File No. 69-292
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
____________________________
Form U-3A-2 for 1995
Statement by Holding Company Claiming Exemption
Under Rule U-2 From the Provisions of the Public
Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
QUESTAR CORPORATION
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to
Rule 2, its statement claiming exemption as a holding company from the
provisions of the Public Utility Holding Company Act of 1935, and
submits the following information:
1. Name, state of organization, location and nature of business
of claimant and every subsidiary thereof, other than any exempt
wholesale generator (EWG) or foreign utility company in which claimant
directly or indirectly holds an interest.
Questar Corporation ("Questar" or the "Company") is a Utah
corporation with its principal executive office and principal place of
business at 180 East First South Street, P.O. Box 45433, Salt Lake City,
Utah 84145-0433. On October 2, 1984, the Company filed an initial Form
U-3A-2 with the Securities and Exchange Commission following a holding
company reorganization in which Mountain Fuel Supply Company ("Mountain
Fuel") became a subsidiary of Questar. Questar subsequently filed a
Form U-3A-2 on March 1, 1985, and on or before each subsequent March 1
to the present time.
As a parent company, Questar provides certain administrative
services, e.g., personnel, legal, public relations, communications, tax,
financial, and audit, to companies within the consolidated group.
Questar has direct subsidiaries: Mountain Fuel, a Utah corporation;
Entrada Industries, Inc., a Utah corporation ("Entrada"); Questar
Pipeline Company, a Utah corporation ("Questar Pipeline"); Questar
InfoComm, Inc. (formerly Questar Service Corporation), a Utah
corporation ("Questar InfoComm"); Universal Resources Corporation, a
Texas corporation ("URC"); Questar Development Corporation, a Utah
corporation ("Questar Development"); and Questar Energy Services, Inc.,
a Utah corporation ("Energy Services"). The Company owns 100 percent of
the common stock issued by each of these directly held subsidiaries.
Mountain Fuel is engaged in the retail distribution of natural gas
in the states of Utah, Wyoming, and Idaho. Mountain Fuel also
transports natural gas for industrial users in Utah and Wyoming.
Mountain Fuel's activities in Utah and Wyoming are subject to regulation
by the respective Public Service Commissions in those states. Mountain
Fuel has a contract to sell and transport natural gas to one customer in
Colorado. This isolated activity is not subject to the jurisdiction of
the Colorado Public Utilities Commission. Mountain Fuel's customers in
Idaho are served under the provisions of its Utah tariff. Pursuant to a
special contract with the Idaho Public Utilities Commission, Mountain
Fuel's Idaho natural gas service is regulated by the Public Service
Commission of Utah.
Questar Pipeline currently gathers, processes, transports and
stores natural gas in interstate commerce in the Rocky Mountain states
of Utah, Wyoming, and Colorado. Questar InfoComm owns data processing
and communications equipment and systems and performs data processing
and communications services for other members of the consolidated group
and third parties. URC is engaged in the exploration, production, and
development of oil and natural gas. URC also markets natural gas to
industrial end-users and other customers throughout the Rocky Mountain
and the Pacific Northwest areas. Questar Development is engaged in
business planning and development activities and through a subsidiary,
Interstate Land Corporation, owns, develops and manages real estate.
Energy Services was recently organized to market energy services, but
does not currently have any operations.
With the exception of Mountain Fuel, none of these companies is a
"public utility company" as that term is defined in the Public Utility
Holding Company Act of 1935, as amended (the "Act"). Mountain Fuel,
Questar InfoComm, and Questar Development have their principal executive
offices at 180 East First South Street, Salt Lake City, Utah. Questar
Pipeline, URC, and Energy Services have their principal executive
offices at 79 South State Street, Salt Lake City, Utah.
Entrada engages in various businesses not subject to state utility
regulation through its two direct subsidiaries: Wexpro Company
("Wexpro"), which conducts oil and gas development and production
activities on certain producing properties for the benefit of Mountain
Fuel in the Rocky Mountain region; and Celsius Energy Company
("Celsius"), which engages in oil and gas exploration and related
development and production activities throughout the western United
States. Neither Entrada nor either of its subsidiaries is a "public
utility company," as such term is defined in the Act. All three
companies have their principal offices at 79 South State Street, Salt
Lake City, Utah.
