-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Jwxi21Ib8MsBcfmDcfb1gxZofylXN+TzwS1MvRGCUUHkqcpWrJ0q+RR2u41tReTv zUtKeIfyeE2Kchv78jAHNg== 0000007332-96-000002.txt : 19960229 0000007332-96-000002.hdr.sgml : 19960229 ACCESSION NUMBER: 0000007332-96-000002 CONFORMED SUBMISSION TYPE: U-3A-2 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19951231 FILED AS OF DATE: 19960228 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHWESTERN ENERGY CO CENTRAL INDEX KEY: 0000007332 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION & DISTRIBUTION [4923] IRS NUMBER: 710205415 STATE OF INCORPORATION: AR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: U-3A-2 SEC ACT: 1935 Act SEC FILE NUMBER: 069-00248 FILM NUMBER: 96527277 BUSINESS ADDRESS: STREET 1: 1083 SAIN ST STREET 2: P O BOX 1408 CITY: FAYETTEVILLE STATE: AR ZIP: 72702-1408 BUSINESS PHONE: 5015211141 FORMER COMPANY: FORMER CONFORMED NAME: ARKANSAS WESTERN GAS CO DATE OF NAME CHANGE: 19790917 U-3A-2 1 FORM U-3A-2 File No. 69-248 SECURITIES & EXCHANGE COMMISSION Washington, D.C. Statement by Holding Company Claiming Exemption Under Rule U-3A-2 from the Provisions of the Public Utility Holding Company Act of 1935 SOUTHWESTERN ENERGY COMPANY hereby files with the Securities & Exchange Commission, pursuant to Rule U-3A-2, its statement claiming exemption as a holding company from the provisions of the Public Utility Holding Company Act of 1935. In support of such claim for exemption, the following information is submitted: 1. Southwestern Energy Company, an Arkansas corporation, is located at 1083 Sain Street, Fayetteville, Arkansas (P. O. Box 1408, Fayetteville, Arkansas 72702-1408). Southwestern Energy Company is a holding company with six wholly owned subsidiaries. The wholly owned subsidiaries of the holding company are Arkansas Western Gas Company, a gas utility; SEECO, Inc., an Arkansas based gas exploration and production company; Southwestern Energy Production Company (formerly Arkansas Western Production Company), an oil and gas exploration and production company with offices in Oklahoma, Texas and Arkansas; A. W. Realty Company, an Arkansas real estate company which holds real estate interests; Southwestern Energy Pipeline Company, a corporation that owns an interest in a partnership that operates an intrastate natural gas pipeline in Arkansas; and Arkansas Western Pipeline Company, a corporation that operates an 8-mile interstate pipeline in northeast Arkansas and southeast Missouri. Arkansas Gas Gathering Company is a wholly owned subsidiary of SEECO, Inc., and is currently inactive. The main location of Arkansas Western Gas Company is 1001 Sain Street, Fayetteville, Arkansas 72701. SEECO, Inc., Arkansas Gas Gathering Company, A. W. Realty Company, Southwestern Energy Pipeline Company and Arkansas Western Pipeline Company occupy the same location as that of Claimant. The main locations of Southwestern Energy Production Company are 5151 San Felipe, Suite 700, Houston, Texas 77056-3608, and 5600 N. May Ave., Suite 200, Oklahoma City, Oklahoma 73112-3979. All subsidiaries are Arkansas corporations with Southwestern Energy Production Company being authorized to do business in Oklahoma, Texas, Wyoming, Louisiana, North Dakota, South Dakota, Kansas, New Mexico, Mississippi and Nebraska. SEECO, Inc., has authority to operate only in Arkansas. Arkansas Western Gas Company and Arkansas Western Pipeline Company are also authorized to do business in Missouri and Southwestern Energy Pipeline Company is also authorized to do business in Oklahoma. 