Supplementary Information for Oil and Gas Producing Activities (Tables)

12 Months Ended

Sep. 30, 2023

Supplementary Information for Oil and Gas Producing Activities Unaudited [Abstract]

Schedule of Capitalized Costs Relating to Oil and Gas Producing Activities

Capitalized Costs Relating to Oil and Gas Producing Activities

	At September 30
	2023		2022
	(Thousands)
Proved Properties(1)	$	6,555,088	$	5,915,807
Unproved Properties	161,097		65,994
	6,716,185		5,981,801
Less — Accumulated Depreciation, Depletion and Amortization	4,269,959		4,034,266
	$	2,446,226	$	1,947,535

(1)Includes asset retirement costs of $129.2 million and $120.8 million at September 30, 2023 and 2022, respectively.

Summary of Capitalized Costs of Unproved Properties Excluded from Amortization

Following is a summary of costs excluded from amortization at September 30, 2023:

	Total as of September 30, 2023		Year Costs Incurred
			2023		2022		2021		Prior
	(Thousands)
Acquisition Costs	$	143,860	$	120,349	$	—	$	—	$	23,511
Development Costs	17,207		8,034		3,001		3,704		2,468
Exploration Costs	—		—		—		—		—
Capitalized Interest	30		30		—		—		—
	$	161,097	$	128,413	$	3,001	$	3,704	$	25,979

Schedule of 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
	2023		2022		2021
	(Thousands)
United States
Property Acquisition Costs:
Proved	$	33,190	$	2,491	$	1,801
Unproved	129,061		10,665		5,102
Exploration Costs(1)	10,055		9,631		15,413
Development Costs(2)	553,469		528,684		329,368
Asset Retirement Costs	8,363		9,768		20,194
	$	734,138	$	561,239	$	371,878

(1)Amounts for 2023, 2022 and 2021 include capitalized interest of zero, zero and $0.1 million respectively.

(2)Amounts for 2023, 2022 and 2021 include capitalized interest of $0.1 million, $0.6 million and $0.4 million, respectively.

Schedule of Results of Operations for Producing Activities

Results of Operations for Producing Activities

	Year Ended September 30
	2023		2022		2021
United States	(Thousands, except per Mcfe amounts)
Operating Revenues:
Gas (includes transfers to operations of $1,957, $5,696 and $3,061, respectively)(1)	$	1,036,499	$	1,730,723	$	780,477
Oil, Condensate and Other Liquids	2,261		150,957		135,191
Total Operating Revenues(2)	1,038,760		1,881,680		915,668
Production/Lifting Costs	253,555		283,914		267,316
Franchise/Ad Valorem Taxes	17,532		25,112		22,128
Purchased Emission Allowance Expense	—		1,305		2,940
Accretion Expense	5,673		7,530		7,743
Depreciation, Depletion and Amortization ($0.63, $0.57 and $0.54 per Mcfe of production, respectively)	235,694		202,418		177,055
Impairment of Oil and Gas Producing Properties	—		—		76,152
Income Tax Expense	145,574		368,925		98,593
Results of Operations for Producing Activities (excluding corporate overheads and interest charges)	$	380,732	$	992,476	$	263,741

(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 J — Financial Instruments.

Schedule of 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, 2020	3,296,113		28,972	3,325,085
Extensions and Discoveries	689,395	(1)	—	689,395
Revisions of Previous Estimates	19,940		3,033	22,973
Production	(312,300)	(2)	(1,720)	(314,020)
September 30, 2021	3,693,148		30,285	3,723,433
Extensions and Discoveries	837,510	(1)	—	837,510
Revisions of Previous Estimates	2,882		71	2,953
Production	(341,700)	(2)	(1,211)	(342,911)
Sale of Minerals in Place	(21,178)		(29,145)	(50,323)
September 30, 2022	4,170,662		—	4,170,662
Extensions and Discoveries	670,438	(1)	—	670,438
Revisions of Previous Estimates	32,379		—	32,379
Production	(372,271)	(2)	—	(372,271)
Purchases of Minerals in Place	33,876		—	33,876
September 30, 2023	4,535,084		—	4,535,084
Proved Developed Reserves:
September 30, 2020	2,744,851		28,972	2,773,823
September 30, 2021	3,061,178		30,285	3,091,463
September 30, 2022	3,312,568		—	3,312,568
September 30, 2023	3,550,034		—	3,550,034
Proved Undeveloped Reserves:
September 30, 2020	551,262		—	551,262
September 30, 2021	631,970		—	631,970
September 30, 2022	858,094		—	858,094
September 30, 2023	985,050		—	985,050

