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Condensed Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
REVENUES        
Natural gas operations $ 17,095,262 $ 14,682,109 $ 55,314,845 $ 46,188,269
Marketing and production 1,475,665 1,868,009 3,301,167 4,986,332
Pipeline operations 102,061 106,355 208,385 214,957
Total revenues 18,672,988 16,656,473 58,824,397 51,389,558
COST OF SALES        
Gas purchased 9,575,592 7,919,762 34,292,500 27,540,576
Marketing and production 1,208,379 1,462,808 2,607,786 4,054,219
Total cost of sales 10,783,971 9,382,570 36,900,286 31,594,795
GROSS MARGIN 7,889,017 7,273,903 21,924,111 19,794,763
OPERATING EXPENSES        
Distribution, general, and administrative 4,629,976 4,363,496 9,287,296 8,268,405
Maintenance 271,965 245,153 557,192 536,482
Depreciation and amortization 1,068,470 1,015,817 2,103,547 1,965,279
Accretion 34,803 29,745 69,413 58,845
Taxes other than income 892,981 752,952 1,746,946 1,759,235
Total operating expenses 6,898,195 6,407,163 13,764,394 12,588,246
OPERATING INCOME 990,822 866,740 8,159,717 7,206,517
LOSS FROM UNCONSOLIDATED AFFILIATE (20,194) (12,108) (83,151) (32,122)
OTHER INCOME, net 116,108 360,336 231,788 128,935
INTEREST EXPENSE (492,674) (528,972) (905,853) (1,121,756)
INCOME FROM OPERATIONS BEFORE INCOME TAXES 594,062 685,996 7,402,501 6,181,574
INCOME TAX EXPENSE (233,724) (220,214) (2,767,409) (2,052,850)
NET INCOME $ 360,338 $ 465,782 $ 4,635,092 $ 4,128,724
EARNINGS PER SHARE - BASIC $ 0.04 $ 0.08 $ 0.57 $ 0.68
EARNINGS PER SHARE - DILUTED $ 0.04 $ 0.08 $ 0.57 $ 0.68
WEIGHTED AVERAGE DIVIDENDS DECLARED PER COMMON SHARE $ 0.135 $ 0.135 $ 0.270 $ 0.270
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC 8,151,359 6,071,538 8,150,802 6,071,538
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED 8,159,825 6,080,617 8,158,955 6,079,527