Chesapeake Energy 1994 Annual Report Download - page 27

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CONSOLIDATED BALANCE SHEETS
CHESAPEAKE ENERGY CORPORATION 25
JUNE 30,
1994 1993
ASSETS )$ IN THOUSANDS)
Current assets:
Cash and cash equivalents $16,225 $4,851
Accounts receivable:
Oil and gas sales 3,427 901
Joint interest and other, net of allowance for doubtful accounts of
$350,000 and $584,000 14,020 9,086
Related parties 1,671 1,580
Inventory 7,162 3,404
Other 1,274 548
Total current assets 43,779 20,370
Property and Equipment:
Oil and gas properties, at cost based on full cost accounting:
Evaluated oil and gas properties 83,170 56,181
Unevaluated properties 3,729 2,411
Less accumulated depreciation and amortization (16,417) (8,276)
70,482 50,316
Service properties, equipment, and other 10,697 9,152
Less accumulated depreciation and amortization (2,732) (2,141)
78,447 57,327
Other assets 3,464 1,010
Total assets $ 125,690 $ 78,707
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Notes payable and current maturities of long-term debt $7,576 $7,812
Accounts payable 17,460 9,663
Accrued liabilities and other 4,162 2,158
Revenues and royalties due others 12,074 10,506
Income taxes payable 116 225
Total current liabilities 41,388 30,364
Long-term debt 47,878 14,051
Revenues and royalties due others 2,951 1,897
Deferred income taxes 2,213 963
Contingencies and commitments (Note 4)
Stockholders' equity:
Preferred stock, $01 par value, 1,1 53,846 shares authorized; 0 and 576,923
shares issued and outstanding at June 30, 1994, and 1993, respectively 6
Common stock, $01 par value, 20,000,000 shares authorized; 5,108,000 shares
issued and outstanding at June 30, 1994, and June 30, 1993 51 51
Common stock warrants, exercise price of $.Ol per share for 486,875 shares
of common stock, issued and outstanding at June 30, 1994 5
Paid-in capital 28,243 32,704
Accumulated earnings (deficit) 2,961 (1,329)
Total stockholders' equity 31,260 31,432
Total liabilities and stockholders' equity $ 125,690 $ 78,707
The accompanying notes are an integral part of these consolidated financial statements.