Derivative Instrument and Hedging Activities (Tables)

9 Months Ended

Sep. 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)
			September 30,		December 31,		September 30,		December 31,
Balance Sheet Location			2011		2010		2011		2010
			(In thousands)				(In thousands)
Cash Flow Hedges:
Interest rate contracts
		Derivative instruments-liabilities	$	-	$	-	$	21,606	$	19,694
		Deferred credits		-		-		57,589		4,652
Commodity contracts - Gathering and Processing:
	Natural gas price swaps
		Prepayments and other assets		721		-		-		-
		Derivative instruments-liabilities		8,504		16,459		-		-
		Deferred credits		473		-		-		-
	NGL price swaps
		Prepayments and other assets		-		-		857		-
		Deferred charges		352		-		-		-
		Derivative instruments-liabilities		-		-		309		-
		Deferred credits		214		-		-		-
			$	10,264	$	16,459	$	80,361	$	24,346
Economic Hedges:
Commodity contracts - Gathering and Processing:
	NGL processing spread swaps
		Derivative instruments-liabilities	$	-	$	-	$	15,232	$	29,057
	Other derivative instruments
		Prepayments and other assets		-		133		-		-
Commodity contracts - Distribution:
	Natural gas price swaps
		Derivative instruments-liabilities		-		234		21,466		34,968
		Deferred credits		6		105		2,317		2,806
			$	6	$	472	$	39,015	$	66,831
	Total		$	10,270	$	16,931	$	119,376	$	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 September 30,				Nine Months Ended September 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 $18,697, $1,459, $26,454 and $5,073, respectively	$	50,283	$	3,631	$	71,031	$	12,620
		Reclassification of unrealized loss from Accumulated other
			comprehensive loss - increase of Interest expense, excluding tax
			expense effect of $2,294, $2,186, $6,775 and $6,740 respectively		5,715		5,447		16,881		16,804
	Commodity contracts - Gathering and Processing:
		Change in fair value - decrease in Accumulated other
			comprehensiveloss, excluding tax expense effect of $3,039, $4,707, $2,674 and $14,320, respectively		8,434		13,059		7,420		39,733
		Reclassification of unrealized gain from Accumulated other
			comprehensiveloss - increase of Operating revenues, excluding
			tax expense effect of $2,017, $2,019, $5,327 and $4,291, respectively		5,598		5,603		14,782		11,907
Economic Hedges:
	Commodity contracts - Gathering and Processing:
		Change in fair value of strategic hedges - decrease in Operating revenues (2)			3,998		29,180		27,863		14,508
		Change in fair value of other hedges - (increase)/decrease in Operating revenues			(35)		279		(252)		465
	Commodity contracts - Distribution:
		Change in fair value - (increase)/decrease in Deferred natural gas purchases			10,114		(13,914)		(13,658)		(6,207)

_________________

• See Note 6 – Comprehensive Income (Loss) for additional related information.
• Includes $6.3million and $23.1million of the cash settlement impact for previously recognized unrealized losses in the three-month and nine-month periods ended September 30, 2011, respectively. Includes $7.7million and $27.7 million of the cash settlement impact for previously recognized unrealized losses in the three-month and nine-month periods ended September 30, 2010, respectively. Additionally, includes a $5.1 million unrealized mark-to-market gain and a $9.3 million unrealized mark-to-market loss recorded in the three-month and nine-month periods ended September 30, 2011, respectively, and $29.2 million and $12.6 million of unrealized mark-to-market losses recorded in the three-month and nine-month periods ended September 30, 2010, respectively.