STATE OF UTAH
(State of other jurisdiction of
incorporation or organization)

           1-8796
(Commission File No.)

                   87-0407509
                (I.R.S. Employer
               Identification No.)

          Item 7.   Financial Statements and Exhibits

                    (c)   Exhibits.

Exhibit No.

Exhibit

99.1

Release issued October 29, 2003, by Questar Corporation.

          Item 12.   Results of Operations and Financial Condition

          On October 29, 2003, Questar Corporation issued a press release announcing its earnings for the third quarter of 2003. A copy of this press release is furnished as Exhibit 99.1 and is incorporated by reference.

SIGNATURE

October 29, 2003

/s/S. E. Parks

S. E. Parks
Senior Vice President, Treasurer, and
Chief Financial Officer

List of Exhibits:

Exhibit No.

Exhibit

99.1

Release issued October 29, 2003, by Questar Corporation.

Exhibit 99.1

QUESTAR EARNINGS RISE 23% IN THIRD-QUARTER 2003

     Questar Corp. (NYSE:STR) reported a 23% increase in net income for third-quarter 2003 compared with the year-earlier period due primarily to a 43% increase in realized prices for nonregulated natural gas production.

     The integrated natural gas company earned $28.7 million, or $.34 per diluted share, in the 2003 quarter compared with $23.4 million, or $.28 per share, in the prior-year period. Questar Market Resources (QMR), a nonregulated subsidiary that conducts gas and oil exploration, production, gathering and processing, reported earnings of $27.4 million, a 71% year-to-year improvement due to higher natural gas prices.

     Keith O. Rattie, Questar chairman, president and CEO, said, "Higher natural gas prices and better-than-forecast natural gas production growth in the Rockies have driven Questar earnings in 2003. We now expect 2003 nonregulated natural gas and oil production to slightly exceed 92 bcfe (billion cubic feet equivalent), up about 10% from 2002 after adjusting for asset sales in the second half of last year.

     "Moreover, we have taken advantage of recent strength in natural gas prices to significantly increase our equity-production hedges for the remainder of 2003, as well as 2004 and 2005," Rattie said. "As a result, our 2004 earnings will be significantly less sensitive to commodity-price volatility than in the recent past."

     Before these items, Questar earned $132.8 million, or $1.58 per diluted share, in the first nine months of 2003 versus $99.2 million, or $1.20 per share, in the comparable 2002 period.

     For the trailing 12 months ended Sept. 30, 2003, Questar earned $181.6 million, or $2.17 per share, compared with $130.2 million, or $1.58 per share, for the comparable period ended Sept. 30, 2002. Questar's consolidated return on equity for the 12 months ended Sept. 30, 2003, was 15.7% while return on assets totaled 11.6%.

     There was an average of 84 million common diluted shares outstanding in the first nine months of 2003 versus 82.5 million shares a year earlier.

Company increases earnings guidance for 2003; provides initial guidance for 2004

     Rattie said that Questar now estimates that 2003 earnings will range from $2.20 to $2.30 per share, compared to previous guidance of $2.15 to $2.25 per share. This guidance assumes natural gas prices consistent with the forward-price curves at the close of business yesterday and excludes the $.16 per share charge on Aug. 1, 2003, related to CO₂ -processing costs in the company's retail gas-distribution business. The company's guidance also excludes the one-time $.07 per-share charge related to the cumulative effect of implementation of the new SFAS 143 accounting rules.

     The company also provided initial guidance for 2004. Questar estimates that next year's earnings could range from $2.25 to $2.40 per share. This guidance is based on forecast 2004 nonregulated production of 95 to 100 bcfe, and assumes natural gas prices for unhedged volumes at or near levels reflected in the current forward curves. The 2004 production and earnings guidance takes into account declining production and a higher depreciation, depletion and amortization rate in the company's Uinta Basin operations in eastern Utah (see the company's separate news release containing details on nonregulated activities).

     The company's 2004 guidance does not include gains and losses from the sale of assets, one-time charges, and any benefits from the possible renewal of tax credits for

Company significantly increases equity natural gas hedges for 2003 and 2004

     Questar also reported that it has taken advantage of recent strong natural gas prices to hedge additional volumes of expected natural gas production for the remainder of 2003, as well as 2004 and 2005. Questar has hedged 15.1 bcf of fourth-quarter 2003 natural gas production (about 72% of forecast) at an average net-to-the-well price of $3.71 per thousand cubic feet (Mcf).

     For 2004, Questar has now hedged 67.6 bcf (about 80% of forecast natural gas production) at an average net-to-the-well price of $4.02 per Mcf. The company's hedges are more heavily weighted to the Rockies, to reduce basis risk. The company estimates that a $.10 per million Btu change in natural gas prices at the Henry Hub for the full year 2004 will result in a change in Questar net income of $800,000-$900,000, or about $.01 per share.

     The company has also hedged 18 bcf of 2005 natural gas production at an average net-to-the-well price of $3.94 per Mcf. The company said it intends to add hedges in both 2004 and 2005 over the next 12-18 months.

     For the fourth quarter of 2003, the company has hedged 276,000 barrels of oil production at a net-to-the-well price of $21.80 per barrel. The company has not hedged 2004 or 2005 oil production. Oil production accounts for about 13-14% of the company's total production on a gas-equivalent basis.