Questar does not have any interest, direct or indirect, in any
exempt wholesale generator or foreign utility company.
2. A brief description of the properties of claimant and each of
its subsidiary public utility companies used for the generation,
transmission, and distribution of electric energy for sale, or for the
production, transmission, and distribution of natural or manufactured
gas, indicating the location of principal generating plants,
transmission lines, producing fields, gas manufacturing plants, and
electric and gas distribution facilities, including all such properties
which are outside the state in which claimant and its subsidiaries are
organized and all transmission or pipelines which deliver or receive
electric energy or gas at the borders of such state.
Mountain Fuel, which is a "public utility company" for purposes of
the Act, was distributing natural gas to 592,738 sales and
transportation customers (defined as active meters) in Utah,
southwestern Wyoming, southeastern Idaho, and western Colorado as of
year-end 1995. Of these customers, 570,512 were located in Utah, 20,969
were located in southwestern Wyoming, 1,256 were located in southeastern
Idaho, and one was located in western Colorado. Mountain Fuel owns and
operates approximately 18,027 miles of street mains, service lines and
interconnecting pipelines in its distribution system, including
approximately 17,121 miles in its Utah distribution system.
Under the terms of a settlement agreement among Mountain Fuel,
Wexpro and various state parties ending several years of litigation,
Mountain Fuel owns the natural gas produced from gas reservoirs that
were productive as of August 1, 1981. Most of these productive
reservoirs are located in southwestern Wyoming and northwestern
Colorado; most of the gas produced from such reservoirs is distributed
to Mountain Fuel's retail natural gas customers. Gas owned by Mountain
Fuel but produced from reservoirs outside the location of pipelines
owned by Questar Pipeline is generally sold to or exchanged with other
companies. Gas owned by Mountain Fuel (including related royalty gas)
constituted about 64 percent of Mountain Fuel's total gas supply in 1995
and is reflected in Mountain Fuel's rates at "cost-of-service" prices.
As of September 1, 1993, Mountain Fuel became directly responsible
for gas acquisition activities. Questar Pipeline transports the gas
volumes purchased directly by Mountain Fuel and transports
cost-of-service-gas owned by Mountain Fuel and produced by Wexpro.
Mountain Fuel takes delivery of gas from Questar Pipeline and an
unaffiliated interstate pipeline at various points in Utah and Wyoming.
Mountain Fuel does not currently own any interstate transmission lines
or gas manufacturing plants. URC markets natural gas, but does not own
any distribution facilities in connection with such activities.
3. The following information for the last calendar year with
respect to claimant and each of its subsidiary public utility companies:
(a) Number of kwh of electric energy sold (at retail or
wholesale) and Mcf of natural or manufactured gas distributed at
retail.
During the 1995 calendar year, Mountain Fuel sold 83,160,000
decatherms ("Dth") of natural gas, including 73,950,000 Dth at retail,
and transported 59,569,000 Dth of natural gas. (Mountain Fuel generally
reports volumes in Dth; a Dth is equal to ten therms or one million
Btu's. In Mountain Fuel's gas system, each Mcf of natural gas contains
approximately 1.07 Dth.) (For purposes of this report, Mountain Fuel's
"retail" customers are general service or residential and commercial
customers. The term "wholesale" refers to industrial sales.) Mountain
Fuel's total revenues for 1995 were $362,769,000, of which $326,857,000
were attributable to its operations in Utah, $16,380,000 were
attributable to its operations in Wyoming, $121,000 were attributable to
its operations in Colorado, and $706,000 were attributable to its
operations in Idaho. (Mountain Fuel's total 1995 revenues included
$18,705,000 in addition to revenues from gas deliveries.) Mountain Fuel
did not distribute any manufactured gas during such calendar year.
