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Previous: NATIONAL FUEL GAS CO, 35-CERT, 1994-02-15 |
Next: NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/, POS AM, 1994-02-15 |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
____________________________________________
In the Matter of
EIGHTH
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 Three
and Twelve Months ended December 31, 1993. Also attached as
Exhibit B, is the Balance Sheet of NFR as of December 31, 1993.
IN WITNESS WHEREOF, the undersigned companies have duly
caused this Certificate to be signed this 15th day of February,
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
FILE NO. 70-7833
EXHIBIT A
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
(Unaudited)
Three Months Twelve Months
Ended Ended
December 1993 December 1993
Operating Revenues:
Gas - Retail $9,760,407 $26,662,061
Gas- Wholesale 808,590 1,169,887
Partnership Income 0 376,152
___________ ____________
$10,568,997 $28,208,100
___________ ____________
Operating Expenses:
Purchase Gas 9,889,722 25,700,656
General and Administrative 207,200 1,002,734
Depletion, Depreciation and Amortization 459 2,071
Franchise and Other Taxes 529 2,856
___________ ____________
$10,097,910 $26,708,317
___________ ____________
Operating Income (loss) $471,087 1,499,783
___________ ____________
Interest Income 19,420 60,936
Interest Expense 3,139 10,150
Amortization and Misc Deductions (12,885) 38,306
___________ ____________
$29,166 $12,480
___________ ____________
Net Income Before Tax $500,253 $1,512,263
___________ ____________
Income Taxes:
Federal 167,710 25,114
State 52,564 21,987
Deferred (12,554) 578,884
___________ ____________
$207,720 $625,985
___________ ____________
Net Income $292,533 $886,278
=========== ============
FILE NO. 70-7833
EXHIBIT B (PAGE 1 OF 2)
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT DECEMBER 31, 1993
(Unaudited)
ASSETS
Current Assets:
Cash $ 213,843
Short Term Investments 1,325,000
Accounts Receivable 4,397,348
Accounts Receivable-Intercompany 8,361
Reserve for Doubtful Accounts (81,000)
Other Current Assets 1,514,937
___________
$7,378,489
Property, Plant, and Equipment
Furniture and Fixtures 14,586
Less - Accumulated Depreciation 4,134
___________
$10,452
Other Assets:
Long Term Investments 323,807
Other Deferred Debits 36,888
Deferred Tax Asset 55,514
___________
$ 416,209
___________
$7,805,150
===========
FILE NO. 70-7833
EXHIBIT B (PAGE 2 OF 2)
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT DECEMBER 31, 1993
(Unaudited)
LIABILITIES
Current Liabilities:
Accounts Payable $1,799,826
Accrued Liabilities 171,125
Accrued Sales Tax --
Current Income Taxes-Federal 62,812
-State (27,796)
Accounts Payable-Intercompany 528,963
Notes Payable-Intercompany --
___________
2,534,930
Long Term Liabilities:
Deferred Income Taxes 506,380
Miscellaneous Deferred Credits 37,344
___________
$ 543,724
Stockholder's Equity:
Common Stock 10,000
Capital Paid in Excess of Par 3,490,000
Retained Earnings 1,226,496
___________
$4,726,496
___________
$7,805,150
===========
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