Exhibit 99.1
Equitable Resources, Inc. Year 2007 Business Segment Financial And Operational Data
Operating Income
The following table reconciles operating income by segment to the consolidated operating income reported in Equitable Resources, Inc.’s financial statements:
| | Three Months Ended | | Three Months Ended | | Three Months Ended | | Three Months Ended | | Twelve Months Ended | |
| | March 31, 2007 | | June 30, 2007 | | September 30, 2007 | | December 31, 2007 | | December 31, 2007 | |
| | | | | | | | | | | |
Operating income (thousands): | | | | | | | |
Equitable Production | | $ | 38,761 | | $ | 57,939 | | $ | 48,156 | | $ | 57,163 | | $ | 202,019 | |
Equitable Midstream | | 51,641 | | 20,662 | | 23,473 | | 44,656 | | 140,432 | |
Equitable Distribution | | 33,677 | | 3,435 | | (5,356 | ) | 2,785 | | 34,541 | |
Unallocated expenses | | (25,225 | ) | (20,517 | ) | (8,905 | ) | (10,672 | ) | (65,319 | ) |
Operating income | | $ | 98,854 | | $ | 61,519 | | $ | 57,368 | | $ | 93,932 | | $ | 311,673 | |
Equitable Resources, Inc. Year 2007 Business Segment Financial And Operational Data
EQUITABLE PRODUCTION
OPERATIONAL AND FINANCIAL REPORT
| | Three Months Ended | | Three Months Ended | | Three Months Ended | | Three Months Ended | | Twelve Months Ended | |
| | March 31, 2007 | | June 30, 2007 | | September 30, 2007 | | December 31, 2007 | | December 31, 2007 | |
| | | | | | | | | | | |
OPERATIONAL DATA | | | | | | | | | | | |
| | | | | | | | | | | |
Natural gas and oil production (MMcfe) | | 20,416 | | 21,024 | | 20,636 | | 21,038 | | 83,114 | |
Company usage, line loss (MMcfe) | | (1,078 | ) | (1,621 | ) | (1,684 | ) | (1,652 | ) | (6,035 | ) |
Total sales volumes (MMcfe) | | 19,338 | | 19,403 | | 18,952 | | 19,386 | | 77,079 | |
| | | | | | | | | | | |
Average (well-head) sales price ($/Mcfe) | | $ | 4.42 | | $ | 4.79 | | $ | 4.36 | | $ | 4.77 | | $ | 4.59 | |
| | | | | | | | | | | |
Lease operating expenses, excluding production taxes ($/Mcfe) | | $ | 0.32 | | $ | 0.30 | | $ | 0.33 | | $ | 0.27 | | $ | 0.31 | |
Production taxes ($/Mcfe) | | $ | 0.47 | | $ | 0.45 | | $ | 0.43 | | $ | 0.39 | | $ | 0.43 | |
Production depletion ($/Mcfe) | | $ | 0.70 | | $ | 0.70 | | $ | 0.70 | | $ | 0.70 | | $ | 0.70 | |
| | | | | | | | | | | |
Production depletion | | $ | 14,332 | | $ | 14,737 | | $ | 14,440 | | $ | 14,755 | | $ | 58,264 | |
Other depreciation, depletion and amortization | | 961 | | 930 | | 872 | | 1,057 | | 3,820 | |
Total depreciation, depletion and amortization | | $ | 15,293 | | $ | 15,667 | | $ | 15,312 | | $ | 15,812 | | $ | 62,084 | |
| | | | | | | | | | | |
Capital expenditures (thousands) | | $ | 56,765 | | $ | 67,623 | | $ | 90,704 | | $ | 112,988 | | $ | 328,080 | |
| | | | | | | | | | | |
FINANCIAL DATA (Thousands) | | | | | | | | | | | |
| | | | | | | | | | | |
Total operating revenues | | $ | 87,978 | | $ | 95,491 | | $ | 85,480 | | $ | 95,447 | | $ | 364,396 | |
| | | | | | | | | | | |
Operating expenses: | | | | | | | | | | | |
Lease operating expense excluding production taxes | | 6,533 | | 6,354 | | 6,787 | | 5,687 | | 25,361 | |
Production taxes | | 9,573 | | 9,530 | | 8,841 | | 8,179 | | 36,123 | |