Questar (the parent) did not make any retail distributions of natural
gas or manufactured gas during 1995. Neither Questar Pipeline nor URC
made any retail sales of natural gas or manufactured gas during 1995.
(b) Number of kwh of electric energy and Mcf of natural or
manufactured gas distributed at retail outside the state in which
each such company is organized.
During the 1995 calendar year, Mountain Fuel distributed at retail
3,354,000 Dth of natural gas outside the state of Utah, Mountain Fuel's
state of incorporation.
(c) Number of kwh of electric energy and Mcf of natural or
manufactured gas sold at wholesale outside the state in which each
such company is organized, or at the state line.
During 1995, Mountain Fuel sold at wholesale outside the state of
Utah, or at the state line of such state, 302,000 Dth of natural gas.
Mountain Fuel, during 1995, also transported 6,343,000 Dth of natural
gas to customers in Wyoming. Mountain Fuel did not sell at wholesale
any manufactured gas during 1995. Questar itself did not sell at
wholesale any natural gas or manufactured gas during 1995.
(d) Number of kwh of electric energy and Mcf of natural or
manufactured gas purchased outside the state in which each such
company is organized or at the state line.
During the 1995 calendar year, Mountain Fuel purchased 17,279,000
Dth of natural gas or approximately 21 percent of its total gas supply
outside the state of Utah or at the state line. Questar itself did not
purchase any gas volumes.
4. The following information for the reporting period with
respect to claimant and each interest it holds directly or indirectly in
an EWG or a foreign utility company, stating monetary amounts in United
States dollars:
(a) Name, location, business address and description of the
facilities used by the EWG or foreign utility company for the
generation, transmission and distribution of electric energy for
sale or for the distribution at retail of natural or manufactured
gas.
None. Neither Questar nor any of its affiliates has any interest,
direct or indirect, in any exempt wholesale generator or foreign utility
company.
(b) Name of each system company that holds an interest in
such EWG or foreign utility company; and description of the
interest held.
None. Questar and its affiliates do not have any interest, direct
or indirect, in any exempt wholesale generator or foreign utility
company.
(c) Type and amount of capital invested, directly or
indirectly, by the holding company claiming exemption; any direct
or indirect guarantee of the security of the EWG or foreign
utility company by the holding company claiming exemption; and any
debt or other financial obligation for which there is recourse,
directly or indirectly, to the holding company claiming exemption
or another system company, other than the EWG or foreign utility
company.
None. Questar does not have any interest, direct or indirect, in
any exempt wholesale generator or foreign utility company.
(d) Capitalization and earnings of the EWG or foreign
utility company during the reporting period.
None. Questar does not have any interest, direct or indirect, in
any exempt wholesale generator or foreign utility company.
(e) Identify any service, sales or construction contract(s)
between the EWG or foreign utility company and a system company,
and describe the services to be rendered or goods sold and fees or
revenues under such agreements(s).
None. Questar does not have any interest, direct or indirect, in
any exempt wholesale generator or foreign utility company.
UNDERTAKING
Questar hereby undertakes that it will not issue any shares of its
authorized preferred stock unless, on a pro forma basis giving effect to
such issuance, (1) consolidated earnings of Questar and its subsidiaries
available for interest and dividends for a period of 12 consecutive
calendar months within the 15 calendar months immediately preceding the
issuance of such stock, determined in accordance with generally accepted
accounting principles, would be at least one and one-half times the sum
of the annual interest requirements on consolidated long-term debt of
Questar (including current maturities and excluding interest charges on
indebtedness to be retired by the application of proceeds from the
issuance of such shares or in connection with the transaction in which
such shares are issued) and the annual dividend requirements on shares
of preferred stock of Questar and its subsidiaries; (2) the aggregate
outstanding long-term debt (including current maturities) of Questar and
its subsidiaries on a consolidated basis is less than or equal to 60
percent of the capitalization of Questar and its subsidiaries on a
consolidated basis; and (3) Questar's common stock represents at least
35 percent of the capitalization of Questar and its subsidiaries on a
consolidated basis. For purposes of the foregoing, consolidated
earnings of Questar and its subsidiaries available for interest and
dividends shall be determined on an after-tax basis and shall be the sum
of income before extraordinary items and interest expense; pro forma
income available for interest and dividends and pro forma interest
charges shall include income and interest charges of businesses
acquired, or proposed to be acquired, in conjunction with the issuance
of Questar preferred stock, for the pro forma periods, regardless of
whether the company acquired shall be accounted for on a
pooling-of-interests basis or otherwise, provided that such earnings
available for interest and dividends is determinable for the acquired
business in accordance with generally accepted accounting principles;
and consolidated capitalization shall include long-term debt (including
current maturities), preferred stock and any premium thereon, and the
sum of the common equity accounts of the company, all as prepared in
accordance with generally accepted accounting principles.
