Spire Alabama 8-K Results of Operations and Financial Condition

Exhibit 99.2

CONSOLIDATED STATEMENTSOF INCOME (UNAUDITED)

For the 3 months ending June 30, 2014 and 2013

	2nd Quarter
(in thousands, except per share data)	2014			2013			Change
Revenues
Oil, natural gas liquids and natural gas sales	$	355,852		$	312,400		$	43,452
Gain (loss) on derivative instruments, net Loss on sale of assets and other		(84,846 (909	)  )		55,244 (663	)		(140,090 (246	)  )
Total revenues		270,097			366,981			(96,884	)
Operating Costs and Expenses
Oil, natural gas liquids and natural gas production		64,697			59,607			5,090
Production and ad valorem taxes		28,049			23,503			4,546
Depreciation, depletion and amortization		136,244			112,384			23,860
Exploration		2,575			3,455			(880	)
General and administrative Accretion of discount on asset retirement obligations		33,542 1,883			27,666 1,729			5,876 154
Total costs and expenses		266,990			228,344			38,646
Operating Income		3,107			138,637			(135,530	)
Other Income (Expense)
Interest expense		(7,964	)		(10,182	)		2,218
Other income		687			196			491
Total other expense		(7,277	)		(9,986	)		2,709
Income (Loss) From Continuing Operations Before Income Taxes		(4,170	)		128,651			(132,821	)
Income tax expense (benefit)		(1,016	)		46,229			(47,245	)
Income (Loss) From Continuing Operations		(3,154	)		82,422			(85,576	)
Discontinued Operations, net of tax
Income (loss) from discontinued operations		(4,799	)		645			(5,444	)
Income (Loss) From Discontinued Operations		(4,799	)		645			(5,444	)
Net Income (Loss)	$	(7,953	)	$	83,067		$	(91,020	)
Diluted Earnings Per Average Common Share
Continuing operations	$	(0.04	)	$	1.14		$	(1.18	)
Discontinued operations		(0.07	)		0.01			(0.08	)
Net Income (Loss)	$	(0.11	)	$	1.15		$	(1.26	)
Basic Earnings Per Average Common Share
Continuing operations	$	(0.04	)	$	1.14		$	(1.18	)
Discontinued operations		(0.07	)		0.01			(0.08	)
Net Income (Loss)	$	(0.11	)	$	1.15		$	(1.26	)
Diluted Avg. Common Shares Outstanding		72,851			72,419			432
Basic Avg. Common Shares Outstanding		72,851			72,167			684
Dividends Per Common Share	$	0.150		$	0.145		$	0.005

CONSOLIDATED STATEMENTSOF INCOME (UNAUDITED)

For the 6 months ending June 30, 2014 and 2013

	Year-to-date
(in thousands, except per share data)	2014			2013			Change
Revenues
Oil, natural gas liquids and natural gas sales	$	706,674		$	567,239		$	139,435
Gain (loss) on derivative instruments, net Loss on sale of assets and other		(138,237 (1,062	)  )		36,288 (215	)		(174,525 (847	)  )
Total revenues		567,375			603,312			(35,937	)
Operating Costs and Expenses
Oil, natural gas liquids and natural gas production		132,141			125,149			6,992
Production and ad valorem taxes		55,373			46,879			8,494
Depreciation, depletion and amortization		260,464			207,336			53,128
Exploration		15,389			4,953			10,436
General and administrative Accretion of discount on asset retirement obligations		65,715 3,726			55,752 3,416			9,963 310
Total costs and expenses		532,808			443,485			89,323
Operating Income		34,567			159,827			(125,260	)
Other Income (Expense)
Interest expense		(15,852	)		(20,083	)		4,231
Other income		1,010			1,370			(360	)
Total other expense		(14,842	)		(18,713	)		3,871
Income From Continuing Operations Before Income Taxes		19,725			141,114			(121,389	)
Income tax expense		7,232			50,273			(43,041	)
Income From Continuing Operations		12,493			90,841			(78,348	)
Discontinued Operations, net of tax
Income from discontinued operations		33,920			48,918			(14,998	)
Loss on disposal of discontinued operations		(1,050	)		—			(1,050	)
Income From Discontinued Operations		32,870			48,918			(16,048	)
Net Income	$	45,363		$	139,759		$	(94,396	)
Diluted Earnings Per Average Common Share
Continuing operations	$	0.17		$	1.26		$	(1.09	)
Discontinued operations		0.45			0.67			(0.22	)
Net Income	$	0.62		$	1.93		$	(1.31	)
Basic Earnings Per Average Common Share
Continuing operations	$	0.17		$	1.26		$	(1.09	)
Discontinued operations		0.45			0.68			(0.23	)
Net Income	$	0.62		$	1.94		$	(1.32	)
Diluted Avg. Common Shares Outstanding		73,031			72,329			702
Basic Avg. Common Shares Outstanding		72,737			72,155			582
Dividends Per Common Share	$	0.30		$	0.29		$	0.01

