SNYDER OIL CORPORATION
PROFIT SHARING AND SAVINGS PLAN
Financial Statements
As of December 31, 1991, 1992 and 1993
Together With Auditors' Report
<PAGE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Advisory Committee of the
Snyder Oil Corporation Profit Sharing and Savings Plan:
We have audited the accompanying statements of net assets available
for plan benefits of Snyder Oil Corporation Profit Sharing and
Savings Plan ("the Plan") as of December 31, 1992 and 1993, and the
related statements of changes in net assets available for plan
benefits for the years ended December 31, 1991, 1992 and 1993. These
financial statements and the schedules referred to below are the
responsibility of the Plan's management. Our responsibility is to
express an opinion on these financial statements and schedules based
on our audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates
made by the trustee, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the net assets available for plan
benefits of the Plan as of December 31, 1992 and 1993, and the
changes in its net assets available for plan benefits for the years
ended December 31, 1991, 1992 and 1993, in conformity with generally
accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the
basic financial statements taken as a whole. The supplemental
schedule of allocation of net assets available for plan benefits and
allocation of changes in net assets available for plan benefits
(Schedule I), schedule of reportable transactions (Schedule II) and
schedule of assets held for investment purposes (Schedule III) are
presented for purposes of additional analysis and are not a required
part of the basic financial statements but are supplementary
information required by the Department of Labor Rules and Regulations
for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. The supplemental schedules have been subjected
to the auditing procedures applied in the audit of the basic
financial statements and, in our opinion, are fairly stated in all
material respects in relation to the basic financial statements taken
as a whole.
ARTHUR ANDERSEN & CO.
Dallas, Texas,
May 20, 1994<PAGE>
<TABLE>
SNYDER OIL CORPORATION PROFIT SHARING AND SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
<CAPTION>
December 31,
---------------------
1992 1993
----------- ---------
<S> <C> <C>
ASSETS:
Investments, at fair value
Asset Allocation Fund $ - $2,948,326
Growth Stock Fund - 1,761,174
S & P 500 Stock Fund - 1,441,903
Short-Intermediate Term Fund - 1,289,521
Snyder Oil Corporation Stock 238,530 648,999
Money Market - 411,649
Nations Short-Term Income Fund 2,409,860 -
EB Index Equity Fund 1,548,388 -
EBP Short-Term Investment Fund D 1,494,652 -
---------- ----------
5,691,430 8,501,572
---------- ----------
Receivables
Employer contribution 901,500 -
Participant contributions 61,832 1,960
Participant loans 103,517 100,506
Accrued interest 12,272 241
---------- ----------
1,079,121 102,707
---------- ----------
Total assets 6,770,551 8,604,279
---------- ----------
LIABILITIES:
Security purchases not settled 57,709 -
---------- ----------
Total liabilities 57,709 -
---------- ----------
NET ASSETS AVAILABLE FOR PLAN BENEFITS $6,712,842 $8,604,279
========== ==========
<FN>
The accompanying notes are an integral part of these statements
</TABLE>
<PAGE>
<TABLE>
SNYDER OIL CORPORATION PROFIT SHARING AND SAVINGS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
<CAPTION>
Years Ended December 31,
-------------------------------------------
1991 1992 1993
---------- ----------- ----------
<S> <C> <C> <C>
ADDITIONS TO NET ASSETS ATTRIBUTED TO:
Investment income
Interest and dividend income $ 262,034 $ 102,786 $ 203,959
Net realized and unrealized appreciation
in fair value of investments 149,990 282,253 622,680
---------- ---------- ----------
412,024 385,039 826,639
---------- ---------- ----------
Contributions
Employer 700,000 901,500 925,000
Participant 656,762 825,895 929,197
---------- ---------- ----------
1,356,762 1,727,395 1,854,197
---------- ---------- ----------
Total additions 1,768,786 2,112,434 2,680,836
---------- ---------- ----------
DEDUCTIONS FROM NET ASSETS ATTRIBUTED
TO:
Administrative expenses 904 1,897 -
Distributions to participants 469,607 165,134 789,399
---------- ---------- ----------
Total deductions 470,511 167,031 789,399
---------- ---------- ----------
NET INCREASE IN NET ASSETS AVAILABLE
FOR PLAN BENEFITS 1,298,275 1,945,403 1,891,437
NET ASSETS, beginning of year 3,469,164 4,767,439 6,712,842
---------- ---------- ----------
NET ASSETS, end of year $4,767,439 $6,712,842 $8,604,279
========== ========== ==========
<FN>
The accompanying notes are an integral part of these statements
</TABLE>
<PAGE>
SNYDER OIL CORPORATION PROFIT SHARING AND SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1991, 1992, AND 1993
(1) DESCRIPTION OF THE PLAN:
- - ---------------------------
The following description of the Snyder Oil Corporation Profit
Sharing and Savings Plan (the "Plan") provides only general
information. Participants should refer to the Plan agreement for a
more complete description of the Plan's provisions.