Questar has not issued any shares of its authorized preferred
stock and has no current plans to do so.
EXHIBIT A
A consolidating statement of income and surplus of the claimant
and its subsidiary companies as of the close of such calendar year,
together with a consolidating balance sheet of claimant and its
subsidiary companies as of the close of such calendar year.
The following exhibits are attached to and made a part of this
filing:
Exhibit A-1 Consolidating Statement of Income of Questar
Corporation and Subsidiaries as of December 31,
1995.
Exhibit A-2 Consolidated Statements of Common Shareholders'
Equity, Questar Corporation and Subsidiaries.
Exhibit A-3 Consolidating Balance Sheet, Questar Corporation and
Subsidiaries as of December 31, 1995.
Exhibit A-4 Consolidating Balance Sheet, Entrada Industries,
Inc., and subsidiaries as of December 31, 1995.
EXHIBIT B
If, at the time a report on this form is filed, the registrant is
required to submit this report and any amendments thereto
electronically, the registrant shall furnish a Financial Data Schedule.
The requested Financial Data Schedule information has been
submitted.
EXHIBIT C
An organization chart showing the relationship of each EWG or
foreign utility company to associate companies in the holding-company
system.
None.
The above-named Claimant has caused this statement to be duly executed
on its behalf by its authorized officer on this 28th day of February, 1996.
[corporate seal] QUESTAR CORPORATION
Attest:
/s/Connie C. Holbrook By /s/R. D. Cash
Connie C. Holbrook R. D. Cash
Vice President and Chairman, President and
Secretary Chief Executive Officer
Name, title and address of officer to whom notices and correspondence concerning
this statement should be addressed:
Connie C. Holbrook
Vice President & Secretary
Questar Corporation
180 East First South, P.O. Box 45433
Salt Lake City, Utah 84145-0433
Exhibit A-1
QUESTAR CORPORATION AND SUBSIDIARIES
CONSOLIDATING STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 1995
(In Thousands)
<TABLE>
<CAPTION>
Mountain Total
Fuel Questar Exploration Other Before
Supply Pipeline & Prod. Operations Elimin. Elimin. Consolid.
<S> <C> <C> <C> <C> <C> <C> <C>
REVENUES 358,758 43,316 245,264 1,949 649,287 649,287
Intercompany transactions 4,011 74,039 64,202 29,570 171,822 171,822
TOTAL REVENUES 362,769 117,355 309,466 31,519 821,109 171,822 649,287
OPERATING EXPENSES:
Natural gas purchases 190,606 146,856 337,462 138,043 199,419
Operating and maintenance 93,384 44,634 47,664 24,422 210,104 30,379 179,725
Depreciation and
amortization 25,469 16,614 50,044 4,165 96,292 96,292
Other taxes 9,588 4,170 17,177 890 31,825 31,825
Wexpro settlement agreement-
oil income sharing 3,400 3,400 3,400
TOTAL OPERATING EXPENSES 319,047 65,418 265,141 29,477 679,083 171,822 507,261
OPERATING INCOME 43,722 51,937 44,325 2,042 142,026 142,026
INTEREST AND OTHER INCOME (EXPENSE) 4,232 (1,886) 6,014 11,548 19,908 4,155 15,753
EARNINGS FROM AFFILIATES 1,534 27 1,561 1,561
DEBT EXPENSE (16,580) (13,472) (6,314) (10,604) (46,970) (4,155) (42,815)
INCOME BEFORE INCOME TAXES 31,374 38,113 44,052 2,986 116,525 116,525
INCOME TAX EXPENSE (CREDIT) 7,706 13,465 12,137 (569) 32,739 32,739
NET INCOME 23,668 24,648 31,915 3,555 83,786 83,786
</TABLE>
<PAGE>
QUESTAR CORPORATION AND SUBSIDIARIES
E&P CONSOLIDATING STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 1995
(In Thousands)
<TABLE>
<CAPTION>
Celsius Universal Total Intra-
Wexpro Energy Resources Before Segment Exploration
Company Company Corporation Elimin. Elimin. & Prod.
