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Acquisitions & Divestitures
9 Months Ended
Sep. 30, 2016
Business Combinations [Abstract]  
Acquisitions & Divestitures [Text Block]
Acquisitions

During the three months ended September 30, 2016, QEP acquired various oil and gas properties, primarily proved undeveloped leasehold acreage in the Williston Basin, for an aggregate purchase price of $16.3 million. The Company recorded a $4.4 million bargain purchase gain associated with the acquisition. The bargain purchase gain is reported on the Condensed Consolidated Statements of Operations within "Interest and other income (expense)". During the three months ended September 30, 2015, QEP acquired various oil and gas properties, primarily undeveloped leasehold acreage in the Permian Basin, for an aggregate purchase price of $24.1 million.

During the nine months ended September 30, 2016, QEP acquired various oil and gas properties, primarily in the Williston and Permian basins, for an aggregate purchase price of $46.1 million, including additional interests in QEP's operated wells and additional undeveloped leasehold acreage. In conjunction with the acquisitions, the Company recorded $3.7 million of goodwill and a $4.4 million bargain purchase gain. During the nine months ended September 30, 2015, QEP acquired various oil and gas properties, primarily undeveloped leasehold acreage in the Permian Basin, for an aggregate purchase price of $23.5 million.

Divestitures

During the three and nine months ended September 30, 2016, QEP received proceeds of $5.2 million and $28.9 million, respectively, and recorded a pre-tax gain on sale of $5.3 million and $5.0 million, respectively, primarily related to the divestiture of certain non-core properties in Other Southern. During the three and nine months ended September 30, 2015, QEP recorded a pre-tax gain on sale of $12.9 million and $6.9 million, respectively, comprised of a gain related to divestitures and post-closing purchase price adjustments of certain non-core properties in Other Southern, partially offset by a loss recognized for post-closing adjustments related to the sale of QEP's midstream business in 2014. These gains and losses are reported on the Condensed Consolidated Statements of Operations within "Net gain (loss) from asset sales".