On March 23, 1990, the parent of Snyder Oil Company, SOCO Holdings,
Inc., was involved in a consolidation transaction with Snyder Oil
Partners, L.P., a master limited partnership of which Snyder Oil
Company was general partner. The resultant combined entity is now
known as Snyder Oil Corporation. Prior to this consolidation, this
Plan was known as the Snyder Oil Company Profit Sharing and Savings
Plan.
General
- - -------
The Plan is a defined contribution profit sharing and 401(k) savings
plan adopted on January 1, 1983, for the benefit of eligible
employees of Snyder Oil Corporation (the "Employer") who may elect to
participate in the Plan. The Plan is administered by the Plan
administrator, an employee who is appointed by the Plan's advisory
committee. Employees become eligible to participate in the Plan on
an entry date at least four months following the later of the date
the employee first performs an hour of service or attains age 18.
The entry dates for the Plan are January 1 and July 1. The Plan is
subject to the provisions of the Employee Retirement Income Security
Act of 1974 ("ERISA").
On October 4, 1993, all Plan assets were transferred to Wells Fargo
Institutional Trust Company who became the trustee of the Plan.
Prior to this date, NationsBank Trust served as the trustee of the
Plan.
The Plan allows participants various investment options in which to
invest their individual and Employer contribution accounts.
Investment income is allocated to participants based upon the ratio
of their participant account balance to the total participants'
accounts in a manner defined by the Plan agreement.
<PAGE>
Forfeitures
- - -----------
The nonvested amounts in a participant's Employer contribution
account are forfeited to the Plan upon termination. Such forfeitures
are allocated to the remaining participants based upon annual
compensation in a manner defined by the Plan agreement.
Participant Contributions
- - -------------------------
Subject to certain maximum limitations imposed by the Internal
Revenue Code, a participant may elect to contribute to the Plan up to
15% of his or her annual pretax compensation. A participant may
change the applicable percentage or completely suspend his or her
contributions in accordance with Plan policies. The Plan also allows
employees to "rollover" contributions that have been made to another
qualified plan.
Employer Contributions
- - ----------------------
Employer contributions to the Plan are entirely discretionary and
determined on an annual basis by the Board of Directors. Employer
contributions are allocated to participants based upon annual
compensation in a manner defined by the Plan agreement.
Vesting
- - -------
Participants are fully vested at all times in their individual
contribution accounts. Vesting in employer contribution accounts is
based on years of service. A participant is 40% vested after two
years, 80% after three years and 100% after four or more years of
service. In addition, participants also become fully vested in their
Employer contribution accounts upon retirement, at or after age 55,
death or total disability of the participant.
Distributions
- - -------------
Distribution of the participant's entire account becomes due upon
retirement, at or after age 55, or upon death or total disability.
Such account balances may be distributed either in a lump-sum
distribution or in installments, as described in the Plan agreement.
