Subsidiary Guarantors (Tables)

9 Months Ended

Sep. 30, 2014

Subsidiary Guarantors [Abstract]

Condensed Consolidating Balance Sheets

Condensed Consolidating Balance Sheets
	September 30, 2014
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Assets
Current assets
Cash	$	110	$	-	$	13,608	$	2,441	$	-	$	16,159
Accounts receivable				-		49,080		2,780		(481)		51,379
Due from affiliates		187,238		-		-		-		(187,238)		-
Derivative instruments				-		33,744		-		-		33,744
Prepaid and other current assets				-		3,119		219		-		3,338
Total current assets		187,348		-		99,551		5,440		(187,719)		104,620
Noncurrent assets
Oil and natural gas properties and other property and equipment, net		-		-		1,687,275		15,439		-		1,702,714
Derivative instruments		-		-		29,681		-		-		29,681
Investment in subsidiaries		660,926		-		17,921		-		(678,847)		-
Other assets		22,394		-		14,974		20,476		-		57,844
Total noncurrent assets		683,320		-		1,749,851		35,915		(678,847)		1,790,239
Total assets		870,668		-		1,849,402		41,355		(866,566)		1,894,859
Liabilities and Partners' Capital
Current liabilities
Current portions of asset retirement obligations	$	-	$	-	$	4,895	$	-	$	-	$	4,895
Due to affiliates		-		-		188,125		-		(187,238)		887
Derivative instruments		-		-		7,378		-		-		7,378
Accrued and other liabilities		18,837		-		68,295		1,658		(481)		88,309
Total current liabilities		18,837		-		268,693		1,658		(187,719)		101,469
Noncurrent liabilities
Long-term debt		296,981		-		755,000		-		-		1,051,981
Deferred Class B unit obligation		134,894		-		-		-		-		134,894
Derivative instruments		-		-		5,283		-		-		5,283
Asset retirement obligations		-		-		154,202		5,341		-		159,543
Other liabilities		-		-		5,298		6,891		-		12,189
Total noncurrent liabilities		431,875		-		919,783		12,232		-		1,363,890
Partners' capital
QR Energy, LP partners' capital		419,956		-		660,926		27,465		(688,391)		419,956
Noncontrolling interest		-		-		-		-		9,544		9,544
Total partners' capital		419,956		-		660,926		27,465		(678,847)		429,500
Total liabilities and partners' capital	$	870,668	$	-	$	1,849,402	$	41,355	$	(866,566)	$	1,894,859

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 September 30, 2014
Total revenues	$	-	$	-	$	124,505	$	7,146	$	(1,463)	$	130,188
Expenses
Production and disposal and related expenses		-		-		51,271		6,085		(1,463)		55,893
Depreciation, depletion and amortization		-		-		32,495		116		-		32,611
General and administrative		2,433		-		7,770		-		-		10,203
Accretion of asset retirement obligations and acquisition and transaction costs		-		-		6,281		76		-		6,357
Total expenses		2,433		-		97,817		6,277		(1,463)		105,064
Operating income		(2,433)		-		26,688		869		-		25,124
Loss on commodity derivative contracts		-		-		70,231		-		-		70,231
Interest expense, net, income tax expense and other income, net		(7,244)		-		(4,526)		26		-		(11,744)
Gain on Deferred Class B unit obligation		18,855		-		-		-		-		18,855
Equity in earnings (loss)		92,919		-		526		-		(93,445)		-
Net (loss) income		102,097		-		92,919		895		(93,445)		102,466
Less: Net income attributable to noncontrolling interest		-		-		-		-		369		369
Net income (loss) attributable to QR Energy, LP	$	102,097	$	-	$	92,919	$	895	$	(93,814)	$	102,097

Condensed Consolidating Statements of Operations
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Three Months Ended September 30, 2013
Total revenues	$	-	$	-	$	122,150	$	4,506	$	(649)	$	126,007
Expenses
Production and disposal and related expenses		-		-		44,010		3,895		(649)		47,256
Depreciation, depletion and amortization		-		-		27,961		57		-		28,018
General and administrative		1,939		-		9,265		-		-		11,204
Accretion of asset retirement obligations and acquisition and transaction costs		-		-		2,312		44		-		2,356
Total expenses		1,939		-		83,548		3,996		(649)		88,834
Operating income		(1,939)		-		38,602		510		-		37,173
Loss on commodity derivative contracts		-		-		(45,377)		-		-		(45,377)
Interest expense, net, income tax expense and other income, net		(7,244)		-		(6,044)		(5)		-		(13,293)
Loss on Deferred Class B unit obligation		-		-		-		-		-		-
Equity in earnings (loss)		(12,536)		-		281		-		12,255		-
Net (loss) income		(21,719)		-		(12,538)		505		12,255		(21,497)
Less: Net income attributable to noncontrolling interest		-		-		-		-		222		222
Net income (loss) attributable to QR Energy, LP	$	(21,719)	$	-	$	(12,538)	$	505	$	12,033	$	(21,719)

