Subsidiary Guarantors (Tables)

6 Months Ended

Jun. 30, 2014

Subsidiary Guarantors [Abstract]

Condensed Consolidating Balance Sheets

Condensed Consolidating Balance Sheets
	June 30, 2014
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Assets
Current assets
Cash	$	73	$	-	$	3,064	$	3,278	$	-	$	6,415
Accounts receivable		-		-		53,617		2,979		(480)		56,116
Due from affiliates		201,782		-		-		-		(197,402)		4,380
Derivative instruments		-		-		15,065		-		-		15,065
Prepaid and other current assets		-		-		3,841		281		-		4,122
Total current assets		201,855		-		75,587		6,538		(197,882)		86,098
Noncurrent assets
Oil and natural gas properties and other property and equipment, net		-		-		1,652,732		14,756		-		1,667,488
Derivative instruments		-		-		14,265		-		-		14,265
Investment in subsidiaries		603,871		-		17,613		-		(621,484)		-
Other assets		22,360		-		15,442		20,092		-		57,894
Total noncurrent assets		626,231		-		1,700,052		34,848		(621,484)		1,739,647
Total assets		828,086		-		1,775,639		41,386		(819,366)		1,825,745
Liabilities and Partners' Capital
Current liabilities
Current portions of asset retirement obligations	$	-	$	-	$	4,356	$	-	$	-	$	4,356
Due to affiliates		-		-		197,402		-		(197,402)		-
Derivative instruments		-		-		26,009		-		-		26,009
Accrued and other liabilities		25,784		-		51,519		1,796		(480)		78,619
Total current liabilities		25,784		-		279,286		1,796		(197,882)		108,984
Noncurrent liabilities
Long-term debt		296,852		-		715,000		-		-		1,011,852
Deferred Class B unit obligation		153,749		-		-		-		-		153,749
Derivative instruments		-		-		19,471		-		-		19,471
Asset retirement obligations		-		-		151,182		5,265		-		156,447
Other liabilities		-		-		6,829		7,380		-		14,209
Total noncurrent liabilities		450,601		-		892,482		12,645		-		1,355,728
Partners' capital
QR Energy, LP partners' capital		351,701		-		603,871		26,945		(630,816)		351,701
Noncontrolling interest		-		-		-		-		9,332		9,332
Total partners' capital		351,701		-		603,871		26,945		(621,484)		361,033
Total liabilities and partners' capital	$	828,086	$	-	$	1,775,639	$	41,386	$	(819,366)	$	1,825,745

Condensed Consolidating Balance Sheets
	December 31, 2013
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Assets
Current assets
Cash	$	78	$	-	$	10,575	$	2,707	$	-	$	13,360
Accounts receivable		-		-		55,073		2,939		(570)		57,442
Due from affiliates		234,746		-		-		-		(230,831)		3,915
Derivative instruments		-		-		27,485		-		-		27,485
Prepaid and other current assets		-		-		1,718		141		-		1,859
Total current assets		234,824		-		94,851		5,787		(231,401)		104,061
Noncurrent assets
Oil and natural gas properties and other property and equipment, net		-		-		1,591,015		13,968		-		1,604,983
Derivative instruments		-		-		62,131		-		-		62,131
Investment in subsidiaries		711,734		-		16,478		-		(728,212)		-
Other assets		4,663		-		20,176		19,913		-		44,752
Total noncurrent assets		716,397		-		1,689,800		33,881		(728,212)		1,711,866
Total assets	$	951,221	$	-	$	1,784,651	$	39,668	$	(959,613)	$	1,815,927
Liabilities and Partners' Capital
Current liabilities
Current portions of asset retirement obligations	$	-	$	-	$	4,310	$	-	$	-	$	4,310
Due to affiliates		-		-		230,831		-		(230,831)		-
Derivative instruments		-		-		11,233		-		-		11,233
Accrued and other liabilities		25,718		-		52,100		1,797		(570)		79,045
Total current liabilities		25,718		-		298,474		1,797		(231,401)		94,588
Noncurrent liabilities
Long-term debt		296,593		-		615,000		-		-		911,593
Derivative instruments		-		-		6,251		-		-		6,251
Asset retirement obligations		-		-		145,893		5,118		-		151,011
Other liabilities		-		-		7,299		7,726		-		15,025
Total noncurrent liabilities		296,593		-		774,443		12,844		-		1,083,880
Partners' capital
QR Energy, LP partners' capital		628,910		-		711,734		25,027		(736,761)		628,910
Noncontrolling interest		-		-		-		-		8,549		8,549
Total partners' capital		628,910		-		711,734		25,027		(728,212)		637,459
Total liabilities and partners' capital	$	951,221	$	-	$	1,784,651	$	39,668	$	(959,613)	$	1,815,927