Participants are entitled to receive the balance of their individual
contribution account plus their vested interest in their Employer
contribution account upon termination of employment. Participants
may make hardship withdrawals from their individual contribution
account at specified times during a Plan year, subject to certain
restrictions. Participants may also receive loans from the Plan
secured by the participant's account for up to 50% of their vested
balance. Each loan is evidenced by a note providing for repayment
over a maximum of five or ten years depending on the purpose of the
loan as defined by the Plan agreement and providing for interest at
a reasonable rate.
<PAGE>
Federal Income Taxes
- - --------------------
The Plan received a determination letter from the Internal Revenue
Service dated July 6, 1989, confirming that the Plan, as amended, is
exempt from federal income taxes under Sections 401(a) and 501(a) of
the Internal Revenue Code.
Plan Termination
- - ----------------
Although it has expressed no intention to do so, the Employer may
suspend or discontinue contributions under the Plan and has reserved
the right to terminate the Plan subject to provisions of ERISA. In
the event of full or partial termination of the Plan, participants
will become fully vested in their individual and Employer
contribution accounts and will be entitled to distributions of their
entire accounts according to the Plan document and ERISA.
(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
- - ----------------------------------------------
General
- - -------
The accompanying financial statements are prepared on the accrual
basis of accounting.
Investments
- - -----------
The Plan's investments are held by bank-administered trust funds and
are recorded at fair market value. Total cost of investments held by
the Plan at December 31, 1992 and 1993 was $5,539,676 and $8,239,927,
respectively.
Individual investments with a fair value greater than 5% of total net
assets available for Plan benefits consisted of the following fair
values:
<TABLE>
<CAPTION>
December 31,
-------------------------
1992 1993
----------- -----------
<S> <C> <C>
Asset Allocation Fund $ - $2,948,326
Growth Stock Fund - 1,761,174
S&P 500 Stock Fund - 1,441,903
Short-Intermediate Term Fund - 1,289,521
Snyder Oil Corporation Stock 238,530 648,999
Nations Short-Term Income Fund 2,409,860 -
EB Index Equity Fund 1,548,388 -
EBP Short-Term Investment Fund D 1,494,652 -
/TABLE
<PAGE>
The net realized and unrealized appreciation (depreciation) in fair
value of investments included in the statements of changes in net
assets available for Plan benefits for the years ended December 31,
1991, 1992 and 1993 consisted of the following:
<TABLE>
<CAPTION>
Net Appreciation (Depreciation)
--------------------------------
1991 1992 1993
-------- -------- --------
<S> <C> <C> <C>
Snyder Oil Corporation stock $ - $ 54,105 $ 330,891
Marketable equity securities 41,830 111,173 238,610
U.S. Government and corporate debt
securities and bonds 108,160 116,975 80,827
Asset Allocation Fund - - (27,648)
--------- --------- ----------
Net realized and unrealized appreciation
in fair value of investments $ 149,990 $ 282,253 $ 622,680
========= ========= ==========
</TABLE>
The Asset Allocation Fund invests in a changing mix of stocks, bonds
and money market securities. At December 31, 1993, the mix was 70%
in equity securities and 30% in bonds. From the financial
information available, it is impossible to determine the net realized
and unrealized appreciation (depreciation) in each type of investment
(i.e., stocks).
In accordance with Department of Labor regulations, realized gains
(losses) on plan assets sold during the year are calculated as the
excess of sales price over the fair value of the assets at the
beginning of the plan year in which the asset is sold.