<S> <C> <C> <C> <C> <C> <C>
REVENUES 15,037 14,366 215,861 245,264 245,264
Intercompany transactions 59,831 15,030 5,414 80,275 16,073 64,202
TOTAL REVENUES 74,868 29,396 221,275 325,539 16,073 309,466
OPERATING EXPENSES:
Natural gas purchases 1,334 161,595 162,929 16,073 146,856
Operating and maintenance 15,527 9,041 23,096 47,664 47,664
Depreciation and
amortization 14,451 14,447 21,146 50,044 50,044
Other taxes 10,210 3,579 3,388 17,177 17,177
Wexpro settlement agreement-
oil income sharing 3,400 3,400 3,400
TOTAL OPERATING EXPENSES 43,588 28,401 209,225 281,214 16,073 265,141
OPERATING INCOME 31,280 995 12,050 44,325 44,325
INTEREST AND OTHER INCOME 1,145 736 4,133 6,014 6,014
EARNINGS FROM AFFILIATES 27 27 27
DEBT EXPENSE (893) (233) (5,188) (6,314) (6,314)
INCOME BEFORE INCOME TAXES 31,532 1,498 11,022 44,052 44,052
INCOME TAX EXPENSE (CREDIT) 11,514 (1,218) 1,841 12,137 12,137
NET INCOME 20,018 2,716 9,181 31,915 31,915
</TABLE>
<PAGE>
QUESTAR CORPORATION AND SUBSIDIARIES
OTHER OPERATIONS CONSOLIDATING STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 1995
(In Thousands)
<TABLE>
<CAPTION>
Questar Questar Other
Questar InfoComm Development Entrada Operations
<S> <C> <C> <C> <C> <C>
REVENUES 1,222 727 1,949
Intercompany transactions 69 26,404 3,097 29,570
TOTAL REVENUES 69 27,626 3,824 31,519
OPERATING EXPENSES:
Natural gas purchases
Operating and maintenance (1,188) 22,384 2,783 443 24,422
Depreciation and
amortization 155 3,406 575 29 4,165
Other taxes 313 260 317 890
TOTAL OPERATING EXPENSES (720) 26,050 3,675 472 29,477
OPERATING INCOME (LOSS) 789 1,576 149 (472) 2,042
INTEREST AND OTHER INCOME 7,932 1,201 2,348 67 11,548
DEBT EXPENSE (8,996) (618) (981) (9) (10,604)
INCOME (LOSS) BEFORE INCOME TAXES (275) 2,159 1,516 (414) 2,986
INCOME TAX EXPENSE (CREDIT) (1,173) 925 (168) (153) (569)
NET INCOME (LOSS) 898 1,234 1,684 (261) 3,555
</TABLE>
<PAGE>
Exhibit A-2
QUESTAR CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY
<TABLE>
<CAPTION> Note Unrealized gain
Common Stock Retained Receivable on securities
Shares Amount Earnings from ESOP available for sale
(Dollars in Thousands)
<S> <C> <C> <C> <C> <C>
Balances at January 1, 1993 39,794,913 260,539 321,690 (28,419)
Issuance of common stock 431,081 10,547
Purchase of Questar common stock (56,595) (1,979)
1993 net income 81,692
Payment of dividends
Preferred stock (695)
Common stock - $1.09 per share (43,610)
Income tax benefit of dividends paid to ESOP 560
Collection of note receivable from ESOP 1,617
Balances at December 31, 1993 40,169,399 269,107 359,637 (26,802)
Issuance of common stock 270,718 7,813
Purchase of Questar common stock (11,378) (365)
1994 net income 87,543
Payment of dividends
Preferred stock (591)
Common stock - $1.13 per share (45,528)
Income tax benefit of dividends paid to ESOP 516
Collection of note receivable from ESOP 2,259
