-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, hpHcxTZdL7oDWzKSywr5u20SGGqz4FNuPGAaUi4igzHPDlOMASvn9fGekOLUqxnV TZaVtb3b9WrigMVHy+4ugA== 0000930661-95-000091.txt : 19950504 0000930661-95-000091.hdr.sgml : 19950504 ACCESSION NUMBER: 0000930661-95-000091 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950502 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19950503 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: CODA ENERGY INC CENTRAL INDEX KEY: 0000356799 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 751842480 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-10955 FILM NUMBER: 95534257 BUSINESS ADDRESS: STREET 1: 5735 PINELAND DR STREET 2: STE 300 CITY: DALLAS STATE: TX ZIP: 75231 BUSINESS PHONE: 2146921800 MAIL ADDRESS: STREET 1: 5735 PINELAND DRIVE STREET 2: SUITE 300 CITY: DALLAS STATE: TX ZIP: 75231 FORMER COMPANY: FORMER CONFORMED NAME: CHAPMAN ENERGY INC DATE OF NAME CHANGE: 19891012 FORMER COMPANY: FORMER CONFORMED NAME: DALLAS SUNBELT ENERGY INC DATE OF NAME CHANGE: 19821116 8-K 1 FORM 8-K ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): MAY 2, 1995 CODA ENERGY, INC. (Exact Name of Registrant as Specified in its Charter) State of Delaware 0-10955 75-1842480 (State or Other (Commission File Number) (IRS Employer Jurisdiction of Incorporation) Identification No.) 5735 Pineland Drive Suite 300 Dallas, Texas 75231 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (214) 692-1800 =============================================================================== Item 5. Other Events ------------ CODA RELEASES RESULTS OF FIRST QUARTER MARCH 31, 1995 EARNINGS RELEASE Coda Energy, Inc. reported today earnings of $1,305,000 or $.06 per share for the first quarter of 1995 compared to net income of $553,000 ($.03 per share) for the same period in 1994, a 136% increase. Revenues were $23,039,000 versus $11,611,000 for the same period, while cash flow from operations was $6,992,000 in 1995 and $4,446,000 in 1994, a 57% increase in cash flow. Production for the first quarter of 1995 was 772,000 barrels of oil and 1,186,000 Mcf of gas, as compared to 1994 first quarter production of 619,000 barrels of oil and 1,262,000 Mcf of gas. Average oil prices increased 21% from $14.05 per barrel in 1994 to $17.03 per barrel in 1995 while average gas prices declined 25% to $1.52 per mcf in 1995 from $2.02 per mcf in 1994. Ted Eubank, Coda's President, stated that, "The growth in revenues, net income, cash flow and production is in line with our expectations and is a result of our recent acquisition and development activities." Item 7. Financial Statements and Exhibits --------------------------------- The following documents are attached hereto as exhibits: 99.1 Coda Energy, Inc. Press Release dated May 2, 1995. - -------------------------------------------------------------------------------- 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. Date: May 3, 1995 CODA ENERGY, INC. By: \s\ Joe Callaway --------------------------------- Joe Callaway, Vice President and General Counsel EXHIBIT INDEX Sequential Exhibit No. Description of Exhibit Page No. - ------------- -------------------------------------------- ---------- [S] [C] [C] 99.1 Coda Energy, Inc. Press Release dated May 2, 5 1995. EX-99.1 2 PRESS RELEASE EXHIBIT 99.1 CODA ENERGY, INC NEWS RELEASE CODA RELEASES RESULTS OF FIRST QUARTER MARCH 31, 1995 EARNINGS RELEASE Dallas, Texas, May 2, 1995 . . . Coda Energy, Inc. (NASDAQ-NMS: CODA) reported today earnings of $1,305,000 or $.06 per share for the first quarter of 1995 compared to net income of $553,000 ($.03 per share) for the same period in 1994, a 136% increase. Revenues were $23,039,000 versus $11,611,000 for the same period, while cash flow from operations was $6,992,000 in 1995 and $4,446,000 in 1994, a 57% increase in cash flow. Production for the first quarter of 1995 was 772,000 barrels of oil and 1,186,000 Mcf of gas, as compared to 1994 first quarter production of 619,000 barrels of oil and 1,262,000 Mcf of gas. Average oil prices increased 21% from $14.05 per barrel in 1994 to $17.03 per barrel in 1995 while average gas prices declined 25% to $1.52 per mcf in 1995 from $2.02 per mcf in 1994. Ted Eubank, Coda's President, stated that, "The growth in revenues, net income, cash flow and production is in line with our expectations and is a result of our recent acquisition and development activities." Coda Energy, Inc. and its subsidiaries acquire, exploit and develop oil and gas properties, gas processing plants and gathering systems. Coda is headquartered in Dallas, Texas with principal operations in Texas, Oklahoma and Kansas. The Company's stock is traded on the NASDAQ National Market System under the symbol CODA. Additional information about Coda Energy, Inc. may be obtained by contacting the Company's President, Ted Eubank, at Coda's headquarters, 5735 Pineland Drive, Suite 300, Dallas, Texas 75231, telephone number (214) 692-1800 or (800) 486-2632. CODA ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS AND PRODUCT PRICES) (Unaudited)
Three Months Ended March 31, ----------------------- 1994 1995 ---- ---- REVENUES: Oil and gas sales $11,242 $14,948 33% Gas gathering and processing 151 7,904 5134% Other income 218 187 -14% ------- ------- 11,611 23,039 98% ------- ------- COSTS AND EXPENSES Oil and gas production 5,341 6,563 23% Gas gathering and processing 154 6,730 4270% Depletion, depreciation and amortization 3,535 4,870 38% General and administrative 588 707 20% Interest 1,035 2,068 100% ------- ------- 10,653 20,938 97% ------- ------- INCOME BEFORE INCOME TAXES 958 2,101 119% Income tax expense 405 796 97% ------- ------- NET INCOME $ 553 $ 1,305 136% ======= ======= NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE: $ 0.03 $ 0.06 100% Weighted average number of common and common equivalent shares outstanding: 20,394 22,788 PRODUCT PRICES Crude oil $ 14.05 $ 17.03 21% Natural gas $ 2.02 $ 1.52 -25% PRODUCTION DATA Oil production (Bbls) 619 772 25% Gas production (Mcf) 1,262 1,186 -6% CASH FLOW Working capital provided by operations $ 4,446 $ 6,992 57% Per share $ 0.22 $ 0.31 41%
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