UNITED STATES

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549



FORM 8-K

CURRENT REPORT



Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934



Date of Report – July 28, 2004
(Date of earliest event reported)



QUESTAR CORPORATION
(Exact name of registrant as specified in charter)

STATE OF UTAH                                        1-8796                                87-0407509

(State of other jurisdiction of            (Commission File No.)             (I.R.S. Employer

incorporation or organization)                                                          Identification No.)




#






P.O. Box 45433, 180 East 100 South Street, Salt Lake City, Utah 84145-0433
(Address of principal executive offices)


Registrant's telephone number, including area code (801) 324-5000


                                  Not Applicable                                  
(Former name or former address, if changed since last report)







Item 7.   Financial Statements and Exhibits.


          (c)   Exhibits.


Exhibit No.

Exhibit


         99.1

Release issued July 28, 2004, by Questar Corporation.



Item 12.   Results of Operations and Financial Condition.


          On July 28, 2004, Questar Corporation issued a press release announcing its earnings for the quarter ended June 30, 2004.  A copy of this press release is furnished as Exhibit 99.1 and is incorporated by reference.



SIGNATURE


          Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.





QUESTAR CORPORATION

   (Registrant)




July 28, 2004

/s/S.E. Parks                                 

S. E. Parks

Senior Vice President and

Chief Financial Officer


List of Exhibits:


Exhibit No.

Exhibit


        99.1

Release issued July 28, 2004 by Questar Corporation.





QUESTAR REPORTS HIGHER EARNINGS ON STRONG GAS PRODUCTION, PRICES


Natural gas and oil production up 18% in quarter, 13% year to date


SALT LAKE CITY — Questar Corp.’s (NYSE:STR) net income for the second quarter of 2004 increased to $42.6 million, or $.50 per diluted share, compared with $20.3 million, or $.24 per diluted share, in the 2003 period.


The company’s 2004 second-quarter results were driven by an 18% increase in nonregulated gas, oil and natural-gas-liquids production, a 14% rise in realized natural gas prices, and an 18% increase in nonregulated gas-gathering volumes.


“Both our Rockies and Midcontinent E&P businesses are generating strong growth with the drill bit,” said Keith O. Rattie, Questar chairman, president and CEO. “We’re on track to grow nonregulated production 10% again this year – in fact, first-half production of 50.6 billion cubic feet equivalent (bcfe) was 13% higher than a year ago. We doubled Pinedale production – despite winter-drilling restrictions – and Midcontinent production jumped 16%.


“As a result, we now expect 2004 earnings to range from $2.45 to $2.60 per diluted share, compared to our previous guidance of $2.40 to $2.55 per diluted share,” Rattie said. He reminded investors that the company’s guidance assumes natural gas prices remain at or near levels in the current forward-price curve and excludes one-time items. Because the company has hedged roughly 75% of its forecasted second-half 2004 nonregulated production, a $.10 change in natural gas-sales prices in the second half will result in only about a $600,000 change in net income. Current gas- and oil-price hedge information is listed at the end of the release.


Questar’s second-quarter 2004 results were reduced by an after-tax charge of $900,000, or $.01 per diluted share, for a potential refund liability in a five-year-old gas-processing dispute in the company’s retail gas-distribution business, Questar Gas. The year-ago period included an after-tax charge of $13.6 million, or $.16 per diluted share, pending resolution of the dispute. Excluding these charges, Questar earned $43.5 million in the second quarter, or $.51 per diluted share, compared with $33.9 million, or $.40 per diluted share, a year ago. The Public Service Commission of Utah said it intends to issue an order in August on past gas-processing charges.


For the first half of 2004, Questar Corp.’s net income was $118.7 million, or $1.39 per diluted share, compared to $84.9 million, or $1.01 per share, for the year-earlier period. Nonregulated production grew 13% in the first half, while realized natural gas-sales prices rose 14%. First-half 2004 results included charges of $1.9 million, or $.02 per diluted share, for the potential refund liability. Questar’s net income for first-half 2003 included the $13.6 million after-tax charge in the gas-processing dispute. In addition, first-half 2003 results included a $.07-per-share noncash charge for the cumulative effect of implementing SFAS 143, Accounting for Asset Retirement Obligations. Excluding these charges, Questar earned $120.6 million, or $1.41 per share, in first-half 2004 versus $104.1 million, or $1.24 per share, for the year-earlier period.


