Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 |
Summary of Significant Accounting Policies [Abstract] | ' |
Revenue Recognition, Policy [Policy Text Block] | ' |
Revenue Recognition |
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QEP Midstream provides natural gas gathering and transportation services, primarily under fee-based contracts. Under these arrangements, we receive a fee or fees for one or more of the following services: firm and interruptible gathering or transmission of natural gas, crude oil, condensate, and water. The revenue we earn from these arrangements is generally directly related to the volume of natural gas, crude oil, or water that flows through the our systems and is not directly dependent on commodity prices. Revenue for these agreements is recognized at the time the service is performed. In certain of these contracts, the agreement provides for minimum annual payments or fixed demand charges which are recognized as revenue pursuant to the contract terms. In addition, under certain of these gathering agreements, we retain and sell condensate, which falls out of the natural gas stream during the gathering process. We recognize revenue from condensate sales upon transfer of title. The Partnership has deferred revenue of which a portion will be recognized as revenue pursuant to contractual terms with the remaining being recognized based on the outcome of certain litigation. Refer to Note 9 - Commitments and Contingencies. |
Investment in Unconsolidated Affiliates, Policy [Policy Text Block] | ' |
Investment in Unconsolidated Affiliates |
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QEP Midstream uses the equity method to account for investment in unconsolidated affiliates. The investment in unconsolidated affiliates on the Unaudited Consolidated Balance Sheets equals our proportionate share of equity reported by the unconsolidated affiliates. The investment is assessed for possible impairment when events indicate that the fair value of the investment may be below the carrying value. When such a condition is deemed to be other than temporary, the carrying value of the investment is written down to its fair value, and the amount of the write-down is included in the determination of net income. |
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The unconsolidated affiliate of the Partnership and the ownership percentage as of December 31, 2013, was Three Rivers Gathering (50%). The unconsolidated affiliates of the Predecessor and the ownership percentages as of August 13, 2013, and December 31, 2012, were Uintah Basin Field Services (38%) and Three Rivers Gathering (50%), both of which are engaged in the gathering, transportation and compression of natural gas. |
Noncontrolling Interests, Policy [Policy Text Block] | ' |
Noncontrolling Interests |
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QEP Midstream has a 78% interest in Rendezvous Gas Services, a joint venture with Western Gas, which owns a gas gathering system located in Wyoming. Rendezvous Gas Services is consolidated under the voting interest model and Western Gas' non-controlling interest is presented on the Consolidated Statements of Income and Consolidated Balance Sheets accordingly. |
Use of Estimates, Policy [Policy Text Block] | ' |
Use of Estimates |
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The preparation of the consolidated financial statements and notes in conformity with GAAP requires that management formulate estimates and assumptions that affect revenues, expenses, assets, liabilities and the disclosure of contingent assets and liabilities. Items subject to estimates and assumptions include the carrying amount of property, plant and equipment, valuation allowances for receivables, valuation of accrued liabilities and accrued revenue, among others. Although management believes these estimates are reasonable, actual results could differ from these estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | ' |
Cash and Cash Equivalents |
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Historically, the majority of the Predecessor’s operations were funded by QEP and managed under QEP’s centralized cash management program. Following the IPO, we maintain our own bank accounts and sources of liquidity and continue to utilize QEP's cash management expertise. Cash equivalents consist principally of repurchase agreements with maturities of three months or less. The repurchase agreements are highly liquid investments in overnight securities made through commercial-bank accounts that result in available funds the next business day. |
Accounts Receivable Trade, Policy [Policy Text Block] | ' |
Accounts Receivable Trade |
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QEP Midstream’s receivables consist of third party and QEP invoices. We routinely assess the recoverability of all material trade and other receivables to determine their collectability. The Partnership had no allowance for bad-debt expense at December 31, 2013. As of December 31, 2013, the Partnership had $8.5 million in accounts receivable related to outstanding litigation. Refer to Note 9 - Commitments and Contingencies for additional information. The Predecessor’s allowance for bad-debt expense was $0.4 million and $0.3 million at December 31, 2012 and 2011, respectively. |
Property, Plant and Equipment, Policy [Policy Text Block] | ' |
Property, Plant and Equipment |
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Property, plant and equipment primarily consists of natural gas and oil gathering pipelines, transmission pipelines and compressors and are stated at the lower of historical cost, less accumulated depreciation or fair value, if impaired. QEP Midstream capitalizes construction-related direct labor and material costs. Maintenance and repair costs are expensed as incurred, except substantial compression overhaul costs that are capitalized and depreciated. Depreciation of gathering equipment is charged to expense using the straight-line method. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' |
Impairment of Long-Lived Assets |
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QEP Midstream evaluates whether long-lived assets have been impaired and determines if the carrying amount of its assets may not be recoverable. Impairment is indicated when a triggering event occurs and/or the sum of the estimated undiscounted future net cash flows of an evaluated asset is less than the asset’s carrying value. If impairment is indicated, fair value is calculated using a discounted cash flow approach. Cash flow estimates require forecasts and assumptions for many years into the future for a variety of factors, including significant changes in market conditions resulting from events such as changes in commodity prices or the condition of an asset or a change in management’s intent to utilize the asset. There were no long-lived asset impairments recognized during 2013, 2012 or 2011. |
Asset Retirement Obligations, Policy [Policy Text Block] | ' |
Asset Retirement Obligations |
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Asset retirement obligations (ARO) associated with the retirement of tangible long-lived assets are recognized as liabilities with an increase to the carrying amounts of the related long-lived assets in the period incurred. The cost of the tangible asset, including the asset retirement costs, is depreciated over the useful life of the asset. ARO are recorded at estimated fair value, measured by reference to the expected future cash outflows required to satisfy the retirement obligations discounted at QEP Midstream's credit-adjusted, risk-free interest rate. Accretion expense is recognized over time as the discounted liabilities are accreted to their expected settlement value. If estimated future costs of ARO change, an adjustment is recorded to both the asset retirement obligation and the long-lived asset. Revisions to estimated ARO can result from changes in retirement cost estimates, revisions to estimated inflation rates and changes in the estimated timing of abandonment. |
