FILE NO._______
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM U-3A-2
STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION
UNDER RULE U-3A-2 FROM THE PROVISIONS OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
To be Filed Annually Prior to March 1
OGE ENERGY CORP.
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
its statement claiming exemption as a holding company from the provisions of the
Public Utility Holding Company Act of 1935, and submits the following
information:
1. Name, State of organization, location and nature of business of claimant
and every subsidiary thereof, other than any exempt wholesale generator (EWG) or
foreign utility company in which claimant directly or indirectly holds an
interest.
OGE Energy Corp. (the "Company") is a public utility holding company which
is incorporated in the State of Oklahoma and located in Oklahoma City, Oklahoma.
At December 31, 1997, the Company was not engaged in any business independent of
that conducted through its subsidiaries, Oklahoma Gas and Electric Company
("OG&E"), Enogex Inc. ("Enogex") and Origen Inc. ("Origen").
OG&E was incorporated February 27, 1902, under the laws of the Territory of
Oklahoma and is now existing under and by virtue of the laws of the State of
Oklahoma. OG&E is an operating electric public utility. Its operations are
conducted predominantly in the State of Oklahoma. OG&E also conducts some
operations in the State of Arkansas. Its business is more fully described in its
most recent Form 10-K Annual Report (File No. 1-1097) on file with the
Commission.
Enogex is a wholly-owned subsidiary of the Company. Enogex owns and
operates a natural gas pipeline system that delivers natural gas to OG&E's
electric generating units. By order of the Commission dated August 28, 1986
(Release No. 35-24174), the Commission ordered that Enogex was not a gas utility
company within the meaning of Section 2(a)(4) of the Public Utility Holding
Company Act of 1935, as amended (the "Act"). At December 31, 1997, Enogex had
three wholly-owned active subsidiaries: Enogex Products Corporation, OGE
Resources Inc. and Enogex Exploration Corporation. In April 1997, Enogex sold
its eighty percent interest in Centoma Gas Systems Inc. At December 31, 1997,
Enogex Products Corporation owned an eighty percent interest in the NuStar Joint
Venture. Enogex and each of its subsidiaries were incorporated under the laws of
the State of Oklahoma. The subsidiaries of Enogex: own and operate gas
processing plants in Oklahoma and west Texas; are engaged in the gathering and
processing of natural gas; are engaged in the buying, selling and brokering
1
of energy (natural gas, electricity and natural gas liquids); and are engaged in
the exploration for and production of natural gas. The subsidiaries of Enogex
are not "public utility companies" within the meaning of the Act.
Origen is a wholly-owned non-regulated subsidiary of the Company. At
December 31, 1997, Origen had two wholly-owned active subsidiaries: OGE Energy
Technologies and Geothermal Design and Engineering, Inc. ("GD&E"). Origen and
each of its subsidiaries were incorporated under the laws of the State of
Oklahoma. Origen is currently involved in the development of energy related
products and services; GD&E is engaged in the design and engineering of
geothermal heating and cooling systems.
2. A brief description of the properties of claimant and each of its
subsidiary public utility companies used for the generation, transmission, and
distribution of electric energy for sale, or for the production, transmission,
and distribution of natural or manufactured gas, indicating the location of
principal generating plants, transmission lines, producing fields, gas
manufacturing plants, and electric and gas distribution facilities, including
all such properties which are outside the State in which claimant and its
subsidiaries are organized and all transmission or pipelines which deliver or
receive electric energy or gas at the borders of such State.
The Company owns no physical properties.
The principal properties of OG&E are described in the above mentioned Form
10-K Annual Report (File No. 1-1097) on file with the Commission.
3. The following information for the last calendar year with respect to
claimant and each of its subsidiary public utility companies:
(a) Number of Kwh of electric energy sold (at retail or wholesale), and Mcf
of natural or manufactured gas distributed at retail.
None by Company
23,384,925,000 Kwh by OG&E
(b) Number of Kwh of electric energy and Mcf of natural or manufactured gas
distributed at retail outside the State in which each such company is organized.
None by Company
2,198,543,000 Kwh by OG&E
(c) Number of Kwh of electric energy and Mcf of natural or manufactured gas
sold at wholesale outside the State in which each such company is organized, or
at the State line.
None by Company
1,789,938,000 Kwh by OG&E
2
(d) Number of Kwh of electric energy and Mcf of natural or manufactured gas
purchased outside the State in which each such company is organized or at the
State line.