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

As of June 30, 2014 and December 31, 2013

(in thousands)	June 30, 2014		December 31, 2013
ASSETS
Current Assets
Cash and cash equivalents	$	1,516	$	2,523
Short-term investments		42,000		—
Accounts receivable, net of allowance		178,721		136,334
Inventories		12,541		11,130
Assets held for sale as of June 30, 2014 with prior period comparable		1,154,046		1,242,872
Derivative instruments		524		17,463
Other current assets		87,517		31,239
Total current assets		1,476,865		1,441,561
Property, Plant and Equipment
Oil and natural gas properties, net		5,413,727		5,087,573
Other property and equipment, net		37,869		30,515
Total property, plant and equipment, net		5,451,596		5,118,088
Noncurrent derivative instruments		623		5,439
Other assets		53,025		57,124
TOTAL ASSETS	$	6,982,109	$	6,622,212
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Long-term debt due within one year	$	570,000	$	60,000
Notes payable to banks		669,000		489,000
Accounts payable		135,416		78,178
Liabilities related to assets held for sale as of June 30, 2014 with prior period comparable		767,131		831,570
Derivative instruments		96,213		30,302
Other current liabilities		226,978		202,175
Total current liabilities		2,464,738		1,691,225
Long-term debt		553,552		1,093,541
Asset retirement obligations		113,087		108,533
Deferred income taxes		848,422		807,614
Noncurrent derivative instruments		21,705		398
Other long-term liabilities		66,588		62,882
Total liabilities		4,068,092		3,764,193
Total Shareholders’ Equity		2,914,017		2,858,019
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	6,982,109	$	6,622,212

SELECTED BUSINESS SEGMENT DATA (UNAUDITED)

For the 3 months ending June 30, 2014 and 2013

	2nd Quarter
(in thousands, except sales price and per unit data)	2014			2013			Change
Oil and Gas Operations
Oil, natural gas liquids and natural gas sales from continuing operations
Oil	$	262,746		$	234,870		$	27,876
Natural gas liquids		31,163			20,871			10,292
Natural gas		61,943			56,659			5,284
Total		355,852			312,400			43,452
Loss on sale of assets and other	$	(909	)	$	(663	)	$	(246	)
Open non-cash mark-to-market gains (losses) on derivative instruments
Oil	$	(66,172	)	$	36,680		$	(102,852	)
Natural gas liquids		40			168			(128	)
Natural gas		6,511			19,301			(12,790	)
Total	$	(59,621	)	$	56,149		$	(115,770	)
Closed gains (losses) on derivative instruments
Oil	$	(25,754	)	$	(9,076	)	$	(16,678	)
Natural gas liquids		159			3,109			(2,950	)
Natural gas		370			5,062			(4,692	)
Total	$	(25,225	)	$	(905	)	$	(24,320	)
Total Revenues	$	270,097		$	366,981		$	(96,884	)
Production volumes from continuing operations
Oil (MBbl)		2,833			2,592			241
Natural gas liquids (MMgal)		44.7			34.2			10.5
Natural gas (MMcf)		14,676			14,742			(66	)
Production volumes from continuing operations(MBOE)		6,344			5,864			480
Total production volumes (MBOE)		6,354			6,480			(126	)
Average realized prices excluding effects of open non-cash mark-to-market derivative instruments*
Oil (per barrel)	$	83.65		$	87.11		$	(3.46	)
Natural gas liquids (per gallon)	$	0.70		$	0.70		$	—
Natural gas (per Mcf)	$	4.25		$	4.19		$	0.06
Average realized prices excluding derivative instruments
Oil (per barrel)	$	92.74		$	90.61		$	2.13
Natural gas liquids (per gallon)	$	0.70		$	0.61		$	0.09
Natural gas (per Mcf)	$	4.22		$	3.84		$	0.38
Other costs per BOE from continuing operations
Oil, natural gas liquids and natural gas production expenses	$	10.20		$	10.16		$	0.04
Production and ad valorem taxes	$	4.42		$	4.01		$	0.41
Depreciation, depletion and amortization	$	21.31		$	19.00		$	2.31
Exploration expense	$	0.41		$	0.59		$	(0.18	)
General and administrative	$	5.29		$	4.72		$	0.57
Capital expenditures	$	322,572		$	349,879		$	(27,307	)

