Subsequent Event (Notes)

9 Months Ended

Sep. 30, 2018

Subsequent Event [Line Items]

Subsequent Events [Text Block]

On November 6, 2018, the Company's wholly owned subsidiary, QEP Energy Company, entered into a definitive agreement to sell its assets in the Williston Basin for a purchase price of up to $1,725.0 million, subject to purchase price adjustments which may be material (the Williston Basin Divestiture). The purchase price is comprised of $1,650.0 million in cash and contractual rights to receive up to $50.0 million and $25.0 million in the buyer's common stock if the daily volume weighted average trading price of the buyer's common stock for 10 out of 20 consecutive trading days is at or above $12.00 per share and $15.00 per share, respectively. QEP shall be entitled to the equity consideration if the share price thresholds are met at any time during the five year period following closing of the transaction. The net book value of the Williston Basin assets being sold is approximately $2,521.8 million as of September 30, 2018, which consists primarily of property, plant and equipment and asset retirement obligations included on the Condensed Consolidated Balance Sheets. The transaction is subject to certain conditions, including, but not limited to, approval of buyer's shareholder and regulatory approvals and is expected to close late in the first quarter or early in the second quarter of 2019. At September 30, 2018, the Williston Basin assets were classified as held and used because the assets did not meet the held for sale criteria. Beginning in the fourth quarter of 2018, the assets and liabilities of the Williston Basin will be classified as held for sale in our Consolidated Balance Sheets for all comparative periods presented.