Page 73

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS ($ In Thousands) Guarantor Subsidiaries FOR THE SIX MONTHS ENDED DECEMBER 31, 1997: REVENUES: Oil and gas sales ................................. $ Oil and gas marketing sales ........................ I nterest and other ................................ Total Revenues ..................................

93,384

Non-Guarantor Subsidiaries

Company

Eliminations

515

1,199 101,689 192

93,899

103,080

9,905

991 117 22,420

(32,492)

10,094 58,227 110,000 60,408 2,414 5,847 17,448

(74,866)

264,438

$

110,751

1,074 (43,448) (32,492)

110,751

(74,866)

$

$

COSTS AND EXPENSES: Production expenses and taxes ...................... Oil and gas marketing expenses ..................... Impairment of oil and gas properties ................ Oil and gas depreciation, depletion and amortization ... Other depreciation and amortization ................. General and administrative ........................ Interest .........................................

96,000 59,758 1,383 4,598 27,481

189 100,601 14,000 650 40 1,132 39

Total Costs & Expenses ...........................

199,125

116,651

23,528

INCOME (LOSS) BEFORE INCOME TAXES AND EXTRAORDINARY ITEM ............... INCOME TAX EXPENSE (BENEFIT) ...........

(105,226)

(13,571)

87,223

NET INCOME (LOSS) BEFORE EXTRAORDINARY ITEM .................... $(105,226)

$(13,571)

$ 87,223

$

$

$

$

FOR THE YEAR ENDED JUNE 30, 1997: REVENUES: Oil and gas sales ................................. $ 191,303 Oil and gas marketing sales ........................ 778 Interest and other ................................ Total Revenues ..................................

Consolidated

145,942 749

--146,691

192,081

(42,374)

$

95,657 58,241 78,966 232,864

(31,574)

$ (31,574)

49,224

1,617 (69,770) (39,528 )

$ 192,920 76,172 11,223

49,224

(107,681 )

280,315

COSTS AND EXPENSES: Production expenses and taxes ...................... Oil and gas marketing expenses ..................... Impairment of oil and gas properties ................ Oil and gas depreciation, depletion amortization ....... Other depreciation and amortization ................. General and administrative ........................ Interest .........................................

236,000 103,264 2,152 6,313 37,644

80 921 10

1,550 1,568 20,424

(39,528)

15,107 75,140 236,000 103,264 3,782 8,802 18,550

Total Costs & Expenses ...........................

400,480

144,304

23,542

(107,681 )

460,645

INCOME (LOSS) BEFORE INCOME TAXES AND EXTRAORDINARY ITEM ............ INCOME TAX EXPENSE (BENEFIT) ...........

(208,399) (4,129)

2,387 47

25,682 509

( 180,330) (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)

15,107 143,293

NET INCOME (LOSS) .......................... $ (205,039)

53

(68,153)

~)

$

2,340

$ 19,322

(6,620) $

$( 183,377)

Profile for Chesapeake Energy

Transition Report 1997  

Transition Report 1997