None by Company
393,585,000 Kwh by OG&E
4. The following information for the reporting period with respect to
claimant and each interest it holds directly or indirectly in an EWG or a
foreign utility company, stating monetary amounts in United States dollars:
(a) Name, location, business address and description of the facilities used
by the EWG or foreign utility company for the generation, transmission and
distribution of electric energy for sale or for the distribution at retail of
natural or manufactured gas.
(b) Name of each system company that holds an interest in such EWG or
foreign utility company; and description of the interest held.
(c) Type and amount of capital invested, directly or indirectly, by the
holding company claiming exemption; any direct or indirect guarantee of the
security of the EWG or foreign utility company by the holding company claiming
exemption; and any debt or other financial obligation for which there is
recourse, directly or indirectly, to the holding company claiming exemption or
another system company, other than the EWG or foreign utility company.
(d) Capitalization and earnings of the EWG or foreign utility company
during the reporting period.
(e) Identify any service, sales or construction contract(s) between the EWG
or foreign utility company and a system company, and describe the services to be
rendered or goods sold and fees or revenues under such agreement(s).
Item 4 is not applicable. At December 31, 1997, the Company did not
hold directly or indirectly any interest in an EWG or a foreign utility company.
3
EXHIBITS
A. Consolidating Statement of Income and Retained Earnings for the year
ended December 31, 1997, and Consolidating Balance Sheet as of
December 31, 1997, for OGE Energy Corp. (the "Company") and its
subsidiary companies. The Company was organized on August 4, 1995 by
Oklahoma Gas and Electric Company ("OG&E") for the purpose of
effecting a share exchange with OG&E and becoming the holding company
for OG&E. The Company had no operations until the share exchange
became effective on December 31, 1996.
B. Financial Data Schedule.
C. An organizational chart showing the relationship of each EWG or
foreign utility company to associate companies in the holding-company
system.
Exhibit C is not applicable. At December 31, 1997, the Company did
not hold directly or indirectly any interest in an EWG or a foreign utility
company.
4
The above-named claimant has caused this statement to be duly executed on
its behalf by its authorized officer on this 27th day of February 1998.
OGE ENERGY CORP.
(Registrant)
By /s/ J. R. Hatfield
---------------------------------
J. R. Hatfield
Vice President and Treasurer
CORPORATE SEAL
Attest:
/s/ Irma B. Elliott
----------------------------
Irma B. Elliott
Vice President and Secretary
Name, title and address of officer to whom notices and correspondence
concerning this statement should be addressed:
J. R. Hatfield, Vice President and Treasurer
- --------------------------------------------
P. O. BOX 321, Oklahoma City, Oklahoma 73101-0321
- --------------------------------------------------
5
EXHIBIT INDEX
-------------
Exhibit Description
------- -----------
A. Consolidating Statement of Income and Retained Earnings for the year
ended December 31, 1997, and Consolidating Balance Sheet as of
December 31, 1997, for OGE Energy Corp. (the "Company") and its
subsidiary companies.
B. Financial Data Schedule.
6
Exhibit A
OGE Energy Corp.