Condensed Consolidating Statements of Operations
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Nine Months Ended September 30, 2014
Total revenues	$	-	$	-	$	369,466	$	20,780	$	(4,129)	$	386,117
Expenses
Production and disposal and related expenses		-		-		147,018		17,728		(4,129)		160,617
Depreciation, depletion and amortization		-		-		92,886		317		-		93,203
General and administrative		5,925		-		23,894		-		-		29,819
Accretion of asset retirement obligations and acquisition and transaction costs		-		-		14,752		224		-		14,976
Total expenses		5,925		-		278,550		18,269		(4,129)		298,615
Operating income		(5,925)		-		90,916		2,511		-		87,502
Loss on commodity derivative contracts		-		-		(18,691)		-		-		(18,691)
Interest expense, net, income tax expense and other income, net		(21,732)		-		(16,814)		22		-		(38,524)
Gain on Deferred Class B unit obligation		6,883		-		-		-		-		6,883
Equity in earnings		56,907		-		1,496		-		(58,403)		-
Net (loss) income		36,133		-		56,907		2,533		(58,403)		37,170
Less: Net income attributable to noncontrolling interest		-		-		-		-		1,037		1,037
Net income (loss) attributable to QR Energy, LP	$	36,133	$	-	$	56,907	$	2,533	$	(59,440)	$	36,133

Condensed Consolidating Statements of Operations
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Nine Months Ended September 30, 2013
Total revenues	$	-	$	-	$	332,466	$	4,506	$	(649)	$	336,323
Expenses				-								-
Production and disposal and related expenses		-		-		129,247		3,895		(649)		132,493
Depreciation, depletion and amortization		-		-		85,439		57		-		85,496
General and administrative		5,125		-		26,273		-		-		31,398
Accretion of asset retirement obligations and acquisition and transaction costs		-		-		6,422		44		-		6,466
Total expenses		5,125		-		247,381		3,996		(649)		255,853
Operating income		(5,125)		-		85,085		510		-		80,470
Loss on commodity derivative contracts		-		-		(11,860)		-		-		(11,860)
Interest expense, net, income tax expense and other income, net		(22,224)		-		(12,438)		(5)		-		(34,667)
Loss on Deferred Class B unit obligation		-		-		-		-		-		-
Equity in earnings		61,070		-		281		-		(61,351)		-
Net (loss) income		33,721		-		61,068		505		(61,351)		33,943
Less: Net income attributable to noncontrolling interest		-		-		-		-		222		222
Net income (loss) attributable to QR Energy, LP	$	33,721	$	-	$	61,068	$	505	$	(61,573)	$	33,721

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 September 30, 2014
Net income (loss)	$	102,097	$	-	$	92,919	$	895	$	(93,445)	$	102,466
Other comprehensive income, net of tax:
Reclassification adjustment for avail-for-sale securities		65		-		65		111		(130)		111
Change in fair value of available-for-sale securities		(266)		-		(266)		(451)		532		(451)
Pension and postretirement benefit:
Actuarial gain		(28)		-		(28)		(46)		56		(46)
Total other comprehensive income		(229)		-		(229)		(386)		458		(386)
Total comprehensive income (loss)		101,868		-		92,690		509		(92,987)		102,080
Less: Comprehensive income attributable to noncontrolling interest		-		-		-		-		212		212
Comprehensive income (loss) attributable to QR Energy, LP	$	101,868	$	-	$	92,690	$	509	$	(93,199)	$	101,868

Condensed Consolidating Statements of Comprehensive Income
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Three Months Ended September 30, 2013
Net income (loss)	$	(21,719)	$	-	$	(12,538)	$	505	$	12,255	$	(21,497)
Other comprehensive income, net of tax:
Reclassification adjustment for avail-for-sale securities		-		-		-		-		-		-
Change in fair value of available-for-sale securities		100		-		100		179		(200)		179
Pension and postretirement benefit:
Actuarial gain		-		-		-		-		-		-
Total other comprehensive income		100		-		100		179		(200)		179
Total comprehensive income (loss)		(21,619)		-		(12,438)		684		12,055		(21,318)
Less: Comprehensive income attributable to noncontrolling interest		-		-		-		-		301		301
Comprehensive income (loss) attributable to QR Energy, LP	$	(21,619)	$	-	$	(12,438)	$	684	$	11,754	$	(21,619)

