XML 73 R45.htm IDEA: XBRL DOCUMENT v3.3.1.900
Supplemental Gas and Oil Information - Unaudited (Tables)
 12 Months Ended
Dec. 31, 2015
Extractive Industries [Abstract]  
Capitalized costs of cost-of-service gas and oil properties net of the related accumulated depreciation and amortization
Capitalized costs of gas and oil properties and the related amounts of accumulated depreciation, depletion and amortization are shown below:
 
December 31,
 
2015
 
2014
 
(in millions)
Wexpro
 
 
 
Proved properties
$
1,649.2

 
$
1,675.6

Unproved properties
5.2

 
12.8

Total Wexpro capitalized costs
1,654.4

 
1,688.4

Accumulated depreciation, depletion and amortization
(789.9
)
 
(757.3
)
Net Wexpro capitalized costs
864.5

 
931.1

Net Questar Gas capitalized costs
5.8

 
6.4

Net capitalized costs
$
870.3

 
$
937.5
Cost incurred for cost-of-service gas and oil development activities
The costs incurred for gas and oil development activities are displayed in the table below. The costs incurred to develop proved undeveloped reserves were $22.5 million in 2015, $28.9 million in 2014 and $106.3 million in 2013.
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(in millions)
Property acquisition
 
 
 
 
 
Unproved
$
4.8

 
$
11.9

 
$
0.3

Proved
13.8

 
54.1

 
106.4

Exploration (capitalized and expensed)
0.7

 
1.6

 
—

Development
27.7

 
49.1

 
133.1

Total costs incurred
$
47.0

 
$
116.7

 
$
239.8
Results of operations for cost-of-service gas- and oil-producing activities, before corporate overhead and interest expenses
Following are the results of operations for gas- and oil-producing activities, excluding corporate overhead and interest costs:
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(in millions)
Revenues
 
 
 
 
 
From unaffiliated customers
$
22.9

 
$
35.6

 
$
45.1

From affiliated company(1)
319.1

 
350.3

 
294.8

Total revenues
342.0

 
385.9

 
339.9

Production costs
50.1

 
67.5

 
57.5

Exploration expenses
0.7

 
1.6

 
—

Depreciation, depletion and amortization
99.4

 
100.5

 
85.8

Abandonment and impairment
12.5

 
2.0

 
—

Total expenses
162.7

 
171.6

 
143.3

Revenues less expenses
179.3

 
214.3

 
196.6

Income taxes
(59.6
)
 
(71.4
)
 
(70.5
)
Results of operations for gas- and oil-producing activities (excluding corporate overhead and interest costs)
$
119.7

 
$
142.9

 
$
126.1


(1) Primarily represents revenues received from Questar Gas pursuant to the Wexpro agreements. Revenues include reimbursement of general and administrative expenses amounting to $28.9 million in 2015, $30.5 million in 2014 and $27.5 million in 2013.
Estimated quantities of cost-of-service proved gas and oil reserves
Estimated quantities of proved gas and oil reserves are set forth below:
 
Natural Gas
 
Oil and NGL
 
Natural Gas Equivalents
 
(Bcf)
 
(Mbbl)
 
(Bcfe)
Proved Reserves
 
 
 
 
 
Balances at December 31, 2012
697.2

 
6,169

 
734.2

Revisions of previous estimates
(112.8
)
 
(1,348
)
 
(120.8
)
Extensions and discoveries
153.5

 
857

 
158.6

Purchase of reserves in place
133.9

 
556

 
137.2

Production
(60.6
)
 
(617
)
 
(64.3
)
Balances at December 31, 2013
811.2

 
5,617

 
844.9

Revisions of previous estimates
(220.2
)
 
(442
)
 
(222.7
)
Extensions and discoveries
4.0

 
205

 
5.2

Purchase of reserves in place
35.9

 
157

 
36.8

Sale of reserves in place
(0.5
)
 
(219
)
 
(1.9
)
Production
(64.3
)
 
(587
)
 
(67.8
)
Balances at December 31, 2014
566.1

 
4,731

 
594.5

Revisions of previous estimates
(58.7
)
 
(1,424
)
 
(67.2
)
Extensions and discoveries
79.7

 
320

 
81.6

Purchase of reserves in place
10.8

 
29

 
11.0

Sale of reserves in place
(3.2
)
 
—

 
(3.2
)
Production
(62.1
)
 
(464
)
 
(64.9
)
Balances at December 31, 2015
532.6

 
3,192

 
551.8

 
 
 
 
 
 
Proved Developed Reserves
 
 
 
 
 
Balances at December 31, 2012
523.9

 
4,967

 
553.7

Balances at December 31, 2013
560.0

 
4,384

 
586.3

Balances at December 31, 2014
552.9

 
4,678

 
581.0

Balances at December 31, 2015
453.3

 
2,885

 
470.7

 
 
 
 
 
 
Proved Undeveloped Reserves
 
 
 
 
 
Balances at December 31, 2012
173.3

 
1,202

 
180.5

Balances at December 31, 2013
251.2

 
1,233

 
258.6

Balances at December 31, 2014
13.2

 
53

 
13.5

Balances at December 31, 2015
79.3

 
307

 
81.1
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure [Table Text Block]
The standardized measure of future net cash flows relating to non-cost-of-service proved reserves is presented in the table below:
 
December 31,
December 31,
 
2015
2014
 
(in millions)
(in millions)
Future cash inflows
$
29.5

$
190.7

Future production costs
(15.7
)
(65.9
)
Future income tax expenses
(4.8
)
(43.7
)
Future net cash flows
9.0

81.1

10% annual discount for estimated timing of net cash flows
(3.6
)
(34.4
)
Standardized measure of discounted future net cash flows
$
5.4

$
46.7
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Table Text Block]
The principal sources of change in the standardized measure of future net cash flows relating to non-cost-of-service proved reserves are presented in the table below:
 
Year Ended December 31,
Year Ended December 31,
 
2015
2014
 
(in millions)
(in millions)
Balance at beginning of year
$
46.7

$
—

Net increase due to purchases of reserves in place
6.0

46.8

Transfer to cost-of-service properties
(25.9
)
—

Sales of gas and oil produced during the period, net of production costs
(8.4
)
(1.5
)
Net change in prices and production costs related to future production
(31.0
)
0.8

Net change due to revisions of quantity estimates
(0.4
)
—

Accretion of discount
6.7

0.6

Net change in income taxes
11.7

—

Net Change
(41.3
)
46.7

Balance at end of year
$
5.4

$
46.7