Natural Gas Imbalances, Policy [Policy Text Block] | ' |
Natural Gas Imbalances |
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Natural gas imbalance receivables or payables result from differences in gas volumes received and gas volumes delivered to customers. Natural gas volumes owed to or by QEP Midstream that are subject to tariffs are valued at market index prices, as of the balance sheet dates, and are subject to cash settlement procedures. Other natural gas volumes owed to or by QEP Midstream are valued at our weighted average cost of natural gas as of the balance sheet dates and are settled in-kind. |
Litigation and Other Contingencies, Policy [Policy Text Block] | ' |
Litigation and Other Contingencies |
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In accordance with Accounting Standards Codification (ASC) 450, Contingencies, an accrual is recorded for a loss contingency when its occurrence is probable and damages can be reasonably estimated based on the anticipated most likely outcome or the minimum amount within a range of possible outcomes. We regularly reviews contingencies to determine the adequacy of our accruals and related disclosures. The amount of ultimate loss may differ from these estimates. Refer to Note 9 - Commitments and Contingencies. |
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We accrue losses associated with environmental obligations when such losses are probable and can be reasonably estimated. Accruals for estimated environmental losses are recognized no later than at the time the remediation feasibility study, or the evaluation of response options, is complete. These accruals are adjusted as additional information becomes available or as circumstances change. Future environmental expenditures are not discounted to their present value. Recoveries of environmental costs from other parties are recorded separately as assets at their undiscounted value when receipt of such recoveries is probable. |
Credit Risk, Policy [Policy Text Block] | ' |
Credit Risk |
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Exposure to credit risk may be affected by the concentration of customers due to changes in economic or other conditions. Customers may include individuals and commercial and industrial enterprises that may react differently to changing conditions. Management believes that its credit-review procedures, loss reserves, customer deposits and collection procedures have adequately provided for usual and customary credit-related losses. |
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The customers accounting for 10% or more of QEP Midstream's revenues for the period subsequent to the IPO on August 14, 2013 include: |
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| Period From August 14, 2013, through December 31, 2013 |
QEP (revenue from affiliate) | $ | 32.8 | |
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Questar Gas Company | 7.5 | |
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Fair Value Measurement, Policy [Policy Text Block] | ' |
Fair Value Measurements |
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QEP Midstream did not have any assets accounted for at fair value as of December 31, 2013. The Predecessor did not have any assets accounted for at fair value as of December 31, 2012 or 2011. We believe the carrying values of our current assets and liabilities approximate fair value. The carrying amount of our affiliated long-term debt approximates fair value. |
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The initial measurement of asset retirement obligations at fair value is calculated using discounted cash flow techniques and based on internal estimates of future retirement costs associated with property, plant and equipment. Significant Level 3 inputs are used in the calculation of asset retirement obligations include retirement costs and asset lives. Refer to Note 6 for a reconciliation of the Partnership’s asset retirement obligations. |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | ' |
Post-Retirement Employee Benefit Plans |
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QEP has various employee benefit plans, which include a qualified defined benefit pension plan, a nonqualified, unfunded, defined pension plan, post-retiree medical plans, and an employee investment plan. For purposes of these financial statements, QEP Midstream is considered to be participating in the employee benefit plans of QEP; however, employees who support QEP Midstream remain employees of QEP. As a participant in the benefit plans, QEP Midstream recognizes as expense the allocation from QEP, if any, which is included in the general and administrative fee for the Post-IPO Period or general and administrative fee allocation from QEP prior to the IPO. However, QEP Midstream does not recognize any employee benefit plan liabilities. |
Equity-based Compensation Policy [Policy Text Block] | ' |
Equity-Based Compensation |
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The Predecessor’s financial statements reflect various share-based compensation awards by QEP. These awards include stock options, restricted shares and performance share units. For purposes of these combined financial statements, the Predecessor recognized as expense in each period the required allocation from QEP, with the offset included in net parent equity. |
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In connection with the IPO, the Board adopted the QEP Midstream Partners, LP 2013 Long-Term Incentive Plan (the LTIP) for officers, directors and employees of the General Partner and its affiliates, and any consultants, affiliates of the General Partner or other individuals who perform services for the Partnership. The LTIP provides for the grant, at the discretion of the Board, of unit awards, restricted units, phantom units, unit options, unit appreciation rights, distribution equivalent rights, profits interest units and other equity-based awards. Refer to Note 8 for additional information on the Partnerships LTIP. |
Income Tax, Policy [Policy Text Block] | ' |
Income Taxes |
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QEP Midstream's financial statements do not include income tax allocation as the Partnership is treated as a partnership for federal and state income tax purposes, with each partner being separately taxed on its share of the taxable income. |
Recent Accounting Developments, Policy [Policy Text Block] | ' |
Recent Accounting Developments |
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In December of 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2011-11, Disclosures about Offsetting Assets and Liabilities, which enhances disclosure requirements regarding an entity's financial instruments and derivative instruments that are offset or subject to a master netting arrangement. This information about offsetting and related netting arrangements will enable users of financial statements to understand the effect of those arrangements on the entity's financial position, including the effect of rights of setoff. The amendments were required for annual reporting periods beginning after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU did not have a material effect on our disclosure requirements. |