Segments of Operations

6 Months Ended

Jun. 30, 2011

Segments of Operations [Abstract]

Segments of Operations

Note 10 — Segments of Operations

The following tables set forth summarized financial information for the Company’s natural gas, marketing and production, pipeline, and corporate and other operations. The Company classifies its segments to provide investors with a view of the business through management’s eyes. The Company primarily separates its state regulated utility businesses from the non-regulated marketing and production business and from the federally regulated pipeline business. The Company has regulated utility businesses in the states of Montana, Wyoming, North Carolina, Maine, Ohio, and Pennsylvania and these businesses are aggregated together to form the natural gas operations. Transactions between reportable segments are accounted for on the accrual basis, and eliminated prior to external financial reporting. Inter-company eliminations between segments consist primarily of gas sales from the marketing and production operations to the natural gas operations, inter-company accounts receivable, accounts payable, equity, and subsidiary investment:

			Marketing
	Natural Gas		and		Pipeline		Corporate and
	Operations		Production		Operations		Other			Eliminations			Consolidated
OPERATING REVENUES
Natural gas operations	$	17,176,027	$	—	$	—	$	816,049		$	(896,814	)	$	17,095,262
Marketing and production		—		3,209,966		—		—			(1,734,301	)		1,475,665
Pipeline operations		—		—		102,061		—			—			102,061
Total operating revenue		17,176,027		3,209,966		102,061		816,049			(2,631,115	)		18,672,988
COST OF SALES
Gas purchased		9,656,357		—		—		816,049			(896,814	)		9,575,592
Marketing and production		—		2,942,680		—		—			(1,734,301	)		1,208,379
Total cost of sales		9,656,357		2,942,680		—		816,049			(2,631,115	)		10,783,971
GROSS MARGIN	$	7,519,670	$	267,286	$	102,061	$	—		$	—		$	7,889,017
OPERATING INCOME (LOSS)	$	902,183	$	79,627	$	48,396	$	(39,384	)	$	—		$	990,822
NET INCOME (LOSS)	$	359,742	$	23,625	$	27,752	$	(50,781	)	$	—		$	360,338

Three Months Ended June 30, 2010

			Marketing
	Natural Gas		and		Pipeline		Corporate and
	Operations		Production		Operations		Other			Eliminations			Consolidated
OPERATING REVENUE
Natural gas operations	$	14,760,696	$	—	$	—	$	—		$	(78,587	)	$	14,682,109
Marketing and production		—		3,704,869		—		—			(1,836,860	)		1,868,009
Pipeline operations		—		—		106,355		—			—			106,355
Total operating revenue		14,760,696		3,704,869		106,355		—			(1,915,447	)		16,656,473
COST OF SALES
Gas purchased		7,998,349		—		—		—			(78,587	)		7,919,762
Marketing and production		—		3,299,668		—		—			(1,836,860	)		1,462,808
Total cost of sales		7,998,349		3,299,668		—		—			(1,915,447	)		9,382,570
GROSS MARGIN	$	6,762,347	$	405,201	$	106,355	$	—		$	—		$	7,273,903
OPERATING INCOME (LOSS)	$	632,599	$	207,305	$	35,679	$	(8,843	)	$	—		$	866,740
NET INCOME	$	247,979	$	113,145	$	24,485	$	80,173		$	—		$	465,782

			Marketing
	Natural Gas		and		Pipeline		Corporate and
	Operations		Production		Operations		Other			Eliminations			Consolidated
OPERATING REVENUES
Natural gas operations	$	55,485,920	$	—	$	—	$	816,049		$	(987,124	)	$	55,314,845
Marketing and production		—		7,550,218		—		—			(4,249,051	)		3,301,167
Pipeline operations		—		—		208,385		—			—			208,385
Total operating revenue		55,485,920		7,550,218		208,385		816,049			(5,236,175	)		58,824,397
COST OF SALES
Gas purchased		34,463,575		—		—		816,049			(987,124	)		34,292,500
Marketing and production		—		6,856,837		—		—			(4,249,051	)		2,607,786
Total cost of sales		34,463,575		6,856,837		—		816,049			(5,236,175	)		36,900,286
GROSS MARGIN	$	21,022,345	$	693,381	$	208,385	$	—		$	—		$	21,924,111
OPERATING INCOME (LOSS)	$	7,789,050	$	306,225	$	112,396	$	(47,954	)	$	—		$	8,159,717
NET INCOME (LOSS)	$	4,618,867	$	109,407	$	64,554	$	(157,736	)	$	—		$	4,635,092
Total assets	$	118,582,518	$	3,929,493	$	636,991	$	71,829,841		$	(57,223,219	)	$	137,755,624
Goodwill	$	14,607,952	$	—	$	—	$	—		$	—		$	14,607,952

Six Months Ended June 30, 2010

			Marketing
	Natural Gas		and		Pipeline		Corporate and
	Operations		Production		Operations		Other			Eliminations			Consolidated
OPERATING REVENUES
Natural gas operations	$	46,345,465	$	—	$	—	$	—		$	(157,196	)	$	46,188,269
Marketing and production		—		9,188,180		—		—			(4,201,848	)		4,986,332
Pipeline operations		—		—		214,957		—			—			214,957
Total operating revenue		46,345,465		9,188,180		214,957		—			(4,359,044	)		51,389,558
COST OF SALES
Gas purchased		27,697,772		—		—		—			(157,196	)		27,540,576
Marketing and production		—		8,256,067		—		—			(4,201,848	)		4,054,219
Total cost of sales		27,697,772		8,256,067		—		—			(4,359,044	)		31,594,795
GROSS MARGIN	$	18,647,693	$	932,113	$	214,957	$	—		$	—		$	19,794,763
OPERATING INCOME (LOSS)	$	6,561,089	$	557,461	$	99,331	$	(11,364	)	$	—		$	7,206,517
NET INCOME	$	3,979,274	$	34,195	$	60,720	$	54,535		$	—		$	4,128,724
Total assets	$	106,298,682	$	4,737,608	$	755,112	$	58,037,889		$	(51,845,781	)	$	117,983,510
Goodwill	$	13,813,626	$	—	$	—	$	—		$	—		$	13,813,626