2. Claimant, Southwestern Energy Company, is the parent company and owns beneficially and of record 100% of the issued and outstanding shares of stock of its six subsidiaries. Arkansas Western Gas Company (AWG), Claimant's only public utility subsidiary, operates 6,233 miles of pipeline. This system includes - 1 - in Arkansas, a gathering and storage system with 434 miles of pipeline, 917 miles of transmission pipeline and 3,354 miles of distribution pipeline. Additionally the system includes, in Missouri, 431 miles of transmission pipeline and 1,097 miles of distribution pipeline. AWG's northwest Arkansas gas utility system gathers its gas supply from the Arkoma Basin where it also provides distribution service to communities in that area, including the towns of Ozark and Clarksville. AWG's transmission and distribution lines extend north and supply communities in the northwest part of the state, including the towns of Fayetteville, Springdale and Rogers. AWG's service area also extends to the east to the Harrison and Mountain Home areas. This eastern section of the AWG system receives a portion of its gas supply from a lateral line off of the NOARK Pipeline System (NOARK) as discussed below. Through its division, Associated Natural Gas Company (Associated), AWG provides distribution of natural gas to communities in northeast Arkansas and parts of Missouri. Major communities served in northeast Arkansas include Blytheville, Piggott and Osceola. The Associated distribution system also serves the "bootheel" area in southeast Missouri, including the communities of Sikeston, New Madrid and Caruthersville, and extends north to the Jackson area. In addition, Associated provides service to Butler, Missouri, near the state's western border, and Kirksville, Missouri, near the state's northern border, through connections off of interstate pipelines in those areas. Southwestern Energy Pipeline Company owns a 47.93% general partnership interest in NOARK, a 258-mile intrastate pipeline that ties the Claimant's gathering and transmission pipeline systems in northwest Arkansas to its distribution systems in northeast Arkansas and southeast Missouri. NOARK starts near Fort Smith, at the Fort Chaffee military reservation, and extends east through the Arkoma Basin and across northern Arkansas. A lateral from NOARK extends north and connects to AWG's distribution line in the Mountain Home area. NOARK crosses three interstate pipelines in northeast Arkansas and ends at an interconnection with Arkansas Western Pipeline Company's 8-mile interstate pipeline at the Arkansas/Missouri border. This pipeline transports gas from NOARK to Associated's distribution system. 3. Arkansas Western Gas Company made gas sales for the 12 months ended December 31, 1995, as follows: (a) Natural gas distributed at retail: Average Utility Sales Consumers Mcf Sales Residential 144,828 12,050,055 $ 59,522,563 Commercial 19,502 7,597,682 31,018,479 Industrial 342 7,749,527 22,466,121 Total 164,672 27,397,264 $113,007,163 - 2 - (b) There were 7,571,350 Mcf of natural gas distributed at retail outside the state of Arkansas by the public utility subsidiary. (c) There were 2,379,835 Mcf of natural gas sold to industrial consumers outside the state or at the state line by the public utility subsidiary. (d) There were 4,081,611 Mcf of natural gas purchased outside the state or at the state line by the public utility subsidiary. 4. The Claimant holds no direct or indirect interest in an EWG or a foreign utility company. EXHIBIT A Consolidating Statements of Income and Surplus along with Consolidating Balance Sheets for the year ended December 31, 1995. EXHIBIT B Financial Data Schedule for the year ended December 31, 1995. EXHIBIT C The Claimant holds no direct or indirect interest in an EWG or a foreign utility company. APPENDIX A map of the Company's transmission and distribution system has been omitted from the electronic filing. A narrative description of the system is provided in item 2 above. The above named Claimant has caused this statement to be duly executed on its behalf by its authorized officer on this 27th day of February, 1996. SOUTHWESTERN ENERGY COMPANY By: /s/ GREGORY D. KERLEY -------------------------- Gregory D. Kerley Vice President - Treasurer and Secretary ATTEST: /s/ JEFFREY L. DANGEAU - ------------------------- Jeffrey L. Dangeau Assistant Secretary Notices and correspondence concerning this statement should be addressed to: Gregory D. Kerley, Vice President - Treasurer and Secretary Southwestern Energy Company P. O. Box 1408 Fayetteville, Arkansas 72702-1408 - 3 - SOUTHWESTERN ENERGY COMPANY AND SUBSIDIARIES CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 1995 (in thousands)
