Exhibit 99.1
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In re: Endeavour Operating Corporation, et al.1 | Case No. 14-12308 Reporting Period: 11/1/2014 – 11/30/2014 |
MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after end of month
Submit copy of report to any official committee appointed in the case.
REQUIRED DOCUMENTS | Form No. | Document Attached | Explanation Attached | Affidavit/ Supplement Attached | ||||||||||||
Schedule of Cash Receipts and Disbursements | MOR-1 | YES | NO | NO | ||||||||||||
Bank Reconciliation (or copies of debtor’s bank reconciliations) | MOR-1a | NO | YES | YES | ||||||||||||
Schedule of Professional Fees Paid | MOR-1b | YES | NO | NO | ||||||||||||
Copies of bank statements | ||||||||||||||||
Cash disbursements journals | ||||||||||||||||
Statement of Operations | MOR-2 | YES | NO | NO | ||||||||||||
Balance Sheet | MOR-3 | YES | NO | NO | ||||||||||||
Status of Post-petition Taxes | MOR-4 | YES | NO | NO | ||||||||||||
Copies of IRS Form 6123 or payment receipt | ||||||||||||||||
Copies of tax returns filed during reporting period | ||||||||||||||||
Summary of Unpaid Post-petition Debts | MOR-4 | YES | NO | NO | ||||||||||||
Listing of aged accounts payable | MOR-4 | YES | NO | NO | ||||||||||||
Accounts Receivable Reconciliation and Aging | MOR-5 | YES | NO | NO | ||||||||||||
Debtor Questionnaire | MOR-5 | YES | NO | NO |
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.
Signature of Debtor |
Date | |||
Signature of Joint Debtor |
Date | |||
/s/ Catherine L. Stubbs | ||||
Signature of Authorized Individual* |
Date | |||
Catherine L. Stubbs | Senior Vice President and CFO | |||
Printed Name of Authorized Individual | Title of Authorized Individual |
* | Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company. |
1 | The Debtors in these chapter 11 cases and the last four digits of each Debtor’s taxpayer identification number are as follows: Endeavour Operating Corporation (6552); Endeavour International Corporation (8389); Endeavour Colorado Corporation (0067); END Management Company (7578); Endeavour Energy New Ventures Inc. (7563); Endeavour Energy Luxembourg S.à r.l. (2113). The Debtors’ principal offices are located at 811 Main Street, Suite 2100, Houston, Texas 77002. |
In reEndeavour Operating Corporation, et al. Debtor | Case No.14-12308 Reporting Period:11/1/2014 – 11/30/2014 |
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
Amounts reported should be per the debtor’s books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filled. The amounts reported in the “CURRENT MONTH—ACTUAL” column must equal the sum of the four bank account columns. The amounts reported in the “PROJECTED” columns should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursements listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CONT)]
BANK ACCOUNTS | CURRENT MONTH | CUMULATIVE FILING TO DATE | ||||||||||||||
OPER. | PAYROLL | TAX | OTHER | ACTUAL | PROJECTED | ACTUAL | PROJECTED | |||||||||
CASH BEGINNING OF MONTH | SEE EXHIBIT A | |||||||||||||||
RECEIPTS | ||||||||||||||||
CASH SALES | ||||||||||||||||
ACCOUNTS RECEIVABLE | ||||||||||||||||
LOANS AND ADVANCES | ||||||||||||||||
SALE OF ASSETS | ||||||||||||||||
OTHER (ATTACH LIST) | ||||||||||||||||
TRANSFERS (FROM DIP ACCTS) | ||||||||||||||||
TOTAL RECEIPTS | ||||||||||||||||
DISBURSEMENTS | ||||||||||||||||
NET PAYROLL | ||||||||||||||||
PAYROLL TAXES | ||||||||||||||||
SALES, USE & OTHER TAXES | ||||||||||||||||
INVENTORY PURCHASES | ||||||||||||||||
SECURED RENTAL/LEASES | ||||||||||||||||
INSURANCE | ||||||||||||||||
ADMINISTRATIVE | ||||||||||||||||
SELLING | ||||||||||||||||
OTHER (ATTACH LIST) | ||||||||||||||||
OWNER DRAW* | ||||||||||||||||
TRANSFERS (TO DIP ACCTS) | ||||||||||||||||
PROFESSIONAL FEES | ||||||||||||||||
U.S. TRUSTEE QUARTERLY FEES | ||||||||||||||||
COURT COSTS | ||||||||||||||||
TOTAL DISBURSEMENTS | ||||||||||||||||
NET CASH FLOW | ||||||||||||||||
(RECEIPTS LESS DISBURSEMENTS) | ||||||||||||||||
CASH - END OF MONTH |
* | COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE |
THE FOLLOWING SECTION MUST BE COMPLETED
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (FROM CURRENT MONTH ACTUAL COLUMN) | ||||
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TOTAL DISBURSEMENTS | $ | |||
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LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS | $ | |||
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts) | $ | |||
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TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES | $ | |||
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EXHIBIT A
Schedule of Cash Receipts and Disbursements
(In Millions) | October 11, 2014 - | November 1, 2014 - | October 11, 2014 - | |||||||||
October 31, 2014 | November 30, 2014 | November 30, 2014 | ||||||||||
Cash, Beginning of Period | $ | 37.0 | $ | 37.30 | $ | 37.00 | ||||||
Inflows: | ||||||||||||
US Revenue | 0.3 | 0.5 | 0.8 | |||||||||
Misc Revenue | — | 0.6 | 0.6 | |||||||||
JIB Receipts | 0.6 | — | 0.6 | |||||||||
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Total Inflows | $ | 0.90 | $ | 1.1 | $ | 2.0 | ||||||
Outflows: | ||||||||||||
Capital Projects | $ | (0.1 | ) | $ | (0.7 | ) | (0.8 | ) | ||||
Operating Costs | — | (0.1 | ) | (0.1 | ) | |||||||
G&A/Other | (0.4 | ) | (2.5 | ) | (2.9 | ) | ||||||
Professionals | (0.1 | ) | — | (0.1 | ) | |||||||
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Total Outflows | $ | (0.60 | ) | $ | (3.30 | ) | $ | (3.90 | ) | |||
IC Transfers: | ||||||||||||
Restructuring Costs | $ | — | $ | — | $ | — | ||||||
US G&A | — | — | — | |||||||||
US Capex | — | — | — | |||||||||
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Net Cash Flow | $ | 0.30 | $ | (2.20 | ) | $ | (1.90 | ) | ||||
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Cash, End of Period | $ | 37.3 | $ | 35.1 | $ | 35.1 | ||||||
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Note: All Cash Receipts and Disbursements are through Endeavour Operating Corp.
