-----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, L891y/34mxMaaOJSXCq52Fhqxk0A8U/XP0R3x2DEhVOn8XJngjg9NwSlVSUJNexg A0Ph2ZKEKFGgXMihkxIKYg== 0000950150-99-000486.txt : 19990415 0000950150-99-000486.hdr.sgml : 19990415 ACCESSION NUMBER: 0000950150-99-000486 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990414 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHIEFTAIN INTERNATIONAL INC CENTRAL INDEX KEY: 0000846871 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 000000000 STATE OF INCORPORATION: A0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: SEC FILE NUMBER: 001-10216 FILM NUMBER: 99593920 BUSINESS ADDRESS: STREET 1: 1201 TORONTO DOMINION TWR STREET 2: EDMONTON CENTRE, EDMONTON, ALBERTA CITY: CANADA T5J 2Z1 STATE: A0 BUSINESS PHONE: 4034251950 MAIL ADDRESS: STREET 1: 1201 TORONTO DOMINION TWR STREET 2: EDMONTON CENTRE, EDMONTON, ALBERTA CITY: CANADA T5J 2Z1 STATE: A0 10-K/A 1 AM.#1 TO 10-K 1 FORM 10-K/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------------------- AMENDMENT TO APPLICATION OR REPORT FILED PURSUANT TO SECTION 12, 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File number 33-51630: CHIEFTAIN INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) NEVADA 98-0127391 - ---------------------------------- ------------------------------------
AMENDMENT NO. 1 The undersigned registrant hereby amends the following items, financial statements, exhibits or other portions of its annual report on Form 10K for the year ended December 31, 1998 as set forth in the page attached hereto: SELECTED CONSOLIDATED FINANCIAL AND OPERATING DATA (correction of typographical error. Working capital amount for 1998 was $2,383 -- should read $2,392.) Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this amendment to be signed on its behalf by the undersigned, thereunto duly authorized. CHIEFTAIN INTERNATIONAL, INC. (Registrant) /s/ E. L. Hahn --------------------------------------------- E. L. Hahn Senior Vice President, Finance and Treasurer (Principal Financial Officer) Date: April 13, 1999 2 SELECTED CONSOLIDATED FINANCIAL AND OPERATING DATA CHIEFTAIN INTERNATIONAL,INC. AND SUBSIDIARIES
Year ended December 31, 1998 1997 1996 1995 1994 - ----------------------- ----------- ----------- ----------- ----------- ----------- (in thousands except shares, per share amounts and operating data) INCOME STATEMENT DATA: Revenue ............................................... $ 64,391 $ 72,055 $ 63,099 $ 31,071 $ 34,876 Production costs ...................................... 16,355 13,325 12,220 9,563 8,839 General and administrative expenses ................... 4,796 4,308 3,972 3,346 3,402 Interest .............................................. 437 -- -- -- -- Depletion and amortization(1) ......................... 42,081 36,951 30,920 18,779 21,527 Additional depletion(2) ............................... 6,244 -- -- -- 15,434 Income (loss) from operations, before dividends on preferred shares of a subsidiary ................ (4,113) 10,160 9,784 (775) (9,528) Dividends on preferred shares of a subsidiary ......... 4,942 4,942 4,942 4,942 4,942 Net income (loss) applicable to common shares(1) ...... (9,055) 5,218 4,842 (5,717) (14,470) Net income (loss) per common share(1).................. (0.67) 0.38 0.37 (0.54) (1.32) Weighted average number of common shares outstanding... 13,480,067 13,620,728 13,065,414 10,633,142 10,986,116 OTHER DATA: Cash flow from operations ............................. $ 37,847 $ 49,473 $ 41,841 $ 13,186 $ 17,647 Net gas and oil capital expenditures .................. $ 92,573 $ 69,453 $ 57,673 $ 100,502 $ 28,059 BALANCE SHEET DATA (at end of period): Working capital ....................................... $ 2,392 $ 22,676 $ 42,854 $ 11,216 $ 103,225 Total assets(1) ....................................... $ 318,584 $ 285,125 $ 267,442 $ 204,555 $ 211,032 Long-term debt ........................................ $ 40,000 $ -- $ -- $ -- $ -- Shareholders' equity(1) ............................... $ 234,946 $ 249,466 $ 244,122 $ 190,534 $ 200,754 OPERATING DATA: Average Daily Net Production: Gas (mmcf) ......................................... 67.1 64.2 59.8 29.5 28.4 Oil and liquids (b) ................................ 3,012 2,261 2,005 1,643 1,631 Gas equivalent (mmcf) .............................. 85.2 77.8 71.8 39.3 38.2 Average Sales Price: Gas (per mcf) ...................................... $ 1.99 $ 2.33 $ 2.09 $ 1.54 $ 1.97 Oil and liquids (per b) ............................ 11.74 18.94 20.99 16.94 15.86 Average Production Cost: Gas (per mcf) ...................................... $ 0.30 $ 0.27 $ 0.25 $ 0.35 $ 0.34 Oil and liquids (per b) ............................ 5.78 5.81 6.57 7.31 6.79
Notes: (1) Reference is made to Note 11 of the Notes to Consolidated Financial Statements which describes the impact of United States accounting principles. (2) This amount reflects write-downs in the carrying value of UK and Libyan gas and oil properties in 1998 and US and Peruvian gas and oil properties in 1994 in accordance with full cost accounting rules under Canadian GAAP. 16 -----END PRIVACY-ENHANCED MESSAGE-----