Southwestern Southwestern Southwestern Arkansas Energy A. W. Energy Energy Western Gas Production Realty Pipeline Company Company SEECO, Inc. Company Company Company ------------ ----------- ------------ ------------ --------- ---------- Operating Revenues: Gas sales $ - $ 113,007 $ 43,443 $ 15,601 $ - $ - Oil sales - - - 3,924 - - Gas transportation - 4,102 - - - - Other - 2,343 317 - 256 318 ------------ ------------ ------------ ------------ --------- ---------- - 119,452 43,760 19,525 256 318 ------------ ------------ ------------ ------------ --------- ---------- Operating Costs and Expenses: Purchased gas costs - 67,326 - - - - Operating and general - 33,135 4,103 8,112 224 217 Depreciation, depletion and amortization 193 5,239 10,692 18,916 61 - Taxes, other than income taxes 290 2,862 175 1,003 3 - ------------ ------------ ------------ ------------ --------- ---------- 483 108,562 14,970 28,031 288 217 ------------ ------------ ------------ ------------ --------- ---------- Operating income (483) 10,890 28,790 (8,506) (32) 101 ------------ ------------ ------------ ------------ --------- ---------- Interest Expense: Interest on long-term debt 12,984 - - - - - Intercompany interest (8,068) 4,228 1,558 1,877 157 61 Other interest charges 192 446 - - - 1 Interest capitalized - (152) (226) (2,078) - - ------------ ------------ ------------ ------------ --------- ---------- 5,108 4,522 1,332 (201) 157 62 ------------ ------------ ------------ ------------ --------- ---------- Other Income (Expense) 10,739 68 (700) - 45 (694) ------------ ------------ ------------ ------------ --------- ---------- Income before provision for income taxes and extraordinary item 5,148 6,436 26,758 (8,305) (144) (655) Provision (Benefit) for Income Taxes (2,088) 2,411 10,397 (3,165) (57) (261) ------------ ------------ ------------ ------------ --------- ---------- Income (loss) before extraordinary item 7,236 4,025 16,361 (5,140) (87) (394) Extraordinary Loss Due to Early Retirement of Debt (Net of Tax) - - (124) (137) (14) (4) ------------ ------------ ------------ ------------ --------- ---------- Net Income (Loss) $ 7,236 $ 4,025 $ 16,237 $ (5,277) $ (101) $ (398) ============ ============ ============ ============ ========= ========== - 4 - Arkansas Western Pipeline Company Eliminations Consolidated ---------- -------------- ----------- Operating Revenues: Gas sales $ - $ (29,596) (b) $ 142,455 Oil sales - - 3,924 Gas transportation 403 459 (c) 4,964 Other - (1,466) (c) 1,768 ---------- -------------- ----------- 403 (30,603) 153,111 ---------- -------------- ----------- Operating Costs and Expenses: Purchased gas costs - (30,193) (b)(c) 37,133 Operating and general 33 (1,388) (c) 44,436 Depreciation, depletion and amortization 98 793 (c) 35,992 Taxes, other than income taxes 29 - 4,362 ---------- -------------- ----------- 160 (30,788) 121,923 ---------- -------------- ----------- Operating income 243 185 31,188 ---------- -------------- ----------- Interest Expense: Interest on long-term debt - - 12,984 Intercompany interest 187 - - Other interest charges - - 639 Interest capitalized - - (2,456) ---------- -------------- ----------- 187 - 11,167 ---------- -------------- ----------- Other Income (Expense) - (10,685) (c)(d) (1,227) ---------- -------------- ----------- Income before provision for income taxes and extraordinary item 56 (10,500) 18,794 Provision (Benefit) for Income Taxes 22 - 7,259 ---------- -------------- ----------- Income (loss) before extraordinary item 34 (10,500) 11,535 Extraordinary Loss due to Early Retirement of Debt (Net of Tax) (16) - (295) ---------- -------------- ------------ Net Income (Loss) $ 18 $ (10,500) $ 11,240 ========== ============== =========== (b)To eliminate intercompany sales and purchases. (c)To eliminate intercompany income and expense items. (d)To eliminate intercompany dividends. - 5 - SOUTHWESTERN ENERGY COMPANY AND SUBSIDIARIES CONSOLIDATING BALANCE SHEET DECEMBER 31, 1995 (in thousands) Southwestern Southwestern Southwestern Arkansas Energy A. W. Energy Energy Western Gas Production Realty Pipeline Company Company SEECO, Inc. Company Company Company ------------ ------------ ------------ ------------ --------- ---------- Assets Current Assets: Cash $ 1,011 $ 476 $ - $ 11 $ - $ - Accounts receivable 987 24,569 4,741 4,040 1 1,201 Income taxes receivable (payable) 8,023 320 (100) (26) 2 2 Inventories, at average cost - 12,177 3,216 55 - - Other 802 1,014 1,066 294 2 - ------------ ------------ ------------ ------------ --------- ---------- Total current assets 10,823 38,556 8,923 4,374 5 1,203 ------------ ------------ ------------ ------------ --------- ---------- Investments: Investment in subsidiaries, at cost 342,198 - - - 366 - Advances to (from) subsidiaries (13,241) - 16,611 1,925 (1,907) (1,386) Other 28 - - - 49 9,037 ------------ ------------ ------------ ------------ --------- ---------- 328,985 - 16,611 1,925 (1,492) 7,651 ------------ ------------ ------------ ------------ --------- ---------- Property, Plant and Equipment: Oil and gas properties, using the full cost method - - 176,857 341,122 - - Gas utility system - 190,927 - - - - Gas in underground storage - 11,841 20,775 - - - Other 13,021 - - 1,515 5,181 - ------------ ------------ ------------ ------------ --------- ---------- 13,021 202,768 197,632 342,637 5,181 - Less - Accumulated depreciation, depletion and amortization 6,726 63,211 87,538 119,551 502 - ------------ ------------ ------------ ------------ --------- ---------- 6,295 139,557 110,094 223,086 4,679 - ------------ ------------ ------------ ------------ --------- ---------- Other Assets 7,051 3,064 11 26 - - ------------ ------------ ------------ ------------ --------- ---------- $ 353,154 $ 181,177 $ 135,639 $ 229,411 $ 3,192 $ 8,854 ============ ============ ============ ============ ========= ========== - 6 - Arkansas Western Pipeline Company Eliminations Consolidated ---------- -------------- ----------- Assets Current Assets: Cash $ - $ - $ 1,498 Accounts receivable 2 - 35,541 Income taxes receivable (payable) - - 8,221 Inventories, at average cost - - 15,448 Other 10 - 3,188 ---------- -------------- ----------- Total current assets 12 - 63,896 ---------- -------------- ----------- Investments: Investment in subsidiaries, at cost - (342,564) (a) - Advances to (from) subsidiaries (2,002) - - Other - - 9,114 ---------- -------------- ----------- (2,002) (342,564) 9,114 ---------- -------------- ----------- Property, Plant and Equipment: Oil and gas properties, using the full cost method - - 517,979 Gas utility system 2,331 - 193,258 Gas in underground storage - - 32,616 Other - - 19,717 ---------- -------------- ----------- 2,331 - 763,570 Less - Accumulated depreciation, depletion and amortization 223 - 277,751 ---------- -------------- ----------- 2,108 - 485,819 ---------- -------------- ----------- Other Assets 112 - 10,264 ---------- -------------- ----------- $ 230 $ (342,564) $ 569,093 ========== ============== =========== (a)To eliminate investment in subsidiaries. - 7 - SOUTHWESTERN ENERGY COMPANY AND SUBSIDIARIES CONSOLIDATING BALANCE SHEET (continued) DECEMBER 31, 1995 (in thousands) Southwestern Southwestern Southwestern Arkansas Energy A. W. Energy Energy Western Gas Production Realty Pipeline Company Company SEECO, Inc. Company Company Company ------------ ------------ ------------ ------------ --------- ------------ Liabilities and Shareholders' Equity Current Liabilities: Current portion of long-term debt $ 3,071 $ - $ - $ - $ - $ - Accounts payable 8,627 7,015 3,617 4,341 - 376 Taxes payable 380 1,749 245 8 39 1 Customer deposits - 4,619 - - - - Over-recovered