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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
- --------------------------------------------
In the Matter of
NATIONAL FUEL GAS COMPANY THIRTY-FIRST
NATIONAL FUEL RESOURCES, INC. CERTIFICATE
PURSUANT TO
File No. 70-7833 RULE 24
(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, 1999. Also attached as Exhibit "B" is the
Balance sheet of NFR as of September 30, 1999.
IN WITNESS WHEREOF, the undersigned companies have duly caused
this Certificate to be signed this 15th day of November, 1999.
NATIONAL FUEL RESOURCES, INC.
By: /s/ Robert J. Kreppel
--------------------------------------
R. J. Kreppel, President
NATIONAL FUEL GAS COMPANY
By: /s/ James R. Peterson
--------------------------------------
James R. Peterson, Assistant Secretary
Exhibit A
NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT
Twelve
Months Ended
September 30, 1999
-----------------
Actual
------
Operating Revenues $ 99,088,136
------------
Operating Expenses:
Purchased Gas 90,182,433
Purchased Electric 1,471,959
General & Administrative 4,049,949
Depreciation, Depletion
& Amortization 165,307
Franchise & Other Taxes 182,425
------------
96,052,073
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Operating Income 3,036,063
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Interest Income 390,152
Interest Expense 234,538
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155,614
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Net Income Before Taxes 3,191,677
------------
Income Taxes:
Federal 1,217,673
State 67,686
Deferred (147,693)
------------
1,137,666
------------
Net Income $ 2,054,011
============
Exhibit B
NATIONAL FUEL RESOURCES, INC.
BALANCE SHEET
AT SEPTEMBER 30,
----------------------------
1999 1998
----------- -----------
ASSETS
Current Assets:
Cash $ 442,279 $ 121,038
Short term Investments 2,306,430 6,911,045
Accounts Receivable 9,219,763 7,287,156
Accounts Receivable-Interco 379,278 4,637
Less Reserve for Bad Debts (836,360) (633,134)
Gas Storage 6,249,676 2,077,051
Other Current Assets (27,422) 51,509
----------- -----------
17,733,644 15,819,302
----------- -----------
Property, Plant and Equipment
Furniture & Fixtures 786,207 484,644
Less-Accumulated DD&A (297,444) (132,137)
----------- -----------
488,763 352,507
----------- -----------
Other Assets:
Long Term Investments 243,514 588,427
Other Deferred Debits 209,633 183,270
----------- -----------
453,147 771,697
----------- -----------
$18,675,554 $16,943,506
=========== ===========
LIABILITIES & EQUITY
Current Liabilities:
Accounts Payable $ 1,723,354 $ 2,146,453
Accrued Liabilities 285,737 49,907
Accounts Payable-Intercompany 247,431 1,032,645
Dividend Payable-Intercompany 35,000 35,000
Notes Payable-Intercompany 0 2,200,000
----------- -----------
2,291,522 5,464,005
----------- -----------
Long Term Liabilities:
Deferred Income Taxes (1,013,001) (871,401)
Micellanous Deferred Credits 4,174,293 1,042,171
----------- -----------
3,161,292 170,770
----------- -----------
Stockholder's Equity:
Common Stock 10,000 10,000
Capital Paid in Excess of Par 3,490,000 3,490,000
Retained Earnings 9,722,740 7,808,731
----------- -----------
13,222,740 11,308,731
----------- -----------
$18,675,554 $16,943,506
=========== ===========
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