Spire Alabama 8-K Results of Operations and Financial Condition

Exhibit 99.2

CONSOLIDATED STATEMENTSOF INCOME (UNAUDITED)

For the 3 months ending June 30, 2008 and 2007

	2nd Quarter
(in thousands, except per share data)	2008			2007			Change
Operating Revenues
Oil and gas operations	$	231,780		$	203,356		$	28,424
Natural gas distribution		109,486			111,566			(2,080	)
Total operating revenues		341,266			314,922			26,344
Operating Expenses
Cost of gas		55,869			53,358			2,511
Operations and maintenance		93,427			84,111			9,316
Depreciation, depletion and amortization		44,114			38,707			5,407
Taxes, other than income taxes		29,868			21,870			7,998
Accretion expense		1,055			971			84
Total operating expenses		224,333			199,017			25,316
Operating Income		116,933			115,905			1,028
Other Income (Expense)
Interest expense		(10,258	)		(12,016	)		1,758
Other income		486			950			(464	)
Other expense		(452	)		(187	)		(265	)
Total other expense		(10,224	)		(11,253	)		1,029
Income from Continuing Operations Before Income Taxes		106,709			104,652			2,057
Income tax expense		39,831			36,749			3,082
Income from Continuing Operations		66,878			67,903			(1,025	)
Discontinued Operations, Net of Taxes
Income from discontinued operations		—			—			—
Gain on disposal of discontinued operations		—			—			—
Income from Discontinued Operations		—			—			—
Net Income	$	66,878		$	67,903		$	(1,025	)
Diluted Earnings Per Average Common Share
Continuing operations	$	0.93		$	0.94		$	(0.01	)
Discontinued operations		—			—			—
Net Income	$	0.93		$	0.94		$	(0.01	)
Basic Earnings Per Average Common Share
Continuing operations	$	0.93		$	0.95		$	(0.02	)
Discontinued operations		—			—			—
Net Income	$	0.93		$	0.95		$	(0.02	)
Diluted Avg. Common Shares Outstanding		72,055			72,249			(194	)
Basic Avg. Common Shares Outstanding		71,585			71,592			(7	)
Dividends Per Common Share	$	0.12		$	0.115		$	0.005

CONSOLIDATED STATEMENTSOF INCOME (UNAUDITED)

For the 6 months ending June 30, 2008 and 2007

	Year-to-date
(in thousands, except per share data)	2008			2007			Change
Operating Revenues
Oil and gas operations	$	456,675		$	397,389		$	59,286
Natural gas distribution		406,237			410,194			(3,957	)
Total operating revenues		862,912			807,583			55,329
Operating Expenses
Cost of gas		217,258			221,496			(4,238	)
Operations and maintenance		179,979			166,154			13,825
Depreciation, depletion and amortization		86,530			76,727			9,803
Taxes, other than income taxes		64,773			52,182			12,591
Accretion expense		2,100			1,921			179
Total operating expenses		550,640			518,480			32,160
Operating Income		312,272			289,103			23,169
Other Income (Expense)
Interest expense		(21,380	)		(24,237	)		2,857
Other income		730			1,511			(781	)
Other expense		(1,048	)		(382	)		(666	)
Total other expense		(21,698	)		(23,108	)		1,410
Income from Continuing Operations Before Income Taxes		290,574			265,995			24,579
Income tax expense		107,008			94,211			12,797
Income from Continuing Operations		183,566			171,784			11,782
Discontinued Operations, Net of Taxes
Income from discontinued operations		—			1			(1	)
Gain on disposal of discontinued operations		—			—			—
Income from Discontinued Operations		—			1			(1	)
Net Income	$	183,566		$	171,785		$	11,781
Diluted Earnings Per Average Common Share
Continuing operations	$	2.55		$	2.38		$	0.17
Discontinued operations		—			—			—
Net Income	$	2.55		$	2.38		$	0.17
Basic Earnings Per Average Common Share
Continuing operations	$	2.56		$	2.40		$	0.16
Discontinued operations		—			—			—
Net Income	$	2.56		$	2.40		$	0.16
Diluted Avg. Common Shares Outstanding		72,054			72,153			(99	)
Basic Avg. Common Shares Outstanding		71,611			71,538			73
Dividends Per Common Share	$	0.24		$	0.23		$	0.01

CONSOLIDATED STATEMENTSOF INCOME (UNAUDITED)