Balances at December 31, 1994 40,428,739 276,555 401,577 (24,543)
Issuance of common stock 290,410 7,841
Purchase of Questar common stock (21,335) (620)
1995 net income 83,786
Payment of dividends
Preferred stock (483)
Common stock - $1.16 per share (47,042)
Income tax benefit of dividends paid to ESOP 446
Collection of note receivable from ESOP 3,305
Unrealized gain on securities available for sale,
net of income taxes 11,853
Balances at December 31, 1995 40,697,814 283,776 438,284 (21,238) 11,853
</TABLE>
<PAGE>
Exhibit A-3
QUESTAR CORPORATION AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1995
(In Thousands of Dollars)
<TABLE>
<CAPTION>
Mountain Questar Universal Questar Questar Entrada
Interco. Questar Fuel InfoComm Resources Pipeline Develop. Industr.
Consolid. Elimin. Corp. Supply Co. Corp. Corp. Co. Corp. Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CURRENT ASSETS
Cash and short-term investments $5,122 $1,295 $1,466 ($121) $536 $1,677 $338 ($69)
Notes receivable from affiliates 0 ($121,200) 107,200 0 0 0 0 0 14,000
Federal income taxes recoverable 4,045 968 3,971 (56) (1,281) (48) 321 170
Accounts and notes receivable 122,483 (28,631) 5,918 63,671 3,898 40,113 13,845 846 22,823
Inventories 28,110 0 20,915 0 2,994 2,858 0 1,343
Prepaid expenses and deposits 10,965 751 3,843 1,107 834 2,552 98 1,780
TOTAL CURRENT ASSETS 170,725 (149,831) 116,132 93,866 4,828 43,196 20,884 1,603 40,047
PROPERTY, PLANT AND EQUIPMENT 2,330,900 (179) 1,466 784,466 48,172 265,490 632,393 25,570 573,522
Less allowances for depreciation 1,020,779 1,114 302,619 28,477 126,850 212,898 8,727 340,094
NET PROPERTY, PLANT
AND EQUIPMENT 1,310,121 (179) 352 481,847 19,695 138,640 419,495 16,843 233,428
INVESTMENT IN AND ADVANCES
TO AFFILIATES 13,720 (727,507) 727,507 0 2,293 11,010 417 0
INVESTMENT IN NEXTEL 52,745 52,745
OTHER ASSETS 37,242 566 24,548 14 16 11,913 185 0
$1,584,553 ($877,517)$897,302 $600,261 $24,537 $184,145 $463,302 $19,048 $273,475
CURRENT LIABILITIES
Checks outstanding in excess of
cash balances 0 0
Short-term loans 77,200 77,200 0 0 $0 $0 0 0
Notes payable to affiliates 0 ($116,200) 14,000 56,100 2,100 11,200 15,200 14,800 2,800
Accounts payable and
accrued expenses 103,686 (28,631) 7,284 57,038 8,388 34,789 11,688 290 12,840
Federal income taxes payable 0 0 0 0 0 0 0 0
Other taxes payable 13,554 (513) 4,762 64 205 1,289 28 7,719
Purchased gas adjustments 9,182 9,182 0
Current portion of long-term debt 19,004 19,000 0 0 0 0 4 0
TOTAL CURRENT LIABILITIES 222,626 (144,831) 116,971 127,082 10,552 46,194 28,177 15,122 23,359
LONG-TERM DEBT, less current portion 421,695 (5,000) 59,000 175,000 5,000 53,000 134,525 170 0
DEFERRED CREDITS 34,700 (179) 1,727 16,029 638 7,683 5,346 158 3,298
DEFERRED INVESTMENT TAX CREDITS 7,271 0 7,157 0 0 114 0
