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CONSOLIDATED BALANCE SHEETS JUNE 30,

1994

ASSETS

Current assets: Cash and cash equivalents Accounts receivable: Oil and gas sales Joint interest and other, net of allowance for doubtful accounts of

)$ IN THOUSANDS)

$ 16,225

$350,000 and $584,000 Related parties Inventory

Other Total current assets

Property and Equipment: Oil and gas properties, at cost based on full cost accounting: Evaluated oil and gas properties Unevaluated properties Less accumulated depreciation and amortization Service properties, equipment, and other Less accumulated depreciation and amortization Other assets Total assets

1993

$

4,851

3,427

901

14,020 1,671 7,162 1,274

9,086

43,779

20,370

83,170 3,729 (16,417) 70,482 10,697 (2,732) 78,447 3,464 $ 125,690

1,580 3,404 548

56,181 2,411

(8,276) 50,316 9,152 (2,141) 57,327 1,010

$ 78,707

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities: Notes payable and current maturities of long-term debt Accounts payable Accrued liabilities and other Revenues and royalties due others Income taxes payable

Total current liabilities

$

7,576 17,460 4,162 12,074 116

$

7,812 9,663 2,158 10,506 225

41,388 47,878

30,364

Revenues and royalties due others

2,951

1,897

Deferred income taxes

2,213

963

Long-term debt

Contingencies and commitments (Note 4) Stockholders' equity: Preferred stock, $01 par value, 1,1 53,846 shares authorized; 0 and 576,923 shares issued and outstanding at June 30, 1994, and 1993, respectively Common stock, $01 par value, 20,000,000 shares authorized; 5,108,000 shares issued and outstanding at June 30, 1994, and June 30, 1993 Common stock warrants, exercise price of $.Ol per share for 486,875 shares of common stock, issued and outstanding at June 30, 1994 Paid-in capital Accumulated earnings (deficit) Total stockholders' equity Total liabilities and stockholders' equity

14,051

6 51

51

5

28,243 2,961

32,704 (1,329)

31,260

31,432

$ 125,690

$ 78,707

The accompanying notes are an integral part of these consolidated financial statements.

CHESAPEAKE ENERGY CORPORATION

25

Profile for Chesapeake Energy

Annual Report 1994  

Annual Report 1994