CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012		Mar. 31, 2011
REVENUES
Natural gas sales	$ 161.2		$ 312.6
Oil sales	110.8		63.0
NGL sales	97.4		47.9
Gathering, processing and other	49.8		46.6
Purchased gas and oil sales	184.0		147.8
Total Revenues	603.2	[1],[2]	617.9	[1]
OPERATING EXPENSES
Purchased gas and oil expense	188.4		146.7
Lease operating expense	34.5		32.8
Natural gas, oil and NGL transportation and other handling costs	33.9		21.7
Gathering, processing and other	23.7		25.2
General and administrative	36.0		31.7
Production and property taxes	24.7		23.7
Depreciation, depletion and amortization	199.2		190.8
Exploration expenses	2.0		2.8
Abandonment and impairment	6.6		5.4
Total Operating Expenses	555.2		480.8
Net gain from asset sales	1.5		0
OPERATING INCOME	49.5	[3]	137.1	[3]
Realized and unrealized gains on commodity derivative instruments (see Note 7)	216.3		0
Interest and other income	1.7		0.6
Income from unconsolidated affiliates	1.9		0.9
Interest expense	(24.7)		(22.1)
INCOME BEFORE INCOME TAXES	244.7		116.5
Income taxes	(88.7)		(42.7)
NET INCOME	156.0		73.8
Net income attributable to noncontrolling interest	(0.8)		(0.6)
NET INCOME ATTRIBUTABLE TO QEP	$ 155.2		$ 73.2
Earnings Per Common Share Attributable to QEP
Basic total	$ 0.87		$ 0.42
Diluted total	$ 0.87		$ 0.41
Weighted-average common shares outstanding
Used in basic calculation	177.4		176.2
Used in diluted calculation	178.5		178.3
Dividends per common share	$ 0.02		$ 0.02

[1] Operating (loss) income in the first quarter of 2012 excludes the impact of realized commodity derivative contract settlements. During the first quarter of 2012 realized gains and losses from realized commodity derivative contract settlements were included below operating income. Conversely, under hedge accounting, realized gains and losses from realized commodity derivative contract settlements were included in revenues and operating income during the first quarter of 2011.

[2] Revenues for the three months ended March 31, 2011 have been recast to reflect QEP's revised reporting of its transportation and handling costs. See Note 2 "Basis of Presentation of Interim Consolidated Financial Statements" for additional information. In addition, revenues for the three months ended March 31, 2011 reflect the impact of QEP's settled derivative contracts which during the three months ended March 31, 2012 are reflected below operating income. See Note 7 "Derivative Contracts" for detailed information on derivative contract settlements in the first quarter of 2011.

[3] Net income attributable to QEP in the first quarter of 2012 includes the impact of unrealized gains and losses from changes in the fair value of the commodity derivative contract. Conversely, under hedge accounting, unrealized gains and losses from changes in the fair value were deferred in accumulated other comprehensive income during the first quarter of 2011.