In re Endeavour International Corporation, et al.,
Debtor1 | Case No.: | 14-12308 | ||
MOR-1a | Reporting Period: | 11/1/2014 – 11/30/2014 |
For the Period November 1, 2014 to November 30, 2014
Declaration Regarding the Reconciliation of the Debtor’s Bank Accounts as of November 30, 2014
Catherine L. Stubbs hereby declares under penalty of perjury:
1. | I am the Chief Financial Officer for Endeavour International Corporation, the above-captioned debtors and debtors in possession (collectively, the “Debtors”). I am familiar with the Debtors’ day-to-day operations, business, affairs and books and records. |
2. | All statements in this Declaration are based on my personal knowledge, my review of the relevant documents, my discussions with other employees of the Debtors, or my opinion based upon my experience and knowledge of the Debtors’ operations and financial condition. If I were called upon to testify, I could and would testify to each of the facts set forth herein based on such personal knowledge, review of documents or opinion. I am authorized to submit this Declaration on behalf of the Debtors. |
3. | To the best of my knowledge, the Debtors’ bank balances as of November 30, 2014 have been reconciled in an accurate and timely manner with exception of the bank balances for the Luxembourg Deposit Account, ending in-0000, which, in the normal course of business, are received two months in arrears. Copies of the bank reconciliations are available for inspection upon request by the Office of the United States Trustee. |
Dated: December 19, 2014 | Respectfully submitted, | |||||
/s/ Catherine L. Stubbs | ||||||
By: | Catherine L. Stubbs | |||||
Senior Vice President & CFO |
1 | The Debtors in these chapter 11 cases and the last four digits of each Debtor’s taxpayer identification number are as follows: Endeavour Operating Corporation (6552); Endeavour International Corporation (8389); Endeavour Colorado Corporation (0067); END Management Company (7578); Endeavour Energy New Ventures Inc. (7563); Endeavour Energy Luxembourg S.à r.l. (2113). The Debtors’ principal offices are located at 811 Main Street, Suite 2100, Houston, Texas 77002. |
In reEndeavour International Corporation, et al., | Case No.14-12308 | |
Debtor | Reporting Period:11/1/2014 -11/30/2014 |
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month.
Payee | Period Covered | Amount Covered | Payor | Check | Amount Paid | Year-To-Date | ||||||||||||||||||||||||
Number | Date | Fees | Expenses | Fees | Expenses | |||||||||||||||||||||||||
Houlihan Lokey Capital, Inc. | 10/10/2014 - 10/31/2014 | $ | 100,000.00 | Endeavour International Corporation | CHIP REF: 516099**3 | 10/31/2014 | $ | 100,000.00 | $ | 0 | $ | 100,000.00 | $ | 0 | ||||||||||||||||
Centerview Partners | 11/1/2014 - 11/30/2014 | $ | 176,069.13 | Endeavour International Corporation | CHASE REF: 4324LON***0 | 11/21/2014 | $ | 175,000.00 | $ | 1,069.13 | $ | 176,069.13 | $ | 1,069.13 | ||||||||||||||||
Kurtzman Carson Consultants | 11/1/2014 - 11/30/2014 | $ | 13,968.00 | Endeavour International Corporation | CHIP REF: 484138**4 | 11/10/2014 | $ | 13,968.00 | $ | 0 | $ | 0 | $ | 13,968.00 |
FORM MOR-1b
(04/07)
In re Endeavour Operating Corporation, et al. | Case No. 14-12308 | |
Debtor | Reporting Period: 11/1/2014 – 11/30/2014 |
STATEMENT OF OPERATIONS
(Income Statement)
The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.
Month | Cumulative Filing to Date | |||||||
SEE ATTACHED EXHIBIT B | ||||||||
REVENUES | ||||||||
Gross Revenues | ||||||||
Less: Returns and Allowances | ||||||||
Net Revenue | $ | $ | ||||||
COST OF GOODS SOLD | ||||||||
Beginning Inventory | ||||||||
Add: Purchases | ||||||||
Add: Cost of Labor | ||||||||
Add: Other Costs (attach schedule) | ||||||||
Less: Ending Inventory | ||||||||
Cost of Goods Sold | ||||||||
Gross Profit | ||||||||
OPERATING EXPENSES | ||||||||
Advertising | ||||||||
Auto and Truck Expense | ||||||||
Bad Debts | ||||||||
Contributions | ||||||||
Employee Benefits Programs | ||||||||
Insider Compensation* | ||||||||
Insurance | ||||||||
Management Fees/Bonuses | ||||||||
Office Expense | ||||||||
Pension & Profit-Sharing Plans | ||||||||
Repairs and Maintenance | ||||||||
Rent and Lease Expense | ||||||||
Salaries/Commissions/Fees | ||||||||
Supplies | ||||||||
Taxes - Payroll | ||||||||
Taxes - Real Estate | ||||||||
Taxes - Other | ||||||||
Travel and Entertainment | ||||||||
Utilities | ||||||||
Other (attach schedule) | ||||||||
Total Operating Expenses Before Depreciation | ||||||||
Depreciation/Depletion/Amortization | ||||||||
Net Profit (Loss) Before Reorganization Items | ||||||||
OTHER INCOME AND EXPENSES | ||||||||
Other Income (attach schedule) | ||||||||
Interest Expense | ||||||||
Other Expense (attach schedule) | ||||||||
Net Profit (Loss) Before Reorganization Items | ||||||||
REORGANIZATION ITEMS | ||||||||
Professional Fees | ||||||||
U.S. Trustee Quarterly Fees | ||||||||
Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet) | ||||||||
Gain (Loss) from Sale of Equipment | ||||||||
Other Reorganization Expenses (attach schedule) | ||||||||
Total Reorganization Expenses | ||||||||
Income Taxes | ||||||||
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Net Profit (Loss) | $ | $ | ||||||
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* | “Insider” is defined in 11 U.S.C. Section 101(31). |
EXHIBIT B
Endeavour International Corporation Statement of Operations
October 11, 2014 - | November 1 2014 - | December 1, 2014 - | ||||||||||||||
October 31, 2014 | November 30, 2014 | December 31, 2014 | Cumulative | |||||||||||||
Oil Revenue | $ | — | $ | — | $ | — | ||||||||||
Gas Revenues | — | — | — | |||||||||||||
Liquids Revenues | — | — | — | |||||||||||||
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Revenue | $ | — | $ | — | $ | — | $ | — | ||||||||
Operating Expenses | $ | — | $ | — | $ | — | ||||||||||
Total DD&A Expense | — | — | — | |||||||||||||
Goodwill Impairment Loss | — | — | — | |||||||||||||
