Chesapeake Energy 1998 Annual Report Download - page 87

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Year Ended December 31, 1998
Results ofOperationsfroin Oil and Gas Producing Activities (unaudited)
The Company's results of operations from oil and gas producing activities are presented below for 1998, the six
months ended December 31, 1997 and for the years ended June 30, 1997 and 1996, respectively. The following
table includes revenues and expenses associated directly with the Company's oil and gas producing activities. It
does not include any allocation of the Company's interest costs and, therefore, is not necessarily indicative of the
contribution to consolidated net operating results of the Company's oil and gas operations.
67
Year Ended June 30, 1997
Year Ended June 30, 1996
U.S. Canada Combined
(S in thousands)
Development costs $145,953 $4,584 $150,537
Exploration costs 63,245 5,427 68,672
Acquisition costs:
Unproved properties 23,834 2,535 26,369
Proved properties 662,104 78,176 740,280
Sales of oil and gas properties (15,712) (15,712)
Capitalized internal costs 5,262 5,262
Proceeds from sale of leasehold, equipment and other (296) (296)
Total $884,390 $90,722 $ 975,112
Six Months Ended December 31, 1997 U.S. Canada Combined
(5 in thousands)
Development costs $120,628 $S 120,628
Exploration costs 40,534 40,534
Acquisition costs:
Unproved properties 25,516 25,516
Proved properties 39,245 39,245
Sales of oil and gas properties
Capitalized internal costs 2,435 2,435
Proceeds from sale of leasehold, equipment and other (1,861) (1,861)
Total $226,497 $$ 226,497
U.S. Canada Combined
($ in thousands)
Development costs $138,188 $$ 138,188
Exploration costs 39,410 39,410
Acquisition costs:
Unproved properties 138,188 138,188
Proved properties 24,560 24,560
Sales of oil and gas properties
Capitalized intemal costs 1,699 1,699
Proceeds from sale of leasehold, equipment and other (6,167) (6,167)
Total $335,878 $$ 335,878
U.S. Canada Combined
(S in thousands)
Development costs $187,736 $$ 187,736
Exploration costs 136,473 136,473
Acquisition costs:
Unproved properties 140,348 140,348
Proved properties -
Sales of oil and gas properties
Capitalized intemal costs 3,905 3,905
Proceeds from sale of leasehold, equipment and other (3,095) (3,095)
Total $465,367 $$ 465,367