Subsequent Events

3 Months Ended

Mar. 31, 2013

Subsequent Events [Abstract]

Subsequent Events

NOTE 16 – SUBSEQUENT EVENTS

In preparing the accompanying financial statements, we have reviewed events that have occurred after March 31, 2013,  through the issuance of the financial statements.

First Quarter 2013 Distribution Declared

On April 25, 2013, the board of directors of QRE GP declared a $0.4875 per unit distribution related to the first quarter 2013 which will be paid on May 15, 2013 to unitholders of record at the close of business on May 8, 2013.

Revolving Credit Facility Borrowing Base Redetermination

On May 1, 2013, we completed our semi-annual borrowing base redetermination which resulted in our revolving credit facility borrowing base remaining at $900 million.

Restricted Unit Issuance

On April 22, 2013, we granted approximately 441,000 Restricted Unit and approximately 149,000 Performance Unit awards to employees of QRM and 20,000 unit awards to independent directors of the Partnership. Refer to Note 12 – Unit-Based Compensation for details on our restricted units.