Niska Gas Storage Partners (NKA) 10-Q 1 Aug 14 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Jun. 30, 2014	Jul. 31, 2014
Entity Registrant Name	'Niska Gas Storage Partners LLC	'
Entity Central Index Key	'0001483830	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--03-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	36,190,243
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q1	'

Consolidated_Statements_of_Ear

Consolidated Statements of Earnings (Loss) and Comprehensive Income (Loss) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Revenues:	'	'
Fee-based revenue	$42,754	$31,471
Optimization, net	12,623	25,718
Total revenues	55,377	57,189
Expenses (income):	'	'
Operating	10,953	10,444
General and administrative	10,075	11,290
Depreciation and amortization	49,966	10,333
Interest	12,313	16,206
Foreign exchange (gains) losses	-50	858
Other (income) expense	-16	391
EARNINGS (LOSS) BEFORE INCOME TAXES	-27,864	7,667
Income tax benefit	-8,892	-300
NET EARNINGS (LOSS) AND COMPREHENSIVE INCOME (LOSS)	-18,972	7,967
Net earnings (loss) allocated to:	'	'
Managing Member	-358	158
Common unitholders	($18,614)	$7,809
Earnings (loss) per unit allocated to common unitholders	'	'
basic (in dollars per unit)	($0.52)	$0.23
diluted (in dollars per unit)	($0.52)	$0.23

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Current Assets	'	'
Cash and cash equivalents	$6,790	$7,704
Margin deposits	73,541	32,626
Trade receivables	2,175	5,760
Accrued receivables	34,806	150,628
Natural gas inventory	254,791	75,140
Prepaid expenses and other current assets	5,750	4,330
Short-term risk management assets	12,709	20,949
Total current assets	390,562	297,137
Long-term Assets	'	'
Property, plant and equipment, net of accumulated depreciation	874,126	908,274
Goodwill	245,604	245,604
Intangible assets, net of accumulated amortization	50,654	65,462
Deferred charges, net of accumulated amortization	13,741	14,640
Other Assets	3,385	3,268
Long-term risk management assets	6,154	4,806
Total long-term assets	1,193,664	1,242,054
TOTAL	1,584,226	1,539,191
Current Liabilities	'	'
Revolving credit facilities	204,500	119,500
Current portion of obligations under capital lease	1,309	1,299
Trade payables	267	1,023
Current portion of deferred taxes	5,728	5,678
Deferred revenue	11,625	6,036
Accrued liabilities	107,941	111,118
Short-term risk management liabilities	14,210	19,105
Total current liabilities	345,580	263,759
Long-term Liabilities	'	'
Long-term risk management liabilities	11,363	12,209
Asset retirement obligations	2,056	1,975
Other long-term liabilities	1,160	1,809
Deferred income taxes	110,425	119,373
Obligations under capital lease	10,595	10,926
Long-term debt	575,000	575,000
Total long-term liabilities	710,599	721,292
Members' equity	'	'
Common units	254,127	279,604
Managing Member's interest	273,920	274,536
Total members' equity	528,047	554,140
Commitments and contingencies (Note 2)	'	'
TOTAL	$1,584,226	$1,539,191

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Operating Activities	'	'
Net earnings (loss)	($18,972)	$7,967
Adjustments to reconcile net earnings (loss) to net cash (used in) provided by operating activities:	'	'
Unrealized foreign exchange (gains) losses	-125	980
Deferred income tax benefit	-8,892	-300
Unrealized risk management losses (gains)	1,151	-20,118
Depreciation and amortization	49,966	10,333
Deferred charges amortization	912	835
Gain on disposal of assets	-14	'
Non-cash compensation expense	250	'
Changes in non-cash working capital	-101,172	84,666
Net cash (used in) provided by operating activities	-76,896	84,363
Investing Activities	'	'
Property, plant and equipment expenditures	-685	-302
Proceeds on sale of assets	14	'
Net cash used in investing activities	-671	-302
Financing Activities	'	'
Proceeds from revolver drawings	352,500	51,000
Revolver payments	-267,500	-105,000
Payments of deferred financing costs	-857	'
Repayments of obligations under capital lease	-321	-311
Distributions to unitholders	-7,368	-12,316
Net cash provided by (used in) financing activities	76,454	-66,627
Effect of translation on foreign currency cash and cash equivalents	199	-169
Net (decrease) increase in cash and cash equivalents	-914	17,265
Cash and cash equivalents, beginning of period	7,704	10,610
Cash and cash equivalents, end of period	$6,790	$27,875

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Members' Equity (USD $)	Total	Common Units	Subordinated Units	Managing Member Interest
In Thousands, unless otherwise specified
Balance at Mar. 31, 2013	$597,377	$321,642	$265,877	$9,858
Increase (Decrease) in Stockholders' Equity	'	'	'	'
Cancellation of subordinated units	'	'	-265,877	265,877
Net earnings (loss)	7,967	7,809	'	158
Distributions to unitholders	-14,945	-14,649	'	-296
Balance at Jun. 30, 2013	590,399	314,802	'	275,597
Balance at Mar. 31, 2014	554,140	279,604	'	274,536
Increase (Decrease) in Stockholders' Equity	'	'	'	'
Net earnings (loss)	-18,972	-18,614	'	-358
Distributions to unitholders	-13,756	-13,493	'	-263
Issuance of common units	6,385	6,385	'	'
Non-cash compensation expense	250	245	'	5
Balance at Jun. 30, 2014	$528,047	$254,127	'	$273,920

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	3 Months Ended
	Jun. 30, 2014
Organization and Basis of Presentation	'
Organization and Basis of Presentation	'
	1. Organization and Basis of Presentation
	Organization
	Niska Gas Storage Partners LLC (“Niska Partners” or the “Company”) is a publicly-traded Delaware limited liability company (NYSE:NKA) which independently owns and/or operates natural gas storage assets in North America. The Company operates the AECO Hub™, which consists of the Countess and Suffield gas storage facilities in Alberta, Canada and the Wild Goose and Salt Plains gas storage facilities in California and Oklahoma, respectively. Each of these facilities markets natural gas storage services in addition to optimizing storage capacity with proprietary gas purchases.
	At June 30, 2014, Niska Partners had 36,190,243 common units outstanding. Of this amount, 18,690,199 common units are owned by affiliates of Carlyle/Riverstone Global Energy and Power Fund II, L.P. and Carlyle/Riverstone Global Energy and Power Fund III, L.P. (collectively the “Carlyle/Riverstone Funds”), which include Niska Holdings, L.P. and Niska Sponsor Holdings Coopertief, U.A., along with a 1.89% Managing Member’s interest in the Company and all of the Company’s Incentive Distribution Rights (“IDRs”). Including all of the common units owned by the Carlyle/Riverstone Funds, along with the 1.89% Managing Member’s interest, the Carlyle/Riverstone Funds have a 52.56% ownership interest in the Company excluding the IDRs, which are a variable interest. The remaining 17,500,044 common units, representing a 47.44% ownership interest excluding the IDRs, were owned by the public.
	Basis of Presentation
	The accounting  policies applied in these unaudited interim financial statements are consistent with the policies applied in the consolidated financial statements of Niska Partners and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2014.
	In the opinion of management, the accompanying consolidated financial statements of Niska Partners, which are unaudited except for the balance sheet at March 31, 2014 which is derived from audited financial statements, include all adjustments necessary to present fairly Niska Partners’ financial position as of June 30, 2014, the results of Niska Partners’ operations and its cash flows for the three months ended June 30, 2014 and 2013. The results of operations for the three months ended June 30, 2014 are not necessarily representative of the results to be expected for the full fiscal year ending March 31, 2015.  The optimization of proprietary gas purchases is seasonal with the majority of the revenues and costs associated with the physical sale of proprietary gas generally occurring during the third and fourth fiscal quarters, when demand for natural gas is typically the strongest.
	Pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), the unaudited consolidated financial statements do not include all of the information and notes normally included with financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These consolidated financial statements should be read in conjunction with the consolidated financial statements of Niska Partners and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2014.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2014
Commitments and Contingencies	'
Commitments and Contingencies	'
	2. Commitments and Contingencies
	Commitments
	Niska Partners has entered into non-cancelable operating leases for office space, land use rights at its operating facilities, storage capacity at other facilities, equipment, and vehicles used in its operations. The remaining lease terms expire between October 2014 and August 2056 and require the payment of taxes, insurance and maintenance by the lessee.
	Contingencies
	Niska Partners and its subsidiaries are subject to various legal proceedings and actions arising in the normal course of business. While the outcome of such legal proceedings and actions cannot be predicted with certainty, it is the view of management that the resolution of such proceedings and actions will not have a material impact on Niska Partners’ unaudited consolidated financial position or results of operations.

