Supplemental Financial Informtion

EX-99.2 3 dex992.htm SUPPLEMENTAL FINANCIAL INFORMTION Supplemental Financial Informtion

Exhibit 99.2

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

For the 3 months ending June 30, 2007 and 2006


	2nd Quarter						Change
(in thousands, except per share data)	2007			2006			Change
Operating Revenues
Oil and gas operations	$	203,356		$	169,178		$	34,178
Natural gas distribution		111,566			113,196			(1,630	)
Total operating revenues		314,922			282,374			32,548

Operating Expenses
Cost of gas		53,358			57,831			(4,473	)
Operations & maintenance		84,111			78,401			5,710
Depreciation, depletion and amortization		38,707			34,499			4,208
Taxes, other than income taxes		21,870			21,433			437
Accretion expense		971			912			59
Total operating expenses		199,017			193,076			5,941
Operating Income		115,905			89,298			26,607

Other Income (Expense)
Interest expense		(12,016	)		(12,366	)		350
Other income		950			255			695
Other expense		(187	)		(272	)		85
Total other expense		(11,253	)		(12,383	)		1,130

Income from Continuing Operations Before Income Taxes		104,652			76,915			27,737
Income tax expense		36,749			27,313			9,436

Income from Continuing Operations		67,903			49,602			18,301

Discontinued Operations, Net of Taxes
Income (loss) from discontinued operations		-			(1	)		1
Gain on disposal of discontinued operations		-			-			-

Income (Loss) from Discontinued Operations		-			(1	)		1

Net Income	$	67,903		$	49,601		$	18,302

Diluted Earnings Per Average Common Share
Continuing operations	$	0.94		$	0.67		$	0.27
Discontinued operations		-			-			-

Net Income	$	0.94		$	0.67		$	0.27

Basic Earnings Per Average Common Share
Continuing operations	$	0.95		$	0.68		$	0.27
Discontinued operations		-			-			-

Net Income	$	0.95		$	0.68		$	0.27

Diluted Avg. Common Shares Outstanding		72,249			73,902			(1,653	)
Basic Avg. Common Shares Outstanding		71,592			73,028			(1,436	)
Dividends Per Common Share	$	0.115		$	0.11		$	0.005

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

For the 6 months ending June 30, 2007 and 2006


	Year-to-date						Change
(in thousands, except per share data)	2007			2006			Change

Operating Revenues
Oil and gas operations	$	397,389		$	338,697		$	58,692
Natural gas distribution		410,194			431,819			(21,625	)

Total operating revenues		807,583			770,516			37,067

Operating Expenses
Cost of gas		221,496			251,881			(30,385	)
Operations & maintenance		166,154			152,884			13,270
Depreciation, depletion and amortization		76,727			68,796			7,931
Taxes, other than income taxes		52,182			54,112			(1,930	)
Accretion expense		1,921			1,810			111

Total operating expenses		518,480			529,483			(11,003	)

Operating Income		289,103			241,033			48,070

Other Income (Expense)
Interest expense		(24,237	)		(25,543	)		1,306
Other income		1,511			962			549
Other expense		(382	)		(501	)		119

Total other expense		(23,108	)		(25,082	)		1,974

Income from Continuing Operations Before Income Taxes		265,995			215,951			50,044
Income tax expense		94,211			78,848			15,363

Income from Continuing Operations		171,784			137,103			34,681

Discontinued Operations, Net of Taxes
Income (loss) from discontinued operations		1			(8	)		9
Gain on disposal of discontinued operations		-			-			-

Income (Loss) from Discontinued Operations		1			(8	)		9

Net Income	$	171,785		$	137,095		$	34,690

Diluted Earnings Per Average Common Share
Continuing operations	$	2.38		$	1.85		$	0.53
Discontinued operations		-			-			-

Net Income	$	2.38		$	1.85		$	0.53

Basic Earnings Per Average Common Share
Continuing operations	$	2.40		$	1.87		$	0.53
Discontinued operations		-			-			-

Net Income	$	2.40		$	1.87		$	0.53

Diluted Avg. Common Shares Outstanding		72,153			73,978			(1,825	)
Basic Avg. Common Shares Outstanding		71,538			73,148			(1,610	)
Dividends Per Common Share	$	0.23		$	0.22		$	0.01

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

For the 12 months ending June 30, 2007 and 2006


	Trailing 12 Months
(in thousands, except per share data)	2007			2006			Change

Operating Revenues
Oil and gas operations	$	789,234		$	629,084		$	160,150
Natural gas distribution		641,819			667,194			(25,375	)

