On January 11, 2019, QEP Resources Inc. announced that it has closed the $735 million sale of its Haynesville shale assets to privately held Aethon Energy Management LLC, clearing a hurdle laid out by activist investor Elliott Management Corp. in the latter's $8.75-per-share takeout offer for the company. In addition, the Company state that it intends to use the sale proceeds to repay the outstanding balance on its revolving credit facility and to help fund a portion of its 2019 capital expenditure program.