(1)Extensions and discoveries include 180 Bcf (during 2021), 301 Bcf (during 2022) and 163 Bcf (during 2023), of Marcellus Shale gas (which exceed 15% of total reserves) in the Appalachian region. Extensions and discoveries include 497 Bcf (during 2021), 537 Bcf (during 2022) and 507 Bcf (during 2023), of Utica Shale gas (which exceed 15% of total reserves) in the Appalachian region.

(2)Production includes 218,016 MMcf (during 2021), 209,463 MMcf (during 2022) and 190,290 MMcf (during 2023), from Marcellus Shale fields. Production includes 93,253 MMcf (during 2021), 130,240 MMcf (during 2022) and 180,750 MMcf (during 2023), from Utica Shale fields.

	Oil Mbbl
	U.S.
	Appalachian Region	West Coast Region	Total Company
Proved Developed and Undeveloped Reserves:
September 30, 2020	12	22,088	22,100
Extensions and Discoveries	—	1,041	1,041
Revisions of Previous Estimates	1	630	631
Production	(2)	(2,233)	(2,235)
September 30, 2021	11	21,526	21,537
Extensions and Discoveries	—	296	296
Revisions of Previous Estimates	255	532	787
Production	(16)	(1,588)	(1,604)
Sales of Minerals in Place	—	(20,766)	(20,766)
September 30, 2022	250	—	250
Revisions of Previous Estimates	(4)	—	(4)
Production	(30)	—	(30)
September 30, 2023	216	—	216
Proved Developed Reserves:
September 30, 2020	12	22,088	22,100
September 30, 2021	11	20,930	20,941
September 30, 2022	250	—	250
September 30, 2023	216	—	216
Proved Undeveloped Reserves:
September 30, 2020	—	—	—
September 30, 2021	—	596	596
September 30, 2022	—	—	—
September 30, 2023	—	—	—

Schedule of Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves

	Year Ended September 30
	2023		2022		2021
	(Thousands)
United States
Future Cash Inflows	$	11,947,345	$	19,209,099	$	10,175,182
Less:
Future Production Costs	3,538,389		3,138,226		3,423,629
Future Development Costs	1,095,096		781,847		597,662
Future Income Tax Expense at Applicable Statutory Rate	1,867,457		3,876,272		1,397,175
Future Net Cash Flows	5,446,403		11,412,754		4,756,716
Less:
10% Annual Discount for Estimated Timing of Cash Flows	2,874,295		5,964,424		2,403,144
Standardized Measure of Discounted Future Net Cash Flows	$	2,572,108	$	5,448,330	$	2,353,572

Schedule of 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
	2023		2022		2021
	(Thousands)
United States
Standardized Measure of Discounted Future Net Cash Flows at Beginning of Year	$	5,448,330	$	2,353,572	$	1,222,470
Sales, Net of Production Costs	(767,487)		(1,572,402)		(626,132)
Net Changes in Prices, Net of Production Costs	(3,918,392)		4,132,889		1,478,995
Extensions and Discoveries	237,057		1,355,257		462,040
Changes in Estimated Future Development Costs	(222,233)		(32,160)		48,247
Purchases of Minerals in Place	34,346		—		—
Sales of Minerals in Place	—		(311,308)		—
Previously Estimated Development Costs Incurred	342,024		154,253		81,239
Net Change in Income Taxes at Applicable Statutory Rate	959,728		(1,180,349)		(415,993)
Revisions of Previous Quantity Estimates	33,192		3,316		(52,383)
Accretion of Discount and Other	425,543		545,262		155,089
Standardized Measure of Discounted Future Net Cash Flows at End of Year	$	2,572,108	$	5,448,330	$	2,353,572