Debt

Debt	3 Months Ended
	Jun. 30, 2014
Debt	'
Debt	'
	3. Debt
	Niska Partners’ debt obligations consist of the following:
		June 30,			March 31,
		2014			2014
	Senior Notes due 2019	$	575,000		$	575,000
	Revolving credit facilities	204,500			119,500
	Total	779,500			694,500
	Less portion classified as current	(204,500		)	(119,500		)
		$	575,000		$	575,000
	Senior Notes due 2019
	In March 2014, Niska Partners completed the private placement of senior unsecured notes due 2019 (the “6.50% Senior Notes”) through its subsidiaries Niska Gas Storage Finance Corp. and Niska Gas Storage Canada ULC (together, the “Issuers”). The 6.50% Senior Notes are senior unsecured obligations which are: (1) effectively junior to Niska Partners’ secured obligations to the extent of the value of the collateral securing such debt; (2) equal in right of payment with all existing and future senior unsecured indebtedness of the Company; and (3) senior in right of payment to any future subordinated indebtedness of Niska Partners. The 6.50% Senior Notes are fully and unconditionally guaranteed by Niska Partners and its direct and indirect subsidiaries on a senior unsecured basis, and are: (1) effectively junior to each guarantor’s secured obligations; (2) equal in right of payment with all existing and future senior unsecured indebtedness of each guarantor and (3) senior in right of payment to any future subordinated indebtedness of each guarantor.
	Interest on the 6.50% Senior Notes is payable semi-annually on October 1 and April 1, commencing on October 1, 2014, and will mature on April 1, 2019. As of June 30, 2014, the estimated fair market value of the Notes was $557.8 million.
	Prior to October 1, 2016, the Company has the option to redeem up to 35% of the aggregate principal amount of the 6.50% Senior Notes using net cash proceeds from certain equity offerings at a price of 106.5% plus accrued and unpaid interest. The Company may also redeem all or a part of the 6.50% Senior Notes at redemption prices (expressed as percentages of principal amount) equal to 103.25% during the twelve-month period beginning on October 1, 2016, 101.625% during the twelve-month period beginning on October 1, 2018 and at any time thereafter at par, plus accrued and unpaid interest. The Company is not required to make mandatory redemptions or sinking fund payments with respect to the 6.50% Senior Notes.
	The indenture governing the 6.50% Senior Notes limits Niska Partners’ ability to pay distributions in respect of, repurchase or pay dividends on its membership interests (or other capital stock) or make other restricted payments. The limitation changes depending on a fixed charge coverage ratio, which is defined as the ratio of consolidated cash flow to fixed charges, each as defined in the indenture governing the 6.50% Senior Notes, and measured for the preceding four quarters.
	If the fixed charge coverage ratio is not less than 1.75 to 1.0, Niska Partners is permitted to make restricted payments if the aggregate restricted payments since the date of closing of our IPO, excluding certain types of permitted payments, are less than the sum of a number of items including, most importantly:
	·         operating surplus (defined similarly to the definition in our Operating Agreement) calculated as of the end of our preceding fiscal quarter; and
	·         the aggregate net cash proceeds received as a capital contribution or from the issuance of equity interests.
	If the fixed charge coverage ratio is less than 1.75 to 1.0, Niska Partners is permitted to make restricted payments if the aggregate restricted payments since the date of closing of its IPO, excluding certain types of permitted payments, are less than the sum of a number of items including, most importantly:
	·         $75.0 million; and
	·         the aggregate net cash proceeds received as a capital contribution or from the issuance of equity interests.
	As of June 30, 2014, the fixed charge coverage ratio was 3.2 to 1.0 and the indenture governing the Notes would have permitted the Company to distribute approximately $372.4 million. The fixed charge amount used in the calculation of fixed charge coverage ratio was calculated on a pro-forma basis, taking into account the redemption of the 8.875% Senior Notes due 2018 as if the redemption had occurred on April 1, 2013. The indenture does not prohibit certain types or amounts of restricted payments, including a general basket of $75.0 million of restricted payments.
	The indenture governing the Notes contains certain other covenants that, among other things, limit Niska Partners and certain of its subsidiaries’ ability to:
	incur additional debt or issue certain capital stock;
	pay dividends on, repurchase or make distributions in respect of its capital stock or repurchase or retire subordinated indebtedness;
	make certain investments;
	sell assets;
	create liens;
	consolidate, merge, sell or otherwise dispose of all or substantially all of its assets;
	enter into certain transactions with its affiliates; and
	permit restrictions on the ability of its subsidiaries to make distributions.
	The occurrence of events involving the Company or certain of its subsidiaries may constitute an event of default under the indenture. Such events include failure to pay interest, principal, or the premium on the notes when due; failure to comply with the merger, asset sale or change of control covenants; certain defaults on other indebtedness; and certain insolvency proceedings. In the case of an event of default, the holders of the notes are entitled to remedies, including the acceleration of payment of the notes by request of the holders of at least 25% in aggregate principal amount of the notes, and any action by the trustee to collect payment of principal, interest or premium in arrears.
	Upon the occurrence of a change of control together with a decrease in the ratings of the 6.50% Senior Notes by either Moody’s or S&P by one or more gradations within 90 days of the change of control event, Niska Partners must offer to repurchase the Notes at 101% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to the date of repurchase.
	The Company’s ability to repurchase the 6.50% Senior Notes upon a change of control will be limited by the terms of its debt agreements, including its asset-based revolving credit facility. In addition, the Company cannot assure that it will have the financial resources to repurchase the Notes upon a change of control.
	$400 Million Credit Agreement
	Niska Partners, through its subsidiaries, Niska Gas Storage US, LLC and AECO Gas Storage Partnership, has senior secured asset-based revolving credit facilities, consisting of a U.S. revolving credit facility and a Canadian revolving credit facility, both of which are governed by a credit agreement (the “Credit Agreement” or the “$400 million Credit Agreement”). Each revolving credit facility matures on June 29, 2016.
	As of June 30, 2014, $204.5 million in borrowings, with a weighted average interest rate of 3.46% (March 31, 2014 - $119.5 million of borrowings had a weighted average interest rate of 3.56%), were outstanding under the credit facilities. Amounts committed in support of letters of credit totaled $5.4 million at June 30, 2014 (March 31, 2014 - $4.8 million). Any borrowings under the $400 million Credit Agreement are classified as current.
	The Credit Agreement provides that Niska Partners may borrow only up to the lesser of the level of the then current borrowing base or the committed maximum borrowing capacity, which is currently $400.0 million. As of June 30, 2014, the borrowing base collateral totaled $408.3 million.
	The $400 million Credit Agreement contains limitations on Niska Partners’ ability to incur additional debt or to pay distributions in respect of, repurchase or pay distributions on its membership interests (or other capital stock) or make other restricted payments. These limitations are similar to those contained in the indenture governing the 6.50% Senior Notes, but contain certain substantive differences.  As a result of these differences, the limitations on restricted payments contained in the Credit Agreement should be less restrictive than the limitations contained in the indenture.  As of June 30, 2014, Niska Partners was in compliance with all covenant requirements under the indenture governing the 6.50% Senior Notes and the $400 million Credit Agreement.
	Niska Partners has no independent assets or operations other than its investments in its subsidiaries. Both the 6.50% Senior Notes and the $400 million Credit Agreement have been jointly and severally guaranteed by Niska Partners and substantially all of its subsidiaries. Niska Partners’ subsidiaries have no significant restrictions on their ability to pay distributions or make loans to Niska Partners and have no restricted assets as of June 30, 2014.

