UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
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 12, 2004
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-D
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-E
---------------------------------------------------------
(Exact name of Registrant as specified in its Charter)
III-D: 0-18936 III-D 73-1357374
Oklahoma III-E: 0-19010 III-E 73-1367188
- --------------- --------------- --------------------
(State or other (Commission (I.R.S. Employer
jurisdiction of File No.) Identification No.)
incorporation)
Two West Second Street, Tulsa, Oklahoma 74103
------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(918) 583-1791
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the Registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d- 2(b) under
the Exchange Act (17 CRF 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e- 4(c) under
the Exchange Act (17 CRF 240.13e-4(c))
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The undersigned registrant hereby amends the following items, financial
statements and exhibits of its Current Report on Form 8-K dated May 12, 2004, as
set forth in the pages attached hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(B) Unaudited Pro Forma Financial Statements
(1) Pro Forma Balance Sheet as of March 31, 2004.
(2) Pro Forma Statement of Operations for the three months
ended March 31, 2004.
(3) Pro Forma Statement of Operations for the year ended
December 31, 2003.
(4) Pro Forma Statement of Operations for the year ended
December 31, 2002.
(5) Pro Forma Statement of Operations for the year ended
December 31, 2001.
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ITEM 7. UNAUDITED FINANCIAL STATEMENTS AND EXHIBITS
(b) Pro Forma Financial Information
UNAUDITED PRO FORMA FINANCIAL DATA
- ----------------------------------
The following unaudited pro forma balance sheet as of March 31, 2004, unaudited
pro forma statements of operations for the three months ended March 31, 2004,
and the unaudited pro forma statements of operations for the years ended
December 31, 2003, 2002 and 2001 give effect to the divestiture of the
Jay-Little Escambia Creek Field Unit ("Jay Field") properties located in Santa
Rosa County, Florida described in the 8-K dated May 12, 2004. The unaudited pro
forma balance sheet is presented as if the divestiture had occurred on March 31,
2004. The unaudited pro forma statements of operations are presented as if the
divestiture had occurred on January 1, 2001. The unaudited pro forma financial
data is based on assumptions and includes adjustments as explained in the notes
to the unaudited pro forma financial statements. The actual recording of the
transactions could differ.
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GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-D
UNAUDITED PRO FORMA BALANCE SHEET
MARCH 31, 2004
ASSETS
Sale of Pro Forma
Historical Jay Field Adjustments Pro Forma
(Note 1) (Note 2)
---------- ---------- ----------- -----------
CURRENT ASSETS:
Cash and cash equivalents $ 456,579 $ - $88,586 $ 545,165
Accounts receivable:
Oil and gas sales 390,521 ( 79,571) - 310,950
Assets held for sale 290,059 ( 290,059) - -
---------- -------- ------- ----------
Total current assets $1,137,159 ($369,630) $88,586 $ 856,115
NET OIL AND GAS PROPERTIES,
Utilizing the successful
efforts method 643,971 - - 643,971
DEFERRED CHARGE 9,952 - - 9,952
---------- -------- ------- ----------
$1,791,082 ($369,630) $88,586 $1,510,038
========== ======== ======= ==========
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GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-D
UNAUDITED PRO FORMA BALANCE SHEET
MARCH 31, 2004
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Sale of Pro Forma
Historical Jay Field Adjustments Pro Forma
(Note 1) (Note 2)
---------- ---------- ----------- -----------
CURRENT LIABILITIES:
Accounts payable $ 128,013 ($ 63,321) $ - $ 64,692
Gas imbalance payable 5,189 - - 5,189
Asset retirement obligation -
current 9,829 - - 9,829
Asset retirement obligation -
asset held for sale 212,827 ( 212,827) - -
---------- -------- ------- ----------
Total current liabilities $ 355,858 ($276,148) $ - $ 79,710
LONG-TERM LIABILITIES:
Accrued liability $ 247,304 $ - $ - $ 247,304
Asset retirement
obligation 95,193 - - 95,193
---------- -------- ------- ----------
Total long-term liabilities $ 342,497 $ - $ - $ 342,497
PARTNERS' CAPITAL (DEFICIT):
General Partner ($ 45,768) ($ 9,348) $ 8,859 ($ 46,257)
Limited Partners, issued
and outstanding,
131,008 units 1,138,495 ( 84,134) 79,727 1,134,088
---------- -------- ------- ----------
