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Discontinued Operations
 3 Months Ended
Mar. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
Discontinued Operations

In October 2014, the Company announced that its wholly owned subsidiary, QEP Field Services Company (QEP Field Services), had entered into a definitive agreement to sell substantially all of its midstream business, including the Company's ownership interest in QEP Midstream Partners, LP (QEP Midstream) to Tesoro Logistics LP (Tesoro). On December 2, 2014, QEP closed the sale of its midstream business to Tesoro (Midstream Sale) for total cash proceeds of approximately $2.5 billion, including $230.0 million to refinance debt at QEP Midstream, subject to post-closing adjustments, and QEP recorded a pre-tax gain of approximately $1.8 billion for the year ended December 31, 2014.

The operating results of QEP Field Services, excluding the Haynesville Gathering System (the Discontinued Operations of QEP Field Services), have been classified as discontinued operations on the Condensed Consolidated Statements of Operations and Notes accompanying the Condensed Consolidated Financial Statements for the three months ended March 31, 2014. QEP will have continuing cash outflows to the entities sold as a part of the Midstream Sale for gathering, processing and water handling costs in Pinedale, the Uinta Basin and a portion of its Williston Basin operations. The contracts related to these cash flows vary in length from month-to-month to over a year and will be reviewed periodically in the normal course of business. Historically, these transactions were eliminated in consolidation, as they represented transactions between two related entities but are now reflected as part of the continuing operations for QEP. For the three months ended March 31, 2015 and 2014, cash outflows for these transactions that are included in continuing operations were $22.7 million and $34.9 million, respectively.

In connection with the announcement of QEP's plan to separate its midstream business, the Board of Directors approved an employee retention plan to provide substantially all QEP Field Services' employees as of December 1, 2013, with a one-time lump-sum cash payment on the earlier of December 31, 2014, or whenever the separation of QEP Field Services occurred, conditioned on continued employment with QEP Field Services or a successor through the payment date unless the employee is terminated prior to such date. QEP recognized $10.4 million of costs under this retention plan in 2014, of which $2.3 million was included in "Discontinued operations, net of income tax" on the Condensed Consolidated Statements of Operations for the three months ended March 31, 2014.

Condensed Consolidated Statement of Operations

The Discontinued Operations of QEP Field Services are summarized below:
 
Three Months Ended
 
March 31,
 
2014
 
 
REVENUES
 
NGL sales
$
38.0

Other revenue
41.9

Purchased gas and oil sales(1)
(13.4
)
Total Revenues
66.5

OPERATING EXPENSES
 
Purchased gas and oil expense(1)
(13.8
)
Lease operating expense(1)
(1.1
)
Natural gas, oil and NGL transport and other handling costs(1)
(16.4
)
Gathering, processing, and other
24.3

General and administrative
11.3

Production and property taxes
1.5

Depreciation, depletion and amortization
14.3

Total Operating Expenses
20.1

OPERATING INCOME
46.4

Income from unconsolidated affiliates
2.2

Interest expense
(0.6
)
INCOME FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES (2)
48.0

Income taxes
(15.2
)
NET INCOME FROM DISCONTINUED OPERATIONS
32.8

Net income attributable to noncontrolling interest
(5.8
)
NET INCOME FROM DISCONTINUED OPERATIONS, NET OF INCOME TAX
$
27.0


(1) 
Includes discontinued intercompany eliminations.
(2) 
Includes income from discontinued operations before income taxes attributable to QEP from QEP Midstream (of which QEP owned 57.8%) of $6.8 million for the three months ended March 31, 2014.

Condensed Consolidated Statement of Cash Flows

The impact of the Discontinued Operations of QEP Field Services on the Condensed Consolidated Statement of Cash Flows for "Depreciation, depletion and amortization" contained in "Cash flows from operating activities" was $14.3 million for the three months ended March 31, 2014. The impact on cash used for "Property, plant and equipment, including dry exploratory well expense" contained in "Cash flows from investing activities" was $12.7 million for the three months ended March 31, 2014.