Risk_Management_Activities_and

Risk Management Activities and Financial Instruments	3 Months Ended
	Jun. 30, 2014
Risk Management Activities and Financial Instruments	'
Risk Management Activities and Financial Instruments	'
	4. Risk Management Activities and Financial Instruments
	Risk Management Overview
	Niska Partners has exposure to commodity price, foreign currency, counterparty credit, interest rate and liquidity risks. Risk management activities are tailored to the risks they are designed to mitigate.
	Commodity Price Risk
	As a result of its natural gas inventory, Niska Partners is exposed to risks associated with changes in price when buying and selling natural gas across future time periods. To manage these risks and reduce variability of cash flows, the Company utilizes a combination of financial and physical derivative contracts, including forwards, futures, swaps and option contracts. The use of these contracts is subject to the Company’s risk management policies. These contracts have not been treated as hedges for financial reporting purposes and therefore changes in fair value are recorded directly in earnings.
	Forward contracts and futures contracts are agreements to purchase or sell a specific financial instrument or quantity of natural gas at a specified price and date in the future. Niska Partners enters into forward contracts and futures contracts to mitigate the impact of changes in natural gas prices. In addition to cash settlement, exchange traded futures may also be settled by the physical delivery of natural gas.
	Swap contracts are agreements between two parties to exchange streams of payments over time according to specified terms. Swap contracts require receipt of payment for the notional quantity of the commodity based on the difference between a fixed price and the market price on the settlement date. Niska Partners enters into commodity swaps to mitigate the impact of changes in natural gas prices.
	Option contracts are contractual agreements to convey the right, but not the obligation, for the purchaser of the option to buy or sell a specific physical or notional amount of a commodity at a fixed price, either at a fixed date or at any time within a specified period. Niska Partners enters into option agreements to mitigate the impact of changes in natural gas prices.
	To limit its exposure to changes in commodity prices, Niska Partners enters into purchases and sales of natural gas inventory and concurrently matches the volumes in these transactions with offsetting derivative contracts. To comply with its internal risk management policies, Niska Partners is required to limit its exposure of unmatched volumes of proprietary current natural gas inventory to an aggregate overall limit of 8.0 billion cubic feet (“Bcf”). At June 30, 2014, 57.9 Bcf of natural gas inventory was offset with financial contracts, representing 98.9% of total inventory. As of June 30, 2014 and March 31, 2014, the volumes of inventories which were economically hedged using each type of contract were:
		June 30,		March 31,
		2014		2014
	Forwards	0.3 Bcf		(1.4 Bcf)
	Futures	57.9 Bcf		20.1 Bcf
	Swaps	(0.3 Bcf)		(0.3 Bcf)
	Options	—		—
		57.9 Bcf		18.4 Bcf
	Counterparty Credit Risk
	Niska Partners is exposed to counterparty credit risk on its trade and accrued accounts receivable and risk management assets. Counterparty credit risk is the risk of financial loss to the Company if a customer fails to perform its contractual obligations. Niska Partners engages in transactions for the purchase and sale of products and services with major companies in the energy industry and with industrial, commercial, residential and municipal energy consumers.  Credit risk associated with trade accounts receivable is mitigated by the high percentage of investment grade customers, collateral support of receivables and Niska Partners’ ability to take ownership of customer owned natural gas stored in its facilities in the event of non-payment.  For the three months ended June 30, 2014 and 2013, no doubtful accounts expense was recognized as a result of receivables deemed to be uncollectible. It is management’s opinion that allowance for doubtful accounts of $ nil and $0.4 million were required as of June 30, 2014 and March 31, 2014, respectively, on the Company’s accrued and trade accounts receivable.
	The Company analyzes the financial condition of counterparties prior to entering into an agreement. Credit limits are established and monitored on an ongoing basis. Management believes, based on its credit policies, that the Company’s financial position, results of operations and cash flows will not be materially affected as a result of non-performance by any single counterparty. Credit risk is assessed prior to transacting with any counterparty and each counterparty is required to maintain an investment grade rating, provide a parental guarantee from an investment grade parent, or provide an alternative method of financial assurance (letter of credit, cash, etc.) to support proposed transactions. In addition, the Company’s tariffs contain provisions that permit it to take title to a customer’s inventory should the customer’s account remain unpaid for an extended period of time. Although the Company relies on a few counterparties for a significant portion of its revenues, one counterparty making up 64.0% and 42.6% of gross revenues for the three months ended June 30, 2014 and 2013, respectively, is a physical natural gas clearing and settlement facility that requires counterparties to post margin deposits equal to 125% of their net position, which reduces the risk of default.
	Exchange traded futures and options comprise approximately 57.5% of Niska Partners’ commodity risk management assets at June 30, 2014. These exchange traded contracts have minimal credit exposure as the exchanges guarantee that every contract will be margined on a daily basis. In the event of any default, Niska Partners’ account on the exchange would be absorbed by other clearing members. Because every member posts an initial margin, the exchange can protect the exchange members if or when a clearing member defaults.
	Niska Partners further manages credit exposure by entering into master netting agreements for the majority of non-retail contracts. These master netting agreements provide the Company, in the event of default, the right to offset the counterparty’s rights and obligations.
	Interest Rate Risk
	Niska Partners assesses interest rate risk by continually identifying and monitoring changes in interest rate exposures that may adversely impact expected future cash flows. At June 30, 2014, Niska Partners was only exposed to interest rate risk resulting from the variable rates associated with its $400 million Credit Agreement of which $204.5 million was drawn.
	Liquidity Risk
	Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. Niska Partners continues to manage its liquidity risk by ensuring sufficient cash and credit facilities are available to meet its operating and capital expenditure obligations when due, under both normal and stressed conditions.
	Foreign Currency Risk
	Foreign currency risk is created by fluctuations in foreign exchange rates. As Niska Partners conducts a portion of its activities in Canadian dollars, earnings and cash flows are subject to currency fluctuations. The performance of the Canadian dollar relative to the U.S. dollar could positively or negatively affect earnings. Niska Partners is exposed to cash flow risk to the extent that Canadian currency outflows exceed Canadian currency inflows. The Company enters into currency swaps to mitigate the impact of changes in foreign exchange rates. The notional value of currency swaps at June 30, 2014 was $32.5 million (March 31, 2014 - $13.0 million). These contracts expire on various dates from July 1, 2014 through June 1, 2016. Niska Partners has not elected hedge accounting treatment, therefore, changes in fair value are recorded directly in earnings.
	The following tables show the fair values of Niska Partners’ risk management assets and liabilities at June 30, 2014 and March 31, 2014:
		Energy			Currency
	June 30, 2014	Contracts			Contracts			Total
	Short-term risk management assets	$	11,340		$	1,369		$	12,709
	Long-term risk management assets	6,056			98			6,154
	Short-term risk management liabilities	(14,210		)	—			(14,210		)
	Long-term risk management liabilities	(11,363		)	—			(11,363		)
		$	(8,177	)	$	1,467		$	(6,710	)
		Energy			Currency
	March 31, 2014	Contracts			Contracts			Total
	Short-term risk management assets	$	18,939		$	2,010		$	20,949
	Long-term risk management assets	4,260			546			4,806
	Short-term risk management liabilities	(18,945		)	(160		)	(19,105		)
	Long-term risk management liabilities	(12,209		)	—			(12,209		)
		$	(7,955	)	$	2,396		$	(5,559	)
	Information about the Company’s risk management assets and liabilities that had netting or rights of offset arrangements are as follows:
	June 30, 2014	Gross Amounts			Gross Amounts			Net Amounts			Margin			Net Amounts
		Recognized			Offset in the			Presented in			Deposits not
					Balance Sheet			the Balance			Offset in the
								Sheet			Balance Sheet
	Assets
	Commodity derivatives	$	81,910		$	(64,514	)	$	17,396		$	(9,912	)	$	7,484
	Currency derivatives	1,645			(178		)	1,467			(940		)	527
	Total assets	83,555			(64,692		)	18,863			(10,852		)	8,011
	Liabilities
	Commodity derivatives	90,087			(64,514		)	25,573			(17,610		)	7,963
	Currency derivatives	178			(178		)	—			—			—
	Total liabilities	90,265			(64,692		)	25,573			(17,610		)	7,963
	Net	$	(6,710	)	—			$	(6,710	)	$	6,758		$	48
	March 31, 2014	Gross Amounts			Gross Amounts			Net Amounts			Margin			Net Amounts
		Recognized			Offset in the			Presented in			Deposits not
					Balance Sheet			the Balance			Offset in the
								Sheet			Balance Sheet
	Assets
	Commodity derivatives	$	113,175		$	(89,976	)	$	23,199		$	(15,101	)	$	8,098
	Currency derivatives	2,851			(295		)	2,556			(2,556		)	—
Total assets	116,026			(90,271		)	25,755			(17,657		)	8,098
Liabilities
Commodity derivatives	121,130			(89,976		)	31,154			(21,705		)	9,449
Currency derivatives	455			(295		)	160			(160		)	—
Total liabilities	121,585			(90,271		)	31,314			(21,865		)	9,449
Net	$	(5,559	)	$	—		$	(5,559	)	$	4,208		$	(1,351	)
The Company expects to recognize risk management assets and liabilities outstanding at June 30, 2014 into net earnings and comprehensive income in the fiscal periods as follows:
	Energy			Currency
	Contracts			Contracts			Total
Fiscal year ending March 31, 2015	$	(3,176	)	$	919		$	(2,257	)
Fiscal year ending March 31, 2016	(469		)	548			79
Fiscal year ending March 31, 2017	709			—			709
Thereafter	(5,241		)	—			(5,241		)
	$	(8,177	)	$	1,467		$	(6,710	)
Net realized and unrealized optimization gains and losses from the settlement of risk management contracts are summarized as follows:
	Three Months Ended
	June 30,
	2014			2013			Classification
Energy contracts
Realized	$	4,765		$	(6,342	)	Optimization, net
Unrealized	(222		)	19,090			Optimization, net
Currency contracts
Realized	1,196			1,464			Optimization, net
Unrealized	(929		)	1,028			Optimization, net
	$	4,810		$	15,240

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Jun. 30, 2014
Fair Value Measurements	'
Fair Value Measurements	'
	5. Fair Value Measurements
	The carrying amount of cash and cash equivalents, margin deposits, trade receivables, accrued receivables, trade payables and accrued liabilities reported on the unaudited consolidated balance sheet approximate fair value.
	Fair values have been determined as follows for Niska Partners financial assets and liabilities that were accounted for or disclosed at fair value on a recurring basis:
	June 30, 2014	Level 1		Level 2		Level 3		Total
	Assets
	Commodity derivatives	$	—	$	17,396	$	—	$	17,396
	Currency derivatives	—		1,467		—		1,467
	Total assets	—		18,863		—		18,863
	Liabilities
	Commodity derivatives	—		25,573		—		25,573
	Currency derivatives	—		—		—		—
	Long-term debt	—		557,750		—		557,750
	Total liabilities	$	—	$	583,323	$	—	$	583,323
	March 31, 2014	Level 1		Level 2		Level 3		Total
	Assets
	Commodity derivatives	$	—	$	23,199	$	—	$	23,199
	Currency derivatives	—		2,556		—		2,556
	Total assets	—		25,755		—		25,755
	Liabilities
	Commodity derivatives	$	—	$	31,154	$	—	$	31,154
	Currency derivatives	—		160		—		160
	Long-term debt	—		570,700		—		570,700
	Total liabilities	$	—	$	602,014	$	—	$	602,014
	The Company’s derivative assets and liabilities recorded at fair value on a recurring basis have been categorized as Level 2. The determination of the fair value of assets and liabilities for Level 2 valuations is generally based on a market approach. The key inputs used in Niska Partners’ valuation models include transaction-specific details such as notional volumes, contract prices and contract terms as well as forward market prices and basis differentials for natural gas obtained from third-party service providers (typically the New York Mercantile Exchange, or NYMEX). There were no changes in Niska Partners’ approach to determining fair value and there were no transfers out of Level 2 during the periods ended June 30, 2014 and March 31, 2014.
	The fair value of debt is the estimated amount the Company would have to pay to transfer its debt, including any premium or discount attributable to the difference between the stated interest rate and market rate of interest at the balance sheet date. Fair values are supported by observable market transactions when available.