There was an average of 85.3 million diluted common shares outstanding in first-half 2004 compared to 83.9 million in the year-earlier period.


SECOND-QUARTER 2004, NONREGULATED ACTIVITIES

Pinedale production doubles; Midcontinent production rises 20%

Questar Market Resources (QMR) – a subsidiary that conducts gas and oil development and production, gas gathering and processing and other nonregulated activities – increased net income 37% to $38.2 million in second-quarter 2004 versus $27.8 million a year earlier.


Questar Exploration and Production (QEP) – a QMR subsidiary that acquires, explores for, develops and produces natural gas and oil – earned $25.4 million, 46% higher than the prior-year period. Nonregulated production rose 18% to 25.2 bcfe, driven by accelerated development drilling on the Pinedale Anticline in western Wyoming and higher Midcontinent production.


Nonregulated Pinedale volumes grew to 4.9 bcfe from 2.5 bcfe a year earlier. QMR operated 76 Pinedale producing wells at the end of the 2004 period, 25 more than on Jan. 1, 2003. The Wyoming Oil and Gas Conservation Commission voted unanimously to approve QMR’s request to downspace from 40-acre- to 20-acre-density drilling at Pinedale. With 20-acre spacing, QMR has up to 354 wells yet to drill on its Pinedale acreage, 30 of which will be drilled in the second half of 2004.



QEP’s Uinta Basin production declined 13% from 7.0 bcfe in the 2003 quarter to 6.1 bcfe in the current-year quarter. The company expects Uinta Basin production to remain about flat with second-quarter levels for the remainder of 2004. Production from Rockies “legacy” properties increased 20% to 4.7 bcfe compared to 3.9 bcfe in the year-ago quarter. Total Rockies regional production comprised 62% of QEP’s nonregulated production in second-quarter 2004.


QEP’s Midcontinent production rose 20% to 9.5 bcfe in second-quarter 2004 versus 8.0 bcfe in the year-earlier period. The company reported continued success with a coalbed-methane development project in eastern Oklahoma and in-fill development drilling in northwestern Louisiana.


QEP’s average realized price for natural gas was $4.17 per thousand cubic feet (Mcf) in second-quarter 2004, 14% higher than the $3.66 per Mcf in the year-earlier period. About 80% of QEP’s second-quarter 2004 gas production was hedged at an average price of $4.00 per Mcf, net to the well. Net-to-the-well prices reflect adjustments for regional basis, gathering and processing, and gas quality. QEP may hedge up to 100% of its forecasted production from proved-developed reserves to lock in acceptable returns on invested capital and protect cash flows and earnings from gas- and oil-price declines. Hedging reduced natural gas revenues by $18.6 million in the second quarter and $33.3 million in first-half 2004. The company’s current hedges are provided at the end of this release.


Nonregulated oil and natural-gas-liquids production, which represented about 15% of QEP’s gas-equivalent production, declined 2% in the quarter to 559,000 barrels. The average realized sales price was $29.55 per barrel compared to $22.45 in the year-earlier quarter. About 85% of QEP’s second-quarter 2004 oil production was hedged at an average price of $31.01 per barrel. Oil hedging reduced QEP revenues by $3.3 million in the second quarter and $4.7 million in the first half of 2004.


QEP’s all-in pre-income-tax cost of production rose 7% to $2.49 per thousand cubic feet equivalent (Mcfe) in the second quarter from $2.33 per Mcfe in the prior-year period. Much of the increase was due to higher production taxes, which in turn result from higher realized prices. (See table at the end of this release.)



Wexpro – a QMR subsidiary that manages and develops cost-of-service reserves for Questar Gas – earned $8.8 million, $327,000 more than a year ago. Wexpro earns a formula-based return on its investment in completed gas wells and production facilities – the investment base – which grew 3% year-to-year to $165.3 million in the 2004 quarter.


Net income for QMR subsidiary Questar Gas Management – which provides nonregulated gas gathering and processing services – increased 44% to $4.1 million in the 2004 period versus $2.9 million in the 2003 quarter. Gathering volumes were 18% higher at 54.6 million decatherms (dth) in second-quarter 2004, driven by rising production on the Pinedale Anticline.


SECOND-QUARTER 2004, REGULATED BUSINESSES

Pipeline earnings flat; utility results hurt by accruals in Utah regulatory dispute

Questar Pipeline – which provides gas-transmission and storage services in several western states – earned $7.2 million in the current-year quarter compared with $7.3 million in the 2003 period. Revenues grew 2% in second-quarter 2004 to $40 million. Operating and maintenance costs were 6% above the year earlier due to higher employee-benefit and insurance expense.


