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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES        
Gas sales $ 129.4 $ 171.6 $ 363.3 $ 609.2
Oil sales 211.7 393.5 640.9 1,041.0
NGL sales 16.5 51.1 61.7 179.3
Other revenue 2.8 3.4 12.4 5.1
Purchased gas and oil sales 176.3 290.4 558.6 780.1
Total Revenues 536.7 910.0 1,636.9 2,614.7
OPERATING EXPENSES        
Purchased gas and oil expense 175.1 288.4 561.7 775.5
Lease operating expense 56.7 61.1 175.6 177.0
Gas, oil and NGL transportation and other handling costs 78.1 71.1 216.2 198.5
Gathering and other expense 1.3 1.4 4.4 4.8
General and administrative 42.0 49.4 140.7 147.0
Production and property taxes 30.2 59.4 90.7 160.8
Depreciation, depletion and amortization 238.1 251.4 649.3 712.5
Exploration expenses 0.8 0.8 2.7 4.7
Impairment 15.0 0.1 35.5 3.6
Total operating expenses 637.3 783.1 1,876.8 2,184.4
Net gain (loss) from asset sales 12.9 (11.8) 6.9 (210.3)
OPERATING INCOME (LOSS) (87.7) 115.1 (233.0) 220.0
Realized and unrealized gains (losses) on derivative contracts (Note 8) 153.6 155.7 168.5 (13.2)
Interest and other income 0.3 4.2 1.5 7.8
Income from unconsolidated affiliates 0.0 0.1 0.0 0.2
Interest expense (36.4) (41.5) (109.4) (128.4)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 29.8 233.6 (172.4) 86.4
Income tax (provision) benefit (8.7) (79.9) 61.6 (26.1)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS 21.1 153.7 (110.8) 60.3
Net income from discontinued operations, net of income tax 0.0 17.4 0.0 58.2
NET INCOME (LOSS) $ 21.1 $ 171.1 $ (110.8) $ 118.5
Earnings Per Common Share Attributable to QEP        
Earnings Per Share, Basic $ 0.12 $ 0.95 $ (0.63) $ 0.66
Earnings Per Share, Diluted $ 0.12 $ 0.94 $ (0.63) $ 0.66
Weighted-average common shares outstanding        
Used in basic calculation (in shares) 176.7 180.1 176.5 180.0
Used in diluted calculation (in shares) 176.7 180.6 176.5 180.4
Dividends per common share (in dollars per share) $ 0.02 $ 0.02 $ 0.06 $ 0.06
Continuing Operations [Member]        
Earnings Per Common Share Attributable to QEP        
Earnings Per Share, Basic 0.12 0.85 (0.63) 0.34
Earnings Per Share, Diluted 0.12 $ 0.84 (0.63) $ 0.34
Discontinued Operations [Member]        
REVENUES        
NGL sales   $ 28.8   $ 94.6
Other revenue   43.1   119.9
Purchased gas and oil sales [1]   (11.9)   (38.5)
Total Revenues   60.0   176.0
OPERATING EXPENSES        
Purchased gas and oil expense [1]   (12.4)   (39.5)
Lease operating expense [1]   (1.7)   (4.8)
Gas, oil and NGL transportation and other handling costs [1]   (10.6)   (40.1)
Gathering and other expense   22.7   69.8
General and administrative   11.1   34.3
Production and property taxes   2.1   6.1
Depreciation, depletion and amortization   14.3   43.1
Total operating expenses   25.5   68.9
Net gain (loss) from asset sales   0.0   (0.1)
OPERATING INCOME (LOSS)   34.5   107.0
Interest expense   (1.5)   (2.8)
Net income from discontinued operations, net of income tax   $ 17.4   $ 58.2
Earnings Per Common Share Attributable to QEP        
Earnings Per Share, Basic 0.00 $ 0.10 0.00 $ 0.32
Earnings Per Share, Diluted $ 0.00 $ 0.10 $ 0.00 $ 0.32
[1] Includes discontinued intercompany eliminations