Total Partners' capital $1,092,727 ($ 93,482) $88,586 $1,087,831
---------- -------- ------- ----------
$1,791,082 ($369,630) $88,586 $1,510,038
========== ======== ======= ==========
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GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-D
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2004
Sale of
Historical Jay Field Pro Forma
(Note 1)
---------- ----------- ----------
REVENUES:
Oil and gas sales $503,917 $ - $503,917
Interest income 448 - 448
Gain on sale of oil and
gas properties 19 - 19
-------- -------- --------
$504,384 $ - $504,384
EXPENSES:
Lease operating $ 79,102 $ - $ 79,102
Production tax 36,072 - 36,072
Depreciation, depletion,
and amortization of oil
and gas properties 23,436 - 23,436
General and administrative 41,968 - 41,968
-------- -------- --------
$180,578 $ - $180,578
-------- -------- --------
INCOME FROM CONTINUING
OPERATIONS $323,806 $ - $323,806
======== ======== ========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 34,445 $ - $ 34,445
======== ======== ========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $289,361 $ - $289,361
======== ======== ========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 2.21 $ - $ 2.21
======== ======== ========
UNITS OUTSTANDING 131,008 131,008 131,008
======== ======== ========
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GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-D
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2003
Sale of
Historical Jay Field Pro Forma
(Note 2)
---------- ----------- ----------
REVENUES:
Oil and gas sales $2,513,778 ($399,182) $2,114,596
Interest income 2,723 - 2,723
Gain on sale of oil and
gas properties 10,701 - 10,701
---------- -------- ----------
$2,527,202 ($399,182) $2,128,020
EXPENSES:
Lease operating $ 612,216 ($231,165) $ 381,051
Production tax 178,557 ( 31,178) 147,379
Depreciation, depletion,
and amortization of oil
and gas properties 122,507 ( 25,483) 97,024
General and administrative 167,388 - 167,388
---------- -------- ----------
$1,080,668 ($287,826) $ 792,842
---------- -------- ----------
INCOME FROM CONTINUING
OPERATIONS $1,446,534 ($111,356) $1,335,178
========== ======== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 155,407 ($ 13,429) $ 141,978
========== ======== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $1,291,127 ($ 97,927) $1,193,200
========== ======== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 9.86 ($ .75) $ 9.11
========== ======== ==========
UNITS OUTSTANDING 131,008 131,008 131,008
========== ======== ==========
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GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-D
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2002
Sale of
Historical Jay Field Pro Forma
(Note 2)
---------- ----------- ----------
REVENUES:
Oil and gas sales $1,976,714 ($353,220) $1,623,494
Interest income 1,879 - 1,879
Gain on sale of oil and
gas properties 15,250 - 15,250
---------- -------- ----------
$1,993,843 ($353,220) $1,640,623
EXPENSES:
Lease operating $ 739,840 ($294,962) $ 444,878
Production tax 141,082 ( 25,846) 115,236
Depreciation, depletion,
and amortization of oil
and gas properties 149,360 ( 10,035) 139,325
General and administrative 164,911 - 164,911
---------- -------- ----------
$1,195,193 ($330,843) $ 864,350
---------- -------- ----------
INCOME FROM CONTINUING
OPERATIONS $ 798,650 ($ 22,377) $ 776,273
========== ======== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 93,120 ($ 3,141) $ 89,979
========== ======== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $ 705,530 ($ 19,236) $ 686,294
========== ======== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 5.39 ($ .15) $ 5.24
========== ======== ==========
UNITS OUTSTANDING 131,008 131,008 131,008
========== ======== ==========
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GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-D
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2001
Sale of
Historical Jay Field Pro Forma
(Note 2)
---------- ----------- ----------
REVENUES:
Oil and gas sales $2,912,359 ($487,869) $2,424,490
Interest income 20,356 - 20,356
Gain on sale of oil and
gas properties 7,258 - 7,258
---------- -------- ----------
$2,939,973 ($487,869) $2,452,104
EXPENSES:
Lease operating $ 715,289 ($257,042) $ 458,247
Production tax 199,382 ( 31,925) 167,457
Depreciation, depletion,
and amortization of oil
and gas properties 125,449 ( 3,799) 121,650
General and administrative 162,783 - 162,783
---------- -------- ----------
$1,202,903 ($292,766) $ 910,137
---------- -------- ----------
INCOME FROM CONTINUING
OPERATIONS $1,737,070 ($195,103) $1,541,967