Questar Gas – which conducts retail gas-distribution in Utah and portions of Wyoming and Idaho – reported a seasonal loss of $4 million in the current-year quarter compared with a $16.5 million loss in the comparable 2003 period. Both periods included after-tax charges for potential refund liability – $900,000 in 2004 and $13.6 million in 2003 – in the unresolved gas-processing dispute in Utah. Excluding these charges, Questar Gas reported seasonal losses of $3.1 million in second-quarter 2004 and $2.9 million in the 2003 quarter. On June 30, 2004, Questar Gas was serving about 772,000 customers, 2.9% more than a year earlier. Temperature-adjusted usage per customer was 17.2 dth for the 2004 quarter, same as the year-ago period.


SECOND-QUARTER 2004 – CORPORATE AND OTHER OPERATIONS

Net income from Corporate and Other Operations was $1.2 million in second-quarter 2004 compared with $1.7 million in the prior-year period.


FIRST-HALF 2004

Rising production, higher gas and oil prices

Questar Market Resources’ earnings rose 38% to $78.4 million in first-half 2004, reflecting increased natural gas production and higher realized prices. Nonregulated production grew 13% to 50.6 bcfe compared to 44.9 bcfe in the first half of 2003. The average realized price for natural gas rose 14% to $4.11 per Mcf in first-half 2004 versus $3.59 for the prior-year period. The average realized price for nonregulated oil and natural gas liquids in first-half 2004 was $29.50 per barrel compared to $23.59 in the 2003 period.


Wexpro earned $17.8 million in the first six months of 2004 versus $16.1 million for the 2003 period. Questar Gas Management increased year-over-year earnings $3 million to $9.5 million in first-half 2004, driven by a 15% increase in gathering volumes.


Questar Pipeline’s net income was $15.3 million for the first six months of 2004, about the same as a year ago. Higher operating expenses offset increased revenues from pipeline-expansion projects. Questar Gas reported net income of $22.3 million in first-half 2004 compared with $9.2 million in the year-earlier period. After-tax charges in the gas-processing dispute were $1.9 million in first-half 2004 and $13.6 million in the 2003 period. Excluding the charges, Questar Gas earned $24.2 million in the 2004 period compared with $22.8 million a year earlier.


Corporate and Other Operations produced $2.7 million in net income in first-half 2004 versus $3.7 million in the 2003 period.


Current Hedge Positions

   
 

Gas Hedges 2004

Bcf

 

Price (per Mcf) (net to well)

  

Rocky Mountains

   
   

2nd half

 

21.0

 

$3.69

  

Midcontinent

    
   

2nd half

 

12.1

 

$4.53

  

Total

    
   

2nd half

 

33.1

 

$4.00

 

Gas Hedges 2005

Bcf

 

Price (per Mcf) (net to well)

  

Rocky Mountains

   
   

1st half

 

16.5

 

$4.07

   

2nd half

 

16.7

 

$4.07

   

Year

 

33.2

 

$4.07

  

Midcontinent

    
   

1st half

 

7.7

 

$4.44

   

2nd half

 

7.8

 

$4.44

   

Year

 

15.5

 

$4.44

  

Total

    
   

1st half

 

24.2

 

$4.19

   

2nd half

 

24.5

 

$4.19

   

Year

 

48.7

 

$4.19

 

Gas Hedges 2006

Bcf

 

Price (per Mcf) (net to well)

  

Rocky Mountains

   
   

1st half

 

7.2

 

$4.59

   

2nd half

 

7.3

 

$4.59

   

Year

 

14.5

 

$4.59

  

Midcontinent

    
   

1st half

 

1.6

 

$4.81

   

2nd half

 

1.7

 

$4.81

   

Year

 

3.3

 

$4.81

  

Total

    
   

1st half

 

8.8

 

$4.63

   

2nd half

 

9.0

 

$4.63

   

Year

 

17.8

 

$4.63

 

Oil Hedges 2004

Mbbls

 

Price (per bbl) (net to well)

  

Rocky Mountains

   
   

2nd half

 

552

 

$30.91

  

Midcontinent

    
   

2nd half

 

184

 

$31.22

  

Total

    
   

2nd half

 

736

 

$30.99

 

Oil Hedges 2005

Mbbls

 

Price (per bbl) (net to well)

  

