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Previous: DAYTON HUDSON RECEIVABLES CORP, 8-K, 1998-04-03 |
Next: TAKE TWO INTERACTIVE SOFTWARE INC, DEF 14A, 1998-04-03 |
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
AMENDMENT NO. 1
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM _________ TO ________
COMMISSION FILE NUMBER 0-26444
FORCENERGY INC
------------------------------------------------------
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 65-0429338
------------------------------ -------------------
(State of other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
2730 S.W. 3RD AVENUE
SUITE 800
MIAMI, FLORIDA 33129-2356
- ---------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (305) 856-8500
--------------------
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
NAME OF EACH EXCHANGE ON
TITLE OF EACH CLASS WHICH REGISTERED
------------------- ----------------
Common Stock, per value $0.1 per share New York Stock Exchange
Preferred Share Purchase Rights New York Stock Exchange
SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: NONE
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No
---- ----
Indicate by checkmark if disclosure of delinquent filings pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of the Registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. ______
As of March 13, 1998, there were outstanding 25,513,102 shares of common
stock of the Registrant. The aggregate market value on such date of the voting
stock of the Registrant held by non-affiliates was an estimated $384.1 million.
1
<PAGE> 2
EXPLANATORY NOTE
This Amendment No. 1 to the Annual Report on Form 10-K of Forcenergy
Inc (the "Company") is made to amend the eighteenth sentence of page 5 in Part
I, Item 1, and to restate the Financial Data Schedules (Exhibit 27 for all
periods) reflecting the adoption of Statement of Financial Accounting Standards
No. 128, "Earnings Per Share," for all periods presented.
Part I
Item 1. Business
The eighteenth sentence on page 5 of the Annual Report on Form 10-K is
hereby restated in its entirety to read as follows:
The Company spent approximately $222.1 million in the Gulf of Mexico
during 1997, including $19.6 million in undeveloped lease costs, $20.0 million
in geological and geophysical costs and data and $6.3 million in internally
capitalized costs.
Part IV
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K
(a) Exhibits
27.2 Restated Financial Data Schedule
27.3 Restated Financial Data Schedule
2
<PAGE> 3
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
FORCENERGY INC
Date: April 3, 1998 By: /s/ E. JOSEPH GRADY
----------------------------------------
E. Joseph Grady
Vice President - Chief Financial Officer
Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons in the capacities and
on the dates indicated:
<TABLE>
<S> <C>
By: /s/ Stig Wennerstrom Date: April 3, 1998
------------------------------------------------------------
Stig Wennerstrom
President and Chief Executive Officer
(Principal Executive Officer)
By: /s/ E. Joseph Grady Date: April 3, 1998
------------------------------------------------------------
E. Joseph Grady
Vice President - Chief Financial Officer
(Principal Financial and Accounting Officer)
By: /s/ Bruce L. Burnham Date: April 3, 1998
------------------------------------------------------------
Bruce L. Burnham, Director
By: /s/ Eric Forss Date: April 3, 1998
------------------------------------------------------------
Eric Forss, Director
By: /s/ Robert Issal Date: April 3, 1998
------------------------------------------------------------
Robert Issal
Director & Chairman of the Board of Directors
By: /s/ William F. Wallace Date: April 3, 1998
------------------------------------------------------------
William F. Wallace, Director
</TABLE>
3
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS 12-MOS
<FISCAL-YEAR-END> DEC-31-1996 DEC-31-1996 DEC-31-1996 DEC-31-1996
<PERIOD-END> MAR-31-1996 JUN-30-1996 SEP-30-1996 DEC-31-1996
<CASH> 101 173 712 9,669
<SECURITIES> 0 0 0 0
<RECEIVABLES> 18,634 18,312 22,828 29,416
<ALLOWANCES> 0 0 0 0
<INVENTORY> 0 0 0 0
<CURRENT-ASSETS> 27,263 27,314 32,526 10,673
<PP&E> 316,227 356,030 376,805 523,711
<DEPRECIATION> 0 0 0 0
<TOTAL-ASSETS> 354,179 391,674 417,523 585,925
<CURRENT-LIABILITIES> 38,248 42,411 41,621 43,013
<BONDS> 144,533 175,135 196,581 272,932
0 0 0 0
0 0 0 0
<COMMON> 183 183 184 226
<OTHER-SE> 156,596 158,527 163,153 248,710
<TOTAL-LIABILITY-AND-EQUITY> 354,179 391,674 417,523 585,925
<SALES> 28,342 57,477 94,373 138,698
<TOTAL-REVENUES> 28,468 57,753 94,792 139,381
<CGS> 0 0 0 0
<TOTAL-COSTS> 23,044 46,209 75,827 108,675
<OTHER-EXPENSES> (111) (237) (380) (650)
<LOSS-PROVISION> 0 0 0 0
<INTEREST-EXPENSE> 2,636 5,913 9,503 13,367
<INCOME-PRETAX> 2,899 5,868 9,842 17,989
<INCOME-TAX> 1,081 2,188 3,671 6,711
<INCOME-CONTINUING> 0 0 0 0
<DISCONTINUED> 0 0 0 0
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 1,818 3,680 6,171 11,278
<EPS-PRIMARY> .10 .20 .34 .60
<EPS-DILUTED> .10 .20 .33 .57
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS
<FISCAL-YEAR-END> DEC-31-1997 DEC-31-1997 DEC-31-1997
<PERIOD-END> MAR-31-1997 JUN-30-1997 SEP-30-1997
<CASH> 50,029 3,091 4,063
<SECURITIES> 0 0 0
<RECEIVABLES> 33,719 28,497 29,126
<ALLOWANCES> 0 0 0
<INVENTORY> 0 0 0
<CURRENT-ASSETS> 11,490 23,179 61,079
<PP&E> 625,837 681,517 746,744
<DEPRECIATION> 0 0 0
<TOTAL-ASSETS> 744,116 758,542 828,674
<CURRENT-LIABILITIES> 80,748 87,824 85,793
<BONDS> 375,100 375,100 440,618
0 0 0
0 0 0
<COMMON> 226 227 227
<OTHER-SE> 260,045 265,678 270,347
<TOTAL-LIABILITY-AND-EQUITY> 744,116 758,542 828,674
<SALES> 70,580 134,131 196,929
<TOTAL-REVENUES> 71,005 135,146 198,661
<CGS> 0 0 0
<TOTAL-COSTS> 46,383 98,094 148,509
<OTHER-EXPENSES> (322) (1,748) (2,721)
<LOSS-PROVISION> 0 0 0
<INTEREST-EXPENSE> 6,848 14,760 22,970
<INCOME-PRETAX> 18,096 24,040 29,903
<INCOME-TAX> 6,922 8,920 11,018
<INCOME-CONTINUING> 0 0 0
<DISCONTINUED> 0 0 0
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> 11,174 15,120 18,885
<EPS-PRIMARY> .49 .66 .83
<EPS-DILUTED> .47 .63 .79
</TABLE>
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