Supplementary Information For Oil And Gas Producing Activities (Tables)
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12 Months Ended |
Sep. 30, 2014
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Supplementary Information For Oil And Gas Producing Activities Unaudited [Abstract] |
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Capitalized Costs Relating To Oil And Gas Producing Activities |
Capitalized Costs Relating to Oil and Gas Producing Activities | | | | | | | | | | At September 30 | | 2014 | | 2013 | | (Thousands) | Proved Properties(1) | $ | 3,941,143 |
| | $ | 3,393,612 |
| Unproved Properties | 141,719 |
| | 106,085 |
| | 4,082,862 |
| | 3,499,697 |
| Less — Accumulated Depreciation, Depletion and Amortization | 1,211,610 |
| | 919,989 |
| | $ | 2,871,252 |
| | $ | 2,579,708 |
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| | (1) | Includes asset retirement costs of $75.7 million and $80.6 million at September 30, 2014 and 2013, respectively. |
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Summary Of Capitalized Costs Of Unproved Properties Excluded From Amortization |
Following is a summary of costs excluded from amortization at September 30, 2014: | | | | | | | | | | | | | | | | | | | | | | Total as of September 30, 2014 | | Year Costs Incurred | | | 2014 | | 2013 | | 2012 | | Prior | | (Thousands) | Acquisition Costs | $ | 61,712 |
| | $ | 7,057 |
| | $ | 905 |
| | $ | 5,585 |
| | $ | 48,165 |
| Development Costs | 42,362 |
| | 39,339 |
| | 677 |
| | 1,405 |
| | 941 |
| Exploration Costs | 36,882 |
| | 36,882 |
| | — |
| | — |
| | — |
| Capitalized Interest | 763 |
| | 763 |
| | — |
| | — |
| | — |
| | $ | 141,719 |
| | $ | 84,041 |
| | $ | 1,582 |
| | $ | 6,990 |
| | $ | 49,106 |
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Costs Incurred In Oil And Gas Property Acquisition, Exploration And Development Activities |
Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities | | | | | | | | | | | | | | Year Ended September 30 | | 2014 | | 2013 | | 2012 | | (Thousands) | United States | | Property Acquisition Costs: | | | | | | Proved | $ | 18,213 |
| | $ | 7,575 |
| | $ | 13,095 |
| Unproved | 7,884 |
| | 9,274 |
| | 13,867 |
| Exploration Costs(1) | 71,850 |
| | 49,483 |
| | 84,624 |
| Development Costs(2) | 490,164 |
| | 460,554 |
| | 576,397 |
| Asset Retirement Costs | (4,946 | ) | | 37,546 |
| | 10,344 |
| | $ | 583,165 |
| | $ | 564,432 |
| | $ | 698,327 |
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| | (1) | Amounts for 2014, 2013 and 2012 include capitalized interest of $0.7 million, $0.4 million and $1.0 million, respectively. |
| | (2) | Amounts for 2014, 2013 and 2012 include capitalized interest of $0.7 million, $0.7 million and $2.0 million, respectively. |
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Results Of Operations For Producing Activities |
Results of Operations for Producing Activities | | | | | | | | | | | | | | Year Ended September 30 | | 2014 | | 2013 | | 2012 | | (Thousands, except per Mcfe amounts) | United States | | | | | | Operating Revenues: | | | | | | Natural Gas (includes revenues from sales to affiliates of $1 for all years presented and transfers to operations of $2,145, $612 and $0, respectively) | $ | 515,080 |
| | $ | 371,311 |
| | $ | 181,544 |
| Oil, Condensate and Other Liquids | 298,179 |
| | 291,762 |
| | 307,018 |
| Total Operating Revenues(1) | 813,259 |
| | 663,073 |
| | 488,562 |
| Production/Lifting Costs | 165,534 |