Condensed Consolidating Statements of Comprehensive Income
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Nine Months Ended September 30, 2014
Net income (loss)	$	36,133	$	-	$	56,907	$	2,533	$	(58,403)	$	37,170
Other comprehensive income, net of tax:
Reclassification adjustment for available-for-sale securities		55		-		55		93		(110)		93
Change in fair value of available-for-sale securities		(35)		-		(35)		(60)		70		(60)
Pension and post retirement befefit:
Actuarial gain		(81)		-		(81)		(136)		162		(136)
Total other comprehensive income		(61)		-		(61)		(103)		122		(103)
Total comprehensive income (loss)		36,072		-		56,846		2,430		(58,281)		37,067
Less: Comprehensive income attributable to noncontrolling interest		-		-		-		-		995		995
Comprehensive income (loss) attributable to QR Energy, LP	$	36,072	$	-	$	56,846	$	2,430	$	(59,276)	$	36,072

Condensed Consolidating Statements of Comprehensive Income
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Nine Months Ended September 30, 2013
Net income (loss)	$	33,721	$	-	$	61,068	$	505	$	(61,351)	$	33,943
Other comprehensive income, net of tax:
Reclassification adjustment for available-for-sale securities		-		-		-		-		-		-
Change in fair value of available-for-sale securities		100		-		100		179		(200)		179
Pension and post retirement befefit:
Actuarial gain		-		-		-		-		-		-
Total other comprehensive income		100		-		100		179		(200)		179
Total comprehensive income (loss)		33,821		-		61,168		684		(61,551)		34,122
Less: Comprehensive income attributable to noncontrolling interest		-		-		-		-		301		301
Comprehensive income (loss) attributable to QR Energy, LP	$	33,821	$	-	$	61,168	$	684	$	(61,852)	$	33,821

Condensed Consolidating Statements of Cash Flows
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Nine Months Ended September 30, 2014
Net cash (used in) provided by operating activities	$	(28,242)	$	-	$	160,912	$	1,794	$	-	$	134,464
Cash flows from investing activities
Additions to oil and natural gas properties		-		-		(117,650)		(1,787)		-		(119,437)
Acquisitions		-		-		(44,251)		-		-		(44,251)
Divestitures of oil and gas properties						1,300						1,300
Distributions from subsidiaries		137,278		-		-		-		(137,278)		-
Proceeds from sale of available-for-sale securities		-		-		-		3,749		-		3,749
Purchases of available-for-sale securities		-		-		-		(4,022)		-		(4,022)
Net cash (used in) provided by investing activities		137,278		-		(160,601)		(2,060)		(137,278)		(162,661)
Cash flows from financing activities
Distributions to unitholders		(106,582)		-		-		-		-		(106,582)
Proceeds from bank borrowings				-		178,000				-		178,000
Repayments on bank borrowings						(38,000)						(38,000)
Distributions to Parent		-		-		(137,278)		-		137,278		-
Other		(2,422)		-		-		-		-		(2,422)
Net cash (used in) provided by financing activities		(109,004)		-		2,722		-		137,278		30,996
Net increase (decrease) in cash		32		-		3,033		(266)		-		2,799
Cash at beginning of period		78		-		10,575		2,707		-		13,360
Cash at end of period	$	110	$	-	$	13,608	$	2,441	$	-	$	16,159

Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows
		Parent Co-Issuer		Subsidiary Co-Issuer		Guarantor		Non-Guarantor		Eliminations		Consolidated
Nine Months Ended September 30, 2013
Net cash (used in) provided by operating activities	$	(28,050)	$	-	$	169,511	$	357	$	-	$	141,818
Cash flows from investing activities												-
Additions to oil and natural gas properties		-		-		(65,898)		-		-		(65,898)
Acquisitions		-		-		(105,177)		3,481		-		(101,696)
Distributions from subsidiaries		136,449		-		-		-		(136,449)		-
Proceeds from sale of available-for-sale securities		-		-		-		4,643		-		4,643
Purchases of available-for-sale securities		-		-		-		(4,268)		-		(4,268)
Net cash (used in) provided by investing activities		136,449		-		(171,075)		3,856		(136,449)		(167,219)
Cash flows from financing activities
Distributions to unitholders		(106,226)		-		-		-		-		(106,226)
Proceeds from bank borrowings		-		-		150,000		-		-		150,000
Repayments on bank		-		-		(20,000)		-		-		(20,000)
Repayments on intercompany borrowings		-		-		(33,213)		-		33,213		-
Distributions to Parent		-		-		(103,236)		-		103,236		-
Other		(2,241)		-		(1,904)		-		-		(4,145)
Net cash (used in) provided by financing activities		(108,467)		-		(8,353)		-		136,449		19,629
Net increase (decrease) in cash		(68)		-		(9,917)		4,213		-		(5,772)
Cash at beginning of period		68		-		31,768		-		-		31,836
Cash at end of period	$	-	$	-	$	21,851	$	4,213	$	-	$	26,064