Rocky Mountains

   
   

1st half

 

272

 

$31.71

   

2nd half

 

276

 

$31.71

   

Year

 

548

 

$31.71

  

Midcontinent

    
   

1st half

 

90

 

$30.20

   

2nd half

 

92

 

$30.20

   

Year

 

182

 

$30.20

  

Total

    
   

1st half

 

362

 

$31.33

   

2nd half

 

368

 

$31.33

   

Year

 

730

 

$31.33


Questar Exploration and Production

Production by Region


 

3 Months Ended

6 Months Ended

 

June 30,

June 30,

 

2004

2003

2004

2003

 

(in bcfe)

     

Rocky Mountains

    

  Pinedale Anticline

4.9

2.5

11.0

5.4

  Uinta Basin

6.1

7.0

12.4

15.5

  Rockies Legacy

4.7

3.9

9.1

8.4

     Subtotal – Rocky Mountains

15.7

13.4

32.5

29.3

Midcontinent

9.5

8.0

18.1

15.6

        Total – Nonregulated production

25.2

21.4

50.6

44.9

     


The components of Questar E&P’s overall costs for nonregulated production are summarized in the following table.


 

3 Months Ending

6 Months Ending

 

June 30,

June 30,

 

2004

2003

2004

2003

     
     

Lease-operating expense

$0.52

$0.52

$0.50

$0.48

Production taxes

0.42

0.33

0.42

0.32

   Lifting costs

0.94

0.85

0.92

0.80

Depreciation, depletion and amortization

1.01

0.94

1.00

0.94

General and administrative expense

0.33

0.30

0.30

0.28

Allocated-interest expense

0.21

0.24

0.21

0.24

           Total

$2.49

$2.33

$2.43

$2.26



Questar is an integrated natural gas company with $4.3 billion in enterprise value. Headquartered in Salt Lake City, Questar engages in gas and oil development and production; gas gathering, processing and marketing; interstate gas transmission and storage; and retail gas distribution.


Forward-looking Statements


This release contains certain forward-looking statements within the meaning of the federal securities laws. Such statements are based on management's current expectations, estimates and projections, which are subject to a wide range of uncertainties and business risks. Factors that could cause actual results to differ from those anticipated are discussed in the company's periodic filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended Dec. 31, 2003. Subject to the requirements of otherwise applicable law, the company cannot be expected to update the statements contained in this news release or take actions described herein or otherwise currently planned.


For more information, visit Questar's internet site at: www.questar.com.




#



QUESTAR CORPORATION

      

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

      
 

3 Months Ended

6 Months Ended

12 Months Ended

 

June 30,

June 30,

June 30,

 

2004

2003

2004

2003

2004

2003

 

(in thousands, except per share amounts)

REVENUES

      

  Market Resources

$  244,360

$155,980

$  478,414

$  369,173

$  860,743

$  642,946

  Questar Pipeline

17,869

19,504

35,882

37,640

73,223

77,075

  Questar Gas

102,235

90,594

409,114

325,108

702,797

575,981

  Corporate and other operations

5,051

4,591

9,721

8,552

19,083

17,991

       

    TOTAL REVENUES

369,515

270,669

933,131

740,473

1,655,846

1,313,993

       

OPERATING EXPENSES

      

  Cost of natural gas and other products sold

127,727

69,959

393,986

271,300

665,127

440,956

  Operating and maintenance

76,417

68,211

154,846

142,048

297,064

287,210

  Depreciation, depletion and amortization

55,408

45,698

107,677

93,636

206,423

188,818

  Questar Gas rate-refund obligation

1,505

22,000

2,995

22,000

5,934

22,000

  Exploration

1,266

1,043

2,353

2,213

4,638

4,418

  Abandonment and impairment of gas,

      

     oil and other properties

2,287

492

6,693

975

9,869

11,103

  Production and other taxes

22,608

17,371

45,494

34,531

81,644

55,119

       

    TOTAL OPERATING EXPENSES

287,218

224,774

714,044

566,703

1,270,699

1,009,624

       

    OPERATING INCOME

82,297

45,895

219,087

173,770

385,147

304,369

       

Interest and other income

1,336

2,206

3,160

4,799

5,796

44,901

Earnings from unconsolidated affiliates

1,264

1,322

2,574

2,358

5,224

10,373

Minority interest

 

53

(270)

130

(178)

334

Debt expense

(17,055)

(17,512)

(34,571)

(36,428)

(68,879)