Members_Equity

Members' Equity	3 Months Ended
	Jun. 30, 2014
Members' Equity	'
Members' Equity	'
	6. Members’ Equity
	Equity Restructuring
	On April 2, 2013, Niska Partners completed an equity restructuring with affiliates of the Carlyle/Riverstone Funds.  In the restructuring, all of the Company’s 33.8 million subordinated units and previous incentive distribution rights (all of which were owned by the Carlyle/Riverstone Funds) were combined into and restructured as a new class of incentive distribution rights.  The equity restructuring, which did not require any further consents or approvals, was effective as of the same day.  The transaction was unanimously approved by the Company’s Board of Directors on the unanimous approval and recommendation of its Conflicts Committee, which is composed solely of independent directors.
	The restructuring permanently eliminated all of the Company’s subordinated units and previous incentive distribution rights in return for the IDRs.  Prior to completion of the restructuring, the Company would have been required to pay the full minimum quarterly distribution of $0.35 per unit on the subordinated units (requiring additional distributions of approximately $12 million per quarter) prior to increasing the quarterly distribution on common units. Quarterly distributions on the subordinated units had not been paid since the quarter ended September 30, 2011.
	The IDRs entitle the Carlyle/Riverstone Funds to receive 48% of any quarterly cash distributions after Niska Partners’ common unit holders have received the full minimum quarterly distribution ($0.35 per unit) for each quarter plus any arrearages from prior quarters (of which there are currently none).  The previous incentive distribution rights entitled the Carlyle/Riverstone Funds to receive increasing percentages (ranging from 13% to 48%) of incremental cash distributions after the unit holders (both common and subordinated) exceeded quarterly distributions ranging from $0.4025 per unit to $0.5250 per unit.  In addition, for a period of five years, and provided that the Carlyle/Riverstone Funds continue to own a majority of both the managing member and the IDRs, the Carlyle/Riverstone Funds will be deemed to own 33.8 million “Notional Subordinated Units” in connection with votes to remove and replace the managing member.  These Notional Subordinated Units are not entitled to distributions, but preserve the Carlyle/Riverstone Fund’s voting rights with respect to removal of the managing member.
	Distribution Reinvestment Plan
	During the three months ended June 30, 2014, unitholders, substantially all of which were comprised of the Carlyle/Riverstone Funds, elected to participate in the distribution reinvestment plan and were issued 445,183 common units in lieu of receiving cash distributions of $6.4 million.
	Class D Partnership Units
	On May 7, 2014, Niska Holdings L.P. (the “Sponsor Partnership”), which is the parent of Niska Sponsor Holdings Coöperatief U.A. (which is the direct and indirect parent of the Company) awarded non-voting Class D Units in the Sponsor Partnership (the “Class D Units”) to William H. Shea, Jr., a director of the Company and the Company’s Chairman, President and Chief Executive Officer, Mark D. Casaday, the Company’s Chief Operating Officer, Robert B. Wallace, the Company’s Vice President, Finance and Corporate Development, and Bruce D. Davis, Jr., the Company’s Vice President and Chief Administrative Officer. The Class D Units are profits interest awards which have a service condition. As the Class D Units were issued to employees and a director, equity-classified compensation expense has been recorded in the Company’s financial statements.
	Class D Partnership Units (continued)
	The Class D Units entitle the holders thereof to 15% of distributions made by the Sponsor Partnership to its Class A unitholders after its Class A unitholders receive distributions made by the Sponsor Partnership after May 17, 2014 in excess of the amount of any capital contributions made by the Class A unitholders after May 17, 2014 plus $331.0 million, each increased by 8% per annum compounded quarterly. The Sponsor Partnership will retain distributions (other than tax distributions) in respect of unvested Class D Units until such Class D Units vest. Of the awarded Class D Units, 20% will vest on May 6, 2015. The remaining unvested units will vest at a rate of 5% on the last day of each fiscal quarter during the period commencing on June 30, 2015 and ending on March 31, 2019. The units have no expiry date provided the employee remains employed with the Sponsor Partnership, the Company or one or more of their respective subsidiaries. The fair value of the Class D Units is based on an enterprise value, with allocations of that value calculated under the terms of Niska Holdings L.P.’s operating agreement.
	For the quarter ended June 30, 2014, $0.3 million in non-cash compensation expense was recorded related to the Class D Units.
	Phantom Unit Performance Plan
	The Company maintains a compensatory phantom unit performance plan (the “PUPP” or “the Plan”) to provide long-term incentive compensation for certain employees and directors and to align their economic interest with those of common unitholders.
	The Plan permits the grant of unit awards, restricted units, phantom units, unit options, unit appreciation rights, other unit-based awards, distribution equivalent rights and substitution awards covering an aggregate of 3,380,474 units. As of June 30, 2014, 1,472,296 units (March 31, 2014 - 1,483,708 units) were available for grant.
	The following tables summarize the Company’s Phantom Units Outstanding and nonvested Phantom Units as of June 30, 2014:
		Number of Time-		Number of		Total Units
		Based Units		Performance-Based
				Units
	Phantom Units outstanding - March 31, 2014	835,360		487,200		1,322,560
	Exercised	(501,101	)	(237,422	)	(738,523	)
	Forfeited	(88,736	)	(55,619	)	(144,355	)
	Distribution equivalent rights	6,361		5,051		11,412
	Phantom Units outstanding - June 30, 2014	251,884		199,210		451,094
		Number of Time-		Number of		Total Units
		Based Units		Performance-Based
				Units
	Nonvested Phantom Units - March 31, 2014	466,858		312,764		779,622
	Vested	(132,599	)	(62,986	)	(195,585	)
	Forfeited	(88,736	)	(55,619	)	(144,355	)
	Distribution equivalent rights	6,361		5,051		11,412
	Nonvested Phantom Units - June 30, 2014	251,884		199,210		451,094
	As of June 30, 2014, there was $3.0 million of total unrecognized compensation cost related to nonvested Phantom Units granted that were subject to both time and performance conditions. This cost is expected to be recognized over the next two years.
	Information on the weighted average unit price at grant date and number of Phantom Units granted follows:
		Three Months Ended
		June 30,
		2014			2013
	Weighted average price per unit at grant date	$	—		$	12.68
	Number of Phanton Units granted	—			270,042
	Unit-based compensation costs for the three months ended June 30, 2014 and 2013 were $1.2 million and $3.2 million, respectively. Cash paid to employees who exercised their Phantom Units for the three months ended June 30, 2014 and 2013 was $10.6 million and $2.3 million, respectively.
	Earnings per unit:
	Niska Partners uses the two-class method for allocating earnings per unit. The two-class method requires the determination of net income allocated to member interests as shown below.
		Three Months Ended
		June 30,
		2014			2013
	Numerator:
	Net earnings (loss) attributable to Niska Partners	$	(18,972	)	$	7,967
	Less:
	Managing Member’s interest	358			(158		)
	Net earnings (loss) attributable to common unitholders	$	(18,614	)	$	7,809
	Denominator:
	Basic:
	Weighted average units outstanding	35,911,392			34,492,245
	Diluted:
	Weighted average units outstanding	35,911,392			34,492,245
	Earnings (loss) per unit:
	Basic	$	(0.52	)	$	0.23
	Diluted	$	(0.52	)	$	0.23

Revenues

Revenues	3 Months Ended
	Jun. 30, 2014
Revenues	'
Revenues	'
	7. Revenues
	Niska Partners’ fee-based revenue consists of the following:
		Three Months Ended
		June 30,
		2014			2013
	Long-term contract revenue	$	40,482		$	20,596
	Short-term contract revenue	2,272			10,875
	Total	$	42,754		$	31,471
	Long-term contract revenue for the three months ended June 30, 2014 included a one-time contract termination payment of $26.0 million as a result of the termination by TransCanada Gas Storage Partnership (“TransCanada”), the Company’s largest volumetric customer, of its previous storage service agreement.
	Optimization, net consists of the following:
		Three Months Ended
		June 30,
		2014			2013
	Realized optimization revenue, net	$	13,774		$	5,600
	Unrealized risk management (losses) gains	(1,151		)	20,118
	Total	$	12,623		$	25,718

Depreciation_and_Amortization

Depreciation and Amortization	3 Months Ended
	Jun. 30, 2014
Depreciation and Amortization	'
Depreciation and Amortization	'
	8. Depreciation and Amortization
	Depreciation and amortization for the three months ended June 30, 2014 and 2013 consist of the following:
		Three Months Ended
		June 30,
		2014		2013
	Depreciation	$	35,123	$	7,811
	Amortization of intangible assets	14,808		2,483
	Accretion of asset retirement obligations	35		39
	Total	$	49,966	$	10,333
	Depreciation for the three months ended June 30, 2014 includes $27.9 million (June 30, 2013 - $ nil) related to migration of cushion gas at one of the Company’s facilities.  The Company records a provision for migration when it has been determined that cushion gas is no longer providing effective cushion support.
	Amortization of intangible assets for the three months ended June 30, 2014 includes an amortization of $11.7 million related to the termination of the prior storage service agreement with TransCanada, to reflect the timing of cash flows related to this customer relationship. Future amortization of customer relationships is expected to be $2.7 million per quarter for the remaining portion of the fiscal year.

Income_Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2014
Income Taxes	'
Income Taxes	'
	9. Income Taxes
	Income taxes included in the consolidated financial statements were as follows:
		Three Months Ended
		June 30,
		2014			2013
	Income tax benefit	$	(8,892	)	$	(300	)
	Effective income tax rate	32		%	-4		%
	Tax benefits increased by $8.6 million compared to the three months ended June 30, 2013 due to an increase in losses recognized associated with Canadian taxable entities.
	The effective tax rate for the three months ended June 30, 2014 and 2013 differs from the U.S. statutory federal rate of 35% primarily due to the recognition of losses in some entities which have a lower statutory tax rate as well as income attributable to subsidiaries exempt from U.S. Federal income taxes.

