Chesapeake Energy 1996 Annual Report Download - page 56

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CHESAPEAKE ENERGY CORPORATION
3. NOTES PAYABLE AND LONG-TERM DEBT
Notes payable and long-term debt consist of the following:
June 30,
($ in thousands) 1996 1995
Term note payable to Union Bank collateralized by CGDC, not guaranteed by
the company, variable interest at Union Bank's base rate (8.25% per annum
at June 30, 1996), or at Eurodollar rate + 1.875% collateralized by CGDC's
producing oil and gas properties, payable in monthly installments through
November 2002
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
9.125% Senior Notes (see Note 2) $ 120,000 $
Discount on 9.125% Senior Notes (81)
10.5% Senior Notes (see Note 2) 90,000 90,000
12% Senior Notes (see Note 2) 47,500 47,500
Discount on 12% Senior Notes (1,772) (2,333)
12,900 10,800
Term note payable to Union Bank, variable interest at Union Bank's base rate or
at Eurodollar rate + an incremental rate (8.2 5% per annum at June 30, 1996),
collateralized by CEX's producing oil and gas properties and guaranteed
by the company 10
Note payable to a vendor, collateralized by oil and gas tubulars, payments due
60 days from shipment of the tubulars 3,156 6,513
Note payable to a bank, variable interest at a referenced base rate + 1.75%
(10% per annum at June 30, 1996), collateralized by office buildings,
payments due in monthly installments through May 1998 680 686
Notes payable to various entities to acquire oil service equipment, interest varies
from 7% to 11% per annum, collateralized by equipment, payments due in
monthly installments through December 2000 1,212 2,162
Other collateralized 1,469 230
Other, unsecured 122 179
Total notes payable and long-term debt 275,186 155,747
Less current maturities (6,755) (9,993)
Notes payable and long-term debt, net of current maturities $ 268,431 $ 145,754