(77,151)

       

   INCOME BEFORE INCOME TAXES

      

AND CUMULATIVE EFFECT

67,842

31,964

189,980

144,629

327,110

282,826

Income taxes

25,286

11,692

71,291

54,155

119,699

100,982

       

INCOME BEFORE CUMULATIVE EFFECT

42,556

20,272

118,689

90,474

207,411

181,844

       

Cumulative effect of accounting change

      

for asset retirement obligations, net of

      

income taxes of $3,331

 

 

 

(5,580)

 

(5,580)

           NET INCOME

$    42,556

$    20,272

$  118,689

$    84,894

$  207,411

$  176,264

       

BASIC EARNINGS PER COMMON SHARE

      

Income before cumulative effect

$        0.51

$       0.24

$        1.42

$        1.10

$        2.49

$        2.21

Cumulative effect

   

(0.07)

 

(0.07)

Net income

$        0.51

$       0.24

$        1.42

$        1.03

$        2.49

$        2.14

       

DILUTED EARNINGS PER COMMON SHARE

     

Income before cumulative effect

$        0.50

$       0.24

$        1.39

$        1.08

$        2.44

$        2.19

Cumulative effect

   

(0.07)

 

(0.07)

Net income

$        0.50

$       0.24

$        1.39

$        1.01

$        2.44

$        2.12

Weighted average common shares outstanding

     

Used in basic calculation

83,651

82,678

83,511

82,453

83,263

82,144

Used in diluted calculation

85,445

84,274

85,305

83,866

84,945

83,212

       

Dividends per common share

$      0.215

$     0.185

$        0.42

$        0.37

$        0.83

$      0.735



QUESTAR CORPORATION

      

SELECTED FINANCIAL AND OPERATING RESULTS

(Unaudited)

      
 

3 Months Ended

6 Months Ended

12 Months Ended

 

June 30,

June 30,

June 30,

 

2004

2003

2004

2003

2004

2003

 

(in thousands, except per share amounts)

FINANCIAL RESULTS

      
       

REVENUES FROM UNAFFILIATED CUSTOMERS

   

  Market Resources

$   244,360

$   155,980

$   478,414

$   369,173

$   860,743

$   642,946

  Questar Pipeline

17,869

19,504

35,882

37,640

73,223

77,075

  Questar Gas

102,235

90,594

409,114

325,108

702,797

575,981

  Corporate and other operations

5,051

4,591

9,721

8,552

19,083

17,991

 

$   369,515

$   270,669

$   933,131

$   740,473

$1,655,846

$1,313,993

       

REVENUES FROM AFFILIATED COMPANIES

     

  Market Resources

$     34,090

$     29,957

$     68,447

$     56,406

$   129,547

$   106,143

  Questar Pipeline

21,794

19,307

44,087

39,646

86,298

76,365

  Questar Gas

1,017

568

2,154

1,457

2,901

2,035

  Corporate and other operations

5,079

7,512

11,606

15,249

26,556

31,445

 

$     61,980

$     57,344

$   126,294

$   112,758

$   245,302

$   215,988

       

OPERATING INCOME (LOSS)

      

  Market Resources

$     65,912

$     48,212

$   135,235

$   107,769

$   237,811

$   171,552

  Questar Pipeline

17,051

17,290

35,338

35,575

70,859

71,052

  Questar Gas

(2,428)

(22,082)

45,471

26,624

70,232

53,861

  Corporate and other operations

1,762

2,475

3,043

3,802

6,245

7,904

 

$     82,297

$     45,895

$   219,087

$   173,770

$   385,147

$   304,369

       

INCOME (LOSS) BEFORE CUMULATIVE

     

EFFECT OF ACCOUNTING CHANGE

  Market Resources

$     38,163

$     27,776

$     78,418

$     61,825

$   137,696

$   119,335

  Questar Pipeline

7,232

7,342

15,345

15,395

30,252

32,717

  Questar Gas

(3,999)

(16,458)

22,312

9,546

33,282

21,288

  Corporate and other operations

1,160

1,612

2,614

3,708

6,181

8,504

 

$     42,556

$     20,272

$   118,689

$     90,474

$   207,411

$   181,844

       

NET INCOME (LOSS)

      

  Market Resources

$     38,163

$     27,776

$     78,418

$     56,712

$   137,696

$   114,222

  Questar Pipeline

7,232

7,342

15,345

15,262

30,252

32,584

  Questar Gas

(3,999)

