2.07bn acquisition offer from hedge fund Elliott Management . According to anonymous sources , if the bid is accepted , minority shareholder Elliott would establish the currently underperforming QEP as an independent , private company , while also potentially accepting other bids for its contiguous 50,700 acres in the Permian Basin . Analyst Raymond James called the offer a " preliminary step in the negotiation process " .
QEP Resources is " carefully considering " a $ 2.07bn acquisition offer from hedge fund Elliott Management . According to anonymous sources , if the bid is accepted , minority shareholder Elliott would establish the currently underperforming QEP as an independent , private company , while also potentially accepting other bids for its contiguous 50,700 acres in the Permian Basin . Analyst Raymond James called the offer a " preliminary step in the negotiation process " .