* The presentation of average prices with derivatives is a non-GAAP measure as a means to reflect the actual cash performance of our commodity derivatives for the respective periods and presents oil and natural gas prices with derivatives in a manner consistent with the presentation generally accepted by the investment community.

SELECTED BUSINESS SEGMENT DATA (UNAUDITED)

For the 6 months ending June 30, 2014 and 2013

	Year-to-date
(in thousands, except sales price and per unit data)	2014			2013			Change
Oil and Gas Operations
Oil, natural gas liquids and natural gas sales from continuing operations
Oil	$	516,505		$	425,629		$	90,876
Natural gas liquids		59,366			39,526			19,840
Natural gas		130,803			102,084			28,719
Total		706,674			567,239			139,435
Loss on sale of assets and other	$	(1,062	)	$	(215	)	$	(847	)
Open non-cash mark-to-market gains (losses) on derivative instruments
Oil	$	(87,636	)	$	28		$	(87,664	)
Natural gas liquids		327			147			180
Natural gas		(5,993	)		14,926			(20,919	)
Total	$	(93,302	)	$	15,101		$	(108,403	)
Closed gains (losses) on derivative instruments
Oil	$	(40,556	)	$	(1,632	)	$	(38,924	)
Natural gas liquids		355			5,591			(5,236	)
Natural gas		(4,734	)		17,228			(21,962	)
Total	$	(44,935	)	$	21,187		$	(66,122	)
Total Revenues	$	567,375		$	603,312		$	(35,937	)
Production volumes from continuing operations
Oil (MBbl)		5,584			4,906			678
Natural gas liquids (MMgal)		82.7			61.8			20.9
Natural gas (MMcf)		28,800			28,560			240
Production volumes from continuing operations(MBOE)		12,352			11,137			1,215
Total production volumes (MBOE)		12,516			12,401			115
Average realized prices excluding effects of open non-cash mark-to-market derivative instruments*
Oil (per barrel)	$	85.23		$	86.42		$	(1.19	)
Natural gas liquids (per gallon)	$	0.72		$	0.73		$	(0.01	)
Natural gas (per Mcf)	$	4.38		$	4.18		$	0.20
Average realized prices excluding derivative instruments
Oil (per barrel)	$	92.50		$	86.76		$	5.74
Natural gas liquids (per gallon)	$	0.72		$	0.64		$	0.08
Natural gas (per Mcf)	$	4.54		$	3.57		$	0.97
Other costs per BOE from continuing operations
Oil, natural gas liquids and natural gas production expenses	$	10.70		$	11.24		$	(0.54	)
Production and ad valorem taxes	$	4.48		$	4.21		$	0.27
Depreciation, depletion and amortization	$	20.93		$	18.45		$	2.48
Exploration expense	$	1.25		$	0.44		$	0.81
General and administrative	$	5.32		$	5.01		$	0.31
Capital expenditures	$	594,268		$	634,932		$	(40,664	)

* The presentation of average prices with derivatives is a non-GAAP measure as a means to reflect the actual cash performance of our commodity derivatives for the respective periods and presents oil and natural gas prices with derivatives in a manner consistent with the presentation generally accepted by the investment community.