General & Administrative Expense | 1,430 | 87,282 | 88,712 | |||||||||||||
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Total Expenses | $ | 1,430 | $ | 87,282 | $ | — | $ | 88,712 | ||||||||
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Operating Profit (Loss) | $ | (1,430 | ) | $ | (87,282 | ) | $ | — | $ | (88,712 | ) | |||||
Gain/Loss on Derivative Instruments | $ | — | $ | — | $ | — | ||||||||||
Total Interest Expense | — | — | — | |||||||||||||
Interest Income | (3,752,903 | ) | (5,540,000 | ) | (9,292,903 | ) | ||||||||||
Transaction Costs | — | — | — | |||||||||||||
Total Letter of Credit Fees | — | — | — | |||||||||||||
Foreign Currency Exchange (Gain) Loss | — | — | — | |||||||||||||
Litigation Settlements | — | — | — | |||||||||||||
Net Other (Income) Expense | — | — | — | |||||||||||||
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Other Income (Expense) | $ | (3,752,903 | ) | $ | (5,540,000 | ) | $ | — | $ | (9,292,903 | ) | |||||
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Income (Loss) Before Tax & Preferred Dividends | $ | 3,751,473 | $ | 5,452,718 | $ | — | $ | 9,204,191 | ||||||||
Income Tax Expense | $ | — | $ | — | $ | — | ||||||||||
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Income (Loss) Before Preferred Dividends | $ | 3,751,473 | $ | 5,452,718 | $ | — | $ | 9,204,191 | ||||||||
Preferred Stock Dividends | $ | — | $ | — | $ | — | ||||||||||
Net Income (Loss) | $ | 3,751,473 | $ | 5,452,718 | $ | — | $ | 9,204,191 | ||||||||
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Endeavour Energy Luxembourg Sarl Statement of Operations
October 11, 2014 - | November 1 2014 - | December 1, 2014 - | ||||||||||||||
October 31, 2014 | November 30, 2014 | December 31, 2014 | Cumulative | |||||||||||||
Oil Revenue | $ | — | $ | — | $ | — | ||||||||||
Gas Revenues | — | — | — | |||||||||||||
Liquids Revenues | — | — | — | |||||||||||||
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Revenue | $ | — | $ | — | $ | — | $ | — | ||||||||
Operating Expenses | $ | — | $ | — | $ | — | ||||||||||
Total DD&A Expense | — | — | — | |||||||||||||
Goodwill Impairment Loss | — | — | — | |||||||||||||
General & Administrative Expense | 50,924 | — | 50,924 | |||||||||||||
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Total Expenses | $ | 50,924 | $ | — | $ | — | $ | 50,924 | ||||||||
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Operating Profit (Loss) | $ | (50,924 | ) | $ | — | $ | — | $ | (50,924 | ) | ||||||
Gain/Loss on Derivative Instruments | $ | — | $ | — | $ | — | ||||||||||
Total Interest Expense | — | — | — | |||||||||||||
Interest Income | — | — | — | |||||||||||||
Transaction Costs | — | — | — | |||||||||||||
Total Letter of Credit Fees | — | — | — | |||||||||||||
Foreign Currency Exchange (Gain) Loss | (110 | ) | (202 | ) | (311 | ) | ||||||||||
Litigation Settlements | — | — | — | |||||||||||||
Net Other (Income) Expense | — | — | — | |||||||||||||
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Other Income (Expense) | $ | (110 | ) | $ | (202 | ) | $ | — | $ | (311 | ) | |||||
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Income (Loss) Before Tax & Preferred Dividends | $ | (50,814 | ) | $ | 202 | $ | — | $ | (50,613 | ) | ||||||
Income Tax Expense | $ | — | $ | — | $ | — | ||||||||||
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Income (Loss) Before Preferred Dividends | $ | (50,814 | ) | $ | 202 | $ | — | $ | (50,613 | ) | ||||||
Preferred Stock Dividends | $ | — | $ | — | $ | — | ||||||||||
Net Income (Loss) | $ | (50,814 | ) | $ | 202 | $ | — | $ | (50,613 | ) | ||||||
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Endeavour New Ventures, Inc. Statement of Operations
October 11, 2014 - | November 1 2014 - | December 1, 2014 - | ||||||||||||||
October 31, 2014 | November 30, 2014 | December 31, 2014 | Cumulative | |||||||||||||
Oil Revenue | $ | — | $ | — | $ | — | ||||||||||
Gas Revenues | — | — | — | |||||||||||||
Liquids Revenues | — | — | — | |||||||||||||
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Revenue | $ | — | $ | — | $ | — | $ | — | ||||||||
Operating Expenses | $ | — | $ | — | $ | — | ||||||||||
Total DD&A Expense | — | — | — | |||||||||||||
Goodwill Impairment Loss | — | — | — | |||||||||||||
General & Administrative Expense | — | — | — | |||||||||||||
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Total Expenses | $ | — | $ | — | $ | — | $ | — | ||||||||
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Operating Profit (Loss) | $ | — | $ | — | $ | — | $ | — | ||||||||
Gain/Loss on Derivative Instruments | $ | — | $ | — | $ | — | ||||||||||
Total Interest Expense | — | — | — | |||||||||||||
Interest Income | — | — | — | |||||||||||||
Transaction Costs | — | — | — | |||||||||||||
Total Letter of Credit Fees | — | — | — | |||||||||||||
Foreign Currency Exchange (Gain) Loss | — | — | — | |||||||||||||
Litigation Settlements | — | — | — | |||||||||||||
Net Other (Income) Expense | — | — | — | |||||||||||||
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Other Income (Expense) | $ | — | $ | — | $ | — | $ | — | ||||||||
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Income (Loss) Before Tax & Preferred Dividends | $ | — | $ | — | $ | — | — | |||||||||
Income Tax Expense | $ | — | $ | — | $ | — | ||||||||||
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Income (Loss) Before Preferred Dividends | $ | — | $ | — | $ | — | $ | — | ||||||||
Preferred Stock Dividends | $ | — | $ | — | $ | — | ||||||||||
Net Income (Loss) | $ | — | $ | — | $ | — | $ | — | ||||||||
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Endeavour Management Company Statement of Operations
October 11, 2014 - | November 1 2014 - | December 1, 2014 - | ||||||||||||||
October 31, 2014 | November 30, 2014 | December 31, 2014 | Cumulative | |||||||||||||
Oil Revenue | $ | — | $ | — | $ | — | ||||||||||
Gas Revenues | — | — | — | |||||||||||||
Liquids Revenues | — | — | — | |||||||||||||
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Revenue | $ | — | $ | — | $ | — | $ | — | ||||||||