Consolidating Statement of Income
Year Ended December 31, 1997
OGE Oklahoma Gas OGE
(dollars in thousands except pershare data) Energy and Electric Enogex Origen Consolidating Consolidated
Corp. Company Inc. Inc. Adjustments Statements
----------- ------------- ---------- -------- ------------- ------------
OPERATING REVENUES................................ $ - $ 1,191,691 $ 321,960 $ 345 $ (41,689) $ 1,472,307
OPERATING EXPENSES:
Fuel............................................ - 319,495 - - (41,689) 277,806
Purchased power................................. - 222,464 - - - 222,464
Gas purchased for resale........................ - - 201,461 - - 201,461
Other operation and maintenance................. 4,925 245,944 58,000 2,468 - 311,337
Depreciation.................................... 297 114,759 27,548 28 - 142,632
Current income taxes............................ (2,494) 60,544 753 (1,456) - 57,347
Deferred income taxes, net...................... - 15,927 6,328 - - 22,255
Deferred investment tax credits, net............ - (5,150) - - - (5,150)
Taxes other than income......................... 97 42,991 5,015 54 - 48,157
----------- ------------- ---------- -------- ------------- ------------
Total operating expenses...................... 2,825 1,016,974 299,105 1,094 (41,689) 1,278,309
OPERATING INCOME.................................. (2,825) 174,717 22,855 (749) - 193,998
OTHER INCOME AND DEDUCTIONS:
Interest income................................. 1,669 4,532 171 152 (2,651) 3,873
Other........................................... (38) (2,308) 3,520 - - 1,174
Income from subsidiaries........................ 134,220 - - - (134,220) -
----------- ------------- ---------- -------- ------------- ------------
Net other income and deductions .............. 135,851 2,224 3,691 152 (136,871) 5,047
INTEREST CHARGES:
Interest on long-term debt...................... - 53,280 9,292 - - 62,572
Allowance for borrowed funds used
during construction........................... - (599) - - - (599)
Other........................................... 2,761 3,266 1,015 131 (2,651) 4,522
----------- ------------- ---------- -------- ------------- ------------
Total interest charges, net................... 2,761 55,947 10,307 131 (2,651) 66,495
NET INCOME (LOSS)................................. 130,265 120,994 16,239 (728) (134,220) 132,550
PREFERRED DIVIDEND REQUIREMENTS................... - 2,285 - - - 2,285
----------- ------------- ---------- -------- ------------- ------------
EARNINGS AVAILABLE FOR COMMON..................... $ 130,265 $ 118,709 $ 16,239 $ (728) $ (134,220) $ 130,265
=========== ============= ========== ======== ============= ============
AVERAGE COMMON SHARES
OUTSTANDING (thousands)......................... 40,373 40,373
EARNINGS PER AVERAGE
COMMON SHARE.................................... $ 3.23 $ 3.23
7
Exhibit A
OGE Energy Corp.
Consolidating Statement of Retained Earnings
Year Ended December 31, 1997
OGE Oklahoma Gas OGE
(dollars in thousands) Energy and Electric Enogex Origen Consolidating Consolidated
Corp. Company Inc. Inc. Adjustments Statements
----------- ------------- ---------- -------- ------------- ------------
BALANCE AT BEGINNING OF PERIOD.................... $ 449,198 $ 328,630 $ 3,900 $ - $ (332,530) $ 449,198
ADD - net income (loss)........................... 130,265 120,994 16,239 (728) (134,220) 132,550
----------- ------------- ---------- -------- ------------- ------------
Total......................................... 579,463 449,624 20,139 (728) (466,750) 581,748
DEDUCT:
Cash dividends declared
on preferred stock............................ - 2,285 - - - 2,285
Cash dividends declared
on common stock............................... 107,400 108,392 4,000 - (112,392) 107,400
----------- ------------- ---------- -------- ------------- ------------
Total Cash Dividends.......................... 107,400 110,677 4,000 - (112,392) 109,685
----------- ------------- ---------- -------- ------------- ------------
BALANCE AT END OF PERIOD.......................... $ 472,063 $ 338,947 $ 16,139 $ (728) $ (354,358) $ 472,063
=========== ============= ========== ======== ============= ============
8
Exhibit A
OGE Energy Corp.
