Chesapeake Energy 1999 Annual Report Download - page 76

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June30, 1997
Transition Period Comparative Data
The following table presents certain financial information for the twelve months ended December 31, 1998 and
1997, and the six months ended December31, 1997 and 1996, respectively:
-66-
(a) Total revenue less total operating costs.
Quarterly Financial Data (unaudited)
Summarized unaudited quarterly financial data for 1999 and 1998 are as follows ($ in thousands except per share
data):
Revenues
Gross profit (loss)
Income (loss) before income taxes
Twelve Months Ended
December 31, Six Months Ended
December 31,
1998 1997 1997 1996
(unaudited)
(S in thousands, except
$ 377.946 S 302.804 per share data)
$153,898
(unaudited)
5 120186
$ (856.197) 5(309.041) 5(93 092) $42.946
and extraordinary item
income taxes
Income (loss) before extraordinary item
Extraordinary item
Net income (loss)
Earnings per share - basic
$ (920,520) $(251,l50)
(17.898) $(3 1,5 74) $39,246
14,325
(920,520)
(13.334) (233,252)
(177) (31,574) 24,921
(6,443)
$_.(93.3,.&54) $ (233.429) $(31 574) S18,478
Income (loss) before extraordinary item
Extraordinary item
Net income (loss)
Earnings per share assuming dilution
$(9.83)
(0.14) $(3.30)
-$(0.45) $0.40
(0.10)
$(9.97) $(3.3) $(0.45) $0.30
Income (loss) before extraordinary item
Extraordinary item
Net income (loss)
$(9.83)
(0.14) $(3.30)
-$(0.45) $0.38
(0.10)
$(9.97) 5(3.30) 5(0.45) $0.28
Weighted average common shares outstanding (in 000's)
Basic
Assuming dilution 94.911 70.672 70 835 61.985
94.911 70 672 70.83 5 66.300
U.S. Canada Combined
($ in thousands)
Standardized measure, beginning of period $461,411 $$ 461,411
Sales of oil and gas produced, net of production costs (177,813) (177,813)
Net changes in prices and production costs (99,234) (99,234)
Extensions and discoveries, net of production and development costs 287,068 287,068
Changes in future development costs (12,831) (12,831)
Development costs incurred during the period that reduced
future development costs 46,888 46,888
Revisions of previous quantity estimates
Purchase of reserves-in-place (199,738) (199,738)
Sales of reserves-in-place
Accretion of discount
Net change in income taxes
Changes in production rates and other
Standardized measure, end of period
54,702
63,719
(8,674)
54,702
63,719
(8,674)
$415.498 $$ 415498
Net sales
Gross profit (loss)
Net income (loss)
Net income (loss) per share:
Quarters Ended
March 31,
1999 June 30,
1999 September 30,
1999 December 31,
1999
$ 65,677
7,067
(11,950)
$ 80,892
25,765
8,147
$ 102,140
36,498
18,115
$106,237
38,190
18,954
Basic
Diluted (0.17)
(0.17) 0.04
0.04 0.14
0.13 0.15
0.14