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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES CONSOUDATED STATEMENTS OF OPERATIONS Six Months Ended Year Ended June 30, December 31, 1997 1996 1995 1997 ($ in thousands, except per share data)

REVENUES: Oil and gas sales .............................. . Oil and gas marketing sales ..................... . Oil and gas service operations ................... . Interest and other ............................. . Total Revenues ......................... . COSTS AND EXPENSES: Production expenses and taxes .................. . Oil and gas marketing expenses ................. . Oil and gas service operations ................... . Impairment of oil and gas properties ............. . Oil and gas depreciation, depletion and amortization ................................ . Depreciation and amortization of other assets ...... . General and administrative ..................... . Interest and other ......... ~ ................... . Total Costs and Expenses ................ . INCOME (LOSS) BEFORE INCOME TAXES AND EXTRAORDINARY ITEM .............. . PROVISION (BENEFIT) FOR INCOME TAXES .. INCOME (LOSS) BEFORE EXTRAORDINARY ITEM ....................................... . EXTRAORDINARY ITEM: Loss on early extinguishment of debt, net of applicable income tax of $3,804 ............... . NET INCOME (LOSS) ........................ .

$110,849 28,428 6,314 3,831 149,422

$56,983

8,303 27,452 4,895

4,256

103,264 3,782 8,802 18,550 460,645

50,899 3,157 4,828 13,679 113,213

25,410 1,765 3,578 6,627 49,383

(31,574)

(180,330) (3,573)

36,209 12,854

17,960 6,299

(31,574)

(176,757)

23,355

11,661

(6,620) $(183,377) $ 23,355

$11,661

$ 95,657 58,241

$ 192,920 76,172

78,966 232,864

11,223 280,315

10,094 58,227

15,107 75,140

110,000

236,000

60,408 2,414 5,847 17,448 264,438

$(31,574)

EARNINGS (LOSS) PER COMMON SHARE: EARNINGS (LOSS) PER COMMON SHAREBASIC Income (loss) before extraordinary item ........ . Extraordinary item .......................... . Net income (loss) .......................... .

$

(0.45)

$

$

(0.45)

$

EARNINGS (LOSS) PER COMMON SHAREASSUMING DILUTION Income (loss) before extraordinary item ........ . Extraordinary item .......................... . Net income (loss) .......................... .

$

(0.45 )

$

$

(0.45)

$

8,836 1,524 67,343

7,747

(2.69) $ (0.10) (2.79) $

0.43

$ 0.22

0.43

$ 0.22

(2.69) $ (0.10) (2.79) $

0.40

$

0.21

0.40

$

0.21

WEIGHTED AVERAGE COMMON AND COMMON EQUIVALENT SHARES OUTSTANDING (IN OOO'S) Basic ...................................... .

70,835

65,767

54,564

52,624

Assuming Dilution .......................... .

70,835

65,767

58,342

55,872

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

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Profile for Chesapeake Energy

Transition Report 1997  

Transition Report 1997