Total operating revenues		1,431,053			1,296,278			134,775

Operating Expenses
Cost of gas		342,712			380,224			(37,512	)
Operations & maintenance		315,427			294,302			21,125
Depreciation, depletion and amortization		150,017			135,961			14,056
Taxes, other than income taxes		93,797			101,751			(7,954	)
Accretion expense		3,730			3,160			570

Total operating expenses		905,683			915,398			(9,715	)

Operating Income		525,370			380,880			144,490

Other Income (Expense)
Interest expense		(47,346	)		(49,149	)		1,803
Other income		1,422			2,255			(833	)
Other expense		(849	)		(675	)		(174	)

Total other expense		(46,773	)		(47,569	)		796

Income from Continuing Operations Before Income Taxes		478,597			333,311			145,286
Income tax expense		170,393			119,836			50,557

Income from Continuing Operations		308,204			213,475			94,729

Discontinued Operations, Net of Taxes
Income (loss) from discontinued operations		3			(9	)		12
Gain on disposal of discontinued operations		53			22			31

Income from Discontinued Operations		56			13			43

Net Income	$	308,260		$	213,488		$	94,772

Diluted Earnings Per Average Common Share
Continuing operations	$	4.26		$	2.89		$	1.37
Discontinued operations		-			-			-

Net Income	$	4.26		$	2.89		$	1.37

Basic Earnings Per Average Common Share
Continuing operations	$	4.29		$	2.92		$	1.37
Discontinued operations		0.01			-			0.01

Net Income	$	4.30		$	2.92		$	1.38

Diluted Avg. Common Shares Outstanding		72,315			73,939			(1,624	)
Basic Avg. Common Shares Outstanding		71,765			73,149			(1,384	)
Dividends Per Common Share	$	0.45		$	0.42		$	0.03

SELECTED BUSINESS SEGMENT DATA (UNAUDITED)

For the 3 months ending June 30, 2007 and 2006


	2^nd Quarter
(in thousands, except sales price data)	2007		2006		Change
Oil and Gas Operations
Operating revenues
Natural gas	$	124,712	$	106,194	$	18,518
Oil		60,615		47,475		13,140
Natural gas liquids		16,548		13,807		2,741
Other		1,481		1,702		(221	)

Total	$	203,356	$	169,178	$	34,178
Production volumes from continuing operations
Natural gas (MMcf)		15,690		15,725		(35	)
Oil (MBbl)		947		914		33
Natural gas liquids (MMgal)		19.1		20.1		(1	)

Production volumes from continuing ops. (MMcfe)		24,099		24,076		23
Total production volumes (MMcfe)		24,099		24,075		24

Revenue per unit of production including effects of all derivative instruments
Natural gas (Mcf)	$	7.95	$	6.75	$	1.2
Oil (barrel)	$	64.03	$	51.92	$	12.11
Natural gas liquids (gallon)	$	0.87	$	0.69	$	0.18

Other data from continuing operations
Lease operating expense (LOE)
LOE and other	$	39,121	$	31,622	$	7,499
Production taxes		13,589		12,759		830

Total	$	52,710	$	44,381	$	8,329
Depreciation, depletion and amortization	$	27,000	$	23,566	$	3,434
Capital expenditures	$	107,126	$	50,652	$	56,474
Exploration expenditures	$	178	$	1,417	$	(1,239	)
Operating income	$	111,472	$	87,138	$	24,334

Natural Gas Distribution
Operating revenues
Residential	$	66,828	$	67,495	$	(667	)
Commercial and industrial		31,172		32,856		(1,684	)
Transportation		11,367		10,261		1,106
Other		2,199		2,584		(385	)

Total	$	111,566	$	113,196	$	(1,630	)
Gas delivery volumes (MMcf)
Residential		3,187		3,295		(108	)
Commercial and industrial		1,981		2,084		(103	)
Transportation		12,197		11,589		608

Total		17,365		16,968		397
Other data
Depreciation and amortization	$	11,707	$	10,933	$	774
Capital expenditures	$	16,606	$	21,590	$	(4,984	)
Operating income	$	4,970	$	2,711	$	2,259

SELECTED BUSINESS SEGMENT DATA (UNAUDITED)