========== ======== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 107,057 ($ 13,217) $ 93,840
========== ======== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $1,630,013 ($181,886) $1,448,127
========== ======== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 12.44 ($ 1.39) $ 11.05
========== ======== ==========
UNITS OUTSTANDING 131,008 131,008 131,008
========== ======== ==========
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GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-E
UNAUDITED PRO FORMA BALANCE SHEET
MARCH 31, 2004
ASSETS
Sale of Pro Forma
Historical Jay Field Adjustments Pro Forma
(Note 1) (Note 2)
---------- ------------ ----------- -----------
CURRENT ASSETS:
Cash and cash equivalents $1,313,796 $ - $632,221 $1,946,017
Accounts receivable:
Oil and gas sales 1,260,062 ( 567,629) - 692,433
Assets held for sale 2,110,025 ( 2,110,025) - -
---------- ---------- -------- ----------
Total current assets $4,683,883 ($2,677,654) $632,221 $2,638,450
NET OIL AND GAS PROPERTIES,
Utilizing the successful
efforts method 1,873,272 - - 1,873,272
DEFERRED CHARGE 49,696 - - 49,696
---------- ---------- -------- ----------
$6,606,851 ($2,677,654) $632,221 $4,561,418
========== ========== ======== ==========
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GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-E
UNAUDITED PRO FORMA BALANCE SHEET
MARCH 31, 2004
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Sale of Pro Forma
Historical Jay Field Adjustments Pro Forma
(Note 1) (Note 2)
---------- ---------- ----------- -----------
CURRENT LIABILITIES:
Accounts payable $ 596,465 ($ 451,900) $ - $ 144,565
Gas imbalance payable 2,736 - - 2,736
Asset retirement obligation -
current 18,205 - - 18,205
Asset retirement obligation -
asset held for sale 1,573,603 ( 1,573,603) - -
---------- ---------- -------- ----------
Total current liabilities $2,191,009 ($2,025,503) $ - $ 165,506
LONG-TERM LIABILITIES:
Accrued liability $ 342,831 $ - $ - $ 342,831
Asset retirement
obligation 197,899 - - 197,899
---------- ---------- -------- ----------
Total long-term liabilities $ 540,730 $ - $ - $ 540,730
PARTNERS' CAPITAL (DEFICIT):
General Partner ($ 179,786) ($ 65,215) $ 63,222 ($ 181,779)
Limited Partners, issued
and outstanding,
418,266 units 4,054,898 ( 586,936) 568,999 4,036,961
---------- ---------- -------- ----------
Total Partners' capital $3,875,112 ($ 652,151) $632,221 $3,855,182
---------- ---------- -------- ----------
$6,606,851 ($2,677,654) $632,221 $4,561,418
========== ========== ======== ==========
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GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-E
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2004
Sale of
Historical Jay Field Pro Forma
(Note 1)
---------- ----------- ----------
REVENUES:
Oil and gas sales $1,136,092 $ - $1,136,092
Interest income 1,470 - 1,470
---------- -------- ----------
$1,137,562 $ - $1,137,562
EXPENSES:
Lease operating $ 234,805 $ - $ 234,805
Production tax 76,386 - 76,386
Depreciation, depletion,
and amortization of oil
and gas properties 34,788 - 34,788
General and administrative 123,032 - 123,032
---------- -------- ----------
$ 469,011 $ - $ 469,011
---------- -------- ----------
INCOME FROM CONTINUING
OPERATIONS $ 668,551 $ - $ 668,551
========== ======== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 69,839 $ - $ 69,839
========== ======== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $ 598,712 $ - $ 598,712
========== ======== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 1.43 $ - $ 1.43
========== ======== ==========
UNITS OUTSTANDING 418,266 418,266 418,266
========== ======== ==========
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GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-E
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2003
Sale of
Historical Jay Field Pro Forma
(Note 2)
---------- ----------- ----------
REVENUES:
Oil and gas sales $7,321,216 ($2,848,673) $4,472,543
Interest income 5,786 - 5,786
Gain on sale of oil and
gas properties 76,301 - 76,301
---------- ---------- ----------
$7,403,303 ($2,848,673) $4,554,630
EXPENSES:
Lease operating $2,697,234 ($1,649,756) $1,047,478
Production tax 500,810 ( 222,493) 278,317
Depreciation, depletion,
and amortization of oil
and gas properties 412,149 ( 190,968) 221,181
General and administrative 487,927 - 487,927
---------- ---------- ----------
$4,098,120 ($2,063,217) $2,034,903
---------- ---------- ----------
INCOME FROM CONTINUING
OPERATIONS $3,305,183 ($ 785,456) $2,519,727
========== ========== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 367,033 ($ 95,733) $ 271,300
