Subsequent Events

9 Months Ended

Sep. 30, 2013

Subsequent Events [Abstract]

Subsequent Events

NOTE 19 – SUBSEQUENT EVENTS

In preparing the accompanying financial statements, we have reviewed events that have occurred after September 30, 2013, through the issuance of the financial statements.

Revolving Credit Facility Borrowing Base Redetermination

On October 15, 2013, we completed our semi-annual borrowing base redetermination which resulted in our revolving credit facility borrowing base increasing to $950 million.

Third Quarter 2013 Distribution

On October 25, 2013, the board of directors of QRE GP declared a $0.4875 per unit distribution related to the third quarter 2013 which will be paid on November 14, 2013 to unitholders of record at the close of business on November 7, 2013. As a result of this declaration, a management incentive fee related to the third quarter 2013 in the amount of $1.4 million will be recognized during the three months ended December 31, 2013.