| | 119,243 |
| | 83,361 |
| Franchise/Ad Valorem Taxes | 20,765 |
| | 17,200 |
| | 23,620 |
| Accretion Expense | 6,192 |
| | 3,929 |
| | 3,084 |
| Depreciation, Depletion and Amortization ($1.82, $1.98 and $2.19 per Mcfe of production) | 291,651 |
| | 238,467 |
| | 182,759 |
| Income Tax Expense | 140,484 |
| | 120,431 |
| | 81,904 |
| Results of Operations for Producing Activities (excluding corporate overheads and interest charges) | $ | 188,633 |
| | $ | 163,803 |
| | $ | 113,834 |
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| | (1) | Exclusive of hedging gains and losses. See further discussion in Note G — Financial Instruments. |
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Proved Developed And Undeveloped Oil And Gas Reserve Quantities |
| | | | | | | | | | | Gas MMcf | | U. S. | | | | Appalachian Region | | West Coast Region | | Total Company | Proved Developed and Undeveloped Reserves: | | | | | | September 30, 2011 | 606,606 |
| | 68,316 |
| | 674,922 |
| Extensions and Discoveries | 435,460 |
| (1) | 638 |
| | 436,098 |
| Revisions of Previous Estimates | (53,992 | ) | | (2,463 | ) | | (56,455 | ) | Production | (62,663 | ) | (2) | (3,468 | ) | | (66,131 | ) | September 30, 2012 | 925,411 |
| | 63,023 |
| | 988,434 |
| Extensions and Discoveries | 360,922 |
| (1) | 702 |
| | 361,624 |
| Revisions of Previous Estimates | 53,038 |
| | 112 |
| | 53,150 |
| Production | (100,633 | ) | (2) | (3,060 | ) | | (103,693 | ) | September 30, 2013 | 1,238,738 |
| | 60,777 |
| | 1,299,515 |
| Extensions and Discoveries | 446,821 |
| (1) | — |
| | 446,821 |
| Revisions of Previous Estimates | 43,690 |
| | 1,358 |
| | 45,048 |
| Production | (139,097 | ) | (2) | (3,210 | ) | | (142,307 | ) | Purchases of Minerals in Place | 33,986 |
| | — |
| | 33,986 |
| Sale of Minerals in Place | (76 | ) | | (103 | ) | | (179 | ) | September 30, 2014 | 1,624,062 |
| | 58,822 |
| | 1,682,884 |
| Proved Developed Reserves: | | | | |
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| September 30, 2011 | 350,458 |
| | 63,965 |
| | 414,423 |
| September 30, 2012 | 544,560 |
| | 59,923 |
| | 604,483 |
| September 30, 2013 | 807,055 |
| | 59,862 |
| | 866,917 |
| September 30, 2014 | 1,119,901 |
| | 57,907 |
| | 1,177,808 |
| Proved Undeveloped Reserves: | | | | |
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| September 30, 2011 | 256,148 |
| | 4,351 |
| | 260,499 |
| September 30, 2012 | 380,851 |
| | 3,100 |
| | 383,951 |
| September 30, 2013 | 431,683 |
| | 915 |
| | 432,598 |
| September 30, 2014 | 504,161 |
| | 915 |
| | 505,076 |
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| | (1) | Extensions and discoveries include 435 Bcf (during 2012), 355 Bcf (during 2013) and 442 Bcf (during 2014), of Marcellus Shale gas in the Appalachian Region. |
| | (2) | Production includes 55,812 MMcf (during 2012), 93,999 MMcf (during 2013) and 131,590 MMcf (during 2014), from Marcellus Shale fields (which exceed 15% of total reserves). |
| | | | | | | | | | | Oil Mbbl | | U. S. | | | | Appalachian Region | | West Coast Region | | Total Company | Proved Developed and Undeveloped Reserves: | | | | | | September 30, 2011 | 279 |
| | 43,066 |
| | 43,345 |
| Extensions and Discoveries | 28 |
| | 1,229 |
| | 1,257 |
| Revisions of Previous Estimates | 35 |
| | 1,095 |
| | 1,130 |
| Production | (36 | ) | | (2,834 | ) | | (2,870 | ) | September 30, 2012 | 306 |
| | 42,556 |
| | 42,862 |
| Extensions and Discoveries | — |
| | 2,443 |