========== ========== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $2,938,150 ($ 689,723) $2,248,427
========== ========== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 7.02 ($ 1.64) $ 5.38
========== ========== ==========
UNITS OUTSTANDING 418,266 418,266 418,266
========== ========== ==========
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GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-E
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2002
Sale of
Historical Jay Field Pro Forma
(Note 2)
---------- ----------- ----------
REVENUES:
Oil and gas sales $5,376,000 ($2,516,918) $2,859,082
Interest income 2,779 - 2,779
---------- ---------- ----------
$5,378,779 ($2,516,918) $2,861,861
EXPENSES:
Lease operating $3,228,739 ($2,105,562) $1,123,177
Production tax 345,919 ( 184,209) 161,710
Depreciation, depletion,
and amortization of oil
and gas properties 392,936 ( 78,103) 314,833
General and administrative 484,967 - 484,967
---------- ---------- ----------
$4,452,561 ($2,367,874) $2,084,687
---------- ---------- ----------
INCOME FROM CONTINUING
OPERATIONS $ 926,218 ($ 149,044) $ 777,174
========== ========== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 127,708 ($ 21,934) $ 105,774
========== ========== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $ 798,510 ($ 127,110) $ 671,400
========== ========== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 1.91 ($ .30) $ 1.61
========== ========== ==========
UNITS OUTSTANDING 418,266 418,266 418,266
========== ========== ==========
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GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-E
UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2001
Sale of
Historical Jay Field Pro Forma
(Note 2)
---------- ----------- ----------
REVENUES:
Oil and gas sales $8,238,544 ($3,485,685) $4,752,859
Interest income 53,027 - 53,027
Gain on sale of oil and
gas properties 55,511 - 55,511
---------- ---------- ----------
$8,347,082 ($3,485,685) $4,861,397
EXPENSES:
Lease operating $2,974,088 ($1,947,051) $1,027,037
Production tax 537,153 ( 228,096) 309,057
Depreciation, depletion,
and amortization of oil
and gas properties 350,179 ( 27,096) 323,083
General and administrative 479,763 - 479,763
---------- ---------- ----------
$4,341,183 ($2,202,243) $2,138,940
---------- ---------- ----------
INCOME FROM CONTINUING
OPERATIONS $4,005,899 ($1,283,442) $2,722,457
========== ========== ==========
GENERAL PARTNER - NET
INCOME FROM CONTINUING
OPERATIONS $ 261,289 ($ 89,058) $ 172,231
========== ========== ==========
LIMITED PARTNERS - NET
INCOME FROM CONTINUING
OPERATIONS $3,744,610 ($1,194,384) $2,550,226
========== ========== ==========
NET INCOME FROM CONTINUING
OPERATIONS per Unit $ 8.95 ($ 2.85) $ 6.10
========== ========== ==========
UNITS OUTSTANDING 418,266 418,266 418,266
========== ========== ==========
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NOTES TO THE UNAUDITED PRO FORMA BALANCE SHEET
The Unaudited Pro Forma Balance Sheet is presented as if the divestiture had
occurred on March 31, 2004.
(Note 1) To reduce current assets and liabilities for Jay Field assets
and liabilities sold.
(Note 2) To adjust cash and cash equivalents to reflect sales proceeds of
$88,856 and $632,221, respectively, for the III-D and III-E
Partnerships. The non-recurring gain on sale of $11,354
and $95,799, respectively, for the III-D and III-E Partnerships
has been reflected in the unaudited pro forma balance sheet and
will be reflected in the historical financial statements when
the transaction is consummated.
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NOTES TO THE UNAUDITED PRO FORMA STATEMENTS OF OPERATIONS
The Unaudited Pro Forma Statements of Operations are presented as if the
divestiture had occurred on January 1, 2001.
(Note 1) The Jay Field sale was accounted for as a discontinued
operation in the Form 10-Q for the three months ended
March 31, 2004. Therefore, there are no adjustments to
income from continuing operations for the three months ended
March 31, 2004.
(Note 2) To adjust oil and gas production revenues, lease operating
and production taxes, and depreciation, depletion and
amortization as if the divestiture had occurred on January 1,
2001.
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SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrants have duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-D
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP III-E
Date: July 13, 2004 By: /s/ Dennis R. Neill
-----------------------------
(Signature)
Dennis R. Neill
President
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