Consolidating Balance Sheet
December 31, 1997
OGE Oklahoma Gas OGE
(dollars in thousands) Energy and Electric Enogex Origen Consolidating Consolidated
Corp. Company Inc. Inc. Adjustments Statements
----------- ------------- ---------- -------- ------------- ------------
ASSETS
PROPERTY, PLANT & EQUIPMENT:
In service............................... $ 1,236 $ 3,647,367 $ 476,987 $ 268 $ - $ 4,125,858
Construction work in progress............ - 18,909 6,890 - - 25,799
----------- ------------- ---------- -------- ------------- ------------
Total property, plant and equipment.... 1,236 3,666,276 483,877 268 - 4,151,657
Less accumulated depreciation........ - 1,653,771 144,008 27 - 1,797,806
----------- ------------- ---------- -------- ------------- ------------
Net property, plant and equipment........ 1,236 2,012,505 339,869 241 - 2,353,851
OTHER PROPERTY AND INVESTMENTS, at cost.... 1,009,161 28,140 1,932 4,136 (1,005,471) 37,898
CURRENT ASSETS:
Cash and cash equivalents................ 175 228 3,853 1 - 4,257
Accounts receivable - customers,
less reserve of $4,507................. - 92,380 25,462 - - 117,842
Accounts receivable - affiliates......... 4,106 - 13,269 - (17,375) -
Accrued utility revenues................. - 36,900 - - - 36,900
Accounts receivable-other................ - 9,795 1,404 271 - 11,470
Fuel inventories, at LIFO cost........... - 43,577 5,792 - - 49,369
Materials and supplies, at average cost.. - 24,480 3,950 - - 28,430
Prepayments and other.................... 1 2,533 1,955 - - 4,489
Accumulated deferred tax assets.......... - 6,048 877 - - 6,925
----------- ------------- ---------- -------- ------------- ------------
Total current assets................... 4,282 215,941 56,562 272 (17,375) 259,682
DEFERRED CHARGES:
Advance payments for gas................. - 10,500 - - - 10,500
Income taxes recoverable through
future rates........................... - 42,549 - - - 42,549
Other.................................... 622 41,147 19,616 - - 61,385
----------- ------------- ---------- -------- ------------- ------------
Total deferred charges................. 622 94,196 19,616 - - 114,434
----------- ------------- ---------- -------- ------------- ------------
TOTAL ASSETS............................... $1,015,301 $ 2,350,782 $ 417,979 $ 4,649 $ (1,022,846) $ 2,765,865
=========== ============= ========== ======== ============= ============
9
Exhibit A
OGE Energy Corp.
Consolidating Balance Sheet
December 31, 1997
OGE Oklahoma Gas OGE
(dollars in thousands) Energy and Electric Enogex Origen Consolidating Consolidated
Corp. Company Inc. Inc. Adjustments Statements
----------- ------------- ---------- -------- ------------- ------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common stock and retained earnings.............. $ 984,960 $ 851,390 $ 149,808 $ 4,273 $ (1,005,471) $ 984,960
Cummulative preferred stock..................... - 49,266 - - - 49,266
Long-term debt.................................. - 691,924 150,000 - - 841,924
----------- ------------- ---------- -------- ------------- ------------
Total capitalization.......................... 984,960 1,592,580 299,808 4,273 (1,005,471) 1,876,150
CURRENT LIABILITIES:
Short-term debt................................. 1,000 - - - - 1,000
Accounts payable - affiliates................... - 14,987 1,299 1,089 (17,375) -
Accounts payable - other........................ 863 47,801 28,970 99 - 77,733
Dividends payable............................... 26,857 571 - - - 27,428
Customers' deposits............................. - 23,846 1 - - 23,847
Accrued taxes................................... 1,621 18,964 2,092 (1,000) - 21,677
Accrued interest................................ - 15,746 4,295 - - 20,041
Long-term debt due within one year.............. - 25,000 - - - 25,000
Other........................................... - 35,385 3,131 2 - 38,518
----------- ------------- ---------- -------- ------------- ------------
Total current liabilities..................... 30,341 182,300 39,788 190 (17,375) 235,244
DEFERRED CREDITS AND OTHER LIABILITIES:
Accrued pension and benefit obligation ......... - 57,418 4,605 - - 62,023
Accumulated deferred income taxes............... - 439,657 64,295 - - 503,952
Accumulated deferred investment tax credits..... - 72,878 - - - 72,878
Other........................................... - 5,949 9,483 186 - 15,618
----------- ------------- ---------- -------- ------------- ------------
Total deferred credits and other liabilities.. - 575,902 78,383 186 - 654,471
