Subsequent Event

6 Months Ended

Jun. 30, 2014

Subsequent Event [Abstract]

Subsequent Events

Subsequent Events

QEP Field Services Divestiture

On July 1, 2014, QEP Field Services sold 40% of the membership interests in Green River Processing, LLC (Green River Processing), a wholly owned subsidiary of QEP Field Services, to QEP Midstream for $230.0 million. QEP Midstream funded the Green River Processing Acquisition with $220.0 million of borrowings under their credit facility and cash on hand. The transaction will be accounted for as a transaction between entities under common control with the difference between the carrying amount and the purchase price recorded to equity.

Green River Processing owns the Blacks Fork processing complex and the Emigrant Trail processing plant, both of which are located in southwest Wyoming. The aggregate processing capacity of Green River Processing is up to 890 MMcf per day, comprised of up to 560 MMcf per day of cryogenic processing capacity and 330 MMcf per day of Joule-Thomson processing capacity. In addition, there is 15,000 bbl per day of NGL fractionation capacity at the Blacks Fork processing complex.