The stable cash flows that Questar Corp.'s pipeline, Wexpro, and gas utility segments generate, which collectively constitute about one-third of consolidated cash flow under our normalized hydrocarbon pricing assumptions; Relatively conservative financial leverage measures and management's commitment to keep capital expenditures in line with internally generated cash flows; and A competitive cost structure within Questar's oil and gas exploration and production (E&P) segment. The volatile and capital-intensive nature of Questar's growing E&P operations; and Our outlook that near-term natural gas prices will remain weak, particularly in the Rocky Mountain region, which accounts for 60% of Questar's oil and gas production. Questar Gas Co. is a wholly-owned subsidiary of Questar Corp. In our ratings assessment of Questar and its subsidiaries, we
