Immaterial Correction of Prior Period Financial Statements

9 Months Ended

Sep. 30, 2011

Prior Period Adjustment [Abstract]

Immaterial Correction

(12) Immaterial Correction of Prior Period Financial Statements

During the three months ended September 30, 2011, the Company determined certain immaterial corrections were required for previously-issued financial statements as discussed below. The corrections did not impact the Company's operating income and were not considered material to the Company's revenues and costs for the applicable periods.

The Company determined that revenues and purchased gas costs related to a new gas purchase arrangement were improperly classified as energy trading activities resulting in the netting of revenue and purchased gas which should have been shown on a gross basis in its previously-issued financial statements for the three months ended March 31, 2011 and June 30, 2011. As a result both revenues and purchased gas were understated by $39.5 million and $29.6 million for the three months ended March 31, 2011 and June 30, 2011. The following table reflects the revenues, purchased gas costs and total operating costs and expenses as previously reported and as corrected for the three months ended March 31, 2011 and June 30, 2011 (in thousands):

	Three Months Ended		Three Months Ended
	March 31, 2011		June 30, 2011
As previously reported:
Total revenues	$	450,315	$	496,147
Purchased gas and NGLs		360,478		399,589
Total operating costs and expenses		431,077		473,904
Operating income		19,238		22,243
As corrected:
Total revenues	$	489,770	$	525,735
Purchased gas and NGLs		399,933		429,177
Total operating costs and expenses		470,532		503,492
Operating income		19,238		22,243