UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
- --------------------------------------------
In the Matter of
NATIONAL FUEL GAS COMPANY THIRTEENTH
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 December 31, 1996. Also
attached as Exhibit B is a balance sheet for the Partnership at December 31,
1996. Exhibit C is the income statement of Leidy Hub, Inc. for the three and
twelve months ended December 31, 1996, and Exhibit D is the balance sheet for
Leidy Hub, Inc. at December 31, 1996.
IN WITNESS WHEREOF, the undersigned companies have duly caused
this Certificate to be signed this 13th day of February 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 December 31, 1996.
(2) Exhibit B - Balance Sheet of Ellisburg-Leidy Northeast Hub Company as of
December 31, 1996.
(3) Exhibit C - Income Statement of Leidy Hub, Inc. for the Three and Twelve
Months Ended December 31, 1996.
(4) Exhibit D - Balance Sheet of Leidy Hub, Inc. as of December 31, 1996.
EXHIBIT A
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
INCOME STATEMENT
(UNAUDITED)
Three Months Ended
December 31, 1996
------------------
Revenues
Wheeling Fees $28,540
Other 11,442
-------
Total Revenues 39,982
-------
Cost of Sales
Gas Purchases 7,368
-------
Gross Margin 32,614
General & Administrative
Allocation 29,091
-------
Net Income $ 3,523
=======
EXHIBIT B
ELLISBURG-LEIDY NORTHEAST HUB COMPANY
BALANCE SHEET
(UNAUDITED)
At December 31, 1996
--------------------
CURRENT ASSETS
Cash $2,329,336
Accounts Receivable 4,150,137
Inventory 201,693
----------
Total Current Assets 6,681,166
PROPERTY & EQUIPMENT 28,812
----------
TOTAL ASSETS $6,709,978
==========
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. 420,622
Contributed Capital - Leidy Hub, Inc. 136,314
----------
Total Equity 556,936
----------
TOTAL LIABILITIES & EQUITY $6,709,978
==========
EXHIBIT C
LEIDY HUB, INC.
INCOME STATEMENT
(UNAUDITED)
Three Months Ended Twelve Months Ended
December 31, 1996 December 31, 1996
------------------ -------------------
Operating Expenses:
Operation Expense $ 8,873 $25,362
Depreciation, Depletion and
Amortization - (37)
Other Taxes 800 (181)
-------- -------
Total Operating Expenses 9,673 25,144
-------- -------
Other Income:
Equity Interest in:
Ellisburg-Leidy Northeast
Hub Co. 6,146* 15,103
Enerchange (34,301)* 81,510
-------- -------
(28,155) 96,613
-------- -------
Other Deductions:
Interest-Assoc. Companies 4,858 17,397
-------- -------
Pretax Income (42,686) 54,072
-------- -------
Income Taxes - Current (13,913) (53,498)
- Deferred (489) 76,011
-------- -------
(14,402) 22,513
-------- -------
Net Income (Loss) $(28,284) $31,559
======== =======
* Amount includes adjustment of prior quarter activity.
EXHIBIT D
LEIDY HUB, INC.
BALANCE SHEET
(UNAUDITED)
At December 31, 1996
--------------------
ASSETS
Current Assets:
Cash $ 93,195
Accounts Receivable (99,329)
Prepayments 6,063
----------
Total Current Assets (71)
----------
Property, Plant & Equipment 3,208
Less: Reserve for DDA (3,171)
----------
Property, Plant & Equipment 37
----------
Other Assets:
Investment in Ellisburg-Leidy
Northeast Hub Co. 136,314
Investment in Enerchange 895,651
Other Deferred Debit 1,873
----------
Total Other Assets 1,033,838
----------
Total Assets $1,033,804
==========
LIABILITIES & STOCKHOLDERS EQUITY Capital Stock $1 Par:
Authorized 4,000 shares issued
and outstanding $ 4,000
Paid-in-Capital 1,364,500
Retained Earnings (717,802)
----------
Total Stockholders Equity 650,698
----------
Current & Accrued Liabilities:
Notes Payable Assoc. Companies 300,000
Accounts Payable - Assoc. Companies 11,877
Federal Income Taxes Payable (125,700)
Other Accruals 1,466
----------
Total Current & Accrued Liabilities 187,643
----------
Accumulated Deferred Income Taxes 195,463
----------
Total Liabilities & Equity $1,033,804
==========