Exploration expense | | 282 | | 117 | | 162 | | 301 | | 862 | |
Selling, general and administrative | | 17,536 | | 5,884 | | 6,222 | | 8,305 | | 37,947 | |
Depreciation, depletion and amortization | | 15,293 | | 15,667 | | 15,312 | | 15,812 | | 62,084 | |
Total operating expenses | | 49,217 | | 37,552 | | 37,324 | | 38,284 | | 162,377 | |
| | | | | | | | | | | |
Operating income | | $ | 38,761 | | $ | 57,939 | | $ | 48,156 | | $ | 57,163 | | $ | 202,019 | |
Equitable Resources, Inc. Year 2007 Business Segment Financial And Operational Data
EQUITABLE MIDSTREAM
OPERATIONAL AND FINANCIAL REPORT
| | Three Months Ended | | Three Months Ended | | Three Months Ended | | Three Months Ended | | Twelve Months Ended | |
| | March 31, 2007 | | June 30, 2007 | | September 30, 2007 | | December 31, 2007 | | December 31, 2007 | |
| | | | | | | | | | | |
OPERATIONAL DATA | | | | | | | | | | | |
| | | | | | | | | | | |
Gathering and processing: | | | | | | | | | | | |
Gathered volumes (MMBtu) | | 41,293 | | 36,502 | | 32,757 | | 32,786 | | 143,338 | |
Average gathering fee ($/MBtu) | | $ | 0.84 | | $ | 0.83 | | $ | 0.83 | | $ | 0.85 | | $ | 0.84 | |
Gathering and compression expense ($/MBtu) | | $ | 0.33 | | $ | 0.35 | | $ | 0.37 | | $ | 0.37 | | $ | 0.35 | |
NGLs Sold (Mgal) | | 18,630 | | 17,753 | | 18,091 | | 17,956 | | 72,430 | |
Average NGL sales price ($/gal) | | $ | 0.92 | | $ | 1.04 | | $ | 1.04 | | $ | 1.30 | | $ | 1.07 | |
| | | | | | | | | | | |
Transmission and storage: | | | | | | | | | | | |
Transmission pipeline throughput (MMBtu) | | 12,288 | | 14,914 | | 12,781 | | 13,531 | | 53,514 | |
| | | | | | | | | | | |
Net operating revenues (thousands): | | | | | | | | | | | |
Gathering and processing | | $ | 39,749 | | $ | 35,255 | | $ | 34,728 | | $ | 39,858 | | $ | 149,590 | |
Transmission and storage | | 43,365 | | 14,242 | | 16,881 | | 37,837 | | 112,325 | |
Total net operating revenues | | $ | 83,114 | | $ | 49,497 | | $ | 51,609 | | $ | 77,695 | | $ | 261,915 | |
| | | | | | | | | | | |
Net operating income (thousands): | | | | | | | | | | | |
Gathering and processing | | $ | 16,758 | | $ | 14,248 | | $ | 14,801 | | $ | 19,196 | | $ | 65,003 | |
Transmission and storage | | 34,883 | | 6,414 | | 8,672 | | 25,460 | | 75,429 | |
Total net operating income | | $ | 51,641 | | $ | 20,662 | | $ | 23,473 | | $ | 44,656 | | $ | 140,432 | |
| | | | | | | | | | | |
Depreciation and amortization (thousands): | | | | | | | | | | | |
Gathering and processing | | $ | 5,060 | | $ | 4,787 | | $ | 4,434 | | $ | 4,949 | | $ | 19,230 | |
Transmission and storage | | 1,815 | | 1,751 | | 1,786 | | 1,751 | | 7,103 | |
Total depreciation and amortization | | $ | 6,875 | | $ | 6,538 | | $ | 6,220 | | $ | 6,700 | | $ | 26,333 | |
| | | | | | | | | | | |
Capital expenditures (thousands) | | $ | 88,168 | | $ | 99,859 | | $ | 96,570 | | $ | 149,122 | | $ | 433,719 | |
| | | | | | | | | | | |
FINANCIAL DATA (Thousands) | | | | | | | | | | | |
| | | | | | | | | | | |
Total operating revenues | | $ | 170,287 | | $ | 122,482 | | $ | 122,467 | | $ | 176,372 | | $ | 591,608 | |
Purchased gas costs | | 87,173 | | 72,985 | | 70,858 | | 98,677 | | 329,693 | |