(16,458)

22,312

9,212

33,282

20,954

  Corporate and other operations

1,160

1,612

2,614

3,708

6,181

8,504

 

$     42,556

$     20,272

$   118,689

$     84,894

$   207,411

$   176,264

       

EARNINGS PER COMMON SHARE – DILUTED

     

Income before accounting change

$         0.50

          0.24

          1.39

          1.08

          2.44

          2.19

Net income

0.50

0.24

1.39

1.01

2.44

2.12

       

Weighted avg. diluted common shares

85,445

84,274

85,305

83,866

84,945

83,212

       

Dividends per common share

$       0.215

$       0.185

$         0.42

$         0.37

$         0.83

$      0.735

       

QUESTAR CORPORATION

      

SELECTED FINANCIAL AND OPERATING RESULTS

(Unaudited)

      
 

3 Months Ended

6 Months Ended

12 Months Ended

 

June 30,

June 30,

June 30,

OPERATING STATISTICS  

2004

2003

2004

2003

2004

2003

 

(d = 10, M = 1,000)

MARKET RESOURCES

      

  Nonregulated production volumes

      

    Natural gas (MMcf)

21,827

17,957

43,715

38,061

84,465

77,872

    Oil and natural gas liquids (Mbbl)

559

568

1,146

1,140

2,330

2,421

    Total production (bcfe)

25.2

21.4

50.6

44.9

98.4

92.4

    Average daily production (MMcfe)

277

235

278

248

269

253

       

  Average commodity prices, net to the well

      

  Average realized price (including hedges)

      

    Natural gas (per Mcf)

$4.17

$3.66

$4.11

$3.59

$3.89

$3.12

    Oil and natural gas liquids (per bbl)

$29.55

$22.45

$29.50

$23.59

$26.30

$22.30

       

  Average sales price (excluding hedges)

     

    Natural gas (per Mcf)

$5.03

$4.34

$4.87

$4.27

$4.48

$3.29

    Oil and natural gas liquids (per bbl)

$35.38

$26.62

$33.57

$28.89

$30.78

$27.05

       

  Natural gas gathering volumes (Mdth)

      

    For unaffiliated customers

32,164

28,031

66,458

56,357

124,875

111,716

    For Questar Gas

9,149

9,515

18,906

21,099

39,375

39,779

    For other affiliated customers

13,336

8,936

27,894

21,027

53,017

42,511

      Total gathering

54,649

46,482

113,258

98,483

217,267

194,006

    Gathering revenue (per dth)

$0.21

$0.20

$0.21

$0.20

$0.21

$0.18

       

  Wexpro investment base, net (million)

$165.3

$160.3

    
       

  Marketing volumes (Mdthe)

20,725

16,900

42,580

38,211

84,565

79,451

       

QUESTAR PIPELINE

      

  Natural gas transportation volumes (Mdth)

     

      For unaffiliated customers

55,250

61,880

108,984

127,396

233,253

264,227

      For Questar Gas

22,592

26,188

72,468

65,720

112,468

100,145

      For other affiliated customers

5,208

5,526

9,468

9,203

26,489

13,992

        Total transportation

83,050

93,594

190,920

202,319

372,210

378,364

    Transportation revenue (per dth)

$0.32

$0.27

$0.28

$0.25

$0.28

$0.27

       

QUESTAR GAS

      

  Natural gas volumes (Mdth)

      

    Residential and commercial sales

11,633

12,999

53,317

48,467

89,243

85,118

    Industrial sales

2,011

2,201

5,025

5,428

9,210

10,361

    Transportation for industrial customers

8,208

9,421

18,146

18,973

37,514

43,741

      Total deliveries

21,852

24,621

76,488

72,868

135,967

139,220

       

  Natural gas revenue (per dth)

      

    Residential and commercial

$7.29

$5.82

$6.90

$6.01

$7.05

$5.99

    Industrial sales

$5.35

$4.23

$5.45

$4.27

$5.38

$3.94

    Transportation for industrial customers

$0.19

$0.19

$0.19

$0.19

$0.18

$0.17

  Heating degree days

      

    colder (warmer) than normal

(16%)

1%

7%

(9%)

2%

(5%)

  Temperature-adjusted usage per customer (dth)

17.2

17.2

66.5

69.3

116.2

118.3

  Customers at June 30,

      

    Residential and commercial

770,472

748,512

    

    Industrial

1,223

1,282

    

           Total

771,695

749,794