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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
____________________________________________
In the Matter of
TENTH
NATIONAL FUEL GAS COMPANY CERTIFICATE
NATIONAL FUEL RESOURCES, INC. PURSUANT TO
RULE 24
File No. 70-7833
(Public Utility Holding Company Act of 1935)
____________________________________________
In accordance with the terms of the Order dated
December 20, 1991 issued to National Fuel Gas Company ("National")
authorizing National to acquire the common stock of National Fuel
Resources, Inc. ("NFR") (File No. 70-7833, HCAR No. 35-25437),
attached as Exhibit A is an Income Statement of NFR for the Nine
and Twelve Months ended June 30, 1994. Also attached as Exhibit
B, is the Balance Sheet of NFR as of June 30, 1994.
IN WITNESS WHEREOF, the undersigned companies have duly
caused this Certificate to be signed this 23rd day of November,
1994.
NATIONAL FUEL RESOURCES, INC.
By /s/David F. Smith
David F. Smith, President
NATIONAL FUEL GAS COMPANY
By /s/Gerald T. Wehrlin
Gerald T. Wehrlin, Controller
EXHIBIT A - FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
(Unaudited)
Nine Months Twelve Months
Ended Ended
June 1994 June 1994
Operating Revenues:
Gas - Retail $36,438,060 $40,525,952
Gas - Wholesale 5,787,790 6,149,087
Other 1,625 (17,831)
Partnership Income (1) 777,880
___________ ____________
$42,227,474 $47,435,088
___________ ____________
Operating Expenses:
Purchase Gas 39,728,844 43,508,392
General and Administrative 706,536 1,063,724
Depletion, Depreciation and Amortization 1,378 1,838
Franchise and Other Taxes 219,431 198,926
___________ ____________
$40,656,189 $44,772,880
___________ ____________
Operating Income (loss) $1,571,285 $2,662,208
___________ ____________
Interest Income 83,141 101,634
Interest Expense 5,767 9,650
Amortization and Misc Deductions (26,103) (34,630)
___________ ____________
$103,477 $126,614
___________ ____________
Net Income Before Tax $1,674,762 $2,788,822
___________ ____________
Income Taxes:
Federal 555,704 313,859
State 97,711 35,039
Deferred (35,478) 728,464
___________ ____________
$617,937 $1,077,362
___________ ____________
Net Income $1,056,825 $1,711,460
=========== ============
FILE NO. 70-7833
EXHIBIT B (PAGE 1 OF 2)
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT JUNE 30, 1994
(Unaudited)
ASSETS
Current Assets:
Cash $ 286,456
Short Term Investments 3,842,059
Accounts Receivable 4,868,039
Accounts Receivable-Intercompany 18,299
Reserve for Doubtful Accounts (117,000)
Other Current Assets 82,791
___________
$8,980,644
Property, Plant, and Equipment
Furniture and Fixtures 18,144
Less - Accumulated Depreciation 5,054
___________
$13,090
Other Assets:
Long Term Investments 323,807
Other Deferred Debits 7,574
Deferred Tax Asset 55,515
___________
$ 386,896
___________
$9,380,630
===========
FILE NO.70-7833
EXHIBIT B (PAGE 2 OF 2)
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT JUNE 30, 1994
(Unaudited)
LIABILITIES
Current Liabilities:
Accounts Payable $1,958,945
Accrued Liabilities 219,273
Accrued Sales Tax 6,326
Current Income Taxes-Federal 524,283
-State 91,936
Accounts Payable-Intercompany 561,367
Notes Payable-Intercompany --
___________
3,362,130
Long Term Liabilities:
Deferred Income Taxes 488,382
Miscellaneous Deferred Credits 39,329
___________
$ 527,711
Stockholder's Equity:
Common Stock 10,000
Capital Paid in Excess of Par 3,490,000
Retained Earnings 1,990,788
___________
$5,490,789
___________
$9,380,630
===========
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