purchased gas cost, net - 7,327 - - - - Other 1,367 1,096 401 708 400 10 ------------ ------------ ------------ ------------ --------- ------------ Total current liabilities 13,445 21,806 4,263 5,057 439 387 ------------ ------------ ------------ ------------ --------- ------------ Long-Term Debt, less current portion above 208,123 70,888 14,000 - - - ------------ ------------ ------------ ------------ --------- ------------ Other Liabilities: Deferred income taxes 1,316 16,313 34,703 58,184 514 4,294 Deferred investment tax credits - 1,910 84 109 - - Other 471 763 - 2,624 - - ------------ ------------ ------------ ------------ --------- ------------ 1,787 18,986 34,787 60,917 514 4,294 ------------ ------------ ------------ ------------ --------- ------------ Shareholders' Equity: Common stock 2,774 24,214 8,244 1 1 2 Capital in excess of par 21,272 29,000 22,000 164,545 1,728 7,573 Retained earnings 139,927 16,283 52,345 (1,109) 510 (3,402) Unamortized cost of shares issued under stock grant plan (379) - - - - - Common stock in treasury, at cost (33,795) - - - - - ------------ ------------ ------------ ------------ --------- ------------ 129,799 69,497 82,589 163,437 2,239 4,173 ------------ ------------ ------------ ------------ --------- ------------ $ 353,154 $ 181,177 $ 135,639 $ 229,411 $ 3,192 $ 8,854 ============ ============ ============ ============ ========= ============ - 8 - Arkansas Western Pipeline Company Eliminations Consolidated ---------- -------------- ----------- Liabilities and Shareholders' Equity Current Liabilities: Current portion of long-term debt $ - $ - $ 3,071 Accounts payable 13 - 23,989 Taxes payable - - 2,422 Customer deposits - - 4,619 Over-recovered purchased gas cost, net - - 7,327 Other - - 3,982 ---------- -------------- ----------- Total current liabilities 13 - 45,410 ---------- -------------- ----------- Long-Term Debt, less current portion above - (85,254) (a) 207,757 ---------- -------------- ----------- Other Liabilities: Deferred income taxes 137 - 115,461 Deferred investment tax credits - - 2,103 Other - - 3,858 ---------- -------------- ----------- 137 - 121,422 ---------- -------------- ----------- Shareholders' Equity: Common stock 2 (32,464) (a) 2,774 Capital in excess of par - (224,846) (a) 21,272 Retained earnings 78 - 204,632 Unamortized cost of shares issued under stock grant plan - - (379) Common stock in treasury, at cost - - (33,795) ---------- -------------- ----------- 80 (257,310) 194,504 ---------- -------------- ----------- $ 230 $ (342,564) $ 569,093 ========== ============== =========== (a)To eliminate investment in subsidiaries. - 9 - SOUTHWESTERN ENERGY COMPANY AND SUBSIDIARIES CONSOLIDATING STATEMENT OF RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1995 (in thousands) Southwestern Southwestern Southwestern Arkansas Energy A. W. Energy Energy Western Gas Production Realty Pipeline Company Company SEECO, Inc. Company Company Company ------------ ------------ ------------ ------------ --------- ------------ RETAINED EARNINGS, beginning of year $ 138,729 $ 22,758 $ 36,108 $ 4,168 $ 611 $ (3,004) Net income (loss) 7,236 4,025 16,237 (5,277) (101) (398) Cash dividends (6,038) (10,500) - - - - ------------ ------------ ------------ ------------ --------- ------------ RETAINED EARNINGS, end of year $ 139,927 $ 16,283 $ 52,345 $ (1,109) $ 510 $ (3,402) ============ ============ ============ ============ ========= ============ Arkansas Western Pipeline Company Eliminations Consolidated ------------ -------------- ----------- RETAINED EARNINGS, beginning of year $ 60 $ - $ 199,430 Net income (loss) 18 (10,500) (d) 11,240 Cash dividends - 10,500 (d) (6,038) ------------ -------------- ----------- RETAINED EARNINGS, end of year $ 78 $ - $ 204,632 ============ ============== =========== (d)To eliminate intercompany dividends.
- 10 - EX-27 2
OPUR3 YEAR DEC-31-1995 DEC-31-1995 PER-BOOK $569,093,000 $153,111,000 $11,240,000
-----END PRIVACY-ENHANCED MESSAGE-----