Condensed Consolidating Statements of Operations

Condensed Consolidating Statements of Operations
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Three Months Ended June 30, 2014
Total revenues	$	-	$	-	$	127,544	$	7,177	$	(1,415)	$	133,306
Expenses
Production and disposal and related expenses		-		-		49,728		5,792		(1,415)		54,105
Depreciation, depletion and amortization		-		-		30,656		100		-		30,756
General and administrative		1,678		-		7,783		-		-		9,461
Accretion of asset retirement obligations and acquisition and transaction costs		-		-		2,756		74		-		2,830
Total expenses		1,678		-		90,923		5,966		(1,415)		97,152
Operating income		(1,678)		-		36,621		1,211		-		36,154
Loss on commodity derivative contracts		-		-		(65,757)		-		-		(65,757)
Interest expense, net, income tax expense and other income, net		(7,244)		-		(7,225)		(96)		-		(14,565)
Loss on Deferred Class B unit obligation		(6,732)		-		-		-		-		(6,732)
Equity in earnings (loss)		(35,700)		-		661		-		35,039		-
Net (loss) income		(51,354)		-		(35,700)		1,115		35,039		(50,900)
Less: Net income attributable to noncontrolling interest		-		-		-		-		454		454
Net income (loss) attributable to QR Energy, LP	$	(51,354)	$	-	$	(35,700)	$	1,115	$	34,585	$	(51,354)

Condensed Consolidating Statements of Operations
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Six Months Ended June 30, 2014
Total revenues	$	-	$	-	$	244,961	$	13,634	$	(2,666)	$	255,929
Expenses
Production and disposal and related expenses		-		-		95,747		11,643		(2,666)		104,724
Depreciation, depletion and amortization		-		-		60,391		201		-		60,592
General and administrative		3,492		-		16,124		-		-		19,616
Accretion of asset retirement obligations and acquisition and transaction costs		-		-		8,471		148		-		8,619
Total expenses		3,492		-		180,733		11,992		(2,666)		193,551
Operating income		(3,492)		-		64,228		1,642		-		62,378
Loss on commodity derivative contracts		-		-		(88,922)		-		-		(88,922)
Interest expense, net, income tax expense and other income, net		(14,488)		-		(12,288)		(4)		-		(26,780)
Loss on Deferred Class B unit obligation		(11,972)		-		-		-		-		(11,972)
Equity in earnings		(36,012)		-		970		-		35,042		-
Net (loss) income		(65,964)		-		(36,012)		1,638		35,042		(65,296)
Less: Net income attributable to noncontrolling interest		-		-		-		-		668		668
Net income (loss) attributable to QR Energy, LP	$	(65,964)	$	-	$	(36,012)	$	1,638	$	34,374	$	(65,964)

Condensed Consolidating Statements Of Comprehensive Income

Condensed Consolidating Statements of Comprehensive Income
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Three Months Ended June 30, 2014
Net income (loss)	$	(51,354)	$	-	$	(35,700)	$	1,115	$	35,039	$	(50,900)
Other comprehensive income, net of tax:
Reclassification adjustment for avail-for-sale securities		-		-		-		(4)		-		(4)
Change in fair value of available-for-sale securities		187		-		187		318		(374)		318
Pension and postretirement benefit:
Actuarial gain		(28)		-		(28)		(46)		56		(46)
Total other comprehensive income		159		-		159		268		(318)		268
Total comprehensive income (loss)		(51,195)		-		(35,541)		1,383		34,721		(50,632)
Less: Comprehensive income attributable to noncontrolling interest		-		-		-		-		563		563
Comprehensive income (loss) attributable to QR Energy, LP	$	(51,195)	$	-	$	(35,541)	$	1,383	$	34,158	$	(51,195)

Condensed Consolidating Statements of Comprehensive Income
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Six Months Ended June 30, 2014
Net income (loss)	$	(65,964)	$	-	$	(36,012)	$	1,638	$	35,042	$	(65,296)
Other comprehensive income, net of tax:
Reclassification adjustment for available-for-sale securities		-		-		-		(18)		-		(18)
Change in fair value of available-for-sale securities		221		-		221		391		(442)		391
Pension and post retirement befefit:
Actuarial gain		(53)		-		(53)		(90)		106		(90)
Total other comprehensive income		168		-		168		283		(336)		283
Total comprehensive income (loss)		(65,796)		-		(35,844)		1,921		34,706		(65,013)
Less: Comprehensive income attributable to noncontrolling interest		-		-		-		-		783		783
Comprehensive income (loss) attributable to QR Energy, LP	$	(65,796)	$	-	$	(35,844)	$	1,921	$	33,923	$	(65,796)

Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Six Months Ended June 30, 2014
Net cash (used in) provided by operating activities	$	(14,566)	$	-	$	92,612	$	1,103	$	-	$	79,149
Cash flows from investing activities
Additions to oil and natural gas properties		-		-		(72,164)		(989)		-		(73,153)
Acquisitions		-		-		(40,434)		-		-		(40,434)
Distributions from subsidiaries		87,525		-		-		-		(87,525)		-
Proceeds from sale of available-for-sale securities		-		-		-		893		-		893
Purchases of available-for-sale securities		-		-		-		(436)		-		(436)
Net cash (used in) provided by investing activities		87,525		-		(112,598)		(532)		(87,525)		(113,130)
Cash flows from financing activities
Distributions to unitholders		(70,964)		-		-		-		-		(70,964)
Proceeds from bank borrowings		-		-		100,000		-		-		100,000
Distributions to Parent		-		-		(87,525)		-		87,525		-
Other		(2,000)		-		-		-		-		(2,000)
Net cash (used in) provided by financing activities		(72,964)		-		12,475		-		87,525		27,036
Net increase (decrease) in cash		(5)		-		(7,511)		571		-		(6,945)
Cash at beginning of period		78		-		10,575		2,707		-		13,360
Cash at end of period	$	73	$	-	$	3,064	$	3,278	$	-	$	6,415