CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended			6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011		Jun. 30, 2012		Jun. 30, 2011
REVENUES
Natural gas sales	$ 138.9	$ 298.7		$ 300.1		$ 611.3
Oil sales	107.2	80.7		218.0		143.7
NGL sales	82.1	63.8		179.5		111.7
Gathering, processing and other	45.8	58.9		95.6		105.5
Purchased gas, oil and NGL sales	125.3	306.0		309.3		453.8
Total Revenues	499.3	808.1	[1]	1,102.5	[2]	1,426.0	[3]
OPERATING EXPENSES
Purchased gas, oil and NGL expense	124.9	303.9		313.3		450.6
Lease operating expense	40.5	34.3		80.6		67.1
Natural gas, oil and NGL transportation and other handling costs	40.7	24.0		75.2		45.7
Gathering, processing and other	20.6	27.2		44.3		52.4
General and administrative	36.8	28.7		72.8		60.4
Production and property taxes	19.4	27.1		44.1		50.8
Depreciation, depletion and amortization	214.1	186.6		413.3		377.4
Exploration expenses	2.1	2.3		4.1		5.1
Abandonment and impairment	55.7	5.3		62.3		10.7
Total Operating Expenses	554.8	639.4		1,110.0		1,120.2
Net gain from asset sales	0	0.2		1.5		0.2
OPERATING (LOSS) INCOME	(55.5)	168.9	[4]	(6.0)	[5]	306.0	[6]
Realized and unrealized gains on derivative contracts (See Note 6)	82.3	0		298.6		0
Interest and other income (loss)	0.9	(0.4)		2.6		0.2
Income from unconsolidated affiliates	1.4	1.3		3.3		2.2
Loss from early extinguishment of debt	(0.6)	0		(0.6)		0
Interest expense	(28.2)	(22.1)		(52.9)		(44.2)
INCOME BEFORE INCOME TAXES	0.3	147.7		245.0		264.2
Income taxes	(0.1)	(54.2)		(88.8)		(96.9)
NET INCOME	0.2	93.5		156.2		167.3
Net income attributable to noncontrolling interest	(0.9)	(0.7)		(1.7)		(1.3)
NET (LOSS) INCOME ATTRIBUTABLE TO QEP	$ (0.7)	$ 92.8	[7]	$ 154.5	[8]	$ 166.0	[9]
Earnings Per Common Share Attributable to QEP
Basic total (in dollars per share)	$ 0.00	$ 0.52		$ 0.87		$ 0.94
Diluted total (in dollars per share)	$ 0.00	$ 0.52		$ 0.87		$ 0.93
Weighted-average common shares outstanding
Used in basic calculation (in shares)	177.7	176.6		177.6		176.4
Used in diluted calculation (in shares)	177.7	178.6		178.5		178.5
Dividends per common share (in dollars per share)	$ 0.02	$ 0.02		$ 0.04		$ 0.04

[1] Revenues for the three months ended June 30, 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 June 30, 2011, reflect the impact of QEP’s settled derivative contracts. See Note 6 - Derivative Contracts for detailed information on derivative contract settlements in the three months ended June 30, 2011.

[2] The impact of QEP’s settled derivative contracts, for the six months ended June 30, 2012, are reflected below operating (loss) income.

[3] Revenues for the six months ended June 30, 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 six months ended June 30, 2011, reflect the impact of QEP’s settled derivative contracts. See Note 6 - Derivative Contracts for detailed information on derivative contract settlements in the six months ended June 30, 2011.

[4] Under hedge accounting, gains and losses from realized commodity derivative contract settlements were included in revenues and operating income during the three months ended June 30, 2011.

[5] Operating (loss) income for the six months ended June 30, 2012, excludes the impact of realized commodity derivative contract settlements. During the six months ended June 30, 2012, gains and losses from realized commodity derivative contract settlements were included below operating (loss) income.

[6] Under hedge accounting, realized gains and losses from realized commodity derivative contract settlements were included in revenues and operating income during the three and six months ended June 30, 2011.

[7] Under hedge accounting, unrealized gains and losses from changes in the fair value were deferred in accumulated other comprehensive income during the three months ended June 30, 2011.

[8] Net (loss) income attributable to QEP for the six months ended June 30, 2012, includes the impact of unrealized gains and losses from changes in the fair value of the commodity derivative contracts.

[9] Under hedge accounting, unrealized gains and losses from changes in the fair value were deferred in accumulated other comprehensive income during the three and six months ended June 30, 2011.