Accrued_Liabilities

Accrued Liabilities	3 Months Ended
	Jun. 30, 2014
Accrued Liabilities	'
Accrued Liabilities	'
	10. Accrued Liabilities
	Niska Partners’ accrued liabilities consist of the following:
		June 30,		March 31,
		2014		2014
	Accrued gas purchases	$	80,846	$	75,454
	Accrued interest	11,852		2,037
	Employee-related accruals	6,830		22,315
	Other accrued liabilities	8,413		11,312
		$	107,941	$	111,118

Changes_in_NonCash_Working_Cap

Changes in Non-Cash Working Capital	3 Months Ended
	Jun. 30, 2014
Changes in Non-Cash Working Capital	'
Changes in Non-Cash Working Capital	'
	11. Changes in Non-Cash Working Capital
	Changes in non-cash working capital for the three months ended June 30, 2014 and 2013 consist of the following:
		Three Months Ended
		June 30,
		2014			2013
	Margin deposits	$	(40,915	)	$	11,551
	Trade receivables	3,702			960
	Accrued receivables	116,120			77,427
	Natural gas inventory	(179,651		)	(45,693		)
	Prepaid expenses and other current assets	(1,420		)	1,538
	Other assets	—			(63		)
	Trade payables	(593		)	336
	Accrued liabilities	(3,350		)	32,428
	Deferred revenue	5,589			6,261
	Other long-term liabilities	(654		)	(79		)
	Total	$	(101,172	)	$	84,666

Supplemental_Cash_Flow_Disclos

Supplemental Cash Flow Disclosures	3 Months Ended
	Jun. 30, 2014
Supplemental Cash Flow Disclosures	'
Supplemental Cash Flow Disclosures	'
	12. Supplemental Cash Flow Disclosures
		Three Months Ended
		June 30,
		2014			2013
	Interest paid	$	1,585		$	948
	Taxes recovered	$	(16	)	$	—
	Non-cash (decrease) increase in working capital related to property, plant and equipment	$	(292	)	$	130
	Non-cash earnings distribution and reinvestment	$	6,385		$	—

Segment_Disclosures

Segment Disclosures	3 Months Ended
	Jun. 30, 2014
Segment Disclosures	'
Segment Disclosures	'
	13. Segment Disclosures
	The Company’s process for the identification of reportable segments involves examining the nature of services offered, the types of customer contracts entered into and the nature of the economic and regulatory environment.
	Niska Partners operates along functional lines in its commercial, engineering, and operations teams for operations in Alberta, Northern California and the U.S. Mid-continent.  All functional lines and facilities offer the same services: fee-based revenue and optimization. The Company has a small retail marketing business which is an extension of the Company’s proprietary optimization activities. Proprietary optimization activities occur when the Company purchases, stores and sells natural gas for its own account in order to utilize or optimize storage capacity that is not contracted or available to third-party customers. All services are delivered using reservoir storage.  The Company measures profitability consistently along all functional lines based on revenues and earnings before interest, taxes, depreciation and amortization, and unrealized risk management gains and losses.  The Company has aggregated its operating segments into one reportable segment as at June 30, 2014 and March 31, 2014 and for each of the three months ended June 30, 2014 and 2013.
	Information pertaining to the Company’s short-term and long-term contract services and net optimization revenues is presented in the consolidated statements of earnings and comprehensive income.  All facilities have the same types of customers: major companies in the energy industry, industrial, commercial, local distribution companies and municipal energy consumers.
	The following tables summarize the net revenues and long-lived assets by geographic area:
		Three Months Ended
		June 30,
		2014			2013
	Net realized revenues
	U.S.	$	4,044		$	8,494
	Canada	52,484			28,577
	Net unrealized revenues
	U.S.	2,359			12,454
	Canada	(3,510		)	7,664
	Inter-entity
	U.S.	—			—
	Canada	—			—
		$	55,377		$	57,189
		June 30,			March 31,
		2014			2014
	Long-lived assets (at period end)
	U.S.	$	394,244		$	397,331
	Canada	793,266			839,917
		$	1,187,510		$	1,237,248

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncement	3 Months Ended
	Jun. 30, 2014
Recent Accounting Pronouncements	'
Recent Accounting Pronouncements	'
	14. Recent Accounting Pronouncement
	In May 2014, the Financial Accounting Standards Board issued rules relating to revenue recognition. Under the new rules, an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects what it expects to receive in exchange for the goods or services. The rules also require more detailed disclosures related to the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. These rules are effective for interim and annual periods beginning after December 15, 2016. Management is currently evaluating the impact of the pending adoption of ASU 2014-09 on the Company’s consolidated financial statements and has not yet determined the method by which it will adopt the standard in 2017.

Subsequent_Events

Subsequent Events	3 Months Ended
	Jun. 30, 2014
Subsequent Events	'
Subsequent Events	'
	15. Subsequent Events
	Sundance Project
	On July 15, 2014, Niska Partners entered into an agreement with Talisman Energy Canada whereby, for an immaterial consideration, the Company acquired the necessary reservoir, storage and land interests to develop a natural gas storage facility in northwestern Alberta, Canada. If developed, the project will have a working gas storage capacity of approximately 55 Bcf, expandable up to 70 Bcf (the “Sundance Project”). The requisite underlying regulatory approvals have been obtained from the Alberta Energy Regulator and the Sundance Project has significant access to pipeline infrastructure and the associated western Canadian markets.
	Distributions
	On July 30, 2014, the Board of Directors of Niska Partners approved a distribution of $0.35 per common unit, payable on August 19, 2014 to unitholders of record as of August 11, 2014. The total distribution is expected to be approximately $12.9 million.

Debt_Tables

Debt (Tables)	3 Months Ended
	Jun. 30, 2014
Debt	'
Schedule of debt obligations	'
		June 30,			March 31,
		2014			2014
	Senior Notes due 2019	$	575,000		$	575,000
	Revolving credit facilities	204,500			119,500
	Total	779,500			694,500
	Less portion classified as current	(204,500		)	(119,500		)
		$	575,000		$	575,000

Risk_Management_Activities_and1

Risk Management Activities and Financial Instruments (Tables)	3 Months Ended
	Jun. 30, 2014
Risk Management Activities and Financial Instruments	'
Schedule of volumes of inventories which were economically hedged using each type of contract	'
		June 30,		March 31,
		2014		2014
	Forwards	0.3 Bcf		(1.4 Bcf)
	Futures	57.9 Bcf		20.1 Bcf
	Swaps	(0.3 Bcf)		(0.3 Bcf)
	Options	—		—
		57.9 Bcf		18.4 Bcf
Schedule of fair values of risk management assets and liabilities	'
		Energy			Currency
	June 30, 2014	Contracts			Contracts			Total
	Short-term risk management assets	$	11,340		$	1,369		$	12,709
	Long-term risk management assets	6,056			98			6,154
	Short-term risk management liabilities	(14,210		)	—			(14,210		)
	Long-term risk management liabilities	(11,363		)	—			(11,363		)
		$	(8,177	)	$	1,467		$	(6,710	)
		Energy			Currency
	March 31, 2014	Contracts			Contracts			Total
	Short-term risk management assets	$	18,939		$	2,010		$	20,949
	Long-term risk management assets	4,260			546			4,806
	Short-term risk management liabilities	(18,945		)	(160		)	(19,105		)
	Long-term risk management liabilities	(12,209		)	—			(12,209		)
		$	(7,955	)	$	2,396		$	(5,559	)
Schedule of risk management assets and liabilities that had netting or rights of offset arrangements	'
	June 30, 2014	Gross Amounts			Gross Amounts			Net Amounts			Margin			Net Amounts
		Recognized			Offset in the			Presented in			Deposits not
					Balance Sheet			the Balance			Offset in the
								Sheet			Balance Sheet
	Assets
	Commodity derivatives	$	81,910		$	(64,514	)	$	17,396		$	(9,912	)	$	7,484
	Currency derivatives	1,645			(178		)	1,467			(940		)	527
	Total assets	83,555			(64,692		)	18,863			(10,852		)	8,011
	Liabilities
	Commodity derivatives	90,087			(64,514		)	25,573			(17,610		)	7,963
	Currency derivatives	178			(178		)	—			—			—
	Total liabilities	90,265			(64,692		)	25,573			(17,610		)	7,963
	Net	$	(6,710	)	—			$	(6,710	)	$	6,758		$	48
	March 31, 2014	Gross Amounts			Gross Amounts			Net Amounts			Margin			Net Amounts
		Recognized			Offset in the			Presented in			Deposits not
					Balance Sheet			the Balance			Offset in the
								Sheet			Balance Sheet
	Assets
	Commodity derivatives	$	113,175		$	(89,976	)	$	23,199		$	(15,101	)	$	8,098
	Currency derivatives	2,851			(295		)	2,556			(2,556		)	—
	Total assets	116,026			(90,271		)	25,755			(17,657		)	8,098
	Liabilities
	Commodity derivatives	121,130			(89,976		)	31,154			(21,705		)	9,449
	Currency derivatives	455			(295		)	160			(160		)	—
	Total liabilities	121,585			(90,271		)	31,314			(21,865		)	9,449
	Net	$	(5,559	)	$	—		$	(5,559	)	$	4,208		$	(1,351	)
Schedule of risk management assets and liabilities outstanding expected to be recognized into net earnings and comprehensive income in the fiscal periods	'
		Energy			Currency
		Contracts			Contracts			Total
	Fiscal year ending March 31, 2015	$	(3,176	)	$	919		$	(2,257	)
	Fiscal year ending March 31, 2016	(469		)	548			79
	Fiscal year ending March 31, 2017	709			—			709
	Thereafter	(5,241		)	—			(5,241		)
		$	(8,177	)	$	1,467		$	(6,710	)
Summary of net realized and unrealized optimization gains and losses from the settlement of risk management contracts	'
		Three Months Ended
		June 30,
		2014			2013			Classification
	Energy contracts
	Realized	$	4,765		$	(6,342	)	Optimization, net
	Unrealized	(222		)	19,090			Optimization, net
	Currency contracts
	Realized	1,196			1,464			Optimization, net
	Unrealized	(929		)	1,028			Optimization, net
		$	4,810		$	15,240

