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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
____________________________________________
In the Matter of
ELEVENTH
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 Twelve
Months ended September 30, 1994. Also attached as Exhibit B, is
the Balance Sheet of NFR as of September 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)
Twelve Months
Ended
September 1994
Operating Revenues:
Gas - Retail $44,189,556
Gas - Wholesale 6,601,081
Other (26,605)
Partnership Income 1
____________
$50,764,033
____________
Operating Expenses:
Purchase Gas $47,964,027
General and Administrative 945,766
Depletion, Depreciation and Amortization 1,838
Franchise and Other Taxes 267,674
____________
$49,179,305
____________
Operating Income (loss) $ 1,584,728
____________
Interest Income 128,170
Interest Expense 6,449
Amortization and Misc Deductions (26,303)
____________
148,024
Net Income Before Tax $ 1,732,752
____________
Income Taxes:
Federal 631,776
State (38,291)
Deferred (87,054)
____________
506,431
____________
Net Income 1,226,321
============
FILE NO. 70-7833
EXHIBIT B (PAGE 1 OF 2)
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT SEPTEMBER 30, 1994
(Unaudited)
ASSETS
Current Assets:
Cash $ 628,837
Short Term Investments 2,763,727
Accounts Receivable 3,787,826
Accounts Receivable-Intercompany 540,075
Reserve for Doubtful Accounts (135,000)
Other Current Assets 132,391
___________
$7,717,856
Property, Plant, and Equipment
Furniture and Fixtures 18,582
Less - Accumulated Depreciation 5,512
___________
$13,070
Other Assets:
Long Term Investments 542,224
Other Deferred Debits 8,452
Deferred Tax Asset 85,791
___________
$ 636,467
___________
$8,367,393
===========
FILE NO. 70-7833
EXHIBIT B (PAGE 2 OF 2)
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT SEPTEMBER 30, 1994
(Unaudited)
LIABILITIES
Current Liabilities:
Accounts Payable $ 534,431
Accrued Liabilities 446,927
Accrued Sales Tax 795
Current Income Taxes-Federal 600,355
-State (45,936)
Accounts Payable-Intercompany 630,068
Notes Payable-Intercompany --
___________
2,166,640
Long Term Liabilities:
Deferred Income Taxes 456,526
Miscellaneous Deferred Credits 83,945
___________
$ 540,470
Stockholder's Equity:
Common Stock 10,000
Capital Paid in Excess of Par 3,490,000
Retained Earnings 2,160,283
___________
$5,660,283
___________
$8,367,393
===========
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