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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
_____________________________________________
In the Matter of
FIFTEENTH
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, 1995. Also attached as Exhibit "B", is the Balance
Sheet of NFR as of September 30, 1995.
IN WITNESS WHEREOF, the undersigned companies have duly
caused this Certificate to be signed this 14th day of November, 1995.
NATIONAL FUEL RESOURCES, INC.
By:_/s/ R. J. Kreppel____________
R. J. Kreppel, President
NATIONAL FUEL GAS COMPANY
By:_/s/ G. T. Wehrlin____________
G. T. Wehrlin, Controller
jes\nfr\rul24_15.wp
EXHIBIT A - FILE NO. 70-7833
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
(Unaudited)
Twelve Months
Ended
September 1995
Operating Revenues:
Gas - Retail $38,502,895
Gas - Wholesale 2,125,142
Other 238,712
Partnership Income 0
____________
$40,866,749
____________
Operating Expenses:
Purchase Gas $36,615,755
General and Administrative 1,801,113
Depletion, Depreciation and Amortization 8,815
Franchise and Other Taxes 82,404
____________
$38,508,087
____________
Operating Income (loss) $ 2,358,662
____________
Interest Income 311,039
Interest Expense 17,351
Amortization and Misc Deductions 403
____________
293,285
Net Income Before Tax $ 2,651,947
____________
Income Taxes:
Federal 1,338,993
State 203,567
Deferred (517,124)
____________
1,025,436
____________
Net Income 1,626,511
============
FILE NO. 70-7833
EXHIBIT B (PAGE 1 OF 2)
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT SEPTEMBER 30, 1995
(Unaudited)
ASSETS
Current Assets:
Cash $ 46,047
Short Term Investments 5,103,155
Accounts Receivable 3,943,668
Accounts Receivable-Intercompany 31,326
Reserve for Doubtful Accounts (734,594)
Other Current Assets 160,403
___________
$8,550,005
Property, Plant, and Equipment
Furniture and Fixtures 68,582
Less - Accumulated Depreciation 14,327
___________
$54,255
Other Assets:
Long Term Investments 1,156,542
Other Deferred Debits 9,376
Deferred Tax Asset --
___________
$1,165,918
___________
$9,770,178
===========
FILE NO. 70-7833
EXHIBIT B (PAGE 2 OF 2)
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT SEPTEMBER 30, 1995
(Unaudited)
LIABILITIES
Current Liabilities:
Accounts Payable $ 859,872
Accrued Liabilities 446,464
Accrued Sales Tax 1,910
Current Income Taxes-Federal (86,020)
-State 91,908
Accounts Payable-Intercompany 849,717
Notes Payable-Intercompany --
___________
2,163,850
Long Term Liabilities:
Deferred Income Taxes (146,389)
Miscellaneous Deferred Credits 465,923
___________
$ 319,534
Stockholder's Equity:
Common Stock 10,000
Capital Paid in Excess of Par 3,490,000
Retained Earnings 3,821,794
Retained Earnings - Dividends 35,000
___________
$7,286,794
___________
$9,770,178
===========
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