Derivative Instrument and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2011

Notes to Financial Statements [Abstract]

Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value Text Block

			Asset Derivatives (1)					Liability Derivatives (1)
			June 30,		December 31,		June 30,		December 31,
Balance Sheet Location			2011		2010		2011		2010
			(In thousands)				(In thousands)
Cash Flow Hedges:
Interest rate contracts
		Derivative instruments-liabilities	$	-	$	-	$	23,353	$	19,694
		Deferred credits		-		-		11,039		4,652
Commodity contracts - Gathering and Processing:
	Natural gas price swaps
		Derivative instruments-liabilities	$	9,275	$	16,459	$	-	$	-
		Deferred credits		230		-		-		-
	NGL price swaps
		Derivative instruments-liabilities		-		-		2,408		-
		Deferred credits		-		-		836		-
			$	9,505	$	16,459	$	37,636	$	24,346
Economic Hedges:
Commodity contracts - Gathering and Processing:
	NGL processing spread swaps
		Derivative instruments-liabilities	$	-	$	-	$	26,716	$	29,057
	Other derivative instruments
		Prepayments and other assets		9		133		-		-
Commodity contracts - Distribution:
	Natural gas price swaps
		Derivative instruments-liabilities	$	100	$	234	$	13,098	$	34,968
		Deferred credits		51		105		716		2,806
			$	160	$	472	$	40,530	$	66,831
	Total		$	9,665	$	16,931	$	78,166	$	91,177

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• The Company has master netting arrangements with certain of its counterparties, which permit applicable obligations of the parties to be settled on a net versus gross basis. If a right of offset exists, the fair value amounts for the derivative instruments are reported in the unaudited interim Condensed Consolidated Balance Sheet on a net basis and disclosed herein on a gross basis.

Derivatives Effect On Income Table [Text Block]

				Three Months Ended June 30,				Six Months Ended June 30,
				2011		2010		2011		2010
				(In thousands)
Cash Flow Hedges: (1)
	Interest rate contracts:
		Change in fair value - increase in Accumulated other comprehensive
			loss, excluding tax expense effect of $6,891, $1,308, $7,757 and $3,614, respectively	$	18,478	$	3,253	$	20,748	$	8,989
		Reclassification of unrealized loss from Accumulated other
			comprehensive loss - increase of Interest expense, excluding tax
			expense effect of $2,253, $2,250, $4,481 and $4,554 respectively		5,615		5,607		11,166		11,357
	Commodity contracts - Gathering and Processing:
		Change in fair value - increase/(decrease) in Accumulated other
			comprehensiveloss, excluding tax expense effect of $(194), $390, $365 and $(9,613), respectively		(538)		1,080		1,014		(26,674)
		Reclassification of unrealized gain from Accumulated other
			comprehensiveloss - increase of Operating revenues, excluding
			tax expense effect of $1,678, $1,830, $3,310 and $2,272, respectively		4,655		5,077		9,184		6,304
Economic Hedges:
	Commodity contracts - Gathering and Processing:
		Change in fair value of strategic hedges - (increase)/decrease in Operating revenues (2)			7,149		(21,597)		23,865		(14,672)
		Change in fair value of other hedges - (increase)/decrease in Operating revenues			(18)		(375)		(217)		186
	Commodity contracts - Distribution:
		Change in fair value - decrease in Deferred natural gas purchases			(4,279)		(23,947)		(23,772)		(7,707)

_________________

• See Note 6 – Comprehensive Income (Loss) for additional related information.
• Includes $7.3million and $16.8million of the cash settlement impact for previously recognized unrealized losses in the three-month and six-month periods ended June 30, 2011, respectively. Includes $9 million and $20 million of the cash settlement impact for previously recognized unrealized losses in the three-month and six-month periods ended June 30, 2010, respectively. Additionally, includes a $300,000 unrealized mark-to-market gain and a $14.4 million unrealized mark-to-market loss recorded in the three-month and six-month periods ended June 30, 2011, respectively, and $22.3 million and $16.6 million of unrealized mark-to-market gains recorded in the three-month and six-month periods ended June 30, 2010, respectively.