----------- ------------- ---------- -------- ------------- ------------
TOTAL CAPITALIZATION AND LIABILITIES.............. $1,015,301 $ 2,350,782 $ 417,979 $ 4,649 $ (1,022,846) $ 2,765 865
=========== ============= ========== ======== ============= ============
10
Exhibit A
Enogex
Consolidating Statement of Income
Year Ended December 31, 1997
Enogex OGE Enogex Centoma Enogex
(dollars in thousands) Enogex Products Resources Exploration Gas Systems Consolidating Consolidated
Inc. Corporation Inc. Corporation Inc. Adjustments Statements
--------- ----------- --------- ----------- ----------- ------------- ------------
OPERATING REVENUES....................... $ 66,483 $ 55,025 $225,136 $ 20,968 $ 2,231 $ (47,883) $ 321,960
OPERATING EXPENSES:
Gas purchased for resale............... - 24,367 222,482 - 2,123 (47,511) 201,461
Other operation and maintenance........ 27,885 21,702 1,407 7,032 353 (379) 58,000
Depreciation........................... 15,498 2,421 1,194 8,384 51 - 27,548
Current income taxes................... 3,392 714 (146) (3,047) (160) - 753
Deferred income taxes, net............. 3,003 1,959 5 1,471 42 (152) 6,328
Taxes other than income................ 4,417 511 44 35 8 - 5,015
--------- ----------- --------- ----------- ----------- ------------- ------------
Total operating expenses............. 54,195 51,674 224,986 13,875 2,417 (48,042) 299,105
OPERATING INCOME......................... 12,288 3,351 150 7,093 (186) 159 22,855
OTHER INCOME AND DEDUCTIONS:
Interest income........................ 5,007 53 37 2 1 (4,929) 171
Other.................................. 256 3,168 371 124 1 (400) 3,520
Income from subsidiaries............... 9,236 - - - - (9,236) -
--------- ----------- --------- ----------- ----------- ------------- ------------
Net other income and deductions ..... 14,499 3,221 408 126 2 (14,565) 3,691
INTEREST CHARGES:
Interest on long-term debt............. 9,292 - - - - - 9,292
Other.................................. 1,015 1,891 832 2,204 2 (4,929) 1,015
--------- ----------- --------- ----------- ----------- ------------- ------------
Total interest charges, net.......... 10,307 1,891 832 2,204 2 (4,929) 10,307
--------- ----------- --------- ----------- ----------- ------------- ------------
NET INCOME (LOSS)........................ $ 16,480 $ 4,681 $ (274) $ 5,015 $ (186) $ (9,477) $ 16,239
========= =========== ========= =========== =========== ============= ============
11
Exhibit A
Enogex
Consolidating Statement of Retained Earnings
Year Ended December 31, 1997
Enogex OGE Enogex Centoma Enogex
(dollars in thousands) Enogex Products Resources Exploration Gas Systems Consolidating Consolidated
Inc. Corporation Inc. Corporation Inc. Adjustments Statements
--------- ----------- --------- ----------- ----------- ------------- ------------
BALANCE AT BEGINNING OF PERIOD........... $ 3,841 $ 992 $ 993 $ 1,928 $ (3,854) $ - $ 3,900
ADD - net income (loss).................. 16,480 4,681 (274) 5,015 (186) (9,477) 16,239
--------- ----------- --------- ----------- ----------- ------------- ------------
Total................................ 20,321 5,673 719 6,943 (4,040) (9,477) 20,139
DEDUCT:
Cash dividends declared
on common stock...................... 4,000 - - - - - 4,000
Other.................................. - - - - (4,040) 4,040 -
--------- ----------- --------- ----------- ----------- ------------- ------------
Total Cash Dividends................. 4,000 - - - (4,040) 4,040 4,000
--------- ----------- --------- ----------- ----------- ------------- ------------
BALANCE AT END OF PERIOD................. $ 16,321 $ 5,673 $ 719 $ 6,943 $ - $ (13,517) $ 16,139
========= =========== ========= =========== =========== ============= ============
12
Exhibit A
Enogex
Consolidating Balance Sheet
December 31, 1997
Enogex OGE Enogex Centoma Enogex
(dollars in thousands) Enogex Products Resources Exploration Gas Systems Consolidating Consolidated
Inc. Corporation Inc. Corporation Inc. Adjustments Statements
--------- ----------- --------- ----------- ----------- ------------- ------------
ASSETS
PROPERTY, PLANT & EQUIPMENT
In service............................. $334,199 $ 64,222 $ 43 $ 78,523 $ - $ - $ 476,987
Construction work in progress.......... 5,213 1,677 - - - - 6,890
--------- ----------- --------- ----------- ----------- ------------- ------------
Total property, plant and equipment.. 339,412 65,899 43 78,523 - - 483,877
Less accumulated depreciation...... 105,737 13,964 36 24,271 - - 144,008
