Chesapeake Energy 2000 Annual Report Download - page 81

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amortization base of the full-cost pooi. We will continue to evaluate our unevaluated properties; however, the timing
of the ultimate evaluation and disposition of the properties has not been determined
Costs Incurred in Oil and Gas Acquisition, Exploration and Development
Costs incurred in oil and gas property acquisition, exploration and development activities which have been
capitalized are summarized as follows:
-70-
Results of Operations from Oil and Gas Producing Activities (unaudited)
Chesapeake's results of operations from oil and gas producing activities are presented below for 1998, 1999 and
2000. The following table includes revenues and expenses associated directly with our oil and gas producing
activities. It does not include any allocation of our interest costs and, therefore, is not necessarily indicative of the
contribution to consolidated net operating results of our oil and gas operations.
Year Ended December 31, 1998
U.S. Canada Combined
($ in thousands)
Development and leasehold costs $145,657 $ 4,584 $150,241
Exploration costs 63,245 5,427 68,672
Acquisition costs:
Proved 662,104 78,176 740,280
Unproved 23,834 2,535 26,369
Sales of oil and gas properties (15,712) (15,712)
Capitalized internal costs 5,262 -5,262
Total $884,390 $90,722 $975,112
Year Ended December 31, 1999
U.S. Canada Combined
($ in thousands)
Development and leasehold costs $ 92,582 $31,536 $124,118
Exploration costs 23,651 42 23,693
Acquisition costs:
Proved 47,993 4,100 52,093
Unproved 2,747 -2,747
Sales of oil and gas properties (44,822) (813) (45,635)
Capitalized internal costs 2,710 -2,710
Total $124,861 $34,865 $159,726
Year Ended December 31, 2000
U.S. Canada Combined
($ in thousands)
Development and leasehold costs $138,285 $13,559 $151,844
Exploration costs 24,648 10 24,658
Acquisition costs:
Proved 75,285 75,285
Unproved 3,625 3,625
Sales of oil and gas properties (1,529) (1,529)
Capitalized internal costs 6,958 6,958
Total $247,272 $13,569 $260,841