Chesapeake Energy 1997 Annual Report Download - page 49

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
The accompanying notes are an integral part of these consolidated financial statements.
32
Year Ended June 30,
1997 1996 1995
($ in thousands, except
per share data)
REVENUES:
Oil and gas sales $ 192,920 $110,849 $ 56,983
Oil and gas marketing sales 76,172 28,428
Oil and gas service operations -6,314 8,836
Interest and other 11,223 3,831 1,524
Total Revenues 280,315 149,422 67,343
COSTS AND EXPENSES:
Production expenses and taxes 15,107 8,303 4,256
Oil and gas marketing expenses 75,140 27,452 -
Oil and gas service operations 4,895 7,747
Impairment of oil and gas properties 236,000 --
Oil and gas depreciation, depletion and amortization 103,264 50,899 25,410
Depreciation and amortization of other assets 3,782 3,157 1,765
General and administrative 8,802 4,828 3,578
Interest and other 18,550 13,679 6,627
Total Costs and Expenses 460,645 113,213 49,383
INCOME (LOSS) BEFORE INCOME TAXES AND EXTRAORDINARY
ITEM (180,330) 36,209 17,960
PROVISION (BENEFIT) FOR INCOME TAXES (3,573) 12,854 6,299
INCOME (LOSS) BEFORE EXTRAORDINARY ITEM (176,757) 23,355 11,661
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt,
net of applicable income tax of $3,804 (6,620) -
NET INCOME (LOSS) $(183,377) $ 23,355 $ 11,661
EARNINGS (LOSS) PER COMMON SHARE:
EARNINGS (LOSS) PER COMMON AND COMMON EQUIVALENT
SHARE-PRIMARY
Income (loss) before extraordinary item $(2.69) $0.40 $0.21
Extraordinary item (0.10) --
Net income (loss) $(2.79) $0.40 $0.21
EARNINGS (LOSS) PER COMMON AND COMMON EQUIVALENT
SHARE-FULLY DILUTED
Income (loss) before extraordinary item $(2.69) $0.40 $0.21
Extraordinary item (0.10) -
Net income (loss) $(2.79) $0.40 $0.21
WEIGHTED AVERAGE COMMON AND COMMON EQUIVALENT
SHARES OUTSTANDING (in 000's)
Primary 65,767 58,342 55,872
Fully-diluted 65,767 58,922 56,606