Cost of Administration
- - ----------------------
The Employer has paid for the majority of the expenses related to the
administration of the Plan, but is not obligated to do so. Any such
expenses not paid by the Employer shall be paid from the Plan assets.<PAGE>
Distributions to be Paid
- - ------------------------
As discussed in Note 1, participants are entitled to receive the
balance of their individual contribution account plus their vested
interest in their Employer contribution account upon termination of
employment. However, if their total vested balance exceeds $3,500 as
defined in the Plan agreement, they may elect to continue to invest
it through the Plan. Distributions that terminated employees are
entitled to by fund at December 31, 1992 and 1993 are as follows:
<TABLE>
<CAPTION>
1992 1993
------------ -----------
<S> <C> <C>
Short-Intermediate Term Fund $ - $ 258,804
S&P 500 Stock Fund - 132,839
Snyder Oil Corporation Stock Fund 2,243 29,067
Money Market Fund 7,890 18,799
Asset Allocation Fund - 3,051
Bond Fund 122,351 -
Index Equity Fund 6,443 -
------------ -----------
$ 138,927 $ 442,560
=========== ===========
</TABLE>
Distributions are deducted from Net Assets Available for Plan
Benefits when paid. As such, no accrual is provided for
distributions to be paid.
Reclasses
- - ---------
Certain prior year amounts have been reclassified to conform with the
1993 presentation.<PAGE>
<TABLE>
SCHEDULE I
SNYDER OIL CORPORATION PROFIT SHARING AND SAVINGS PLAN
ALLOCATION OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
DECEMBER 31, 1993
<CAPTION>
NationsBank Trust
---------------------------------------------------------------
Index Money SOCO Participant
Bond Equity Market Stock Loan
Fund Fund Fund Fund Fund
---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
ASSETS:
Investments, at fair market value
Asset Allocation Fund $ - $ - $ - $ - $ -
Growth Stock Fund - - - - -
S & P 500 Stock Fund - - - - -
Short-Intermediate Term Fund - - - - -
Snyder Oil Corporation Stock - - - - -
Money Market - - - - -
---------- ---------- ---------- ---------- ----------
- - - - -
---------- ---------- ---------- ---------- ----------
Receivables-
Employer contributions - - - - -
Employee contributions - - - - -
Participant loans - - - - -
Accrued interest - - - - -
---------- ---------- ---------- ---------- ----------
- - - - -
---------- ---------- ---------- ---------- ----------
Total assets - - - - -
---------- ---------- ---------- ---------- ----------
LIABILITIES:
Liabilities - - - - -
---------- ---------- ---------- ---------- ----------
Total liabilities - - - - -
---------- ---------- ---------- ---------- ----------
NET ASSETS AVAILABLE
FOR PLAN BENEFITS $ - $ - $ - $ - $ -
========== =========== =========== ========= ==========
<CAPTION>
Wells Fargo Institutional Trust Company
----------------------------------------------------------------------------------
Short-
Asset Growth S & P 500 Intermediate SOCO Money Participant
Allocation Stock Stock Term Stock Market Loan
Fund Fund Fund Fund Fund Fund Fund Total
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS:
Investments, at fair market value
Asset Allocation Fund $2,948,326 $ - $ - $ - $ - $ - $ - $2,948,326
Growth Stock Fund - 1,761,174 - - - - - 1,761,174
S & P 500 Stock Fund - - 1,441,903 - - - - 1,441,903
Short-Intermediate Term Fund - - - 1,289,521 - - - 1,289,521
Snyder Oil Corporation Stock - - - - 648,999 - - 648,999
Money Market - - - - - 411,649 - 411,649
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
2,948,326 1,761,174 1,441,903 1,289,521 648,999 411,649 - 8,501,572
