Chesapeake Energy 1998 Annual Report Download - page 73

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CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
($ in thousands)
53
For the Year Ended December 31, 1998:
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Company Eliminations Consolidated
REVENUES:
Oil and gas sales $254,541 $$$2,346 $256,887
Oil and gas marketing sales 225,195 (104,136) 121,059
Total Revenues
OPERATING COSTS: 254,541 225,195 (101,790) 377,946
Production expenses and taxes 59,497 59,497
Oil and gas marketing expenses 220,798 (101,790) 119,008
Impairment of oil and gas properties 826,000 826,000
Impairment of other assets 47,000 8,000 55,000
Oil and gas depreciation, depletion and amortization 146,644 -146,644
Other depreciation and amortization 5,204 126 2,746 8,076
General and administrative 18,081 1,766 71 19,918
Total Operating Costs 1,102,426 230,690 2,817 (101,790) 1,234,143
INCOME (LOSS) FROM OPERATIONS
OTHER INCOME (EXPENSE): (847,885) (5,495) (2,817) (856,197)
Interest and other income 649 2,259 100,886 (99,868) 3,926
Interest expense (96,214) (382) (71,521) 99,868 (68,249)
(95,565) 1,877 29,365 (64,323)
INCOME (LOSS) BEFORE INCOME TAXES AND
EXTRAORDINARy ITEM (943,450) (3,618) 26,548 (920,520)
INCOME TAX EXPENSE (BENEFIT)
NET INCOME (LOSS) BEFORE
EXTRAORDINARy ITEM
EXTRAORDINARY ITEM: (943,450) (3,618) 26,548 (920,520)
Loss on early extinguishment of debt,
net of applicable income tax
NET INCOME (LOSS) (2,164) (11,170) (13,334)
$ (945,614) $(3,618) $15,378 $$ (933,854)
For the Six Months Ended December 31, 1997:
REVENUES:
Oil and gas sales $93,384 $1,199 $ $ 1,074 $95,657
Oil and gas marketing sales 101,689 (43,448) 58,241
Total Revenues
OPERATING COSTS: 93,384 102,888 (42,374) 153,898
Production expenses and taxes
Oil and gas marketing expenses
Impairment of oil and gas properties
Oil and gas depreciation, depletion and amortization
Other depreciation and amortization
General and administrative
Total Operating Costs
INCOME (LOSS) FROM OPERATIONS
OTHER INCOME (EXPENSE):
9,905
96,000
59,758
1,383
4,598
189
100,601
14,000
650
40
1,132 991
117
(42,374) 10,094
58,227
110,000
60,408
2,414
5,847
171,644 116,612 1,108 (42,374) 246,990
(78,260) (13,724) (1,108) (93,092)
Interest and other income
Interest expense 515
(27,481) 192
(39) 110,751
(22,420) (32,492)
32,492 78,966
(17,448)
INCOME (LOSS) BEFORE INCOME TAXES AND (26,966) 153 88,331 61,518
EXTRAORDINARY ITEM
INCOME TAX EXPENSE (BENEFIT) (105,226) (13,571) 87,223 (31,574)
NET INCOME (LOSS) BEFORE
EXTRAORDINARY ITEM
EXTRAORDINARY ITEM (105,226) (13,571) 87,223 (31,574)
NET INCOME (LOSS) $ (105,226) $ (13,571) $87,223 $$(31,574)