Supplementary Information For Oil And Gas Producing Activities (Tables)

12 Months Ended

Sep. 30, 2019

Supplementary Information For Oil And Gas Producing Activities Unaudited [Abstract]

Capitalized Costs Relating To Oil And Gas Producing Activities

Capitalized Costs Relating to Oil and Gas Producing Activities

	At September 30
	2019		2018
	(Thousands)
Proved Properties(1)	$	5,623,623	$	5,114,753
Unproved Properties	53,498		62,234
	5,677,121		5,176,987
Less — Accumulated Depreciation, Depletion and Amortization	4,012,568		3,862,687
	$	1,664,553	$	1,314,300

(1)

Includes asset retirement costs of $70.5 million and $44.3 million at September 30, 2019 and 2018, respectively.

Summary Of Capitalized Costs Of Unproved Properties Excluded From Amortization

Following is a summary of costs excluded from amortization at September 30, 2019:

	Total as of September 30, 2019		Year Costs Incurred
			2019		2018		2017		Prior
	(Thousands)
Acquisition Costs	$	24,265	$	—	$	—	$	—	$	24,265
Development Costs	21,483		17,819		481		43		3,140
Exploration Costs	7,606		—		—		32		7,574
Capitalized Interest	144		41		—		—		103
	$	53,498	$	17,860	$	481	$	75	$	35,082

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
	2019		2018			2017
	(Thousands)
United States
Property Acquisition Costs:
Proved	$	3,136	$	1,544		$	8,908
Unproved	3,679		4,286			262
Exploration Costs(1)	2,060		29,365			40,975
Development Costs(2)	468,498		332,496			200,639
Asset Retirement Costs	26,192		(10,107		)	(9,175		)
	$	503,565	$	357,584		$	241,609

(1) Amounts for 2019, 2018 and 2017 include capitalized interest of zero, zero and $0.3 million, respectively.

(2)

Amounts for 2019, 2018 and 2017 include capitalized interest of $0.2 million, $0.3 million and $0.2 million, respectively.

Results Of Operations For Producing Activities

Results of Operations for Producing Activities

	Year Ended September 30
	2019		2018		2017
United States	(Thousands, except per Mcfe amounts)
Operating Revenues:
Gas (includes transfers to operations of $2,532, $2,134 and $2,357, respectively)(1)	$	481,048	$	390,642	$	399,975
Oil, Condensate and Other Liquids	149,078		168,254		126,517
Total Operating Revenues(2)	630,126		558,896		526,492
Production/Lifting Costs	186,626		162,721		165,991
Franchise/Ad Valorem Taxes	17,673		14,355		15,372
Purchased Emission Allowance Expense	2,527		1,883		1,391
Accretion Expense	3,723		4,266		4,896
Depreciation, Depletion and Amortization ($0.71, $0.67 and $0.63 per Mcfe of production, respectively)	149,881		119,946		108,471
Income Tax Expense	64,652		72,723		86,657
Results of Operations for Producing Activities (excluding corporate overheads and interest charges)	$	205,044	$	183,002	$	143,714

(1) There were no revenues from sales to affiliates for all years presented.

(2)

Exclusive of hedging gains and losses. See further discussion in Note H — Financial Instruments.

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, 2016	1,631,451			43,124		1,674,575
Extensions and Discoveries	386,649		(1)	8		386,657
Revisions of Previous Estimates	84,480			6,369		90,849
Production	(154,093	)	(2)	(2,995	)	(157,088	)
Sale of Minerals in Place	(21,873	)		—		(21,873	)
September 30, 2017	1,926,614			46,506		1,973,120
Extensions and Discoveries	521,694		(1)	—		521,694
Revisions of Previous Estimates	90,113			3,322		93,435
Production	(160,499	)	(2)	(2,407	)	(162,906	)
Sale of Minerals in Place	(57,420	)		(10,581	)	(68,001	)
September 30, 2018	2,320,502			36,840		2,357,342
Extensions and Discoveries	686,549		(1)	—		686,549
Revisions of Previous Estimates	104,741			(1,233	)	103,508
Production	(195,906	)	(2)	(1,974	)	(197,880	)
September 30, 2019	2,915,886			33,633		2,949,519
Proved Developed Reserves:
September 30, 2016	1,089,492			43,124		1,132,616
September 30, 2017	1,316,596			46,506		1,363,102
September 30, 2018	1,569,692			36,840		1,606,532
September 30, 2019	1,901,162			33,633		1,934,795
Proved Undeveloped Reserves:
September 30, 2016	541,959			—		541,959
September 30, 2017	610,018			—		610,018
September 30, 2018	750,810			—		750,810
September 30, 2019	1,014,724			—		1,014,724

