Chesapeake Energy 1994 Annual Report Download - page 41

NOTE 3. NOTES PAYABLE AND LONG-TERM DEBT
Notes payable and long-term debt consist of the following:
JUNE 30.
1994 1993
($ IN THOUSANDS)
Senior Notes, interest at 12% per annum payable semi-annually on March 1 and
September 1, mandatory redemption of $11,875,000 on each of March 1, 1998,
1999 and 2000, with remaining principal due 2001 $47,500 $
Discount on Senior Notes (2,900)
Note Payable to an individual and SW. Energy, interest at 7% per annum,
collateralized by producing oil and gas properties, $250,000 payable in July 1994
and balance payable in 24 equal, quarterly installments commencing in June 1994 1,216
Term note payable to Union Bank, interest of 7.5% per annum, collateralized by
producing oil and gas properties, payable in monthly installments through
September 1994. Note was paid in full March 31, 1994 10,21
Term note payable to Union Bank, interest of 8.75% per annum, collateralized by
producing oil and gas properties 10
Note payable to Belco Oil & Gas Corp., interest at 9% per annum, collateralized
by non-producing leasehold, interest is due in quarterly installments from April
1993 through January 1998. Note was paid in full March 31, 1994 2,407
Note payable to a vendor, interest at 1% per annum, collateralized by oil and gas
tubulars, payments are due 60 days from shipment of the tubulars 5,952 2,498
Note payable to a bank, interest at 7.75% per annum, collateralized by office
buildings, payments due in monthly installments through May 1998 751 777
Notes payable to vendors participating in the vendor financing programs, interest at
7% per annum, collateralized by producing oil and gas properties, payable in
monthly installments based on the production from certain oil and gas properties.
Notes were paid in full in April 1994 1,620
Note payable to a vendor for oil field equipment, annual interest at 10% through
January 1994, and 18% thereafter, payments due in monthly installments of
principal plus interest. Note was paid in full in April 1994 2,084
Notes payable to various entities to acquire oil service equipment, interest varies
from 6.5% to 18.4% per annum, collateralized by equipment, payments due in
monthly installments through December 2000 2,357 2,082
Notes payable to various vendors to refinance trade accounts payable, interest
varies from 0% to 12% per annum. 116
Other, secured 482 68
Other, unsecured 86
Total notes payable and long-term debt 55,454 21,863
Less Current maturities (7,576) (7,812
Notes payable and long-term debt, net of current maturities $47,878 $14,051
CHESAPEAKE ENERGY CORPORATION 39