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jun. 30, 2014
Fair Value Measurements	'
Schedule of financial assets and liabilities that were accounted for or disclosed at fair value on a recurring basis	'
	June 30, 2014	Level 1		Level 2		Level 3		Total
	Assets
	Commodity derivatives	$	—	$	17,396	$	—	$	17,396
	Currency derivatives	—		1,467		—		1,467
	Total assets	—		18,863		—		18,863
	Liabilities
	Commodity derivatives	—		25,573		—		25,573
	Currency derivatives	—		—		—		—
	Long-term debt	—		557,750		—		557,750
	Total liabilities	$	—	$	583,323	$	—	$	583,323
	March 31, 2014	Level 1		Level 2		Level 3		Total
	Assets
	Commodity derivatives	$	—	$	23,199	$	—	$	23,199
	Currency derivatives	—		2,556		—		2,556
	Total assets	—		25,755		—		25,755
	Liabilities
	Commodity derivatives	$	—	$	31,154	$	—	$	31,154
	Currency derivatives	—		160		—		160
	Long-term debt	—		570,700		—		570,700
	Total liabilities	$	—	$	602,014	$	—	$	602,014

Members_Equity_Tables

Members' Equity (Tables)	3 Months Ended
	Jun. 30, 2014
Unit-based compensation	'
Schedule of weighted average unit price at grant date and number of Phantom Units granted	'
		Three Months Ended
		June 30,
		2014			2013
	Weighted average price per unit at grant date	$	—		$	12.68
	Number of Phanton Units granted	—			270,042
Schedule of net income allocation and income per unit calculation	'
		Three Months Ended
		June 30,
		2014			2013
	Numerator:
	Net earnings (loss) attributable to Niska Partners	$	(18,972	)	$	7,967
	Less:
	Managing Member’s interest	358			(158		)
	Net earnings (loss) attributable to common unitholders	$	(18,614	)	$	7,809
	Denominator:
	Basic:
	Weighted average units outstanding	35,911,392			34,492,245
	Diluted:
	Weighted average units outstanding	35,911,392			34,492,245
	Earnings (loss) per unit:
	Basic	$	(0.52	)	$	0.23
	Diluted	$	(0.52	)	$	0.23
Phantom Units Outstanding	'
Unit-based compensation	'
Schedule of reconciliation of phantom units outstanding and nonvested phantom units	'
		Number of Time-		Number of		Total Units
		Based Units		Performance-Based
				Units
	Phantom Units outstanding - March 31, 2014	835,360		487,200		1,322,560
	Exercised	(501,101	)	(237,422	)	(738,523	)
	Forfeited	(88,736	)	(55,619	)	(144,355	)
	Distribution equivalent rights	6,361		5,051		11,412
	Phantom Units outstanding - June 30, 2014	251,884		199,210		451,094
Nonvested Phantom Units	'
Unit-based compensation	'
Schedule of reconciliation of phantom units outstanding and nonvested phantom units	'
		Number of Time-		Number of		Total Units
		Based Units		Performance-Based
				Units
	Nonvested Phantom Units - March 31, 2014	466,858		312,764		779,622
	Vested	(132,599	)	(62,986	)	(195,585	)
	Forfeited	(88,736	)	(55,619	)	(144,355	)
	Distribution equivalent rights	6,361		5,051		11,412
	Nonvested Phantom Units - June 30, 2014	251,884		199,210		451,094

Revenues_Tables

Revenues (Tables)	3 Months Ended
	Jun. 30, 2014
Revenues	'
Schedule of components of fee-based revenue	'
		Three Months Ended
		June 30,
		2014			2013
	Long-term contract revenue	$	40,482		$	20,596
	Short-term contract revenue	2,272			10,875
	Total	$	42,754		$	31,471
Schedule of components of optimization, net	'
		Three Months Ended
		June 30,
		2014			2013
	Realized optimization revenue, net	$	13,774		$	5,600
	Unrealized risk management (losses) gains	(1,151		)	20,118
	Total	$	12,623		$	25,718

Depreciation_and_Amortization_

Depreciation and Amortization (Tables)	3 Months Ended
	Jun. 30, 2014
Depreciation and Amortization	'
Schedule of depreciation and amortization	'
		Three Months Ended
		June 30,
		2014		2013
	Depreciation	$	35,123	$	7,811
	Amortization of intangible assets	14,808		2,483
	Accretion of asset retirement obligations	35		39
	Total	$	49,966	$	10,333

Income_Taxes_Tables

Income Taxes (Tables)	3 Months Ended
	Jun. 30, 2014
Income Taxes	'
Schedule of income taxes	'
		Three Months Ended
		June 30,
		2014			2013
	Income tax benefit	$	(8,892	)	$	(300	)
	Effective income tax rate	32		%	-4		%

Accrued_Liabilities_Tables

Accrued Liabilities (Tables)	3 Months Ended
	Jun. 30, 2014
Accrued Liabilities	'
Schedule of accrued liabilities	'
		June 30,		March 31,
		2014		2014
	Accrued gas purchases	$	80,846	$	75,454
	Accrued interest	11,852		2,037
	Employee-related accruals	6,830		22,315
	Other accrued liabilities	8,413		11,312
		$	107,941	$	111,118

Changes_in_NonCash_Working_Cap1

Changes in Non-Cash Working Capital (Tables)	3 Months Ended
	Jun. 30, 2014
Changes in Non-Cash Working Capital	'
Schedule of changes in non-cash working capital	'
		Three Months Ended
		June 30,
		2014			2013
	Margin deposits	$	(40,915	)	$	11,551
	Trade receivables	3,702			960
	Accrued receivables	116,120			77,427
	Natural gas inventory	(179,651		)	(45,693		)
	Prepaid expenses and other current assets	(1,420		)	1,538
	Other assets	—			(63		)
	Trade payables	(593		)	336
	Accrued liabilities	(3,350		)	32,428
	Deferred revenue	5,589			6,261
	Other long-term liabilities	(654		)	(79		)
	Total	$	(101,172	)	$	84,666

Supplemental_Cash_Flow_Disclos1

Supplemental Cash Flow Disclosures (Tables)	3 Months Ended
	Jun. 30, 2014
Supplemental Cash Flow Disclosures	'
Schedule of supplemental cash flow disclosures	'
		Three Months Ended
		June 30,
		2014			2013
	Interest paid	$	1,585		$	948
	Taxes recovered	$	(16	)	$	—
	Non-cash (decrease) increase in working capital related to property, plant and equipment	$	(292	)	$	130
	Non-cash earnings distribution and reinvestment	$	6,385		$	—

Segment_Disclosures_Tables

Segment Disclosures (Tables)	3 Months Ended
	Jun. 30, 2014
Segment Disclosures	'
Summary of net revenues and long-lived assets by geographic area	'
		Three Months Ended
		June 30,
		2014			2013
	Net realized revenues
	U.S.	$	4,044		$	8,494
	Canada	52,484			28,577
	Net unrealized revenues
	U.S.	2,359			12,454
	Canada	(3,510		)	7,664
	Inter-entity
	U.S.	—			—
	Canada	—			—
		$	55,377		$	57,189
		June 30,			March 31,
		2014			2014
	Long-lived assets (at period end)
	U.S.	$	394,244		$	397,331
	Canada	793,266			839,917
		$	1,187,510		$	1,237,248

Organization_and_Basis_of_Pres1

Organization and Basis of Presentation (Details)	3 Months Ended
	Jun. 30, 2014
Members' equity	'
Common units outstanding	36,190,243
Managing member's interest (as a percent)	1.89%
Carlyle/Riverstone Funds	'
Members' equity	'
Common units outstanding	18,690,199
Managing member's interest (as a percent)	1.89%
Ownership interest (as a percent)	52.56%
Public owners	'
Members' equity	'
Common units outstanding	17,500,044
Ownership interest (as a percent)	47.44%

Debt_Details

Debt (Details) (USD $)	3 Months Ended
	Jun. 30, 2014	Mar. 31, 2014
	item
Debt	'	'
Long-term debt	$779,500,000	$694,500,000
Less portion classified as current	-204,500,000	-119,500,000
Long-term debt, less current portion	575,000,000	575,000,000
Borrowings outstanding	204,500,000	119,500,000
Number of independent assets or operations other than investments in subsidiaries	0	'
Restricted assets	0	'
6.50% Senior Notes due 2019	'	'
Debt	'	'
Long-term debt	575,000,000	575,000,000
Interest rate (as a percent)	6.50%	6.50%
Estimated fair market value of debt	557,800,000	'
Redemption price as a percentage of principal amount upon occurrence of change of control	101.00%	'
Number of preceding quarters for which fixed charge coverage ratio is measured	4	'
Minimum fixed charge coverage ratio required to make restricted payments	1.75	'
Amount included in the general basket of restricted payments	75,000,000	'
Actual fixed charge coverage ratio	3.2	'
Amount of distribution permitted on achievement of condition related to fixed charge coverage ratio	372,400,000	'
Percentage of aggregate principal amount of notes that holders can request for accelerated payment in case of an event of default	25.00%	'
Period upon occurrence of change of control used to determine redemption of debt	'90 days	'
6.50% Senior Notes due 2019 | Prior to October 1, 2016	'	'
Debt	'	'
Redemption price as a percentage of principal amount	106.50%	'
6.50% Senior Notes due 2019 | Twelve-month period beginning on October 1, 2016	'	'
Debt	'	'
Redemption price as a percentage of principal amount	103.25%	'
6.50% Senior Notes due 2019 | Twelve-month period beginning on October 1, 2018 and at any time thereafter	'	'
Debt	'	'
Redemption price as a percentage of principal amount	101.63%	'
6.50% Senior Notes due 2019 | Maximum | Prior to October 1, 2016	'	'
Debt	'	'
Percentage of aggregate principal amount that may be redeemed	35.00%	'
Revolving credit facilities	'	'
Debt	'	'
Long-term debt	204,500,000	119,500,000
Maximum borrowing capacity	400,000,000	'
Borrowing base collateral	408,300,000	'
Borrowings outstanding	204,500,000	119,500,000
Weighted average interest rate (as a percent)	3.46%	3.56%
Letters of credit issued	$5,400,000	$4,800,000
Senior Notes due 2018	'	'
Debt	'	'
Interest rate (as a percent)	8.88%	'