(1) Extensions and discoveries include 181 Bcf (during 2017), 274 Bcf (during 2018) and 175 Bcf (during 2019), of Marcellus Shale gas (which exceed 15% of total reserves) in the Appalachian region. Extensions and discoveries include 205 Bcf (during 2017), 248 Bcf (during 2018) and 512 Bcf (during 2019), of Utica Shale gas (which exceed 15% of total reserves) in the Appalachian region.

(2) Production includes 145,452 MMcf (during 2017), 150,196 MMcf (during 2018) and 163,015 MMcf (during 2019), from Marcellus Shale fields. Production includes 9,409 MMcf (during 2018) and 32,095 MMcf (during 2019), from Utica Shale fields.

	Oil Mbbl
	U.S.
	Appalachian Region		West Coast Region		Total Company
Proved Developed and Undeveloped Reserves:
September 30, 2016	73		28,936		29,009
Extensions and Discoveries	—		674		674
Revisions of Previous Estimates	(12	)	3,305		3,293
Production	(4	)	(2,736	)	(2,740	)
Sales of Minerals in Place	(29	)	—		(29	)
September 30, 2017	28		30,179		30,207
Extensions and Discoveries	—		2,301		2,301
Revisions of Previous Estimates	(10	)	2,487		2,477
Production	(4	)	(2,531	)	(2,535	)
Sales of Minerals in Place	—		(4,787	)	(4,787	)
September 30, 2018	14		27,649		27,663
Extensions and Discoveries	—		787		787
Revisions of Previous Estimates	2		(1,256	)	(1,254	)
Production	(3	)	(2,320	)	(2,323	)
September 30, 2019	13		24,860		24,873
Proved Developed Reserves:
September 30, 2016	73		28,698		28,771
September 30, 2017	28		29,771		29,799
September 30, 2018	14		26,689		26,703
September 30, 2019	13		24,246		24,259
Proved Undeveloped Reserves:
September 30, 2016	—		238		238
September 30, 2017	—		408		408
September 30, 2018	—		960		960
September 30, 2019	—		614		614

Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves

	Year Ended September 30
	2019		2018		2017
	(Thousands)
United States
Future Cash Inflows	$	8,738,182	$	7,822,855	$	6,144,317
Less:
Future Production Costs	2,989,518		2,606,411		2,378,262
Future Development Costs	797,640		559,707		411,578
Future Income Tax Expense at Applicable Statutory Rate	1,159,882		1,125,910		1,160,469
Future Net Cash Flows	3,791,142		3,530,827		2,194,008
Less:
10% Annual Discount for Estimated Timing of Cash Flows	2,054,823		1,810,522		1,080,962
Standardized Measure of Discounted Future Net Cash Flows	$	1,736,319	$	1,720,305	$	1,113,046

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
	2019			2018			2017
	(Thousands)
United States
Standardized Measure of Discounted Future
Net Cash Flows at Beginning of Year	$	1,720,305		$	1,113,046		$	642,528
Sales, Net of Production Costs	(425,773		)	(381,775		)	(345,075		)
Net Changes in Prices, Net of Production Costs	(164,428		)	541,021			828,187
Extensions and Discoveries	202,683			212,494			170,500
Changes in Estimated Future Development Costs	(69,254		)	(43,771		)	8,816
Sales of Minerals in Place	—			(100,816		)	(9,849		)
Previously Estimated Development Costs Incurred	245,964			182,348			101,134
Net Change in Income Taxes at Applicable Statutory Rate	21,370			55,558			(393,353		)
Revisions of Previous Quantity Estimates	53,777			61,363			39,078
Accretion of Discount and Other	151,675			80,837			71,080
Standardized Measure of Discounted Future Net Cash Flows at End of Year	$	1,736,319		$	1,720,305		$	1,113,046