Operating Expenses | $ | — | $ | — | $ | — | ||||||||||
Total DD&A Expense | — | — | — | |||||||||||||
Goodwill Impairment Loss | — | — | — | |||||||||||||
General & Administrative Expense | — | — | — | |||||||||||||
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Total Expenses | $ | — | $ | — | $ | — | $ | — | ||||||||
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Operating Profit (Loss) | $ | — | $ | — | $ | — | $ | — | ||||||||
Gain/Loss on Derivative Instruments | $ | — | $ | — | $ | — | ||||||||||
Total Interest Expense | — | — | — | |||||||||||||
Interest Income | — | — | — | |||||||||||||
Transaction Costs | — | — | — | |||||||||||||
Total Letter of Credit Fees | — | — | — | |||||||||||||
Foreign Currency Exchange (Gain) Loss | — | — | — | |||||||||||||
Litigation Settlements | — | — | — | |||||||||||||
Net Other (Income) Expense | — | — | — | |||||||||||||
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Other Income (Expense) | $ | — | $ | — | $ | — | $ | — | ||||||||
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Income (Loss) Before Tax & Preferred Dividends | $ | — | $ | — | $ | — | $ | — | ||||||||
Income Tax Expense | $ | — | $ | — | $ | — | ||||||||||
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Income (Loss) Before Preferred Dividends | $ | — | $ | — | $ | — | $ | — | ||||||||
Preferred Stock Dividends | $ | — | $ | — | $ | — | ||||||||||
Net Income (Loss) | $ | — | $ | — | $ | — | $ | — | ||||||||
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Endeavour Colorado Corporation Statement of Operations
October 11, 2014 - | November 1 2014 - | December 1, 2014 - | ||||||||||||||
October 31, 2014 | November 30, 2014 | December 31, 2014 | Cumulative | |||||||||||||
Oil Revenue | $ | — | $ | — | $ | — | ||||||||||
Gas Revenues | — | — | — | |||||||||||||
Liquids Revenues | — | — | — | |||||||||||||
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Revenue | $ | — | $ | — | $ | — | $ | — | ||||||||
Operating Expenses | $ | 17 | $ | — | $ | 17 | ||||||||||
Total DD&A Expense | 232 | 345 | 577 | |||||||||||||
Goodwill Impairment Loss | — | — | — | |||||||||||||
General & Administrative Expense | — | — | — | |||||||||||||
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Total Expenses | $ | 249 | $ | 345 | $ | — | $ | 594 | ||||||||
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Operating Profit (Loss) | $ | (249 | ) | $ | (345 | ) | $ | — | $ | (594 | ) | |||||
Gain/Loss on Derivative Instruments | $ | — | $ | — | $ | — | ||||||||||
Total Interest Expense | — | (20,906 | ) | (20,906 | ) | |||||||||||
Interest Income | — | — | — | |||||||||||||
Transaction Costs | — | — | — | |||||||||||||
Total Letter of Credit Fees | — | — | — | |||||||||||||
Foreign Currency Exchange (Gain) Loss | — | — | — | |||||||||||||
Litigation Settlements | — | — | — | |||||||||||||
Net Other (Income) Expense | — | — | — | |||||||||||||
|
|
|
|
|
|
|
| |||||||||
Other Income (Expense) | $ | — | $ | (20,906 | ) | $ | — | $ | (20,906 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Income (Loss) Before Tax & Preferred Dividends | $ | (249 | ) | $ | 20,561 | $ | — | $ | 20,312 | |||||||
Income Tax Expense | $ | — | $ | — | $ | — | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Income (Loss) Before Preferred Dividends | $ | (249 | ) | $ | 20,561 | $ | — | $ | 20,312 | |||||||
Preferred Stock Dividends | $ | — | $ | — | $ | — | ||||||||||
Net Income (Loss) | $ | (249 | ) | $ | 20,561 | $ | — | $ | 20,312 | |||||||
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|
|
Endeavour Operating Corporation Statement of Operations
October 11, 2014 - | November 1 2014 - | December 1, 2014 - | ||||||||||||||
October 31, 2014 | November 30, 2014 | December 31, 2014 | Cumulative | |||||||||||||
Oil Revenue | $ | (308 | ) | $ | 481,252 | $ | 480,944 | |||||||||
Gas Revenues | 267,948 | 438,012 | 705,960 | |||||||||||||
Liquids Revenues | — | — | — | |||||||||||||
|
|
|
|
|
|
|
| |||||||||
Revenue | $ | 267,640 | $ | 919,264 | $ | — | $ | 1,186,904 | ||||||||
Operating Expenses | $ | 281,826 | $ | 471,302 | $ | 753,128 | ||||||||||
Total DD&A Expense | 76,954 | 148,293 | 225,247 | |||||||||||||
Goodwill Impairment Loss | — | — | — | |||||||||||||
General & Administrative Expense | 12,943 | 45,837 | 58,781 | |||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Expenses | $ | 371,723 | $ | 665,433 | $ | — | $ | 1,037,156 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Operating Profit (Loss) | $ | (104,083 | ) | $ | 253,831 | $ | — | $ | 149,748 | |||||||
Gain/Loss on Derivative Instruments | $ | — | $ | — | $ | — | ||||||||||
Total Interest Expense | 3,753,039 | 5,182,950 | 8,935,989 | |||||||||||||
Interest Income | (3,387,097 | ) | (5,000,000 | ) | (8,387,097 | ) | ||||||||||
Transaction Costs | 2,326,801 | 13,968 | 2,340,769 | |||||||||||||
Total Letter of Credit Fees | — | — | — | |||||||||||||
Foreign Currency Exchange (Gain) Loss | 152 | 360 | 512 | |||||||||||||
Litigation Settlements | — | — | — | |||||||||||||
Net Other (Income) Expense | (127,363 | ) | — | (127,363 | ) | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Other Income (Expense) | $ | 2,565,532 | $ | 197,278 | $ | — | $ | 2,762,811 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Income (Loss) Before Tax & Preferred Dividends | $ | (2,669,615 | ) | $ | 56,553 | $ | — | $ | (2,613,062 | ) | ||||||
Income Tax Expense | $ | — | $ | 50 | $ | 50 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Income (Loss) Before Preferred Dividends | $ | (2,669,615 | ) | $ | 56,503 | $ | — | $ | (2,613,112 | ) | ||||||
Preferred Stock Dividends | $ | — | $ | — | $ | — | ||||||||||
Net Income (Loss) | $ | (2,669,615 | ) | $ | 56,503 | $ | — | $ | (2,613,112 | ) | ||||||
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|
In re: Endeavour Operating Corporation, et. al | Case No. 14-12308 | |
Debtor | Reporting Period: 11/1/2014 – 11/30/2014 |
BALANCE SHEET
The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.
