Wexpro develops and produces gas and oil on certain properties for affiliated utility Questar Gas under the terms of a long-standing agreement with the states of Utah and Wyoming (the Wexpro Agreement). Pursuant to the Wexpro Agreement, Wexpro recovers its costs and receives an unlevered after-tax return of approximately 19-20% on its "investment base," which includes its net investment in successful development wells and related facilities, adjusted for working capital and reduced for depreciation and deferred income taxes. The term of the Wexpro Agreement coincides with the productive life of the gas and oil properties covered therein. As of June 30, 2008, Wexpro's investment base totaled $346 million. Wexpro has identified over $1.4 billion of additional investment opportunities.