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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
OPERATING EXPENSES        
Impairment     $ 20.5 $ 3.5
Income from unconsolidated affiliates     0.0 3.4
NET INCOME (LOSS) $ (76.3) $ (92.3) $ (131.9) $ (52.6)
Earnings Per Common Share Attributable to QEP        
Earnings Per Share, Basic $ (0.43) $ (0.51) $ (0.75) $ (0.29)
Earnings Per Share, Diluted $ (0.43) $ (0.51) $ (0.75) $ (0.29)
Weighted-average common shares outstanding        
Used in basic calculation (in shares) 176.7 180.1 176.4 179.9
Used in diluted calculation (in shares) 176.7 180.1 176.4 179.9
Dividends per common share (in dollars per share) $ 0.02 $ 0.02 $ 0.04 $ 0.04
Continuing Operations [Member]        
REVENUES        
Gas sales $ 111.9 $ 215.1 $ 233.9 $ 437.6
Oil sales 250.4 358.8 429.2 647.5
NGL sales 26.1 65.0 45.2 128.2
Other revenue 5.2 (0.8) 9.6 1.7
Purchased gas and oil sales 215.0 249.1 382.3 489.7
Total Revenues 608.6 887.2 1,100.2 1,704.7
OPERATING EXPENSES        
Purchased gas and oil expense 217.2 249.2 386.6 487.1
Lease operating expense 57.1 59.5 118.9 115.9
Gas, oil and NGL transportation and other handling costs 73.0 67.5 138.1 127.4
Gathering and other expense 1.4 1.8 3.1 3.4
General and administrative 51.3 52.3 98.7 97.6
Production and property taxes 32.7 53.5 60.5 101.4
Depreciation, depletion and amortization 215.8 235.2 411.2 461.1
Exploration expenses 0.8 1.7 1.9 3.9
Impairment 0.5 1.5 20.5 3.5
Total operating expenses 649.8 722.2 1,239.5 1,401.3
Net gain (loss) from asset sales 24.5 (200.9) (6.0) (198.5)
OPERATING INCOME (16.7) (35.9) (145.3) 104.9
Realized and unrealized gains (losses) on derivative contracts (Note 8) (66.0) (88.0) 14.9 (168.9)
Interest and other income (expense) 3.8 0.8 1.2 3.7
Income from unconsolidated affiliates 0.0 0.1 0.0 0.1
Interest expense (36.2) (45.0) (73.0) (86.9)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (115.1) (168.0) (202.2) (147.1)
Income tax (provision) benefit 38.8 61.9 70.3 53.7
NET INCOME (LOSS) FROM CONTINUING OPERATIONS (76.3) (106.1) (131.9) (93.4)
Net income from discontinued operations, net of income tax 0.0 13.8 0.0 40.8
NET INCOME (LOSS) $ (76.3) $ (92.3) $ (131.9) $ (52.6)
Continuing Operations [Member]        
Earnings Per Common Share Attributable to QEP        
Earnings Per Share, Basic $ (0.43) $ (0.59) $ (0.75) $ (0.52)
Earnings Per Share, Diluted (0.43) $ (0.59) (0.75) $ (0.52)
Discontinued Operations [Member]        
REVENUES        
NGL sales   $ 27.8   $ 65.8
Other revenue   34.9   76.8
Purchased gas and oil sales [1]   (13.2)   (26.6)
Total Revenues   49.5   116.0
OPERATING EXPENSES        
Purchased gas and oil expense [1]   (13.3)   (27.1)
Lease operating expense [1]   (2.0)   (3.1)
Gas, oil and NGL transportation and other handling costs [1]   (13.1)   (29.5)
Gathering and other expense   22.8   47.1
General and administrative   11.9   23.2
Production and property taxes   2.5   4.0
Depreciation, depletion and amortization   14.5   28.8
Total operating expenses   23.3   43.4
Net gain (loss) from asset sales   (0.1)   (0.1)
OPERATING INCOME   26.1   72.5
Income from unconsolidated affiliates   1.1   3.3
Interest expense   (0.7)   (1.3)
Net income from discontinued operations, net of income tax   $ 13.8   $ 40.8
Earnings Per Common Share Attributable to QEP        
Earnings Per Share, Basic 0.00 $ 0.08 0.00 $ 0.23
Earnings Per Share, Diluted $ 0.00 $ 0.08 $ 0.00 $ 0.23
[1] Includes discontinued intercompany eliminations