ASSETS CURRENT ASSETS | BOOK VALUE AT END OF CURRENT REPORTING MONTH | BOOK VALUE ON PETITION DATE | ||||||
Unrestricted Cash and Equivalents | SEE ATTACHED EXHIBIT C | |||||||
Restricted Cash and Cash Equivalents (see continuation sheet) | ||||||||
Accounts Receivable (Net) | ||||||||
Notes Receivable | ||||||||
Inventories | ||||||||
Prepaid Expenses | ||||||||
Professional Retainers | ||||||||
Other Current Assets (attach schedule) | ||||||||
TOTAL CURRENT ASSETS | $ | $ | ||||||
PROPERTY AND EQUIPMENT | ||||||||
Real Property and Improvements | ||||||||
Machinery and Equipment | ||||||||
Furniture, Fixtures and Office Equipment | ||||||||
Leasehold Improvements | ||||||||
Vehicles | ||||||||
Less Accumulated Depreciation | ||||||||
TOTAL PROPERTY & EQUIPMENT | $ | $ | ||||||
OTHER ASSETS | ||||||||
Loans to Insiders* | ||||||||
Other Assets (attach schedule) | ||||||||
TOTAL OTHER ASSETS | $ | $ | ||||||
|
|
|
| |||||
TOTAL ASSETS | $ | $ | ||||||
|
|
|
| |||||
LIABILITIES AND OWNER EQUITY LIABILITIES NOT SUBJECT TO COMPROMISE | BOOK VALUE AT END OF CURRENT REPORTING MONTH | BOOK VALUE ON PETITION DATE | ||||||
Accounts Payable | ||||||||
Taxes Payable (refer to FORM MOR-4) | ||||||||
Wages Payable | ||||||||
Notes Payable | ||||||||
Rent/Leases - Building/Equipment | ||||||||
Secured Debt/Adequate Protection Payments | ||||||||
Professional Fees | ||||||||
Amounts Due to Insiders* | ||||||||
Other Postpetition Liabilities (attach schedule) | ||||||||
TOTAL POSTPETITION LIABILITIES | $ | $ | ||||||
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition) | ||||||||
Secured Debt | ||||||||
Priority Debt | ||||||||
Unsecured Debt | ||||||||
TOTAL PRE-PETITION LIABILITIES | ||||||||
TOTAL LIABILITIES | $ | $ | ||||||
OWNER EQUITY | ||||||||
Capital Stock | ||||||||
Additional Paid-In Capital | ||||||||
Partners’ Capital Account | ||||||||
Owner’s Equity Account | ||||||||
Retained Earnings - Pre-Petition | ||||||||
Retained Earnings - Postpetition | ||||||||
Adjustments to Owner Equity (attach schedule) | ||||||||
Postpetition Contributions (Distributions)(Draws)(attach schedule) | ||||||||
NET OWNER EQUITY | $ | $ | ||||||
|
|
|
| |||||
TOTAL LIABILITIES AND OWNERS’ EQUITY | $ | $ | ||||||
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|
EXHIBIT C
Endeavour International Corporation Balance Sheet
October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2014 | |||||||||||||
Cash & Cash Equivalents | $ | — | $ | — | ||||||||||||
Restricted Cash - Current | — | — | ||||||||||||||
Accounts Receivables | — | — | ||||||||||||||
Intercompany Receivables | 469,404,392 | 475,419,391 | ||||||||||||||
Total Other Current Assets | 16,719,198 | 16,717,707 | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Current Assets | $ | 486,123,590 | $ | 492,137,098 | $ | — | $ | — | ||||||||
Property, Plant & Equipment | $ | — | $ | — | ||||||||||||
Investments | 57,661,973 | 57,661,973 | ||||||||||||||
Goodwill | — | — | ||||||||||||||
Restricted Cash | — | — | ||||||||||||||
Other Assets | — | — | ||||||||||||||
Long-Term Intercompany | 554,000,000 | 554,000,000 | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Long Term Assets | $ | 611,661,973 | $ | 611,661,973 | $ | — | $ | — | ||||||||
Total Assets | $ | 1,097,785,563 | $ | 1,103,799,071 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Accounts Payable | $ | — | $ | — | ||||||||||||
Total Accrued Expenses | 44,782,107 | 44,950,450 | ||||||||||||||
Current Maturities Of Debt | 693,598,349 | 693,598,349 | ||||||||||||||
Current Portion - Production Payment | — | — | ||||||||||||||
Debtor in Possession | — | — | ||||||||||||||
Taxes Payable | — | — | ||||||||||||||
Intercompany Payable | 669,430 | 648,349 | ||||||||||||||
Total Other Current Liabilities | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Current Liabilities | $ | 739,049,885 | $ | 739,197,148 | $ | — | $ | — | ||||||||
Long-Term Debt | $ | — | $ | — | ||||||||||||
Deferred Tax Liability | — | — | ||||||||||||||
ARO Liability | — | — | ||||||||||||||
Long Term - Production Payment | — | — | ||||||||||||||
Long Term Intercompany | — | — | ||||||||||||||
Other Long Term Liabilities | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Liabilities | $ | 739,049,885 | $ | 739,197,148 | $ | — | $ | — | ||||||||
Redeemable Preferred Stock | $ | 17,481,175 | $ | 17,481,175 | ||||||||||||
Preferred Stock | $ | 20 | $ | 20 | ||||||||||||
Common Stock | 53,013 | 53,013 | ||||||||||||||
APIC | 560,004,806 | 560,883,928 | ||||||||||||||
Treasury Stock | (586,841 | ) | (586,841 | ) | ||||||||||||
Accumulated Earnings (Deficit) | (218,216,496 | ) | (213,229,373 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Stockholders’ Equity | $ | 341,254,503 | $ | 347,120,748 | $ | — | $ | — | ||||||||
Total Liabilities & Stockholders’ Equity | $ | 1,097,785,563 | $ | 1,103,799,071 | $ | — | $ | — | ||||||||
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|
|
|
|
|
|
|
Endeavour Energy Luxembourg Sarl Balance Sheet
October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2014 | |||||||||||||
Cash & Cash Equivalents | $ | 45,899 | $ | 30,273 | ||||||||||||
Restricted Cash - Current | — | — | ||||||||||||||
Accounts Receivables | — | — | ||||||||||||||
Intercompany Receivables | — | — | ||||||||||||||
Total Other Current Assets | 228,730 | 228,730 | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Current Assets | $ | 274,629 | $ | 259,003 | $ | — | $ | — | ||||||||
Property, Plant & Equipment | $ | — | $ | — | ||||||||||||
Investments | — | — | ||||||||||||||
Goodwill | — | — | ||||||||||||||
Restricted Cash | — | — | ||||||||||||||
Other Assets | 2,708,461 | 2,708,461 | ||||||||||||||
Long-Term Intercompany | 78,245,339 | 78,245,339 | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Long Term Assets | $ | 80,953,800 | $ | 80,953,800 | $ | — | $ | — | ||||||||
Total Assets | $ | 81,228,430 | $ | 81,212,803 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Accounts Payable | $ | — | $ | — | ||||||||||||
Total Accrued Expenses | 174,471 | 174,471 | ||||||||||||||
Current Maturities Of Debt | 82,682,642 | 82,682,642 | ||||||||||||||
Current Portion - Production Payment | — | — | ||||||||||||||
Debtor in Possession | — | — | ||||||||||||||
Taxes Payable | 55,007 | 54,687 | ||||||||||||||
Intercompany Payable | 3,169,755 | 3,169,755 | ||||||||||||||
Total Other Current Liabilities | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Current Liabilities | $ | 86,081,875 | $ | 86,081,554 | $ | — | $ | — | ||||||||
Long-Term Debt | $ | — | $ | — | ||||||||||||
Deferred Tax Liability | — | — | ||||||||||||||
ARO Liability | — | — | ||||||||||||||
Long Term - Production Payment | — | — | ||||||||||||||
Long Term Intercompany | — | — | ||||||||||||||
Other Long Term Liabilities | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Liabilities | $ | 86,081,875 | $ | 86,081,554 | $ | — | $ | — | ||||||||
Redeemable Preferred Stock | $ | — | $ | — | ||||||||||||
Preferred Stock | $ | — | $ | — | ||||||||||||
Common Stock | — | — | ||||||||||||||
APIC | 37,485 | 37,485 | ||||||||||||||
Treasury Stock | — | — | ||||||||||||||
