Chesapeake Energy 2000 Annual Report Download - page 54

Download and view the complete annual report

Please find page 54 of the 2000 Chesapeake Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 122

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122

CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
-43-
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
In December 1997, we declared a dividend of $0.02 per common share, or$1,486,000, which was paid in
January 1998.
Proceeds from the issuance of $500 million of 9.625% senior notes in April 1998 are net of $11.7 million
in offering fees and expenses which were deducted from the actual cash received.
In 1999, the chief executive officer and chief operating officer of Chesapeake tendered to Chesapeake
Energy Marketing, Inc. 2,320,107 shares of Chesapeake common stock in full satisfaction of two notes payable
to CEMI with a combined outstanding balance of $7.6 million.
During 1999, we issued a $2.2 million note payable as consideration for the acquisition ofcertain oil and
gas properties.
During 2000, Chesapeake engaged in unsolicited transactions in which a total of 43.4 million shares of
Chesapeake common stock, plus a cash payment of $8.3 million, were exchanged for 3,972,363 shares of
Chesapeake preferred stock.
During 2000, Chesapeake Energy Marketing, Inc. purchased 99.8% of Gothic Energy Corporation's $104
million 14.125% Series B senior secured discount notes for total consideration of $80.8 million, comprised of
$17.2 million in cash and $63.6 million of Chesapeake common stock (8,875,775 shares valued at $7.16 per
share), as adjusted for make-whole provisions. Through the make-whole provisions, Chesapeake Energy
Marketing, Inc. received $6.1 million in cash and $7.2 million of Chesapeake common stock (982,562 shares).
In 2000, Chesapeake purchased $31.6 million of the $235 million of 11.125% senior secured notes issued
by Gothic Production Corporation for total consideration of $34.8 million comprised of $11.5 million in cash
and $23.3 million of Chesapeake common stock (3,694,939 shares valued at $6.30 per share), as adjusted for
make-whole provisions. Through the make-whole provisions, Chesapeake received $1.0 million in cash.
The accompanying notes are an integral part of these consolidated financial statements.
CONSOLIDATED STATEMENTS OF CASH FLOWS - (Continued)
Years Ended December 31,
1998 1999 2000
($ in thousands)
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
CASH PAYMENTS FOR:
Interest, net of capitalized interest $59,881 $80,684 $85,401
Income taxes $$$
DETAILS OF ACQUISITION OF DLB OIL & GAS, INC.:
Fair value of assets acquired $ 136,500 $$
Cash consideration $ (17,500) $$
Stock issued (5,000,000 shares) $ (30,000) $$
Debt assumed $ (85,000) $$
Acquisition costs paid $(4,000) $-$
DETAILS OF ACQUISITION OF HUGOTON ENERGY CORPORATION:
Fair value of assets acquired $343,371 $$
Stock options granted $(2,050) $$
Stock issued (25,790,146 shares) $(206,321) $$
Debt assumed $(120,000) $-$
Acquisition costs paid $ (15,000) $$