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Net Income/(Loss) Per Limited Partner Unit (Tables)
 9 Months Ended
Sep. 30, 2013
Net Income/(Loss) Per Limited Partner Unit [Abstract]  
Calculation Of Net Loss Per Limited Partner Unit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

                                                                 

 

September 30, 2013

 

September 30, 2012

 

September 30, 2013

 

September 30, 2012

Net income  (loss)

 

$
(21,497)

 

$
(44,660)

 

$
33,943 

 

$
77,814 

Net income attributable to noncontrolling interest

 

 
(222)

 

 

 -

 

 
(222)

 

 

 -

Net loss attributable to predecessor operations

 

 

 -

 

 
(347)

 

 

 -

 

 
(30,931)

Distribution on Class C convertible preferred units

 

 
(3,500)

 

 
(3,500)

 

 
(10,500)

 

 
(10,500)

Amortization of preferred unit discount

 

 
(3,908)

 

 
(3,751)

 

 
(11,605)

 

 
(11,140)

Distribution on Class B units

 

 
(2,990)

 

 

 -

 

 
(8,970)

 

 

 -

Net income  (loss) available to other unitholders

 

 
(32,117)

 

 
(52,258)

 

 
2,646 

 

 
25,243 

Less: general partners' interest in net income

 

 
1,244 

 

 
3,705 

 

 
2,014 

 

 
6,150 

Limited partners' interest in net income (loss)

 

$
(33,361)

 

$
(55,963)

 

$
632 

 

$
19,093 

Common unitholders' interest in net income (loss)

 

$
(33,361)

 

$
(46,930)

 

$
632 

 

$
16,717 

Subordinated unitholders' interest in net income (loss)

 

$

 -

 

$
(9,033)

 

$

 -

 

$
2,376 

Net income (loss) attributable to QR Energy, LP per limited partner unit:

 

 

 

 

 

 

 

 

 

 

 

 

Common unitholders' (basic)

 

$
(0.57)

 

$
(1.25)

 

$
0.01 

 

$
0.49 

Common unitholders' (diluted)

 

$
(0.57)

 

$
(1.25)

 

$
0.01 

 

$
0.49 

Subordinated unitholders' (basic)

 

$

 -

 

$
(1.26)

 

$

 -

 

$
0.33 

Subordinated unitholders' (diluted)

 

$

 -

 

$
(1.26)

 

$

 -

 

$
0.33 

Weighted average number of limited partner units outstanding (in thousands) (1) :

 

 

 

 

 

 

 

 

 

 

 

 

Common units (basic)

 

 
58,572 

 

 
37,425 

 

 
58,494 

 

 
34,347 

Common units (diluted)

 

 
58,572 

 

 
37,425 

 

 
58,494 

 

 
34,347 

Subordinated units (basic and diluted)

 

 

 -

 

 
7,146 

 

 

 -

 

 
7,146 

 

(1)

For the three and nine months ended September 30, 2013 and 2012, we had weighted average preferred units outstanding of 16,666,667. For the three months ended September 30, 2013 and 2012, we had weighted average Class B units outstanding of 6,133,558 and zero. For the nine months ended September 30, 2013 and 2012, we had weighted average of Class B units outstanding of 5,987,364 and zero, respectively. The preferred and Class B units are contingently convertible into common units and could potentially dilute earnings per unit in the future. The preferred and Class B units have not been included in the diluted earnings per unit calculation for the three and nine months ended September 30, 2013, as they were anti-dilutive for the periods. The preferred units were not included in the diluted earnings per unit calculation for the three and nine months ended September 30, 2012, as they were anti-dilutive for the periods.