For the 12 months ending June 30, 2008 and 2007

	Trailing 12 Months
(in thousands, except per share data)	2008			2007			Change
Operating Revenues
Oil and gas operations	$	884,878		$	789,234		$	95,644
Natural gas distribution		605,511			641,819			(36,308	)
Total operating revenues		1,490,389			1,431,053			59,336
Operating Expenses
Cost of gas		314,191			342,712			(28,521	)
Operations and maintenance		347,268			315,427			31,841
Depreciation, depletion and amortization		171,180			150,017			21,163
Taxes, other than income taxes		108,422			93,797			14,625
Accretion expense		4,127			3,730			397
Total operating expenses		945,188			905,683			39,505
Operating Income		545,201			525,370			19,831
Other Income (Expense)
Interest expense		(44,243	)		(47,346	)		3,103
Other income		1,887			1,422			465
Other expense		(1,625	)		(849	)		(776	)
Total other expense		(43,981	)		(46,773	)		2,792
Income from Continuing Operations Before Income Taxes		501,220			478,597			22,623
Income tax expense		180,226			170,393			9,833
Income from Continuing Operations		320,994			308,204			12,790
Discontinued Operations, Net of Taxes
Income from discontinued operations		2			3			(1	)
Gain on disposal of discontinued operations		18			53			(35	)
Income from Discontinued Operations		20			56			(36	)
Net Income	$	321,014		$	308,260		$	12,754
Diluted Earnings Per Average Common Share
Continuing operations	$	4.46		$	4.26		$	0.20
Discontinued operations		—			—			—
Net Income	$	4.46		$	4.26		$	0.20
Basic Earnings Per Average Common Share
Continuing operations	$	4.48		$	4.29		$	0.19
Discontinued operations		—			0.01			(0.01	)
Net Income	$	4.48		$	4.30		$	0.18
Diluted Avg. Common Shares Outstanding		72,044			72,315			(271	)
Basic Avg. Common Shares Outstanding		71,641			71,765			(124	)
Dividends Per Common Share	$	0.47		$	0.45		$	0.02

SELECTED BUSINESS SEGMENT DATA (UNAUDITED)

For the 3 months ending June 30, 2008 and 2007

	2nd Quarter
(in thousands, except sales price data)	2008			2007		Change
Oil and Gas Operations
Operating revenues
Natural gas	$	135,216		$	124,712	$	10,504
Oil		74,928			60,615		14,313
Natural gas liquids		20,065			16,548		3,517
Other		1,571			1,481		90
Total	$	231,780		$	203,356	$	28,424
Production volumes from continuing operations
Natural gas (MMcf)		16,396			15,690		706
Oil (MBbl)		1,006			947		59
Natural gas liquids (MMgal)		18.1			19.1		(1.0	)
Production volumes from continuing ops. (MMcfe)		25,022			24,099		923
Total production volumes (MMcfe)		25,022			24,099		923
Revenue per unit of production including effects of all derivative instruments
Natural gas (Mcf)	$	8.25		$	7.95	$	0.30
Oil (barrel)	$	74.51		$	64.03	$	10.48
Natural gas liquids (gallon)	$	1.11		$	0.87	$	0.24
Other data from continuing operations
Lease operating expense (LOE)
LOE and other	$	41,602		$	39,121	$	2,481
Production taxes		21,553			13,589		7,964
Total	$	63,155		$	52,710	$	10,445
Depreciation, depletion and amortization	$	31,995		$	27,000	$	4,995
General and administrative expense	$	13,528		$	11,025	$	2,503
Capital expenditures	$	98,513		$	107,126	$	(8,613	)
Exploration expenditures	$	2,960		$	178	$	2,782
Operating income	$	119,087		$	111,472	$	7,615
Natural Gas Distribution
Operating revenues
Residential	$	63,711		$	66,828	$	(3,117	)
Commercial and industrial		31,378			31,172		206
Transportation		11,506			11,367		139
Other		2,891			2,199		692
Total	$	109,486		$	111,566	$	(2,080	)
Gas delivery volumes (MMcf)
Residential		3,211			3,187		24
Commercial and industrial		1,983			1,981		2
Transportation		11,264			12,197		(933	)
Total		16,458			17,365		(907	)
Other data
Depreciation and amortization	$	12,119		$	11,707	$	412
Capital expenditures	$	15,926		$	16,606	$	(680	)
Operating income	$	(1,472	)	$	4,970	$	(6,442	)

SELECTED BUSINESS SEGMENT DATA (UNAUDITED)