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
Receivables-
Employer contributions - - - - - - - -
Employee contributions 557 234 185 343 298 343 - 1,960
Participant loans - - - - - - 100,506 100,506
Accrued interest and other - - - - - - 241 241
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
557 234 185 343 298 343 100,747 102,707
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
Total assets 2,948,883 1,761,408 1,442,088 1,289,864 649,297 411,992 100,747 8,604,279
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
LIABILITIES:
Liabilities - - - - - - - -
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
Total liabilities - - - - - - - -
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
NET ASSETS AVAILABLE
FOR PLAN BENEFITS $2,948,883 $1,761,408 $1,442,088 $1,289,864 $649,297 $411,992 $100,747 $8,604,279
========== ========== ========== ========== ========== ========== ========== ===========
</TABLE>
<PAGE>
<TABLE>
SCHEDULE I
SNYDER OIL CORPORATION PROFIT SHARING AND SAVINGS PLAN (Cont'd)
ALLOCATION OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1993
<CAPTION>
NationsBank Trust
-------------------------------------------------------------
Index Money SOCO Participant
Bond Equity Market Stock Loan
Fund Fund Fund Fund Fund
---------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
ADDITIONS TO NET ASSETS
ATTRIBUTED TO:
Investment income
Interest and dividend income $130,916 $8,893 $30,542 $5,936 $5,951
Net realized and unrealized
appreciation (depreciation)
in fair value of investment 74,323 150,150 - 440,670 -
---------- ---------- ---------- ---------- ----------
205,239 159,043 30,542 446,606 5,951
---------- ---------- ---------- ---------- ----------
Contributions
Employer - - - - -
Participants 244,352 283,388 120,600 88,830 -
---------- ---------- ---------- ---------- ----------
244,352 283,388 120,600 88,830 -
---------- ---------- ---------- ---------- ----------
Total additions 449,591 442,431 151,142 535,436 5,951
---------- ---------- ---------- ---------- ----------
DEDUCTIONS FROM NET ASSETS
ATTRIBUTED TO:
Distributions to participants 251,667 262,790 176,185 98,757 -
---------- ---------- ---------- ---------- ----------
Total deductions 251,667 262,790 176,185 98,757 -
---------- ---------- ---------- ---------- ----------
NET INCREASE IN NET ASSETS
AVAILABLE FOR PLAN BENEFITS 197,924 179,641 (25,043) 436,679 5,951
TRANSFERS BETWEEN FUNDS (3,203,984) (2,216,229) (1,252,036) (724,094) (111,651)
NET ASSETS, beginning of year 3,006,060 2,036,588 1,277,079 287,415 105,700
---------- ---------- ---------- ---------- -----------
NET ASSETS, end of year $ - $ - $ - $ - $ -
========== ========== ========== ========== ==========
<CAPTION>
Wells Fargo Institutional Trust Company
-----------------------------------------------------------------------------------
Short-
Asset Growth S & P 500 Intermediate SOCO Money Participant
Allocation Stock Stock Term Stock Market Loan
Fund Fund Fund Fund Fund Fund Fund Total
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ADDITIONS TO NET ASSETS
ATTRIBUTED TO:
Investment income
Interest and dividend income $4,496 $2,686 $2,199 $1,967 $990 $7,257 $2,126 $203,959
Net realized and unrealized
appreciation (depreciation)
in fair value of investment (27,648) 30,565 57,895 6,504 (109,779) - - 622,680
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
(23,152) 33,251 60,094 8,471 (108,789) 7,257 2,126 826,639
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
Contributions
Employer 300,944 195,073 138,151 107,465 102,469 80,898 - 925,000
Participants 54,286 42,089 27,047 20,872 26,640 21,093 - 929,197
