An increasing reserve base of low-cost natural gas reserves in strong producing regions, Cash flows at the parent are partially stabilized by the steady contributions from Questar Pipeline, Questar Gas, and Wexpro (each about 10% of 2007's EBITDA), and Historically conservative balance-sheet metrics have helped offset the increased contribution of cash flows from the more volatile exploration and production (E&P) sector. Significant hedging on production volumes has stabilized cash flows. Affiliation with Questar Market Resources (QMR) exposes the company to the volatility of the gas E&P sector, Gas reserves are significantly concentrated in the Rocky Mountain region, which has suffered from low regional prices due to transportation bottlenecks, and Recent increase in debt leverage from an acquisition will weaken financial