Accumulated Earnings (Deficit) | (4,890,930 | ) | (4,906,236 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Stockholders’ Equity | $ | (4,853,445 | ) | $ | (4,868,751 | ) | $ | — | $ | — | ||||||
Total Liabilities & Stockholders’ Equity | $ | 81,228,430 | $ | 81,212,803 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
Endeavour New Ventures, Inc. Balance Sheet
October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2014 | |||||||||||||
Cash & Cash Equivalents | $ | — | $ | — | ||||||||||||
Restricted Cash - Current | — | — | ||||||||||||||
Accounts Receivables | — | — | ||||||||||||||
Intercompany Receivables | 280,153 | 280,153 | ||||||||||||||
Total Other Current Assets | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Current Assets | $ | 280,153 | $ | 280,153 | $ | — | $ | — | ||||||||
Property, Plant & Equipment | $ | — | $ | — | ||||||||||||
Investments | — | — | ||||||||||||||
Goodwill | — | — | ||||||||||||||
Restricted Cash | — | — | ||||||||||||||
Other Assets | — | — | ||||||||||||||
Long-Term Intercompany | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Long Term Assets | $ | — | $ | — | $ | — | $ | — | ||||||||
Total Assets | $ | 280,153 | $ | 280,153 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Accounts Payable | $ | — | $ | — | ||||||||||||
Total Accrued Expenses | — | — | ||||||||||||||
Current Maturities Of Debt | — | — | ||||||||||||||
Current Portion - Production Payment | — | — | ||||||||||||||
Debtor in Possession | — | — | ||||||||||||||
Taxes Payable | — | — | ||||||||||||||
Intercompany Payable | — | — | ||||||||||||||
Total Other Current Liabilities | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Current Liabilities | $ | — | $ | — | $ | — | $ | — | ||||||||
Long-Term Debt | $ | — | $ | — | ||||||||||||
Deferred Tax Liability | — | — | ||||||||||||||
ARO Liability | — | — | ||||||||||||||
Long Term -Production Payment | — | — | ||||||||||||||
Long Term Intercompany | — | — | ||||||||||||||
Other Long Term Liabilities | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Liabilities | $ | — | $ | — | $ | — | $ | — | ||||||||
Redeemable Preferred Stock | $ | — | $ | — | ||||||||||||
Preferred Stock | $ | — | $ | — | ||||||||||||
Common Stock | 1 | 1 | ||||||||||||||
APIC | 3,478,898 | 3,478,898 | ||||||||||||||
Treasury Stock | — | — | ||||||||||||||
Accumulated Earnings (Deficit) | (3,198,746 | ) | (3,198,746 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Stockholders’ Equity | $ | 280,153 | $ | 280,153 | $ | — | $ | — | ||||||||
Total Liabilities & Stockholders’ Equity | $ | 280,153 | $ | 280,153 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
Endeavour Management Company Balance Sheet
October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2014 | |||||||||||||
Cash & Cash Equivalents | $ | — | $ | — | ||||||||||||
Restricted Cash - Current | — | — | ||||||||||||||
Accounts Receivables | — | — | ||||||||||||||
Intercompany Receivables | 648,349 | 648,349 | ||||||||||||||
Total Other Current Assets | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Current Assets | $ | 648,349 | $ | 648,349 | $ | — | $ | — | ||||||||
Property, Plant & Equipment | $ | 2,862,882 | $ | 2,862,882 | ||||||||||||
Investments | — | — | ||||||||||||||
Goodwill | — | — | ||||||||||||||
Restricted Cash | — | — | ||||||||||||||
Other Assets | — | — | ||||||||||||||
Long-Term Intercompany | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Long Term Assets | $ | 2,862,882 | $ | 2,862,882 | $ | — | $ | — | ||||||||
Total Assets | $ | 3,511,231 | $ | 3,511,231 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Accounts Payable | $ | — | $ | — | ||||||||||||
Total Accrued Expenses | — | — | ||||||||||||||
Current Maturities Of Debt | — | — | ||||||||||||||
Current Portion - Production Payment | — | — | ||||||||||||||
Debtor in Possession | — | — | ||||||||||||||
Taxes Payable | — | — | ||||||||||||||
Intercompany Payable | 14,354,530 | 14,354,530 | ||||||||||||||
Total Other Current Liabilities | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Current Liabilities | $ | 14,354,530 | $ | 14,354,530 | $ | — | $ | — | ||||||||
Long-Term Debt | $ | — | $ | — | ||||||||||||
Deferred Tax Liability | — | — | ||||||||||||||
ARO Liability | — | — | ||||||||||||||
Long Term - Production Payment | — | — | ||||||||||||||
Long Term Intercompany | — | — | ||||||||||||||
Other Long Term Liabilities | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Liabilities | $ | 14,354,530 | $ | 14,354,530 | $ | — | $ | — | ||||||||
Redeemable Preferred Stock | $ | — | $ | — | ||||||||||||
Preferred Stock | $ | — | $ | — | ||||||||||||
Common Stock | 10 | — | ||||||||||||||
APIC | 15,597,652 | 15,597,662 | ||||||||||||||
Treasury Stock | — | — | ||||||||||||||
Accumulated Earnings (Deficit) | (26,440,961 | ) | (26,440,961 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Stockholders’ Equity | $ | (10,843,299 | ) | $ | (10,843,299 | ) | $ | — | $ | — | ||||||
Total Liabilities & Stockholders’ Equity | $ | 3,511,231 | $ | 3,511,231 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
Endeavour Colorado Company Balance Sheet
October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2014 | |||||||||||||
Cash & Cash Equivalents | $ | — | $ | — | ||||||||||||
Restricted Cash - Current | — | — | ||||||||||||||
Accounts Receivables | 982,702 | 815,021 | ||||||||||||||
Intercompany Receivables | — | — | ||||||||||||||
Total Other Current Assets | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Current Assets | $ | 982,702 | $ | 815,021 | $ | — | $ | — | ||||||||
Property, Plant & Equipment | $ | 11,307,054 | $ | 11,447,515 | ||||||||||||
Investments | — | — | ||||||||||||||
Goodwill | — | — | ||||||||||||||
Restricted Cash | — | — | ||||||||||||||
Other Assets | — | — | ||||||||||||||
Long-Term Intercompany | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Long Term Assets | $ | 11,307,054 | $ | 11,447,515 | $ | — | $ | — | ||||||||
Total Assets | $ | 12,289,756 | $ | 12,262,535 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Accounts Payable | $ | 1,011,349 | $ | 934,482 | ||||||||||||
Total Accrued Expenses | 839,206 | — | ||||||||||||||
Current Maturities Of Debt | — | — | ||||||||||||||
Current Portion - Production Payment | — | — | ||||||||||||||
Debtor in Possession | — | — | ||||||||||||||
Taxes Payable | — | — | ||||||||||||||
Intercompany Payable | 10,347,742 | 11,215,688 | ||||||||||||||
Total Other Current Liabilities | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Current Liabilities | $ | 12,198,298 | $ | 12,150,170 | $ | — | $ | — | ||||||||
Long-Term Debt | $ | — | $ | — | ||||||||||||
Deferred Tax Liability | — | — | ||||||||||||||
ARO Liability | 35,240.79 | 35,586.74 | ||||||||||||||
Long Term - Production Payment | — | — | ||||||||||||||
Long Term Intercompany | — | — | ||||||||||||||
Other Long Term Liabilities | — | — | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Liabilities | $ | 12,233,538 | $ | 12,185,757 | $ | — | $ | — | ||||||||
Redeemable Preferred Stock | $ | — | $ | — | ||||||||||||
Preferred Stock | $ | — | $ | — | ||||||||||||
Common Stock | — | — | ||||||||||||||
APIC | — | — | ||||||||||||||
Treasury Stock | — | — | ||||||||||||||