--------- ----------- --------- ----------- ----------- ------------- ------------
Net property, plant and equipment...... 233,675 51,935 7 54,252 - - 339,869
OTHER PROPERTY AND INVESTMENTS, at cost.. 31,670 - - 64 - (29,802) 1,932
CURRENT ASSETS:
Cash and cash equivalents.............. - 571 5,235 - - (1,953) 3,853
Accounts receivable - customers,
less reserve of $924................. 2,029 1,727 19,445 2,744 - (483) 25,462
Accounts receivable - affiliates....... 86,695 4,154 4,666 - - (82,246) 13,269
Accrued utility revenues............... - - - - - - -
Accounts receivable-other.............. 727 178 16 - - 483 1,404
Fuel inventories, at LIFO cost......... - - 5,852 - - (60) 5,792
Materials and supplies, at
average cost......................... 3,692 258 - - - - 3,950
Prepayments and other.................. 1,045 59 65 786 - - 1,955
Accumulated deferred tax assets........ 629 - 248 - - - 877
--------- ----------- --------- ----------- ----------- ------------- ------------
Total current assets................. 94,817 6,947 35,527 3,530 - (84,259) 56,562
DEFERRED CHARGES 10,203 2,169 7,400 303 - (459) 19,616
--------- ----------- --------- ----------- ----------- ------------- ------------
TOTAL ASSETS............................. $370,365 $ 61,051 $ 42,934 $ 58,149 $ - $ (114,520) $ 417,979
========= =========== ========= =========== =========== ============= ============
13
Exhibit A
Enogex
Consolidating Balance Sheet
December 31, 1997
Enogex OGE Enogex Centoma Enogex
(dollars in thousands) Enogex Products Resources Exploration Gas Systems Consolidating Consolidated
Inc. Corporation Inc. Corporation Inc. Adjustments Statements
--------- ----------- --------- ----------- ----------- ------------- ------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common stock and retained earnings..... $149,845 $ 9,385 $ 722 $ 19,694 $ - $ (29,838) $ 149,808
Long-term debt......................... 150,000 - - - - - 150,000
--------- ----------- --------- ----------- ----------- ------------- ------------
Total capitalization................. 299,845 9,385 722 19,694 - (29,838) 299,808
CURRENT LIABILITIES:
Accounts payable - affiliates.......... 1,002 36,886 16,972 28,685 - (82,246) 1,299
Accounts payable - other............... 2,709 2,621 23,760 1,792 - (1,912) 28,970
Customers' deposits.................... 1 - - - - - 1
Accrued taxes.......................... 1,721 377 7 28 - (41) 2,092
Accrued interest....................... 4,295 - - - - - 4,295
Other.................................. 2,182 78 850 21 - - 3,131
--------- ----------- --------- ----------- ----------- ------------- ------------
Total current liabilities............ 11,910 39,962 41,589 30,526 - (84,199) 39,788
DEFERRED CREDITS AND OTHER LIABILITIES:
Accrued pension and benefit obligation. 4,605 - - - - - 4,605
Accumulated deferred income taxes...... 51,732 4,654 3 7,929 - (23) 64,295
Other.................................. 2,273 7,050 620 - - (460) 9,483
--------- ----------- --------- ----------- ----------- ------------- ------------
Total deferred credits and other
liabilities........................ 58,610 11,704 623 7,929 - (483) 78,383
--------- ----------- --------- ----------- ----------- ------------- ------------
TOTAL CAPITALIZATION AND LIABILITIES..... $370,365 $ 61,051 $ 42,934 $ 58,149 $ - $ (114,520) $ 417,979
========= =========== ========= =========== =========== ============= ============
14
Exhibit A
Enogex Products Corporation
Consolidating Statement of Income
Year Ended December 31, 1997
Enogex NuStar
(dollars in thousands) Products Joint Consolidating Consolidated
Corporation Venture Adjustments Statements
----------- ------------- ------------- ------------
OPERATING REVENUES................................ $ 37,975 $ 17,050 $ - $ 55,025
OPERATING EXPENSES:
Gas purchased for resale........................ 13,701 10,666 - 24,367
Other operation and maintenance................. 17,400 4,157 145 21,702
Depreciation.................................... 1,457 964 - 2,421
Current income taxes............................ 714 - - 714
Deferred income taxes, net...................... 1,959 - - 1,959
Taxes other than income......................... 318 193 - 511
----------- ------------- ------------- ------------
Total operating expenses...................... 35,549 15,980 145 51,674
OPERATING INCOME.................................. 2,426 1,070 (145) 3,351
OTHER INCOME AND DEDUCTIONS:
Interest income................................. 25 28 - 53
