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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
- --------------------------------------------
In the Matter of
NATIONAL FUEL GAS COMPANY FOURTEENTH
LEIDY HUB, INC. CERTIFICATE
ELLISBURG-LEIDY NORTHEAST HUB COMPANY PURSUANT TO
RULE 24
File No. 70-8417
(Public Utility Holding Company Act of 1935)
- --------------------------------------------
In accordance with the terms of the Order dated July 29, 1994
issued to National Fuel Gas Company ("National") authorizing Leidy Hub, Inc., a
subsidiary of National to enter into a partnership with Hub Services, Inc., a
subsidiary of Natural Gas Clearinghouse (File No. 70-8417, HCAR No. 35-26093),
attached as Exhibit A is an income statement of Ellisburg-Leidy Northeast Hub
Company (the Partnership) for the three months ended March 31, 1997. Also
attached as Exhibit B is a balance sheet for the Partnership at March 31, 1997.
Exhibit C is the income statement of Leidy Hub, Inc. for the three and twelve
months ended March 31, 1997, and Exhibit D is the balance sheet for Leidy Hub,
Inc. at March 31, 1997.
IN WITNESS WHEREOF, the undersigned companies have duly caused
this Certificate to be signed this 14th day of May 1997.
LEIDY HUB, INC. AND NATIONAL FUEL GAS COMPANY
By /s/Gerald T. Wehrlin
---------------------------------------
Gerald T. Wehrlin
Secretary and Treasurer, Leidy Hub, Inc.
Controller, National Fuel Gas Company
<PAGE>
EXHIBIT INDEX
(File No. 70-8417)
(1) Exhibit A - Income Statement of Ellisburg-Leidy Northeast Hub Company
for the Three Months Ended March 31, 1997.
(2) Exhibit B - Balance Sheet of Ellisburg-Leidy Northeast Hub Company as of
March 31, 1997.
(3) Exhibit C - Income Statement of Leidy Hub, Inc. for the Three and Twelve
Months Ended March 31, 1997.
(4) Exhibit D - Balance Sheet of Leidy Hub, Inc. as of March 31, 1997.
EXHIBIT A
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
INCOME STATEMENT
(UNAUDITED)
Three Months Ended
March 31, 1997
-------------------
Revenues
Wheeling Fees -
Other $(46)
----
Total Revenues (46)
Cost of Sales
Gas Purchases -
----
Gross Margin (46)
General & Administrative
Allocation 23
----
Net Income (Loss) $(23)
====
EXHIBIT B
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
BALANCE SHEET
(UNAUDITED)
At March 31, 1997
-----------------
CURRENT ASSETS
Cash $2,329,290
Accounts Receivable 4,150,137
Inventory 201,693
----------
Total Current Assets 6,681,120
PROPERTY & EQUIPMENT 28,812
----------
TOTAL ASSETS $6,709,932
==========
CURRENT LIABILITIES
Gas Purchase Payable $6,263,071
Transportation Payable (110,029)
----------
Total Current Liabilities 6,153,042
----------
TOTAL LIABILITIES 6,153,042
----------
EQUITY
Contributed Capital - Hub Services, Inc. 420,599
Contributed Capital - Leidy Hub, Inc. 136,291
----------
Total Equity 556,890
----------
TOTAL LIABILITIES & EQUITY $6,709,932
==========
EXHIBIT C
LEIDY HUB, INC.
INCOME STATEMENT
(UNAUDITED)
Three Months Ended Twelve Months Ended
March 31, 1997 March 31, 1997
------------------ -----------------
Operating Expenses:
Operation Expense $ 5,437 $ 27,430
Depreciation, Depletion and
Amortization - (65)
Other Taxes - (181)
-------- --------
Total Operating Expenses 5,437 27,184
-------- --------
Other Income:
Equity Interest in:
Ellisburg-Leidy Northeast
Hub Co. 5,000 27,154
Enerchange 27,018 (3,176)
-------- --------
32,018 23,978
-------- --------
Other Deductions:
Interest-Assoc. Companies 4,077 17,211
-------- --------
Pretax Income (Loss) 22,504 (20,417)
-------- --------
Income Taxes - Current 8,294 (79,550)
- Deferred - 76,399
-------- --------
8,294 (3,151)
-------- --------
Net Income (Loss) $ 14,210 $(17,266)
======== ========
EXHIBIT D
LEIDY HUB, INC.
BALANCE SHEET
(UNAUDITED)
At March 31, 1997
-----------------
ASSETS
Current Assets:
Cash $ 84,360
Accounts Receivable (99,329)
Prepayments 6,063
----------
Total Current Assets (8,906)
----------
Property, Plant & Equipment 3,208
Less: Reserve for DDA (3,171)
----------
Net Property, Plant & Equipment 37
----------
Other Assets:
Investment in Ellisburg-Leidy
Northeast Hub Co. 141,314
Investment in Enerchange 922,669
Other Deferred Debit 1,873
----------
Total Other Assets 1,065,856
----------
Total Assets $1,056,987
==========
LIABILITIES & STOCKHOLDERS EQUITY Capital Stock $1 Par:
Authorized 4,000 shares issued
and outstanding $ 4,000
Paid-in-Capital 1,364,500
Retained Earnings (703,592)
----------
Total Stockholders Equity 664,908
----------
Current & Accrued Liabilities:
Notes Payable Assoc. Companies 300,000
Accounts Payable - Assoc. Companies 12,663
Federal Income Taxes Payable (117,406)
Other Accruals 1,359
----------
Total Current & Accrued Liabilities 196,616
----------
Accumulated Deferred Income Taxes 195,463
----------
Total Liabilities & Equity $1,056,987
==========
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