Accumulated Earnings (Deficit) | 56,218 | 76,779 | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Stockholders’ Equity | $ | 56,218 | $ | 76,779 | $ | — | $ | — | ||||||||
Total Liabilities & Stockholders’ Equity | $ | 12,289,756 | $ | 12,262,535 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
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Endeavour Operating Corporation Balance Sheet
October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2014 | |||||||||||||
Cash & Cash Equivalents | $ | 37,316,408 | $ | 35,239,032 | ||||||||||||
Restricted Cash - Current | 50,176 | 50,176 | ||||||||||||||
Accounts Receivables | 2,101,571 | 2,611,990 | ||||||||||||||
Intercompany Receivables | 66,690,504 | 72,558,450 | ||||||||||||||
Total Other Current Assets | 13,345,465 | 13,448,658 | ||||||||||||||
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Current Assets | $ | 119,504,123 | $ | 123,908,305 | $ | — | $ | — | ||||||||
Property, Plant & Equipment | $ | 84,751,882 | $ | 85,492,092 | ||||||||||||
Investments | 238,153,544 | 238,153,544 | ||||||||||||||
Goodwill | — | — | ||||||||||||||
Restricted Cash | — | — | ||||||||||||||
Other Assets | 10,050 | 10,050 | ||||||||||||||
Long-Term Intercompany | 500,000,000 | 500,000,000 | ||||||||||||||
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Long Term Assets | $ | 822,915,476 | $ | 823,655,686 | $ | — | $ | — | ||||||||
Total Assets | $ | 942,419,599 | $ | 947,563,991 | $ | — | $ | — | ||||||||
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Total Accounts Payable | $ | 1,346,554 | $ | 1,520,837 | ||||||||||||
Total Accrued Expenses | 1,633,618 | 1,762,435 | ||||||||||||||
Current Maturities Of Debt | — | — | ||||||||||||||
Current Portion - Production Payment | — | — | ||||||||||||||
Debtor in Possession | — | 194,814 | �� | |||||||||||||
Taxes Payable | 9,053 | 16,651 | ||||||||||||||
Intercompany Payable | 568,388,412 | 572,929,474 | ||||||||||||||
Total Other Current Liabilities | 1,100,256 | 1,100,256 | ||||||||||||||
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Current Liabilities | $ | 572,477,892 | $ | 577,524,467 | $ | — | $ | — | ||||||||
Long-Term Debt | $ | — | $ | — | ||||||||||||
Deferred Tax Liability | — | — | ||||||||||||||
ARO Liability | 428,707 | 434,060 | ||||||||||||||
Long Term - Production Payment | — | — | ||||||||||||||
Long Term Intercompany | 554,000,000 | 554,000,000 | ||||||||||||||
Other Long Term Liabilities | 3,902,468 | 3,938,429 | ||||||||||||||
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Total Liabilities | $ | 1,130,809,067 | $ | 1,135,896,956 | $ | — | $ | — | ||||||||
Redeemable Preferred Stock | $ | — | $ | — | ||||||||||||
Preferred Stock | $ | — | $ | — | ||||||||||||
Common Stock | 1,000 | 1,000 | ||||||||||||||
APIC | 57,660,973 | 57,660,973 | ||||||||||||||
Treasury Stock | — | — | ||||||||||||||
Accumulated Earnings (Deficit) | (246,051,441 | ) | (245,994,938 | ) | ||||||||||||
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Stockholders’ Equity | $ | (188,389,468 | ) | $ | (188,332,965 | ) | $ | — | $ | — | ||||||
Total Liabilities & Stockholders’ Equity | $ | 942,419,599 | $ | 947,563,991 | $ | — | $ | — | ||||||||
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In re: Endeavour Operating Corporation, et al. | Case No. 14-12308 | |
Debtor | Reporting Period: 11/1/14 – 11/30/14 |
STATUS OF POSTPETITION TAXES
The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes.
Attach photocopies of any tax returns filed during the reporting period.
Federal | Beginning Tax Liability | Amount Withheld or Accrued | Amount Paid | Date Paid | Check No. or EFT | Ending Tax Liability | ||||||||||||||
Withholding | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
FICA-Employee | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
FICA-Employer | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
Unemployment | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
Income | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
Other: | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
Total Federal Taxes | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
State and Local | ||||||||||||||||||||
Withholding | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
Sales | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
Excise | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
Unemployment | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
Real Property | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
Personal Property | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
Other: Severance Tax | $ | 0 | $ | 7,598.08 | $ | 0 | $ | 7,598.08 | ||||||||||||
Total State and Local | ||||||||||||||||||||
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Total Taxes | $ | 0 | $ | 7,598.08 | $ | 0 | $ | 7,598.08 | ||||||||||||
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NOTE: The Company accrues for severance taxes on a quarterly basis. The average severance taxes incurred based on production is $7,000/month.
In re Endeavour Operating Corporation, et al. | Case No. 14-12308 | |
Debtor | Reporting Period: 11/1/2014 – 11/30/2014 |
SUMMARY OF UNPAID POSTPETITION DEBTS
See attached aged listing of accounts payable.
Number of Days Past Due | ||||||||||||||||||
Current | 0-30 | 31-60 | 61-90 | Over 90 | Total | |||||||||||||
Accounts Payable | $ | 681,559.79 | $ | 85,604.40 | $ | 767,164.19 | ||||||||||||
Wages Payable | $ | 2,764.18 | $ | 2,764.18 | ||||||||||||||
Taxes Payable | ||||||||||||||||||
Rent/Leases-Building | $ | 94,033.72 | $ | 94,033.72 | ||||||||||||||
Rent/Leases-Equipment | ||||||||||||||||||
Secured Debt/Adequate Protection Payments | ||||||||||||||||||
Professional Fees | ||||||||||||||||||
Amounts Due to Insiders* | ||||||||||||||||||
Other: | ||||||||||||||||||
Other: | ||||||||||||||||||
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Total Postpetition Debts | $ | 778,357.69 | $ | 85,604.40 | $ | 863,962.09 | ||||||||||||
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* | “Insider” is defined in 11 U.S.C. Section 101(31). |
Endeavour Operating Corp
Payables Aging Report
Days Past Due | ||||||||||||||||||||
Vendor | Balance at November 30, 2014 | Current | 0-30 | 31-60 | 61-90 | |||||||||||||||
Ace Trucking , LLC | $ | 467.50 | 467.50 | $ | — | $ | — | $ | — | |||||||||||
AT&T Mobility | 70.38 | 70.38 | 0.00 | 0.00 | 0.00 | |||||||||||||||
B&A PROPERTIES, LLC | 5,080.10 | 5,080.10 | 0.00 | 0.00 | 0.00 | |||||||||||||||
BEA LOGISTICS SERVICES LLC | 12,150.57 | 12,150.57 | 0.00 | 0.00 | 0.00 | |||||||||||||||
BLAC-FRAC TANKS, INC. | 1,588.21 | 0.00 | 1,588.21 | 0.00 | 0.00 | |||||||||||||||
Bloomberg Finance L.P. | 6,396.00 | 6,396.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
BOLTON CONSTRUCTION, LLC | 90.00 | 90.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Broadridge ICS, Inc | 711.78 | 711.78 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Burleson LLP | 29,088.30 | 29,088.30 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Chicago Mercantitle Exchange | 150.00 | 150.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Connell Resources, Inc | 16,618.67 | 16,618.67 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Corporate Care | 947.19 | 947.19 | 0.00 | 0.00 | 0.00 | |||||||||||||||
