Chesapeake Energy 2000 Annual Report Download - page 96

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GOTHIC ENERGY CORPORATION AND SUBSIDIARY
CONSOUDATED STATEMENT OF OPERATIONS
See accompanying notes to consolidated financial statements.
-85-
REVENUES:
Years Ended December 31,
1998 1999 2000
($ in thousands, except
per share data)
Natural gas and oil sales $50,714 $52,967 $ 83,065
Well operations 2,319 2,657 2,680
Total revenues 53,033 55,624 85,745
COSTS AND EXPENSES:
Lease operating expense 12,129 9,605 11,800
Depletion, depreciation and amortization 24,001 20,969 22,621
General and administrative expense 3,823 4,675 4,551
Investment banking and related fees 638 1,212
Provision for impairment of natural gas and oil properties 76,000
Operating income (loss) (62,920) 19,737 45,561
Interest expense and amortization of debt issuance costs (35,438) (37,988) (39,759)
Interest and other income 433 942 280
Loss on sale of investments (305)
INCOME (LOSS) BEFORE EXTRAORDINARY ITEM (98,230) (17,309) 6,082
LOSS ON EARLY EXTINGUISHMENT OF DEBT 31,459
NET INCOME (LOSS) (129,689) (17,309) 6,082
PREFERRED DIVIDEND 5,599 6,820 7,678
PREFERRED DIVIDEND - AMORTIZATION OF PREFERRED DISCOUNT 5,095 1,847 1,849
NET LOSS AVAILABLE FOR COMMON SHARES $(140,383) $(25,976) $ (3,445)
LOSS PER COMMON SHARE BEFORE EXTRAORDINARY ITEM, BASIC AND
DILUTED $(6.70) $(1.51) $(0.17)
LOSS ON EARLY EXTINGUISHMENT OF DEBT (1.93)
NET LOSS PER COMMON SHARE, BASIC AND DILUTED $(8.63) $(1.51) $(0.17)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 16,262 17,219 20,637