Other........................................... 4,101 447 (1,380) 3,168
----------- ------------- ------------- ------------
Net other income and deductions............... 4,126 475 (1,380) 3,221
INTEREST CHARGES.................................. 1,871 20 - 1,891
----------- ------------- ------------- ------------
NET INCOME (LOSS)................................. $ 4,681 $ 1,525 $ (1,525) $ 4,681
=========== ============= ============= ============
15
Exhibit A
Enogex Products Corporation
Consolidating Statement of Retained Earnings
Year Ended December 31, 1997
Enogex NuStar
(dollars in thousands) Products Joint Consolidating Consolidated
Corporation Venture Adjustments Statements
----------- ------------- ------------- ------------
BALANCE AT BEGINNING OF PERIOD.................... $ 992 $ - $ - $ 992
ADD - net income (loss)........................... 4,681 1,525 (1,525) 4,681
----------- ------------- ------------- ------------
BALANCE AT END OF PERIOD.......................... $ 5,673 $ 1,525 $ (1,525) $ 5,673
=========== ============= ============= ============
16
Exhibit A
Enogex Products Corporation
Consolidating Balance Sheet
December 31, 1997
Enogex NuStar
(dollars in thousands) Products Joint Consolidating Consolidated
Corporation Venture Adjustments Statements
----------- ------------- ------------- ------------
ASSETS
PROPERTY, PLANT & EQUIPMENT:
In service...................................... $ 31,117 $ 33,105 $ - $ 64,222
Construction work in progress................... 27 1,650 - 1,677
----------- ------------- ------------- ------------
Total property, plant and equipment........... 31,144 34,755 - 65,899
Less accumulated depreciation............... 13,000 964 - 13,964
----------- ------------- ------------- ------------
Net property, plant and equipment............... 18,144 33,791 - 51,935
OTHER PROPERTY AND INVESTMENTS, at cost........... 26,240 - (26,240) -
CURRENT ASSETS:
Cash and cash equivalents....................... 219 352 - 571
Accounts receivable - customers................. 1,326 401 - 1,727
Accounts receivable - affiliates................ 3,502 652 - 4,154
Accrued utility revenues........................ - - - -
Accounts receivable-other....................... (305) 483 - 178
Fuel inventories, at LIFO cost.................. - - - -
Materials and supplies, at average cost......... - 258 - 258
Prepayments and other........................... 14 45 - 59
Accumulated deferred tax assets................. - - - -
----------- ------------- ------------- ------------
Total current assets.......................... 4,756 2,191 - 6,947
DEFERRED CHARGES.................................. 2,032 137 - 2,169
----------- ------------- ------------- ------------
TOTAL ASSETS...................................... $ 51,172 $ 36,119 $ (26,240) $ 61,051
=========== ============= ============= ============
17
Exhibit A
Enogex Products Corporation
Consolidating Balance Sheet
December 31, 1997
Enogex NuStar
(dollars in thousands) Products Joint Consolidating Consolidated
Corporation Venture Adjustments Statements
----------- ------------- ------------- ------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common stock and retained earnings.............. $ 9,385 $ 32,800 $ (32,800) $ 9,385
----------- ------------- ------------- ------------
Total capitalization.......................... 9,385 32,800 (32,800) 9,385
CURRENT LIABILITIES:
Accounts payable - affiliates................... 35,559 1,327 - 36,886
Accounts payable - other........................ 1,379 1,242 - 2,621
Accrued taxes................................... 101 276 - 377
Other........................................... 40 38 - 78
----------- ------------- ------------- ------------
Total current liabilities..................... 37,079 2,883 - 39,962
DEFERRED CREDITS AND OTHER LIABILITIES:
Accumulated deferred income taxes............... 4,654 - - 4,654
Other........................................... 54 436 6,560 7,050
----------- ------------- ------------- ------------
Total deferred credits and other liabilities.. 4,708 436 6,560 11,704
----------- ------------- ------------- ------------
TOTAL CAPITALIZATION AND LIABILITIES.............. $ 51,172 $ 36,119 $ (26,240) $ 61,051
=========== ============= ============= ============
18
Exhibit A
Origen
Consolidating Statement of Income
Year Ended December 31, 1997
OGE Origen
(dollars in thousands) Origen Energy Consolidating Consolidated
Inc. Technologies GD&E Adjustments Statements