DEFERRED INCOME TAXES 180,629 6,929 61,391 1,010 (4,856) 70,535 (1,178) 46,798
CUMULATIVE PREFERRED STOCK 4,957 0 4,957
0
COMMON SHAREHOLDERS' EQUITY 0
0
Common stock 317,285 (43,146) 317,285 22,974 277 5,999 6,551 3,036 4,309
Additional paid-in capital 0 (190,865) 0 41,875 4,724 58,325 82,034 3,907 0
Retained earnings 438,284 (493,496) 438,284 143,796 2,336 17,800 136,020 (2,167) 195,711
Treasury stock at cost (33,509) 0 (33,509) 0 0 0 0
Note receivable from ESOP (21,238) 0 (21,238)
Unrealized gain (loss)
on securities 11,853 0 11,853
TOTAL COMMON SHAREHOLDERS' EQUITY 712,675 (727,507) 712,675 208,645 7,337 82,124 224,605 4,776 200,020
$1,584,553 ($877,517)$897,302 $600,261 $24,537 $184,145 $463,302 $19,048 $273,475
</TABLE>
<PAGE>
Exhibit A-4
ENTRADA INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31,1995
(In Thousands of Dollars)
<TABLE>
<CAPTION>
Entrada Celsius
Interco. Industries Wexpro Energy
Consol. Elimin. Inc. Co. Co.
<S> <C> <C> <C> <C> <C>
CURRENT ASSETS
Cash and short-term investments ($69) $74 ($649) $506
Notes receivable from affiliates 14,000 0 0 0 14,000
Federal income taxes recoverable 170 201 (271) 240
Accounts and notes receivable 22,823 (591) 1,700 14,834 6,880
Inventories 1,343 0 1,142 201
Prepaid expenses and deposits 1,780 1 1,027 752
TOTAL CURRENT ASSETS 40,047 (591) 1,976 16,083 22,579
PROPERTY, PLANT AND EQUIPMENT 573,522 2,665 240,005 330,852
Less allowances for depreciation 340,094 1,954 134,832 203,308
NET PROPERTY, PLANT AND EQUIPMENT 233,428 0 711 105,173 127,544
INVESTMENT IN AFFILIATES 0 (199,228) 199,228 0 0
OTHER ASSETS 0 0 0 0
$273,475 ($199,819) $201,915 $121,256 $150,123
CURRENT LIABILITIES
Notes payable to affiliates $2,800 $0 $300 $2,500 $0
Accounts payable and accrued expenses 12,840 (591) 435 4,579 8,417
Federal income taxes payable 0 0 0 0
Other taxes payable 7,719 624 3,380 3,715
Current portion of long-term debt 0 0 0 0
TOTAL CURRENT LIABILITIES 23,359 (591) 1,359 10,459 12,132
LONG-TERM DEBT, less current portion 0 0 0 0
DEFERRED CREDITS 3,298 1,149 1,645 504
DEFERRED INCOME TAXES 46,798 (613) 21,340 26,071
COMMON SHAREHOLDER'S EQUITY
Common stock 4,309 (67,917) 4,309 22,517 45,400
Additional paid-in capital 0 (39,774) 0 0 39,774
Retained earnings 195,711 (91,537) 195,711 65,295 26,242
Treasury stock at cost 0 0 0 0 0
TOTAL COMMON SHAREHOLDER'S EQUITY 200,020 (199,228) 200,020 87,812 111,416
$273,475 ($199,819) $201,915 $121,256 $150,123
</TABLE>
<PAGE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
The schedule contains summarized financial information extracted from the
Questar Corporation Statements of Income and Balance Sheet for the period ended
December 31, 1995, and is qualified in its entirety by reference to such audited
financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 1,584,553
<TOTAL-OPERATING-REVENUES> 649,287
<NET-INCOME> 83,786
</TABLE>
