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Risk Management Activities and Financial Instruments (Tables)
3 Months Ended
Jun. 30, 2013
Risk Management Activities and Financial Instruments  
Schedule of volumes of inventories which were economically hedged using each type of contract

 

 

 

 

June 30,

 

March 31,

 

 

 

2013

 

2013

 

 

 

 

 

 

 

Forwards

 

0.9 Bcf

 

1.6 Bcf

 

Futures

 

29.3 Bcf

 

14.1 Bcf

 

Swaps

 

4.7 Bcf

 

10.0 Bcf

 

Options

 

1.2 Bcf

 

 

 

 

36.1 Bcf

 

25.7 Bcf

Schedule of fair values of risk management assets and liabilities

 

 

 

Energy

 

Currency

 

 

 

June 30, 2013 

 

Contracts

 

Contracts

 

Total

 

 

 

 

 

 

 

 

 

Short-term risk management assets

 

$

38,153

 

$

1,163

 

$

39,316

 

Long-term risk management assets

 

5,017

 

344

 

5,361

 

Short-term risk management liabilities

 

(16,290

)

 

(16,290

)

Long-term risk management liabilities

 

(5,085

)

(13

)

(5,098

)

 

 

$

21,795

 

$

1,494

 

$

23,289

 

 

 

 

Energy

 

Currency

 

 

 

March 31, 2013

 

Contracts

 

Contracts

 

Total

 

 

 

 

 

 

 

 

 

Short-term risk management assets

 

$

20,383

 

$

776

 

$

21,159

 

Long-term risk management assets

 

6,593

 

 

6,593

 

Short-term risk management liabilities

 

(19,792

)

(213

)

(20,005

)

Long-term risk management liabilities

 

(4,477

)

(97

)

(4,574

)

 

 

$

2,707

 

$

466

 

$

3,173

Schedule of risk management assets and liabilities that had netting or rights of offset arrangements

 

June 30, 2013 

 

Gross Amounts
Recognized

 

Gross Amounts
Offset in the
Balance Sheet

 

Net Amounts
Presented in
the Balance
Sheet

 

Margin
Deposits not
Offset in the
Balance Sheet

 

Net Amount

 

Assets

 

 

 

 

 

 

 

 

 

 

 

Commodity derivatives

 

$

108,026

 

$

(64,856

)

$

43,170

 

$

(35,999

)

$

7,171

 

Currency derivatives

 

1,664

 

(157

)

1,507

 

(940

)

567

 

Total assets

 

109,690

 

(65,013

)

44,677

 

(36,939

)

7,738

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

Commodity derivatives

 

86,231

 

(64,856

)

21,375

 

(19,786

)

1,589

 

Currency derivatives

 

170

 

(157

)

13

 

 

13

 

Total liabilities

 

86,401

 

(65,013

)

21,388

 

(19,786

)

1,602

 

 

 

 

 

 

 

 

 

 

 

 

 

Net

 

$

23,289

 

 

$

23,289

 

$

(17,153

)

$

6,136

 

 

March 31, 2013 

 

Gross Amounts
Recognized

 

Gross Amounts
Offset in the
Balance Sheet

 

Net Amounts
Presented in
the Balance
Sheet

 

Margin
Deposits not
Offset in the
Balance Sheet

 

Net Amount

 

Assets

 

 

 

 

 

 

 

 

 

 

 

Commodity derivatives

 

$

88,682

 

$

(61,706

)

$

26,976

 

$

(15,030

)

$

11,946

 

Currency derivatives

 

881

 

(105

)

776

 

(776

)

 

Total assets

 

89,563

 

(61,811

)

27,752

 

(15,806

)

11,946

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

Commodity derivatives

 

85,975

 

(61,706

)

24,269

 

(16,861

)

7,408

 

Currency derivatives

 

415

 

(105

)

310

 

(164

)

146

 

Total liabilities

 

86,390

 

(61,811

)

24,579

 

(17,025

)

7,554

 

 

 

 

 

 

 

 

 

 

 

 

 

Net

 

$

3,173

 

$

 

$

3,173

 

$

1,219

 

$

4,392

Schedule of risk management assets and liabilities outstanding expected to be recognized into net earnings and comprehensive income in the fiscal periods

 

 

 

Energy

 

Currency

 

 

 

 

 

Contracts

 

Contracts

 

Total

 

 

 

 

 

 

 

 

 

Fiscal year ending March 31, 2014

 

$

19,744

 

$

1,070

 

$

20,814

 

Fiscal year ending March 31, 2015

 

2,278

 

177

 

2,455

 

Fiscal year ending March 31, 2016

 

(391

)

156

 

(235

)

Thereafter

 

164

 

91

 

255

 

 

 

$

21,795

 

$

1,494

 

$

23,289

Summary of net realized and unrealized optimization gains and losses from the settlement of risk management contracts

 

 

 

Three Months Ended

 

 

 

 

 

June 30,

 

 

 

 

 

2013

 

2012

 

Classification

 

 

 

 

 

 

 

 

 

Energy contracts

 

 

 

 

 

 

 

Realized

 

$

(6,342

)

$

28,653

 

Optimization, net

 

Unrealized

 

19,090

 

(52,578

)

Optimization, net

 

Currency contracts

 

 

 

 

 

 

 

Realized

 

1,464

 

451

 

Optimization, net

 

Unrealized

 

1,028

 

1,430

 

Optimization, net

 

 

 

$

15,240

 

$

(22,044

)