Risk_Management_Activities_and2

Risk Management Activities and Financial Instruments (Details) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2014
	item
Risk management activities and financial instruments	'	'	'
Doubtful account expense recognized on trade receivable deemed to be uncollectible	$0	$0	'
Allowance for doubtful accounts required on accrued and trade accounts receivable	'	'	400,000
Number of significant counterparties	1	'	'
Percentage of total revenue from one counterparty	64.00%	42.60%	'
Required margin deposits as percentage of net position to reduce risk of default	125.00%	'	'
Borrowings outstanding	204,500,000	'	119,500,000
Revolving credit facility	'	'	'
Risk management activities and financial instruments	'	'	'
Maximum borrowing capacity	400,000,000	'	'
Borrowings outstanding	204,500,000	'	119,500,000
Exchange traded futures and options	'	'	'
Risk management activities and financial instruments	'	'	'
Exchange-traded derivative instruments as percentage of commodity risk management assets	57.50%	'	'
Commodity derivatives	'	'	'
Risk management activities and financial instruments	'	'	'
Aggregate overall exposure limit of unmatched volumes of proprietary current natural gas inventory (in million cubic feet)	8,000	'	'
Volume of current natural gas inventory offset with derivative contracts (in million cubic feet)	57,900	'	18,400
Percentage of the total inventory of natural gas offset with derivative contracts	98.90%	'	'
Commodity derivatives | Forward contracts	'	'	'
Risk management activities and financial instruments	'	'	'
Volume of current natural gas inventory offset with derivative contracts (in million cubic feet)	300	'	-1,400
Commodity derivatives | Futures	'	'	'
Risk management activities and financial instruments	'	'	'
Volume of current natural gas inventory offset with derivative contracts (in million cubic feet)	57,900	'	20,100
Commodity derivatives | Swaps	'	'	'
Risk management activities and financial instruments	'	'	'
Volume of current natural gas inventory offset with derivative contracts (in million cubic feet)	-300	'	-300
Currency contracts | Currency swap	'	'	'
Risk management activities and financial instruments	'	'	'
Notional value of currency swaps	$32,500,000	'	$13,000,000

Risk_Management_Activities_and3

Risk Management Activities and Financial Instruments (Details 2) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Fair value of risk management assets and liabilities	'	'
Short-term risk management assets	$12,709	$20,949
Long-term risk management assets	6,154	4,806
Short-term risk management liabilities	-14,210	-19,105
Long-term risk management liabilities	-11,363	-12,209
Total	-6,710	-5,559
Not designated as hedge	'	'
Fair value of risk management assets and liabilities	'	'
Short-term risk management assets	12,709	20,949
Long-term risk management assets	6,154	4,806
Short-term risk management liabilities	-14,210	-19,105
Long-term risk management liabilities	-11,363	-12,209
Total	-6,710	-5,559
Energy Contracts	'	'
Fair value of risk management assets and liabilities	'	'
Total	-8,177	'
Energy Contracts | Not designated as hedge	'	'
Fair value of risk management assets and liabilities	'	'
Short-term risk management assets	11,340	18,939
Long-term risk management assets	6,056	4,260
Short-term risk management liabilities	-14,210	-18,945
Long-term risk management liabilities	-11,363	-12,209
Total	-8,177	-7,955
Currency contracts	'	'
Fair value of risk management assets and liabilities	'	'
Total	1,467	'
Currency contracts | Not designated as hedge	'	'
Fair value of risk management assets and liabilities	'	'
Short-term risk management assets	1,369	2,010
Long-term risk management assets	98	546
Short-term risk management liabilities	'	-160
Total	$1,467	$2,396

Risk_Management_Activities_and4

Risk Management Activities and Financial Instruments (Details 3) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Assets	'	'
Gross Amounts Recognized	$83,555	$116,026
Gross Amounts Offset in the Balance Sheet	-64,692	-90,271
Net Amounts Presented in the Balance Sheet	18,863	25,755
Margin Deposits not Offset in the Balance Sheet	-10,852	-17,657
Net Amounts	8,011	8,098
Liabilities	'	'
Gross Amounts Recognized	90,265	121,585
Gross Amounts Offset in the Balance Sheets	-64,692	-90,271
Net Amounts Presented in the Balance Sheets	25,573	31,314
Margin Deposits not Offset in the Balance Sheets	-17,610	-21,865
Net Amounts	7,963	9,449
Net - Amounts Presented in the Balance Sheets	-6,710	-5,559
Net - Margin Deposits not Offset in the Balance Sheets	6,758	4,208
Net	48	-1,351
Commodity derivatives	'	'
Assets	'	'
Gross Amounts Recognized	81,910	113,175
Gross Amounts Offset in the Balance Sheet	-64,514	-89,976
Net Amounts Presented in the Balance Sheet	17,396	23,199
Margin Deposits not Offset in the Balance Sheet	-9,912	-15,101
Net Amounts	7,484	8,098
Liabilities	'	'
Gross Amounts Recognized	90,087	121,130
Gross Amounts Offset in the Balance Sheets	-64,514	-89,976
Net Amounts Presented in the Balance Sheets	25,573	31,154
Margin Deposits not Offset in the Balance Sheets	-17,610	-21,705
Net Amounts	7,963	9,449
Net - Amounts Presented in the Balance Sheets	-8,177	'
Currency derivatives	'	'
Assets	'	'
Gross Amounts Recognized	1,645	2,851
Gross Amounts Offset in the Balance Sheet	-178	-295
Net Amounts Presented in the Balance Sheet	1,467	2,556
Margin Deposits not Offset in the Balance Sheet	-940	-2,556
Net Amounts	527	'
Liabilities	'	'
Gross Amounts Recognized	178	455
Gross Amounts Offset in the Balance Sheets	-178	-295
Net Amounts Presented in the Balance Sheets	'	160
Margin Deposits not Offset in the Balance Sheets	'	-160
Net - Amounts Presented in the Balance Sheets	$1,467	'

Risk_Management_Activities_and5

Risk Management Activities and Financial Instruments (Details 4) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Risk management activities and financial instruments	'	'
Fiscal year ending March 31, 2015	($2,257)	'
Fiscal year ending March 31, 2016	79	'
Fiscal year ending March 31, 2017	709	'
Thereafter	-5,241	'
Total	-6,710	-5,559
Energy Contracts	'	'
Risk management activities and financial instruments	'	'
Fiscal year ending March 31, 2015	-3,176	'
Fiscal year ending March 31, 2016	-469	'
Fiscal year ending March 31, 2017	709	'
Thereafter	-5,241	'
Total	-8,177	'
Currency contracts	'	'
Risk management activities and financial instruments	'	'
Fiscal year ending March 31, 2015	919	'
Fiscal year ending March 31, 2016	548	'
Total	$1,467	'

Risk_Management_Activities_and6

Risk Management Activities and Financial Instruments (Details 5) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Net realized and unrealized optimization gains and losses from the settlement of risk management contracts	'	'
Unrealized	($1,151)	$20,118
Not designated as hedge	'	'
Net realized and unrealized optimization gains and losses from the settlement of risk management contracts	'	'
Total	4,810	15,240
Energy Contracts | Not designated as hedge	'	'
Net realized and unrealized optimization gains and losses from the settlement of risk management contracts	'	'
Realized	4,765	-6,342
Unrealized	-222	19,090
Currency contracts | Not designated as hedge	'	'
Net realized and unrealized optimization gains and losses from the settlement of risk management contracts	'	'
Realized	1,196	1,464
Unrealized	($929)	$1,028

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Assets	'	'
Total assets	$18,863	$25,755
Liabilities	'	'
Transfer out of Level 2	0	0
Transfer out of Level 2	0	0
Non-financial assets	0	0
Non-financial liabilities	0	0
Commodity derivatives	'	'
Assets	'	'
Total assets	17,396	23,199
Currency derivatives	'	'
Assets	'	'
Total assets	1,467	2,556
Recurring | Level 2	'	'
Assets	'	'
Total assets	18,863	25,755
Liabilities	'	'
Long-term debt	557,750	570,700
Total liabilities	583,323	602,014
Recurring | Level 2 | Commodity derivatives	'	'
Assets	'	'
Total assets	17,396	23,199
Liabilities	'	'
Total liabilities	25,573	31,154
Recurring | Level 2 | Currency derivatives	'	'
Assets	'	'
Total assets	1,467	2,556
Liabilities	'	'
Total liabilities	'	160
Recurring | Total	'	'
Assets	'	'
Total assets	18,863	25,755
Liabilities	'	'
Long-term debt	557,750	570,700
Total liabilities	583,323	602,014
Recurring | Total | Commodity derivatives	'	'
Assets	'	'
Total assets	17,396	23,199
Liabilities	'	'
Total liabilities	25,573	31,154
Recurring | Total | Currency derivatives	'	'
Assets	'	'
Total assets	1,467	2,556
Liabilities	'	'
Total liabilities	'	$160

