Chesapeake Energy 1999 Annual Report Download - page 55

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CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
($ in thousands)
-45-
For the Year Ended June 30, 1997:
REVENUES:
Oil and gas sales $191,303 $ $ $1,617 $192,920
Oil and gas marketing sales -145.942 (69.770) 76 172
Total Revenues 19 1.303 145.942 (68,153) 269.092
OPERATING COSTS:
Production expenses and taxes 15,107 15,107
Oil and gas marketing expenses -143,293 (68,153) 75,140
Impairment of oil and gas properties 236,000 236,000
Oil and gas depreciation, depletion and amortization 103,264 103,264
Other depreciation and amortization 2,152 80 1,550 3,782
General and administrative 6.313 921 1,568 8.802
Total Operating Costs 362,836 144,294 3,118 (68.153) 442.095
INCOME (LOSS) FROM OPERATIONS (171.533) 1,648 (3.118) (173.003)
OTHER INCOME (EXPENSE):
Interest and other income 778 749 49,224 (39,528) 11,223
Interest expense (37,644) (10) (20.424) 39,528 (18,550)
(36.866) 739 28,800 (7,327)
INCOME (LOSS) BEFORE INCOME TAXES AND
EXTRAORDINARY ITEM (208,399) 2,387 25,682 (180,330)
INCOME TAX EXPENSE (BENEFIT) (4,129) 47 509 (3.573)
NET INCOME (LOSS) BEFORE
EXTRAORDINARY ITEM (204,270) 2,340 25,173 (176,757)
EXTRAORDINARY ITEM:
Loss on early extinguishment of debt, net of applicable
income tax (769) (5,85 I) (6,620)
NET INCOME (LOSS) $ (205 039) $2 340 $19.322 $$ (183 377)
For the Six Months Ended December 31, 1997:
REVENUES:
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Company Eliminations Consolidated
Oil and gas sales $93,384 $1,199 $$1,074 $95,657
Oil and gas marketing sales 101,689 (43,448) 58,241
Total Revenues 93.384 102.888 (42.374) 153.898
OPERATING COSTS:
Production expenses and taxes 9,905 189 -10,094
Oil and gas marketing expenses 100,601 (42,374) 58,227
Impairment of oil and gas properties 96,000 14,000 110,000
Oil and gas depreciation, depletion and amortization 59,758 650 60,408
Other depreciation and amortization 1,383 40 991 2,414
General and administrative 4.598 1,132 117 5,847
Total Operating Costs 171,644 116,612 1.108 (42,374) 246.990.
INCOME (LOSS) FROM OPERATIONS (78,260) (13,724) (1.108) (93,092)
OTHER INCOME (EXPENSE):
Interest and other income 515 192 110,751 (32,492) 78,966
Interest expense (27.48 1) (39) (22,420) 32.492 (17.448)
(26,966) 153 88.331 -61,518
INCOME (LOSS) BEFORE INCOME TAXES AND
EXTRAORDINARY ITEM (105,226) (13,571) 87,223 (31,574)
INCOME TAX EXPENSE (BENEFIT)
NET INCOME (LOSS) BEFORE
EXTRAORDINARY ITEM (105,226) (13,571) 87,223 (31,574)
EXTRAORDINARY ITEM - - - -
NET INCOME (LOSS) $ (105.226) $(13.571) $87,223 $S(31.574)
Non-
Guarantor Guarantor
Subsidiaries Subsidiaries Company Eliminations Consolidated