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Previous: MERRILL LYNCH & CO INC, SC 13G, 1996-01-18 |
Next: TENET HEALTHCARE CORP, SC 13D/A, 1996-01-18 |
File No. 70-8541
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
POST-EFFECTIVE AMENDMENT NO. 5 TO
FORM U-1
APPLICATION OR DECLARATION
under
the
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
--------------------------------------------
National Fuel Gas Company National Fuel Gas
10 Lafayette Square Distribution Corporation
Buffalo, New York 14203 10 Lafayette Square
Buffalo, New York 14203
Seneca Resources Corporation National Fuel Gas Supply
10 Lafayette Square Corporation
Buffalo, New York 14203 10 Lafayette Square
Buffalo, New York 14203
National Fuel Resources, Inc. Utility Constructors, Inc.
10 Lafayette Square 10 Lafayette Square
Buffalo, New York 14203 Buffalo, New York 14203
Horizon Energy Development, Inc.
10 Lafayette Square
Buffalo, New York 14203
(Names of companies filing this statement
and addresses of principal executive offices)
---------------------------------------------
NATIONAL FUEL GAS COMPANY
(Name of top registered holding company)
---------------------------------------------
Philip C. Ackerman Robert J. Reger, Jr., Esq.
Senior Vice President Reid & Priest LLP
National Fuel Gas Company 40 West 57th Street
10 Lafayette Square New York, New York 10019
Buffalo, New York 14203
(Names and addresses of agents for service)
<PAGE>
Item 6. Exhibits and Financial Statements.
The following exhibits are filed herewith:
(A) Exhibits
G Financial Data Schedules.
(B) Financial Statements
S-10(a) Projected Statement of Cash Flows for
Horizon Energy Development, Inc. for
Calendar Years, 1996 and 1997.
S-11 Horizon Energy Development, Inc. Pro
Forma Statement of Income and Earnings
Reinvested in the Business for the
twelve months ended November 30, 1995,
Pro Forma Balance Sheet at November 30,
1995 and Pro Forma Adjusting Entries.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Public Utility
Holding Company Act of 1935, the undersigned companies have duly
caused this post-effective amendment to be signed on their behalf
by the undersigned thereunto duly authorized.
NATIONAL FUEL GAS COMPANY
By /s/ Gerald T. Wehrlin
--------------------------
Gerald T. Wehrlin
Controller
NATIONAL FUEL GAS
DISTRIBUTION CORPORATION
By /s/ Gerald T. Wehrlin
--------------------------
Gerald T. Wehrlin
Senior Vice President,
Controller
SENECA RESOURCES CORPORATION
By /s/ Gerald T. Wehrlin
--------------------------
Gerald T. Wehrlin
Secretary, Treasurer and
Controller
NATIONAL FUEL GAS SUPPLY
CORPORATION
By /s/ Joseph P. Pawlowski
--------------------------
Joseph P. Pawlowski
Treasurer
<PAGE>
NATIONAL FUEL RESOURCES, INC.
By /s/ Robert J. Kreppel
--------------------------
Robert J. Kreppel
President
UTILITY CONSTRUCTORS, INC.
By /s/ Joseph P. Pawlowski
--------------------------
Joseph P. Pawlowski
Treasurer
HORIZON ENERGY DEVELOPMENT, INC.
By /s/ Gerald T. Wehrlin
--------------------------
Gerald T. Wehrlin
Secretary
DATED: January 18, 1996
<PAGE>
EXHIBIT INDEX
Exhibits
27 Financial Data Schedules.
99.1 Projected Statement of Cash Flows for
Horizon Energy Development, Inc. for
Calendar Years, 1996 and 1997.
99.2 Horizon Energy Development, Inc. Pro
Forma Statement of Income and Earnings
Reinvested in the Business for the
twelve months ended November 30, 1995,
Pro Forma Balance Sheet at November 30,
1995 and Pro Forma Adjusting Entries.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR1
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM HORIZON
ENERGY DEVELOPMENT, INC.'S FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS. PER BOOK AMOUNTS REPRESENT THE PERIOD
FROM HORIZON'S INITIAL CAPITALIZATION (SEPTEMBER 15, 1995) THROUGH NOVEMBER 30,
1995.