For the 6 months ending June 30, 2008 and 2007

	Year-to-date
(in thousands, except sales price data)	2008		2007		Change
Oil and Gas Operations
Operating revenues
Natural gas	$	266,170	$	247,937	$	18,233
Oil		139,027		114,699		24,328
Natural gas liquids		37,511		31,590		5,921
Other		13,967		3,163		10,804
Total	$	456,675	$	397,389	$	59,286
Production volumes from continuing operations
Natural gas (MMcf)		32,823		31,237		1,586
Oil (MBbl)		1,950		1,873		77
Natural gas liquids (MMgal)		34.9		38.0		(3.1	)
Production volumes from continuing ops. (MMcfe)		49,505		47,905		1,600
Total production volumes (MMcfe)		49,505		47,904		1,601
Revenue per unit of production including effects of all derivative instruments
Natural gas (Mcf)	$	8.11	$	7.94	$	0.17
Oil (barrel)	$	71.31	$	61.23	$	10.08
Natural gas liquids (gallon)	$	1.08	$	0.83	$	0.25
Other data from continuing operations
Lease operating expense (LOE)
LOE and other	$	84,737	$	74,530	$	10,207
Production taxes		38,129		25,600		12,529
Total	$	122,866	$	100,130	$	22,736
Depreciation, depletion and amortization	$	62,391	$	53,473	$	8,918
General and administrative expense	$	25,427	$	24,817	$	610
Capital expenditures	$	172,910	$	160,521	$	12,389
Exploration expenditures	$	3,309	$	275	$	3,034
Operating income	$	240,582	$	216,773	$	23,809
Natural Gas Distribution
Operating revenues
Residential	$	263,286	$	270,626	$	(7,340	)
Commercial and industrial		108,883		108,894		(11	)
Transportation		27,009		25,934		1,075
Other		7,059		4,740		2,319
Total	$	406,237	$	410,194	$	(3,957	)
Gas delivery volumes (MMcf)
Residential		14,742		14,766		(24	)
Commercial and industrial		6,959		6,853		106
Transportation		25,561		25,617		(56	)
Total		47,262		47,236		26
Other data
Depreciation and amortization	$	24,139	$	23,254	$	885
Capital expenditures	$	28,996	$	31,573	$	(2,577	)
Operating income	$	73,016	$	73,407	$	(391	)

SELECTED BUSINESS SEGMENT DATA (UNAUDITED)

For the 12 months ending June 30, 2008 and 2007

	Trailing 12 Months
(in thousands, except sales price data)	2008		2007		Change
Oil and Gas Operations
Operating revenues
Natural gas	$	517,639	$	463,219	$	54,420
Oil		275,825		206,541		69,284
Natural gas liquids		74,544		58,364		16,180
Other		16,870		61,110		(44,240	)
Total	$	884,878	$	789,234	$	95,644
Production volumes from continuing operations
Natural gas (MMcf)		65,886		63,009		2,877
Oil (MBbl)		3,956		3,686		270
Natural gas liquids (MMgal)		74.1		77.6		(3.5	)
Production volumes from continuing ops. (MMcfe)		100,206		96,216		3,990
Total production volumes (MMcfe)		100,206		96,215		3,991
Revenue per unit of production including effects of all derivative instruments
Natural gas (Mcf)	$	7.86	$	7.35	$	0.51
Oil (barrel)	$	69.73	$	56.03	$	13.70
Natural gas liquids (gallon)	$	1.01	$	0.75	$	0.26
Other data
Lease operating expense (LOE)
LOE and other	$	158,487	$	143,899	$	14,588
Production taxes		66,327		49,257		17,070
Total	$	224,814	$	193,156	$	31,658
Depreciation, depletion and amortization	$	123,159	$	104,198	$	18,961
General and administrative expense	$	51,474	$	38,975	$	12,499
Capital expenditures	$	391,868	$	324,642	$	67,226
Exploration expenditures	$	5,928	$	2,930	$	2,998
Operating income	$	475,376	$	446,245	$	29,131
Natural Gas Distribution
Operating revenues
Residential	$	380,951	$	410,691	$	(29,740	)
Commercial and industrial		164,892		173,381		(8,489	)
Transportation		50,330		48,888		1,442
Other		9,338		8,859		479
Total	$	605,511	$	641,819	$	(36,308	)
Gas delivery volumes (MMcf)
Residential		20,641		22,096		(1,455	)
Commercial and industrial		10,699		11,054		(355	)
Transportation		51,391		51,429		(38	)
Total		82,731		84,579		(1,848	)
Other data
Depreciation and amortization	$	48,021	$	45,819	$	2,202
Capital expenditures	$	56,285	$	67,295	$	(11,010	)
Operating income	$	72,351	$	81,243	$	(8,892	)