Third Quarter 2003 Results

Nonregulated activities: higher natural gas prices boost results

     QMR reported net income of $27.4 million in third-quarter 2003 compared with $16 million in the year-earlier period. Questar Exploration and Production, a QMR subsidiary that conducts exploration and production operations in the Rockies and the Midcontinent, earned $17.4 million in the 2003 quarter versus $7 million a year earlier.

     QMR's average realized selling price for natural gas rose 43% to $3.56 per Mcf compared with $2.49 per Mcf in the 2002 quarter. The 2003 results reflected higher natural gas prices and the significant narrowing of the Rockies' natural gas-basis differential following the May 1 start-up of a regional pipeline expansion. QMR received an average price of $22.69 per barrel for nonregulated oil and natural gas-liquids production, 8% higher than in the 2002 quarter.

     Nonregulated natural gas-equivalent production declined 4% during the current-year quarter to 23 bcfe compared to 23.9 bcfe in the prior-year period due primarily to the company's sale of its Canadian subsidiary, effective October 2002, and other properties sold in 2002. However, Rocky Mountain production increased nearly 14% in the current-year quarter. Adjusting for property sales, QMR's third-quarter 2003 net production rose 13% over the year-ago period.

     Wexpro, a QMR subsidiary that develops gas reserves on behalf of Questar's gas-distribution utility, earned $7.8 million in the third quarter of 2003, compared to $7.9 million a year earlier. Wexpro earns a specified return on its net investment in commercial wells. Wexpro's investment base was $161.2 million at the end of third-quarter 2003.

     QMR's gas gathering, processing and marketing operations earned a combined $2.2 million in the 2003 quarter compared with $1.1 million for the comparable year-earlier quarter. Earnings before income taxes from QMR's share of Rendezvous Gas Services increased from $530,000 to $1.2 million in the 2003 quarter compared with the year-earlier period. A QMR subsidiary, Questar Gas Management, is a 50% partner in Rendezvous, which provides gathering and processing services for the Pinedale and Jonah producing areas in western Wyoming. Rendezvous will continue to benefit from growing gathering volumes from the Pinedale area.

Regulated Income declines due to lower pipeline construction activity and new utility rate structure

     Questar Regulated Services - which includes interstate gas transmission and storage and retail gas distribution - reported a net loss of $400,000 during third-quarter 2003 versus $4 million in earnings a year earlier.

     Questar Pipeline - an interstate gas transmission and storage subsidiary - earned $7.9 million in the 2003 quarter versus $8.8 million in the comparable 2003 period. Lower construction activity in 2003 resulted in reduced construction-related capitalized costs. Also, the TransColorado Pipeline contributed to 2002 third-quarter income before its sale in the fourth quarter. Questar Pipeline's total transportation volumes grew 9% to 89 million decatherms compared with a year earlier. The growth reflected the second-half 2002 start-up of the eastern zone of the company's Southern Trails Pipeline and increased deliveries to the expanded Kern River Pipeline.

     The seasonal loss from Questar Gas, the company's state-regulated retail gas distribution business, increased from $4.7 million in the third-quarter of 2002 to $8.3 million in the current-year period. Questar Gas benefited from a $2.3 million after-tax settlement related to gas-processing costs in the third quarter of 2002. This amount was part of the liability charge in the second quarter of 2003. In addition, Questar Gas's revenue profile has changed in 2003, with a greater portion of revenues expected in the first and fourth quarters because of a new rate structure that went into effect Dec. 30, 2002. Also, Questar Gas accrued an additional $900,000 after tax, including interest, for the possible refund of CO₂-processing costs.

Corporate and Other Operations

Nine-Month Results

Higher commodity prices boost nonregulated results

Regulated Activities

Corporate and Other Operations

CURRENT HEDGE POSITIONS

     Gas hedges/2003

Bcf

Price per Mcf.,

net to well

     Rocky Mountains

          4^th quarter

10.8

$3.53

     Midcontinent

          4^th quarter

4.3

$4.14

     Total

          4^th quarter

15.1

$3.71

     Oil hedges/2003

Mbbls

Price per bbl,

net to well

     Rocky Mountains

          4^th quarter

230

$21.68

     Midcontinent

          4^th quarter

46

$22.38

     Total

          4^th quarter

276

$21.80

     Gas hedges/2004

Bcf

Price per Mcf,

net to well

     Rocky Mountains

          1^st half

22.5

$3.78

          2^nd half

21.0

$3.69

          Year

43.5

$3.74

     Midcontinent

          1^st half

12.0

$4.53

          2^nd half

12.1

$4.53

          Year

24.1

$4.53

     Total

          1^st half

34.5

$4.04

          2^nd half

33.1

$3.99

          Year

67.6

$4.02

     Gas hedges/2005

Bcf

Price per Mcf.,

net to well

     Rocky Mountains

          1^st half

5.4

$3.67

          ^2nd half

5.6

$3.67

          Year

11.0

$3.67

     Midcontinent

          1^st half

3.5

$4.37

          ^2nd half

3.5

$4.37

          Year

7.0

$4.37

     Total

          1^st half

8.9

$3.94

          ^2nd half

9.1

$3.94

          Year

18.0

$3.94

     Questar is an integrated natural gas company headquartered in Salt Lake City with total assets of $3.1 billion. Through subsidiaries, it engages in gas and oil development and production; gas gathering, processing and marketing; interstate gas transmission and storage; retail gas distribution; retail energy services; and information systems and technologies.

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, 2002. 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