D & P WATER, INC. | 796.68 | 796.68 | 0.00 | 0.00 | 0.00 | |||||||||||||||
DALBO, INC | 14,292.38 | 14,292.38 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Dennard Lascar Associates LLC | 19,500.00 | 19,500.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
DirecTV | 166.82 | 166.82 | 0.00 | 0.00 | 0.00 | |||||||||||||||
DSCHAAKS CONSULTING & TRUCKING, LLC | 172,265.23 | 172,265.23 | 0.00 | 0.00 | 0.00 | |||||||||||||||
eFax | 251.45 | 251.45 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Elite Town Car Services | 160.00 | 160.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
FedEx | 230.34 | 230.34 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Goode Systems & Consulting, Inc | 2,124.95 | 2,124.95 | 0.00 | 0.00 | 0.00 | |||||||||||||||
HEROD INDUSTRIES | 11,750.00 | 11,750.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Houston Chronicle | 57.20 | 57.20 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Innovative Geo-Tech Resources | 318.75 | 318.75 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Interior Foliage & Design | 213.00 | 213.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Iron Mountain Records Mgmt | 1,093.84 | 1,093.84 | 0.00 | 0.00 | 0.00 | |||||||||||||||
J-W Operating Company | 81,341.82 | 0.00 | 81,341.82 | 0.00 | 0.00 | |||||||||||||||
KLEINFELDER | 242.00 | 242.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Konica Minolta | 1,188.34 | 1,188.34 | 0.00 | 0.00 | 0.00 | |||||||||||||||
LDNK LLC HCP | 8,135.00 | 8,135.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Long View Systems Corporation | 14,554.97 | 14,554.97 | 0.00 | 0.00 | 0.00 | |||||||||||||||
MASTER PETROLEUM | 3,840.01 | 3,840.01 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Miller Mentzer Walker, P.C. | 6,979.91 | 6,979.91 | 0.00 | 0.00 | 0.00 | |||||||||||||||
MLN Service Company, Inc | 396.00 | 396.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
MOODY CONSTRUCTION & SONS, INC. | 20,775.00 | 20,775.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
New Tech Global Ventures, LLC | 2,789.68 | 115.31 | 2,674.37 | 0.00 | 0.00 | |||||||||||||||
Newtek Technology Services | 71.85 | 71.85 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Oilfield Software Solutions, Ltd | 1,200.00 | 1,200.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Plant Interscapes, Inc. | 227.94 | 227.94 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Precision Graphics Centers | 57.37 | 57.37 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Premiere Global Services, Inc | 546.53 | 546.53 | 0.00 | 0.00 | 0.00 | |||||||||||||||
ProStar Services | 66.49 | 66.49 | 0.00 | 0.00 | 0.00 | |||||||||||||||
QEP ENERGY COMPANY | 515.96 | 515.96 | 0.00 | 0.00 | 0.00 | |||||||||||||||
R & T Oilfield Services, Inc. | 183,886.47 | 183,886.47 | 0.00 | 0.00 | 0.00 | |||||||||||||||
RAIN FOR RENT | 3,087.00 | 3,087.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Rhett’s Trucking | 37,765.00 | 37,765.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Roadrunner Moving & Storage | 280.00 | 280.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
RR Donnelley Receivables, Inc. | 10,995.00 | 10,995.00 | 0.00 | 0.00 | 0.00 |
Shred-it | 149.58 | 149.58 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Standard Parking — Denver Office | 1,400.00 | 1,400.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Staples | 496.68 | 496.68 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Steamboat Energy Consultants | 8,222.00 | 8,222.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
STERLING CRANE LLC | 41,178.63 | 41,178.63 | 0.00 | 0.00 | 0.00 | |||||||||||||||
SWEPI, LP | 2,294.63 | 2,294.63 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Tejas Office Products Inc | 103.33 | 103.33 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Thomson Reuters Accelus | 723.58 | 723.58 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Time Warner Telecom | 12,741.38 | 12,741.38 | 0.00 | 0.00 | 0.00 | |||||||||||||||
TRI-STATE LAND SURVEYING & CONSULTI | 17,775.00 | 17,775.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Verizon Wireless | 2,784.96 | 2,784.96 | 0.00 | 0.00 | 0.00 | |||||||||||||||
Wagner Rents, Inc | 3,772.74 | 3,772.74 | 0.00 | 0.00 | 0.00 | |||||||||||||||
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Total Accounts Payable | 767,164.19 | 681,559.79 | 85,604.40 | 0.00 | 0.00 | |||||||||||||||
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Days Past Due | ||||||||||||||||||||
Vendor | Balance at November 30, 2014 | Current | 0-30 | 31-60 | 61-90 | |||||||||||||||
1125 Pearlmark Broadreach, L.L.C. | 20,799.17 | 20,799.17 | 0.00 | 0.00 | 0.00 | |||||||||||||||
BG Holdco, LLC | 73,234.55 | 73,234.55 | 0.00 | 0.00 | 0.00 | |||||||||||||||
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Total Rent/Leases-Building | 94,033.72 | 94,033.72 | 0.00 | 0.00 | 0.00 | |||||||||||||||
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Days Past Due | ||||||||||||||||||||
Vendor | Balance at November 30, 2014 | Current | 0-30 | 31-60 | 61-90 | |||||||||||||||
ADP TotalSource | 2,764.18 | 2,764.18 | 0.00 | 0.00 | 0.00 | |||||||||||||||
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Total Wages Payable | 2,764.18 | 2,764.18 | 0.00 | 0.00 | 0.00 | |||||||||||||||
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Grand Total | 863,962.09 | 778,357.69 | 85,604.40 | 0.00 | 0.00 | |||||||||||||||
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In re: Endeavour Operating Corporation, et al | Case No. 14-12308 | |
Debtor | Reporting Period: 11/1/2014 – 11/30/2014 |
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
Accounts Receivable Reconciliation | Amount | |||||||
Total Accounts Receivable at the beginning of the reporting period | $ | 3,084,273 | ||||||
+ Amounts billed during the period | $ | 874,570 | ||||||
- Amounts collected during the period | ($ | 531,472 | ) | |||||
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Total Accounts Receivable at the end of the reporting period | $ | 3,427,371 | ||||||
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Accounts Receivable Aging | Amount | |||||||
0 - 30 days old | $ | 1,410,382 | ||||||
31 - 60 days old | $ | 470,666 | ||||||
61 - 90 days old | $ | 769,805 | ||||||
91+ days old | $ | 776,518 | ||||||
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Total Accounts Receivable | $ | 3,427,371 | ||||||
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Amount considered uncollectible (Bad Debt) | ||||||||
Accounts Receivable (Net) | $ | 3,427,371 | ||||||
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DEBTOR QUESTIONNAIRE
Must be completed each month | Yes | No | ||||||||
1. | Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below. | X | ||||||||
2. | Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below. | X | ||||||||
3. | Have all postpetition tax returns been timely filed? If no, provide an explanation below. | X | ||||||||
4. | Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below. | X | ||||||||
5. | Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3. | X |