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Because today's accounting systems are much more sophisticated, "the weight accorded to the costs incurred in prior years is so slight that the ending inventory cost more nearly approximates first in, first out (FIFO).
The company has determined that its operating model best approximates that of an investment company and intends to make investments into developing businesses in oil and gas related industries.
Fitch estimates that the net present value of WMB's gross contractual obligations under these arrangement currently approximates $1.
Current production approximates 15 million cubic feet of gas and 800 barrels of condensate per day.