For the 6 months ending June 30, 2007 and 2006


	Year-to-date
(in thousands, except sales price data)		2007		2006		Change
Oil and Gas Operations
Operating revenues
Natural gas	$	247,937	$	222,278	$	25,659
Oil		114,699		89,617		25,082
Natural gas liquids		31,590		23,484		8,106
Other		3,163		3,318		(155	)
Total	$	397,389	$	338,697	$	58,692
Production volumes from continuing operations

Natural gas (MMcf)		31,237		31,052		185
Oil (MBbl)		1,873		1,832		41
Natural gas liquids (MMgal)		38.0		36.7		1.3

Production volumes from continuing ops. (MMcfe)		47,905		47,285		620
Total production volumes (MMcfe)		47,904		47,284		620

Revenue per unit of production including effects of all derivative instruments
Natural gas (Mcf)	$	7.94	$	7.16	$	0.78
Oil (barrel)	$	61.23	$	48.93	$	12.30
Natural gas liquids (gallon)	$	0.83	$	0.64	$	0.19

Other data from continuing operations
Lease operating expense (LOE)
LOE and other	$	74,530	$	65,484	$	9,046
Production taxes		25,600		25,852		(252	)
Total	$	100,130	$	91,336	$	8,794

Depreciation, depletion and amortization	$	53,473	$	47,117	$	6,356
Capital expenditures	$	160,521	$	95,557	$	64,964
Exploration expenditures	$	275	$	1,526	$	(1,251	)
Operating income	$	216,773	$	175,677	$	41,096

Natural Gas Distribution
Operating revenues
Residential	$	270,626	$	286,001	$	(15,375	)
Commercial and industrial		108,894		117,413		(8,519	)
Transportation		25,934		22,996		2,938
Other		4,740		5,409		(669	)
Total	$	410,194	$	431,819	$	(21,625	)
Gas delivery volumes (MMcf)
Residential		14,766		14,980		(214	)
Commercial and industrial		6,853		7,025		(172	)
Transportation		25,617		24,948		669
Total		47,236		46,953		283
Other data
Depreciation and amortization	$	23,254	$	21,679	$	1,575
Capital expenditures	$	31,573	$	40,435	$	(8,862	)

Operating income	$	73,407	$	66,438	$	6,969

SELECTED BUSINESS SEGMENT DATA (UNAUDITED)

For the 12 months ending June 30, 2007 and 2006


	Trailing 12 Months
(in thousands, except sales price data)		2007		2006		Change
Oil and Gas Operations
Operating revenues
Natural gas	$	463,219	$	425,913	$	37,306
Oil		206,541		151,464		55,077
Natural gas liquids		58,364		44,141		14,223
Other		61,110		7,566		53,544
Total	$	789,234	$	629,084	$	160,150
Production volumes from continuing operations
Natural gas (MMcf)		63,009		62,242		767
Oil (MBbl)		3,686		3,481		205
Natural gas liquids (MMgal)		77.6		72.9		4.7

Production volumes from continuing ops. (MMcfe)		98,216		93,538		4,678
Total production volumes (MMcfe)		98,215		93,558		4,657

Revenue per unit of production including effects of all derivative instruments
Natural gas (Mcf)	$	7.35	$	6.84	$	0.51
Oil (barrel)	$	56.03	$	43.51	$	12.52
Natural gas liquids (gallon)	$	0.75	$	0.61	$	0.14

Other data
Lease operating expense (LOE)
LOE and other	$	143,899	$	121,610	$	22,289
Production taxes		49,257		56,050		(6,793	)
Total	$	193,156	$	177,660	$	15,496

Depreciation, depletion and amortization	$	104,198	$	92,987	$	11,211
Capital expenditures	$	324,642	$	360,759	$	(36,117	)
Exploration expenditures	$	2,930	$	1,708	$	1,222
Operating income	$	446,245	$	315,208	$	131,037
Natural Gas Distribution
Operating revenues
Residential	$	410,691	$	427,821	$	(17,130	)
Commercial and industrial		173,381		189,490		(16,109	)
Transportation		48,888		43,012		5,876
Other		8,859		6,871		1,988
Total	$	641,819	$	667,194	$	(25,375	)
Gas delivery volumes (MMcf)
Residential		22,096		22,398		(302	)
Commercial and industrial		11,054		11,817		(763	)
Transportation		51,429		49,115		2,314

Total		84,579		83,330		1,249

Other data
Depreciation and amortization	$	45,819	$	42,974	$	2,845
Capital expenditures	$	67,295	$	78,012	$	(10,717	)
Operating income	$	81,243	$	67,326	$	13,917