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The principal sources of change in the standardized measure of discounted future net cash flows are as follows: December 31, 1997

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 .............. Accretion of discount .................... Net change in income taxes ............... Changes in production rates and other ......

$415,498

Standardized measure, end of period .......

$430,110

June 30, 1997 1996 ($ In Thousands)

$ 461,411

$ 159,911

1995

$118,608

(85,563)

(177,813)

(lO2,546)

(52,727)

26,106

(99,234)

88,729

(24,807)

92,597 (7,422)

287,068 (12,831)

275,916 (11,201 )

108,644 3,406

47,703 (62,655) 25,236 43,739 (14,510) (50,619)

46,888 (199,738)

43,409 12,728 29,641 18,814 (57,382) 3,392

23,678 (21,595)

70

54,702 63,719 (8,674) $ 415,498

$ 461,411

14,126 (5,586) (3,836) $159,911

Profile for Chesapeake Energy

Transition Report 1997  

Transition Report 1997