--------- ------------ ---------- ------------- ------------
OPERATING REVENUES................................ $ - $ - $ 345 $ - $ 345
OPERATING EXPENSES:
Other operation and maintenance................. 102 1,519 847 - 2,468
Depreciation.................................... - - 28 - 28
Current income taxes............................ (637) (609) (210) - (1,456)
Taxes other than income......................... - 21 33 - 54
--------- ------------ ---------- ------------- ------------
Total operating expenses...................... (535) 931 698 - 1,094
OPERATING INCOME.................................. 535 (931) (353) - (749)
OTHER INCOME AND DEDUCTIONS:
Interest income................................. 188 - 18 (54) 152
Other........................................... (966) - - 966 -
Income from subsidiaries........................ (336) - - 336 -
--------- ------------ ---------- ------------- ------------
Net other income and deductions............... (1,114) - 18 1,248 152
INTEREST CHARGES.................................. 149 35 1 (54) 131
--------- ------------ ---------- ------------- ------------
NET INCOME (LOSS)................................. $ (728) $ (966) $ (336) $ 1,302 $ (728)
========= ============ ========== ============= ============
19
Exhibit A
Origen
Consolidating Statement of Retained Earnings
Year Ended December 31, 1997
OGE Origen
(dollars in thousands) Origen Energy Consolidating Consolidated
Inc. Technologies GD&E Adjustments Statements
--------- ------------ ---------- ------------- ------------
BALANCE AT BEGINNING OF PERIOD.................... $ - $ - $ - $ - $ -
ADD - net income (loss)........................... (728) (966) (336) 1,302 (728)
--------- ------------ ---------- ------------- ------------
BALANCE AT END OF PERIOD.......................... $ (728) $ (966) $ (336) $ 1,302 $ (728)
========= ============ ========== ============= ============
20
Exhibit A
Origen
Consolidating Balance Sheet
December 31, 1997
OGE Origen
(dollars in thousands) Origen Energy Consolidating Consolidated
Inc. Technologies GD&E Adjustments Statements
--------- ------------ ---------- ------------- ------------
ASSETS
PROPERTY, PLANT & EQUIPMENT:
In service...................................... $ - $ - $ 268 $ - $ 268
--------- ------------ ---------- ------------- ------------
Total property, plant and equipment........... - - 268 - 268
Less accumulated depreciation............... - - 27 - 27
--------- ------------ ---------- ------------- ------------
Net property, plant and equipment............... - - 241 - 241
OTHER PROPERTY AND INVESTMENTS, at cost........... 3,836 - - 300 4,136
CURRENT ASSETS:
Cash and cash equivalents....................... - - 1 - 1
Accounts receivable - affiliates................ 1,473 - 128 (1,601) -
Accounts receivable - other..................... - - 271 - 271
--------- ------------ ---------- ------------- ------------
Total current assets.......................... 1,473 - 400 (1,601) 272
--------- ------------ ---------- ------------- ------------
TOTAL ASSETS...................................... $ 5,309 $ - $ 641 $ (1,301) $ 4,649
========= ============ ========== ============= ============
21
Exhibit A
Origen
Consolidating Balance Sheet
December 31, 1997
OGE Origen
(dollars in thousands) Origen Energy Consolidating Consolidated
Inc. Technologies GD&E Adjustments Statements
--------- ------------ ---------- ------------- ------------
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common stock and retained earnings.............. $ 4,273 $ (966) $ 666 $ 300 $ 4,273
--------- ------------ ---------- ------------- ------------
Total capitalization.......................... 4,273 (966) 666 300 4,273
CURRENT LIABILITIES:
Accounts payable - affiliates................... 2,036 864 (210) (1,601) 1,089
Accounts payable - other........................ - 100 (1) - 99
Accrued taxes................................... (1,000) - - - (1,000)
Other........................................... - 2 - - 2
--------- ------------ ---------- ------------- ------------
Total current liabilities..................... 1,036 966 (211) (1,601) 190
DEFERRED CREDITS AND OTHER LIABILITIES............ - - 186 - 186
--------- ------------ ---------- ------------- ------------
TOTAL CAPITALIZATION AND LIABILITIES.............. $ 5,309 $ - $ 641 $ (1,301) $ 4,649
========= ============ ========== ============= ============
22
OPUR3
1,000
YEAR
DEC-31-1997
JAN-1-1997
DEC-31-1997
PER-BOOK
2,765,865
1,472,307
132,550