Members_Equity_Details

Members' Equity (Details) (USD $)

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

3 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Apr. 02, 2013

Apr. 02, 2013

Apr. 02, 2013

Jun. 30, 2014

Apr. 02, 2013

Apr. 02, 2013

Apr. 02, 2013

Apr. 02, 2013

Apr. 02, 2013

Apr. 02, 2013

Apr. 02, 2013

Apr. 02, 2013

Jun. 30, 2014

Jun. 30, 2013

Mar. 31, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Previous structure

Previous structure

New structure

Carlyle/Riverstone Funds

Carlyle/Riverstone Funds

Carlyle/Riverstone Funds

Carlyle/Riverstone Funds

Carlyle/Riverstone Funds

Maximum

Maximum

Minimum

Minimum

Phantom Units

Phantom Units

Phantom Units

Phantom Units

Phantom Units

Time-based phantom units

Time-based phantom units

Performance-Based phantom units

Performance-Based phantom units

Class D Units

Class D Units

Class D Units

Subordinated Units

Subordinated Units

Minimum Quarterly Distribution

Previous structure

New structure

New structure

New structure

Previous structure

Carlyle/Riverstone Funds

Previous structure

Carlyle/Riverstone Funds

Phantom Units Outstanding

Nonvested Phantom Units

Phantom Units Outstanding

Nonvested Phantom Units

Phantom Units Outstanding

Nonvested Phantom Units

Award vesting on May 6, 2015

Award vesting on last day of each fiscal quarter during the period commencing on April 1, 2015 and through March 31, 2019

Minimum Quarterly Distribution

Common Units

Subordinated Units

IDR Holder

Notional Subordinated Units

Unitholders

Previous structure

Unitholders

Previous structure

IDR Holder

IDR Holder

Members Equity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Subordinated units outstanding

'

'

'

'

'

'

33,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total Quarterly Distribution per Unit Target Amount (in dollars per unit)

'

'

'

$0.35

$0.35

'

'

'

'

'

$0.53

'

$0.40

'

'

'

'

'

'

'

'

'

'

'

'

'

Additional distributions per quarter prior to increasing the quarterly distribution on Niska Partners' common units

'

'

$12,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Marginal Percentage Interest in Cash Distributions

'

'

'

'

'

'

'

'

48.00%

'

'

48.00%

'

13.00%

'

'

'

'

'

'

'

'

'

'

'

'

Distribution in arrears from prior quarters (in dollars per unit)

'

'

'

'

$0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Period for which Carlyle Riverstone Funds will be deemed to own Notional Subordinated Units

'

'

'

'

'

'

'

'5 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Notional Subordinated Units (in shares)

'

'

'

'

'

'

'

'

'

33,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Distribution as a percentage in excess of the Partnership's Class A unitholder's capital contributions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15.00%

'

'

Minimum required distribution to Class A unitholders before the Class D Units are entitled to distributions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

331,000,000

'

'

Common units issued under distribution reinvestment plan

'

'

'

'

'

445,183

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Non cash earnings distribution and reinvestments

6,385,000

'

'

'

'

6,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cumulative annual distribution (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8.00%

'

'

Vesting Percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

20.00%

5.00%

Number of units authorized under the PUPP (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,380,474

'

'

'

'

'

'

'

'

'

'

'

Weighted average price of granted units (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$12.68

'

'

'

'

'

'

'

'

'

'

Number of units available for grant (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,472,296

'

1,483,708

'

'

'

'

'

'

'

'

'

Reconciliation of Phantom Units Outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance at the beginning of the period (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,322,560

779,622

835,360

466,858

487,200

312,764

'

'

'

Granted (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

270,042

'

'

'

'

'

'

'

'

'

'

Vested (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-195,585

'

-132,599

'

-62,986

'

'

'

Exercised (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-738,523

'

-501,101

'

-237,422

'

'

'

'

Forfeited (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-144,355

-144,355

-88,736

-88,736

-55,619

-55,619

'

'

'

Distribution equivalent rights (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

11,412

11,412

6,361

6,361

5,051

5,051

'

'

'

Balance at the end of the period (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

451,094

451,094

251,884

251,884

199,210

199,210

'

'

'

Additional disclosures

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total unrecognized non-cash compensation cost

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,000,000

'

'

'

'

'

'

'

Expected period for unrecognized compensation cost to be recognized

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'2 years

'

'

'

'

'

'

'

Unit-based compensation costs

1,200,000

3,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

300,000

'

'

Cash paid to employees who exercised Phantom Units

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$10,600,000

$2,300,000

'

'

'

'

'

'

'

'

'

'

Members_Equity_Details_2

Members' Equity (Details 2) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Numerator:	'	'
Net earnings (loss) attributable to Niska Partners	($18,972)	$7,967
Less: Managing Member's interest	358	-158
Net earnings (loss) attributable to common unitholders	($18,614)	$7,809
Basic:	'	'
Weighted average units outstanding (in shares)	35,911,392	34,492,245
Diluted:	'	'
Weighted average units outstanding (in shares)	35,911,392	34,492,245
Earnings (loss) per unit allocated to common unitholders	'	'
basic (in dollars per unit)	($0.52)	$0.23
diluted (in dollars per unit)	($0.52)	$0.23

Revenues_Details

Revenues (Details) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Fee-based Revenue	'	'
Long-term contract revenue	$40,482,000	$20,596,000
Short-term contract revenue	2,272,000	10,875,000
Total	42,754,000	31,471,000
One-time contract termination payment	26,000,000	'
Optimization Revenue	'	'
Realized optimization revenue, net	13,774,000	5,600,000
Unrealized risk management (losses) gains	-1,151,000	20,118,000
Total	$12,623,000	$25,718,000

Depreciation_and_Amortization_1

Depreciation and Amortization (Details) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Depreciation and Amortization	'	'
Depreciation	$35,123,000	$7,811,000
Amortization of intangible assets	14,808,000	2,483,000
Accretion of asset retirement obligations	35,000	39,000
Total	49,966,000	10,333,000
Depreciation related to migration of cushion gas at one of the Company's facilities	$27,900,000	'

Depreciation_and_Amortization_2

Depreciation and Amortization (Details 2) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Finite-Lived Intangible Assets [Line Items]	'	'
Amortization of intangible assets	$14,808,000	$2,483,000
Prior storage service agreement	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Amortization of intangible assets	11,700,000	'
Customer relationships	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Expected future amortization per quarter for the remaining portion of the fiscal year	$2,700,000	'

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Income Taxes	'	'
Income tax benefit	($8,892,000)	($300,000)
Effective income tax rate (as a percent)	32.00%	-4.00%
U.S. statutory federal rate (as a percent)	35.00%	35.00%
Increase in income tax benefits	$8,600,000	'

Accrued_Liabilities_Details

Accrued Liabilities (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Accrued Liabilities	'	'
Accrued gas purchases	$80,846	$75,454
Accrued interest	11,852	2,037
Employee-related accruals	6,830	22,315
Other accrued liabilities	8,413	11,312
Total	$107,941	$111,118

Changes_in_NonCash_Working_Cap2

Changes in Non-Cash Working Capital (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Changes in Non-Cash Working Capital	'	'
Margin deposits	($40,915)	$11,551
Trade receivables	3,702	960
Accrued receivables	116,120	77,427
Natural gas inventory	-179,651	-45,693
Prepaid expenses and other current assets	-1,420	1,538
Other assets	'	-63
Trade payables	-593	336
Accrued liabilities	-3,350	32,428
Deferred revenue	5,589	6,261
Other long-term liabilities	-654	-79
Total	($101,172)	$84,666

Supplemental_Cash_Flow_Disclos2

Supplemental Cash Flow Disclosures (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Supplemental Cash Flow Disclosures	'	'
Interest paid	$1,585	$948
Taxes recovered	-16	'
Non-cash (decrease) increase in working capital related to property, plant and equipment	-292	130
Non-cash earnings distribution and reinvestment	$6,385	'

Segment_Disclosures_Details

Segment Disclosures (Details) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2014
	item	item	item
Segment Disclosures	'	'	'
Number of reportable segment	1	1	1
Segment disclosures	'	'	'
Total revenues	$55,377	$57,189	'
Long-lived assets	1,187,510	'	1,237,248
U.S.	'	'	'
Segment disclosures	'	'	'
Net realized revenues	4,044	8,494	'
Net unrealized revenues	2,359	12,454	'
Long-lived assets	394,244	'	397,331
Canada	'	'	'
Segment disclosures	'	'	'
Net realized revenues	52,484	28,577	'
Net unrealized revenues	-3,510	7,664	'
Long-lived assets	$793,266	'	$839,917

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	3 Months Ended		0 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jul. 30, 2014	Jul. 15, 2014	Jul. 15, 2014
			Subsequent events	Subsequent events	Subsequent events
				Sundance Project [Member]	Sundance Project [Member]
				MMcf	Maximum
					MMcf
Subsequent events	'	'	'	'	'
Volume of storage capacity (in million cubic feet)	'	'	'	55,000	'
Expandable volume of storage capacity (in million cubic feet)	'	'	'	'	70,000
Distribution to common unitholders (in dollars per unit)	'	'	$0.35	'	'
Distributions to unitholders	($13,756)	($14,945)	$12,900	'	'