</LEGEND>
<SUBSIDIARY>
<NUMBER> 6
<NAME> HORIZON ENERGY DEVELOPMENT, INC.
<MULTIPLIER> 1,000
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> SEP-30-1996 SEP-30-1996
<PERIOD-START> DEC-01-1994 DEC-01-1994
<PERIOD-END> NOV-30-1995 NOV-30-1995
<BOOK-VALUE> PER-BOOK PRO-FORMA
<TOTAL-NET-UTILITY-PLANT> 70 70
<OTHER-PROPERTY-AND-INVEST> 0 0
<TOTAL-CURRENT-ASSETS> 254 100,254
<TOTAL-DEFERRED-CHARGES> 992 992
<OTHER-ASSETS> 0 0
<TOTAL-ASSETS> 1,316 101,316
<COMMON> 1 1
<CAPITAL-SURPLUS-PAID-IN> 1,299 1,299
<RETAINED-EARNINGS> (461) (6,038)
<TOTAL-COMMON-STOCKHOLDERS-EQ> 839 (4,738)
0 0
0 0
<LONG-TERM-DEBT-NET> 0 100,000
<SHORT-TERM-NOTES> 0 0
<LONG-TERM-NOTES-PAYABLE> 0 0
<COMMERCIAL-PAPER-OBLIGATIONS> 0 0
<LONG-TERM-DEBT-CURRENT-PORT> 0 0
0 0
<CAPITAL-LEASE-OBLIGATIONS> 0 0
<LEASES-CURRENT> 0 0
<OTHER-ITEMS-CAPITAL-AND-LIAB> 477 6,054
<TOT-CAPITALIZATION-AND-LIAB> 1,316 101,316
<GROSS-OPERATING-REVENUE> 0 0
<INCOME-TAX-EXPENSE> (248) (3,251)
<OTHER-OPERATING-EXPENSES> 709 709
<TOTAL-OPERATING-EXPENSES> 461 (2,542)
<OPERATING-INCOME-LOSS> (461) 2,542
<OTHER-INCOME-NET> 0 0
<INCOME-BEFORE-INTEREST-EXPEN> (461) 2,542
<TOTAL-INTEREST-EXPENSE> 0 8,580
<NET-INCOME> (461) (6,038)
0 0
<EARNINGS-AVAILABLE-FOR-COMM> (461) (6,038)
<COMMON-STOCK-DIVIDENDS> 0 0
<TOTAL-INTEREST-ON-BONDS> 0 0
<CASH-FLOW-OPERATIONS> 0 0
<EPS-PRIMARY> 0 0
<EPS-DILUTED> 0 0
</TABLE>
S-10(a)
NATIONAL FUEL GAS COMPANY
PROJECTED STATEMENT OF CASH FLOWS
HORIZON ENERGY DEVELOPMENT, INC.