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
355,230 237,162 165,198 128,337 129,109 101,991 - 1,854,197
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
Total additions 332,078 270,413 225,292 136,808 20,320 109,248 2,126 2,680,836
DEDUCTIONS FROM NET ASSETS
ATTRIBUTED TO:
Distributions to participants - - - - - - - 789,399
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
Total deductions - - - - - - - 789,399
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
NET INCREASE IN NET ASSETS
AVAILABLE FOR PLAN BENEFITS 332,078 270,413 225,292 136,808 20,320 109,248 2,126 1,891,437
TRANSFERS BETWEEN FUNDS 2,616,805 1,490,995 1,216,796 1,153,056 628,977 302,744 98,621 -
NET ASSETS, beginning of year - - - - - - - 6,712,842
---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------
NET ASSETS, end of year $2,948,883 $1,761,408 $1,442,088 $1,289,864 $649,297 $411,992 $100,747 $8,604,279
========== ========== ========== ========== ========== ========== ========== ==========
</TABLE>
<PAGE>
<TABLE>
SCHEDULE I
SNYDER OIL CORPORATION PROFIT SHARING AND SAVINGS PLAN (Cont'd)
ALLOCATION OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
DECEMBER 31, 1992
<CAPTION>
NationsBank Trust
---------------------------------------------------------------
Index Money SOCO Participant
Bond Equity Market Stock Loan
Fund Fund Fund Fund Fund Total
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
ASSETS:
Investments, at fair market value
Nations Short-Term Income Fund $2,409,860 $ - $ - $ - $ - $2,409,860
EB Index Equity Fund - 1,548,388 - - - 1,548,388
EBP Short-Term Investment Fund D 216,789 183,563 1,091,957 2,343 - 1,494,652
Snyder Oil Corporation Stock - - - 238,530 - 238,530
---------- ---------- ---------- ---------- ---------- ----------
2,626,649 1,731,951 1,091,957 240,873 - 5,691,430
---------- ---------- ---------- ---------- ---------- ----------
Receivables-
Employer contributions 354,560 333,375 170,023 43,542 - 901,500
Employee contributions 24,318 22,867 11,663 2,984 - 61,832
Participant loans - - - - 103,517 103,517
Accrued interest 533 6,104 3,436 16 2,183 12,272
---------- ---------- ---------- ---------- ---------- ----------
379,411 362,346 185,122 46,542 105,700 1,079,121
---------- ---------- ---------- ---------- ---------- ----------
Total assets 3,006,060 2,094,297 1,277,079 287,415 105,700 6,770,551
---------- ---------- ---------- ---------- ---------- ----------
LIABILITIES:
Security purchases not settled - 57,709 - - - 57,709
---------- ---------- ---------- ---------- ---------- ----------
Total liabilities - 57,709 - - - 57,709
---------- ---------- ---------- ---------- ---------- ----------
NET ASSETS AVAILABLE
FOR PLAN BENEFITS $3,006,060 $2,036,588 $1,277,079 $287,415 $105,700 $6,712,842
========== ========== ========== ========== ========== ==========
</TABLE>
<PAGE>
<TABLE>
SCHEDULE I
SNYDER OIL CORPORATION PROFIT SHARING AND SAVINGS PLAN (Cont'd)
ALLOCATION OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1992
<CAPTION>
NationsBank Trust
---------------------------------------------------------------
Index Money SOCO Participant
Bond Equity Market Stock Loan
Fund Fund Fund Fund Fund Total
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
ADDITIONS TO NET ASSETS
ATTRIBUTED TO:
Investment income
Interest and dividend income $44,209 $12,769 $39,756 $2,453 $3,599 $102,786
Net realized and unrealized
appreciation (depreciation)
in fair value of investments 116,975 112,886 - 54,105 (1,713) 282,253
---------- ---------- ---------- ---------- ---------- ----------
161,184 125,655 39,756 56,558 1,886 385,039
