Chesapeake Energy 2000 Annual Report Download - page 86

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The principal sources of change in the standardized measure of discounted future net cash flows are as follows:
12. Quarterly Financiai Data (unaudited)
Summarized unaudited quarterly financial data for 1999 and 2000 are as follows ($ in thousands except per
share data):
-75-
($ in thousands)
Standardized measure, beginning of period
Sales of oil and gas produced, net of production costs
Net changes in prices and production costs
Extensions and discoveries, net of production and development costs
Changes in future development costs
Development costs incurred during the period that reduced future development costs.
Revisions of previous quantity estimates
Purchase of reserves-in-place
Sales of reserves-in-place
Accretion of discount
Net change in income taxes
Changes in production rates and other
$908,898
(365,224)
2,750,651
878,128
2,167
38,112
25,818
494,483
(3,113)
99,175
(1,707,060)
453,285
$97,714
(30,021)
573,654
87,647
3,233
6,415
(113,473)
9,775
(192,825)
45,822
$ 1,006,612
(395,245)
3,324,305
965,775
5,400
44,527
(87,655)
494,483
(3,113)
108,950
(1,899,885)
499,107
$3,575,320 $ 487,941 $ 4,063,261
Standardized measure, end of period
December 31, 1999 U.S. Canada Combined
(5 in thousands)
Standardized measure, beginning of period
Sales of oil and gas produced, net of production costs
Net changes in prices and production costs
Extensions and discoveries, net of production and development costs
Changes in future development costs
Development costs incurred during the period that reduced future development costs.
Revisions of previous quantity estimates
Purchase of reserves-in-place
Sales of reserves-in-place
Accretion of discount
Net change in income taxes
Changes iii production rates and other
$507,127
(209,039)
320,123
200,787
(15,011)
14,114
88,250
66,895
(25,838)
50,415
(85,828)
(3,097)
$ 115,988
(11,844)
(55,156)
14,333
20,679
1,985
(49,034)
18,476
(920)
15,684
40,821
(13,298)
$623,115
(220,883)
264,967
215,120
5,668
16,099
39,216
85,371
(26,758)
66,099
(45,007)
(16,395)
$908,898 $97,714 $ 1,006,612
Standardized measure, end of period
December 31, 2000 U.S. Canada Combined
December 31, 1998 U.S. Canada Combined
(S in thousands)
Standardized measure, beginning of period
Sales of oil and gas produced, net of production costs
Net changes in prices and production costs
Extensions and discoveries, net of production and development costs
Changes in future development costs
Development costs incurred during the period that reduced future development costs.
Revisions of previous quantity estimates
Purchase of reserves-in-place
Sales of reserves-in-place
Accretion of discount
Net change in income taxes
Changes in production rates and other
$430,110 $$430,110
(191,246) (6,144) (197,390)
(189,817) -(189,817)
85,464 -85,464
72,279 72,279
28,191 -28,191
(64,770) (64,770)
288,694 164,821 453,515
(3,079) -(3,079)
46,651 -46,651
39,377 (40,855) (1,478)
(34,727) (1,834) (36,561)
$507,127 $ 115,988 $623,115
Standardized measure, end of period
Net sales
Quarters Ended
March 31,
1999 June 30,
1999 September 30,
1999 December 31,
1999
$ 65,677 $80,892 $102,140 $106,237
Gross profit 7,067 25,765 36,498 38,190
Net income (loss) (11,950) 8,147 18,115 18,954
Net income (loss) per share:
Basic (0.17) 0.04 0.14 0.15
Diluted (0.17) 0.04 0.13 0.14