CALENDAR YEARS 1995-1997
$000 OMITTED
HORIZON
-------
CASH NEEDS
CAPITAL EXPENDITURES $100,000
RETIREMENT OF LONG TERM DEBT 0
SHORT - TERM DEBT BALANCE
AS OF 12/31/94 0
--------
TOTAL CASH NEEDS 100,000
========
FUNDS AVAILABLE
DEPRECIATION & AMORTIZATION 0
DEFERRED INCOME TAXES 0
NET INCOME NET OF DIVIDENDS 0
OTHER WORKING CAPITAL 0
--------
NET INTERNAL FUNDS 0
--------
EXTERNAL FUNDS REQUIRED $100,000
========
MAXIMUM AUTHORIZATION REQUESTED $100,000
========
HORIZON ENERGY DEVELOPMENT, INC. S-11
PROFORMA BALANCE SHEET Page 1 of 3
AT NOVEMBER 30, 1995
(UNAUDITED)
(Thousands of Dollars)
Adjustments
Per Books Dr. (Cr.) Pro Forma
--------- ----------- ---------
ASSETS
PROPERTY, PLANT AND EQUIPMENT $ 70 $ 70
LESS - ACCUMULATED DEPRECIATION,
DEPLETION AND AMORTIZATION - -
--------- ----------- ---------
70 70
--------- ----------- ---------
CURRENT ASSETS
CASH & TEMP. CASH INVESTMENTS 254 100,000 (a) 100,254
--------- ----------- ---------
OTHER ASSETS
DEFERRED CHARGES 992 992
--------- ----------- ---------
TOTAL ASSETS $ 1,316 $ 100,000 $ 101,316
========= =========== =========
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
CAPITAL OF SUBSIDIARIES $ 1 $ 1
PAID IN CAPITAL 1,299 1,299
EARNINGS REINVESTED IN THE
BUSINESS (461) 5,577 (6,038)
--------- ----------- ---------
839 5,577 (4,738)
--------- ----------- ---------
LONG-TERM DEBT - (100,000) (a) 100,000
--------- ----------- ---------
TOTAL CAPITALIZATION 839 (94,423) 95,262
--------- ----------- ---------
CURRENT AND ACCRUED LIABILITIES
ACCOUNTS PAYABLE INTERCOMPANY 725 (8,580) (b) 9,305
OTHER CURRENT AND ACCRUED LIABILITIES - 3,003 (c) (3,003)
--------- ----------- ---------
725 (5,577) 6,302
--------- ----------- ---------
DEFERRED CREDITS
ACCUMULATED DEFERRED INCOME TAXES (248) (248)
--------- ----------- --------
TOTAL CAPITALIZATION AND LIABILITIES $ 1,316 $ (100,000) $(101,316)
========= =========== =========
<PAGE>
HORIZON ENERGY DEVELOPMENT, INC. S-11
PROFORMA STATEMENTS OF INCOME AND Page 2 of 3
EARNINGS REINVESTED IN THE BUSINESS
FOR THE TWELVE MONTHS ENDED NOVEMBER 30, 1995*
(UNAUDITED)
(Thousands of Dollars)
Adjustments
Per Books Dr. (Cr.) Pro Forma
--------- ----------- ---------
OPERATING REVENUES $ - $ -
--------- ----------- ---------
OPERATING EXPENSES:
OPERATION EXPENSE 709 709
INCOME TAXES - NET (248) (3,003) (c) (3,251)
--------- ----------- ---------
461 (3,003) (2,542)
--------- ----------- ---------
OPERATING INCOME (461) (3,003) 2,542
-------- ----------- ---------
INCOME BEFORE INTEREST CHARGES (461) (3,003) 2,542
-------- ----------- ---------
INTEREST CHARGES:
INTEREST - INTERCOMPANY - 8,580 (b) 8,580
-------- ----------- ---------
NET INCOME (461) 5,577 (6,038)
EARNINGS REINVESTED IN THE BUSINESS
BALANCE AT DECEMBER 1, 1994 - -
-------- ----------- ---------
(461) 5,577 (6,038)
DIVIDENDS ON COMMON STOCK - -
-------- ----------- ---------
BALANCE AT NOVEMBER 30, 1995 $ (461) $ 5,577 $ (6,038)
======== =========== =========
* Per Book amounts represent the period from Horizon's initial capitalization
by National (September 15, 1995) through November 30, 1995.
<PAGE>
HORIZON ENERGY DEVELOPMENT, INC. S-11
PROFORMA ADJUSTING ENTRIES Page 3 of 3
AS OF NOVEMBER 30, 1995
(UNAUDITED)
(Thousands of Dollars)
Debit Credit
----- ------
(a)
CASH $100,000
LONG-TERM NOTES PAYABLE - INTERCOMPANY:
8.58% NOTES DUE ______. $100,000
To record the sale of long-term promissory notes
by Horizon to National at assumed interest rate
of 8.58%.
(b)
INTEREST EXPENSE - INTERCOMPANY $ 8,580
INTEREST PAYABLE - INTERCOMPANY $ 8,580
To record annual interest expense on the new
debt issued.
(c)
FEDERAL INCOME TAXES PAYABLE $ 3,003
FEDERAL INCOME TAX EXPENSE $ 3,003
To record income tax effect of entry (b).
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