---------- ---------- ---------- ---------- ---------- ----------
Contributions
Employer 354,560 333,375 170,023 43,542 - 901,500
Participants 329,985 309,517 159,633 26,760 - 825,895
---------- ---------- ---------- ---------- ---------- ----------
684,545 642,892 329,656 70,302 - 1,727,395
---------- ---------- ---------- ---------- ---------- ----------
Total additions 845,729 768,547 369,412 126,860 1,886 2,112,434
---------- ---------- ---------- ---------- ---------- ----------
DEDUCTIONS FROM NET ASSETS
ATTRIBUTED TO:
Administrative expenses (161) (94) 1,552 - 600 1,897
Distributions to participants 68,967 35,290 62,259 - (1,382) 165,134
---------- ---------- ---------- ---------- ---------- ----------
Total deductions 68,806 35,196 63,811 - (782) 167,031
---------- ---------- ---------- ---------- ---------- ----------
NET INCREASE IN NET ASSETS
AVAILABLE FOR PLAN BENEFITS 776,923 733,351 305,601 126,860 2,668 1,945,403
TRANSFERS BETWEEN FUNDS (585,240) 388,976 (67,323) 160,555 103,032 -
NET ASSETS, beginning of year 2,814,377 914,261 1,038,801 - - 4,767,439
---------- ---------- ---------- ---------- ---------- ----------
NET ASSETS, end of year $3,006,060 $2,036,588 $1,277,079 $287,415 $105,700 $6,712,842
========== ========== ========== ========== ========== ==========
</TABLE>
<PAGE>
<TABLE>
SCHEDULE II
SNYDER OIL CORPORATION PROFIT SHARING AND SAVINGS PLAN
ITEM 27d - SUPPLEMENTAL SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1993
EIN: 75-2306158
<CAPTION>
(a) (b) (c) (d) (g) (i)
Description Number
Party-In of of Purchase Selling Cost of Net Gain
Interest Transactions Transactions Price Price Asset (Loss)
-------- ------------ ------------ ---------- --------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
INDIVIDUAL TRANSACTIONS:
- - ------------------------
Asset Allocation Fund -
Wells Fargo Institutional Trust Company Purchase $2,678,590 $ - $2,678,590 $ -
Growth Stock Fund -
Wells Fargo Institutional Trust Company Purchase 1,540,053 - 1,540,053 -
Short-Intermediate Term Fund -
Wells Fargo Institutional Trust Company Purchase 2,850,822 - 2,850,822 -
Wells Fargo Institutional Trust Company Sale - 1,677,855 1,672,283 5,572
S & P 500 Stock Fund -
Wells Fargo Institutional Trust Company Purchase 2,729,474 - 2,729,474 -
Wells Fargo Institutional Trust Company Sale - 1,483,746 1,446,697 37,049
Money Market Fund -
Wells Fargo Institutional Trust Company Purchase 1,016,031 - 1,016,031 -
Wells Fargo Institutional Trust Company Sale - 727,144 727,144 -
Nations Short-Term Income Fund -
NationsBank Trust Purchase 450,000 - 450,000 -
NationsBank Trust Sale - 2,834,184 2,806,407 27,777
EB Index Equity Fund -
NationsBank Trust Purchase 649,984 - 649,984 -
NationsBank Trust Purchase 674,991 - 674,991 -
NationsBank Trust Sale - 650,012 602,749 47,263
NationsBank Trust Sale - 2,763,473 2,517,187 246,286
EBP Short-Term Investment Fund D -
NationsBank Trust Purchase 378,878 - 378,878 -
NationsBank Trust Purchase 356,241 - 356,241 -
NationsBank Trust Sale - 450,000 450,000 -
NationsBank Trust Sale - 687,125 687,125 -
NationsBank Trust Sale - 1,177,424 1,177,424 -
Nations Prime Portfolio -
NationsBank Trust Purchase 1,177,499 - 1,177,499 -
NationsBank Trust Purchase 2,834,596 - 2,834,596 -
NationsBank Trust Purchase 2,766,215 - 2,766,215 -
NationsBank Trust Sale - 2,877,572 2,877,572 -
NationsBank Trust Sale - 2,772,724 2,772,724 -
NationsBank Trust Sale - 1,046,456 1,046,456 -
SERIES OF TRANSACTIONS:
- - -----------------------
Asset Allocation Fund -
Wells Fargo Inst. Trust Co. Purchases 2 2,985,408 - 2,985,408 -
Wells Fargo Inst. Trust Co. Sales 1 - 9,434 9,440 (6)
Growth Stock Fund -