| | 2,443 |
| Revisions of Previous Estimates | 5 |
| | (881 | ) | | (876 | ) | Production | (28 | ) | | (2,803 | ) | | (2,831 | ) | September 30, 2013 | 283 |
| | 41,315 |
| | 41,598 |
| Extensions and Discoveries | 18 |
| | 1,521 |
| | 1,539 |
| Revisions of Previous Estimates | (17 | ) | | (1,677 | ) | | (1,694 | ) | Production | (31 | ) | | (3,005 | ) | | (3,036 | ) | Purchases of Minerals in Place | — |
| | 83 |
| | 83 |
| Sales of Minerals in Place | — |
| | (13 | ) | | (13 | ) | September 30, 2014 | 253 |
| | 38,224 |
| | 38,477 |
| Proved Developed Reserves: | | | | |
| September 30, 2011 | 274 |
| | 37,306 |
| | 37,580 |
| September 30, 2012 | 306 |
| | 38,138 |
| | 38,444 |
| September 30, 2013 | 283 |
| | 38,082 |
| | 38,365 |
| September 30, 2014 | 253 |
| | 37,002 |
| | 37,255 |
| Proved Undeveloped Reserves: | | | | |
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| September 30, 2011 | 5 |
| | 5,760 |
| | 5,765 |
| September 30, 2012 | — |
| | 4,418 |
| | 4,418 |
| September 30, 2013 | — |
| | 3,233 |
| | 3,233 |
| September 30, 2014 | — |
| | 1,222 |
| | 1,222 |
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Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves |
| | | | | | | | | | | | | | Year Ended September 30 | | 2014 | | 2013 | | 2012 | | (Thousands) | United States | | | | | | Future Cash Inflows | $ | 10,001,545 |
| | $ | 8,943,942 |
| | $ | 7,373,129 |
| Less: | | | | | | Future Production Costs | 2,795,657 |
| | 2,334,393 |
| | 1,919,530 |
| Future Development Costs | 790,033 |
| | 749,876 |
| | 619,573 |
| Future Income Tax Expense at Applicable Statutory Rate | 2,434,370 |
| | 2,113,101 |
| | 1,812,055 |
| Future Net Cash Flows | 3,981,485 |
| | 3,746,572 |
| | 3,021,971 |
| Less: | | | | | | 10% Annual Discount for Estimated Timing of Cash Flows | 1,914,607 |
| | 1,780,206 |
| | 1,552,180 |
| Standardized Measure of Discounted Future Net Cash Flows | $ | 2,066,878 |
| | $ | 1,966,366 |
| | $ | 1,469,791 |
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Principal Sources Of Change In The Standardized Measure Of Discounted Future Net Cash Flows |
The principal sources of change in the standardized measure of discounted future net cash flows were as follows: | | | | | | | | | | | | | | Year Ended September 30 | | 2014 | | 2013 | | 2012 | | (Thousands) | United States | | | | | | Standardized Measure of Discounted Future | | | | | | Net Cash Flows at Beginning of Year | $ | 1,966,366 |
| | $ | 1,469,791 |
| | $ | 1,524,157 |
| Sales, Net of Production Costs | (626,960 | ) | | (526,630 | ) | | (381,581 | ) | Net Changes in Prices, Net of Production Costs | (38,723 | ) | | 339,655 |
| | (385,019 | ) | Extensions and Discoveries | 381,008 |
| | 390,255 |
| | 224,474 |
| Changes in Estimated Future Development Costs | 68,731 |
| | 6,117 |
| | 29,627 |
| Purchases of Minerals in Place | 34,705 |
| | — |
| | — |
| Sales of Minerals in Place | (691 | ) | | — |
| | — |
| Previously Estimated Development Costs Incurred | 179,502 |
| | 148,535 |
| | 252,967 |
| Net Change in Income Taxes at Applicable Statutory Rate | (231,807 | ) | | (130,574 | ) | | (19,280 | ) | Revisions of Previous Quantity Estimates | 55,184 |
| | 34,864 |
| | 103,472 |
| Accretion of Discount and Other | 279,563 |
| | 234,353 |
| | 120,974 |
| Standardized Measure of Discounted Future Net Cash Flows at End of Year | $ | 2,066,878 |
| | $ | 1,966,366 |
| | $ | 1,469,791 |
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