Net operating revenues | | 83,114 | | 49,497 | | 51,609 | | 77,695 | | 261,915 | |
| | | | | | | | | | | |
Operating expenses: | | | | | | | | | | | |
Operating and maintenance | | 16,887 | | 16,334 | | 15,729 | | 17,205 | | 66,155 | |
Selling, general and administrative | | 7,711 | | 5,963 | | 6,187 | | 9,134 | | 28,995 | |
Depreciation and amortization | | 6,875 | | 6,538 | | 6,220 | | 6,700 | | 26,333 | |
Total operating expenses | | 31,473 | | 28,835 | | 28,136 | | 33,039 | | 121,483 | |
| | | | | | | | | | | |
Operating income | | $ | 51,641 | | $ | 20,662 | | $ | 23,473 | | $ | 44,656 | | $ | 140,432 | |
| | | | | | | | | | | |
Other income | | $ | 763 | | $ | 1,375 | | $ | 2,090 | | $ | 3,025 | | $ | 7,253 | |
Equity in earnings of nonconsolidated investments | | $ | — | | $ | 568 | | $ | 1,289 | | $ | 791 | | $ | 2,648 | |
Equitable Resources, Inc. Year 2007 Business Segment Financial And Operational Data
EQUITABLE DISTRIBUTION
OPERATIONAL AND FINANCIAL REPORT
| | Three Months Ended | | Three Months Ended | | Three Months Ended | | Three Months Ended | | Twelve Months Ended | |
| | March 31, 2007 | | June 30, 2007 | | September 30, 2007 | | December 31, 2007 | | December 31, 2007 | |
| | | | | | | | | | | |
OPERATIONAL DATA | | | | | | | | | | | |
| | | | | | | | | | | |
Heating degree days | | 2,848 | | 617 | | 65 | | 1,802 | | 5,332 | |
| | | | | | | | | | | |
Residential sales and transportation volumes (MMcf) | | 11,950 | | 3,301 | | 1,284 | | 6,959 | | 23,494 | |
Commercial and industrial volumes (MMcf) | | 10,006 | | 5,632 | | 3,903 | | 6,430 | | 25,971 | |
Total throughput (MMcf) - Distribution | | 21,956 | | 8,933 | | 5,187 | | 13,389 | | 49,465 | |
| | | | | | | | | | | |
Net operating revenues (thousands): | | | | | | | | | | | |
Residential | | $ | 41,175 | | $ | 19,093 | | $ | 12,017 | | $ | 26,765 | | $ | 99,050 | |
Commercial & industrial | | 17,957 | | 7,553 | | 5,693 | | 11,355 | | 42,558 | |
Off-system and energy services | | 6,310 | | 4,653 | | 3,285 | | 4,773 | | 19,021 | |
Total net operating revenues | | $ | 65,442 | | $ | 31,299 | | $ | 20,995 | | $ | 42,893 | | $ | 160,629 | |
| | | | | | | | | | | |
Capital expenditures (thousands) | | $ | 11,820 | | $ | 9,143 | | $ | 10,938 | | $ | 9,783 | | $ | 41,684 | |
| | | | | | | | | | | |
FINANCIAL DATA (Thousands) | | | | | | | | | | | |
| | | | | | | | | | | |
Total operating revenues | | $ | 251,381 | | $ | 133,099 | | $ | 71,686 | | $ | 168,578 | | $ | 624,744 | |
Purchased gas costs | | 185,939 | | 101,800 | | 50,691 | | 125,685 | | 464,115 | |
Net operating revenues | | 65,442 | | 31,299 | | 20,995 | | 42,893 | | 160,629 | |
| | | | | | | | | | | |
Operating expenses: | | | | | | | | | | | |
Operating and maintenance | | 10,259 | | 9,873 | | 10,133 | | 11,348 | | 41,613 | |
Selling, general and administrative | | 16,553 | | 12,904 | | 11,224 | | 23,773 | | 64,454 | |
Depreciation and amortization | | 4,953 | | 5,087 | | 4,994 | | 4,987 | | 20,021 | |
Total operating expenses | | 31,765 | | 27,864 | | 26,351 | | 40,108 | | 126,088 | |
| | | | | | | | | | | |
Operating income | | $ | 33,677 | | $ | 3,435 | | $ | (5,356 | ) | $ | 2,785 | | $ | 34,541 | |