Wells Fargo Inst. Trust Co. Purchases 2 1,738,372 - 1,738,372 -
Wells Fargo Inst. Trust Co. Sales 1 - 7,763 7,693 70
Short-Intermediate Term Fund -
Wells Fargo Inst. Trust Co. Purchases 2 2,960,872 - 2,960,872 -
Wells Fargo Inst. Trust Co. Sales 1 - 1,677,855 1,672,283 5,572
S & P 500 Stock Fund -
Wells Fargo Inst. Trust Co. Purchases 2 2,869,361 - 2,869,361 -
Wells Fargo Inst. Trust Co. Sales 2 - 1,485,353 1,448,265 37,088
Snyder Stock Fund -
(1) Purchases 10 576,301 - 576,301 -
(1) Sales 5 - 350,397 232,997 117,400
Money Market Fund -
Wells Fargo Inst. Trust Co. Purchases 2 1,098,760 - 1,098,760 -
Wells Fargo Inst. Trust Co. Sales 1 - 727,144 727,144 -
Nations Short-Term Income Fund -
NationsBank Trust Purchases 2 550,000 - 550,000 -
NationsBank Trust Sales 4 - 3,034,184 3,006,567 27,617
EB Index Equity Fund -
NationsBank Trust Purchases 4 1,724,951 - 1,724,951 -
NationsBank Trust Sales 3 - 3,423,489 3,128,983 294,506
EBP Short-Term Investment Fund D -
NationsBank Trust Purchases 112 2,679,470 - 2,679,470 -
NationsBank Trust Sales 51 - 4,174,123 4,174,123 -
Nations Prime Portfolio -
NationsBank Trust Purchases 30 7,223,753 - 7,223,753 -
NationsBank Trust Sales 18 - 7,223,753 7,223,753 -
<FN>
This schedule lists all Individual transactions and series of transactions in excess of
5% of the fair value of Plan assets at the beginning of the year as required by
the Department of Labor Rules and Regulations for Reporting and Disclosure.
(1) The party involved in these transactions includes both NationsBank Trust and Wells Fargo Institutional Trust Company.
(e & f) Do not apply as there are no lease rentals or transaction expenses.
(h) The current value on the date of each transaction is equal to the purchase price or selling price, respectively.
</TABLE>
<PAGE>
<TABLE>
SCHEDULE III
SNYDER OIL CORPORATION PROFIT SHARING AND SAVINGS PLAN
ITEM 27a - SUPPLEMENTAL SCHEDULE OF ASSETS
HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
EIN: 75-2306158
<CAPTION>
(a) (b) (c) (d) (e)
Party-In Identity of Cost Market
Interest Issue Description Value Value
- - ---------- ----------------------------------- ------------------------------- ---------- -----------
<S> <C> <C> <C> <C>
* Wells Fargo Institutional Trust Co. Asset Allocation Fund $2,975,968 $2,948,326
* Wells Fargo Institutional Trust Co. Growth Stock Fund 1,730,679 1,761,174
* Wells Fargo Institutional Trust Co. S & P 500 Stock Fund 1,421,096 1,441,903
* Wells Fargo Institutional Trust Co. Short-Intermediate Term Fund 1,288,589 1,289,521
* Wells Fargo Institutional Trust Co. Snyder Oil Corporation Stock
($.01 par value) 411,946 648,999
* Wells Fargo Institutional Trust Co. Money Market
(average rate of return 3%) 411,649 411,649
* Snyder Oil Corporation Profit Participant Loans
Sharing and Savings Plan (7% to 13% interest rates) - 100,506
---------- ----------
$8,239,927 $8,602,078
========== ==========
<FN>
This supplemental schedule lists assets held for investment purposes
at December 31, 1993, as required by the Department of Labor
Rules and Regulations for Reporting and Disclosure.
</TABLE>
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
SNYDER OIL CORPORATION PROFIT
SHARING AND SAVINGS PLAN
By
---------------------------------
James H. Shonsey, Vice President
June 22, 1994
<PAGE>
EXHIBIT 23.1
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the
incorporation by reference of our report dated May 20, 1994,
included in this Form 11-K for the year ended December 31, 1993,
into Snyder Oil Corporation's previously filed Registration Statement
No. 33-48213.
ARTHUR ANDERSEN & CO.
Dallas, Texas
June 22, 1994
