Attached files
| file | filename |
|---|---|
| 8-K - Aurora Oil & Gas CORP | v169669_8k.htm |
| EX-99.1 - Aurora Oil & Gas CORP | v169669_ex99-1.htm |
| EX-10.33 - Aurora Oil & Gas CORP | v169669_ex10-33.htm |
| EX-10.34 - Aurora Oil & Gas CORP | v169669_ex10-34.htm |
EXHIBIT
99.2
TRANSMITTAL
OF FINANCIAL REPORTS AND
CERTIFICATION
OF COMPLIANCE WITH
UNITED
STATES TRUSTEE OPERATING REQUIREMENTS FOR
THE
PERIOD ENDED: NOVEMBER 30, 2009
|
IN
RE:
|
:
|
CASE
NO.:
|
09-08255
(SWD)
|
|
:
|
Chapter
11
|
||
|
HUDSON
PIPELINE & PROCESSING CO., LLC,
|
:
|
Judge:
|
Honorable
Scott W. Dales
|
|
Debtor.
|
:
|
As debtor
in possession, I affirm:
1. That
I have reviewed the financial statements attached hereto, consisting
of:
|
X
|
Operating
Statement
|
(Form
2)
|
||
|
X
|
Balance
Sheet
|
(Form
3)
|
||
|
X
|
Summary
of Operations
|
(Form
4)
|
||
|
X
|
Monthly
Cash Statement
|
(Form
5)
|
||
|
N/A
|
Statement
of Compensation
|
(Form
6)
|
||
|
X
|
Schedule
of In-Force Insurance
|
(Form
7)
|
and that
they have been prepared in accordance with normal and customary accounting
practices, and fairly and accurately reflect the debtor’s financial activity for
the period stated.
2. That
the insurance, including workers’ compensation and unemployment insurance, as
described in Section 4 of the Reporting Requirements for Chapter 11 Cases is in
effect. (If not, attach a written explanation.)
|
YES X NO
_____
|
||
3. That
all postpetition taxes as described in Sections 1 and 14 of the Operating
Instructions and Reporting Requirements For Chapter 11 cases are
current. (If not, attach a written explanation.)
|
YES
_____ NO
_____ N/A X
|
||
4. No
professional fees (attorney, accountant, etc.) have been paid without specific
court authorization. (If not, attached a written explanation.)
|
YES X NO
_____
|
||
5. All
United States Trustee Quarterly fees have been paid and are current.
|
YES X NO
_____
|
||
6. Have
you filed your prepetition tax returns. (If not, attach a written
explanation.)
|
YES X NO
_____
|
||
I hereby
certify, under penalty of perjury, that the information provided above and in
the attached documents is true and correct to the best of my information and
belief.
|
Dated: December
18, 2009
|
/s/
Sanford R. Edlein
|
||
|
Debtor
in Possession
|
|||
|
Chief
Restructuring Officer
|
(231)
941-0073
|
||
|
Title
|
Phone
|
||
FORM
1
HUDSON
PIPELINE & PROCESSING CO, LLC (“HPPC”)
EXPLANATORY
NOTES TO THE MONTHLY OPERATING REPORT
DATED
AS OF NOVEMBER 30, 2009
|
1.
|
This
Monthly Operating Report (“MOR”) has been signed by the Company’s Chief
Restructuring Officer, Sanford R. Edlein. The MOR was prepared
by Aurora Oil & Gas Corporation’s (the “Company”) staff with
management oversight on behalf of HPPC. Mr. Edlein does not
have personal knowledge of every item identified in the MOR and has relied
upon the work of Company management. In reviewing and signing
the MOR, Mr. Edlein has relied upon the accuracy and integrity of the
Company’s books and records, and it is possible that further review
thereof may require amendment of the
MOR.
|
|
2.
|
This
MOR is preliminary and unaudited and reflects results for the twelve days
ended July 12, 2009 (pre-petition), nineteen days ended July 31, 2009
(post-petition), one month ended July 31, 2009, August 31, 2009, September
30, 2009 and October 31, 2009, one and eleven months ended November 30,
2009 and balances as of July 12, 2009 (filing date), July 31, 2009, August
31, 2009, September 30, 2009, October 31, 2009 and November 30,
2009. This MOR should be read together and concurrently with
the Company’s first quarter 2009 Form 10-Q that was filed with the
Securities and Exchange Commission (“SEC”) on May 8, 2009 and the
Company’s Annual Report on Form 10-K for fiscal 2008 filed with the SEC on
March 13, 2009 for a comprehensive description of our current financial
condition and operating results. This MOR should also be read together and
concurrently with Forms 8-K filed with the SEC during
2009. This MOR is being provided to the Bankruptcy Court and
the U.S. Trustee.
|
|
3.
|
This
MOR is unaudited and will not be subject to audit or review by our
external auditors on a stand-alone basis at any time in the
future. Results for this period as presented in the MOR are not
necessarily indicative of the actual results for the period if all such
matters were allocated to all periods in the quarter or
year. Accordingly, each period reported in the MOR should not
be viewed on a stand-alone basis, but rather in the context of previously
reported financial results, including the Company’s SEC
filings.
|
|
4.
|
This
MOR is presented in a format providing information required under local
rules and incorporating measurements used for internal operating purposes,
rather than in accordance with accounting principles generally accepted in
the United States of America (“GAAP”) for interim financial information.
This MOR does not include certain financial statements and explanatory
footnotes, including disclosures required under
GAAP.
|
|
5.
|
This
MOR is presented on a stand alone basis for HPPC and does not include any
eliminating entries. HPPC is a limited liability company that
owns and operates various pipelines and processing facilities located in
Hudson Township area of the Michigan Antrim play. The Company
holds a 96.1% interest in HPPC.
|
|
CASE
NAME: Hudson Pipeline & Processing Co.,
LLC
|
||||||||||||||||||
|
CASE
NUMBER: 09-08254 (SWD)
|
||||||||||||||||||
OPERATING
STATEMENTS
|
PERIOD
|
PERIOD
|
|||||||||||||||||||||||||||||||||||
|
07/01/09
-
|
07/13/09
-
|
MONTH
|
MONTH
|
MONTH
|
MONTH
|
MONTH
|
YTD
|
MONTH
|
||||||||||||||||||||||||||||
|
07/12/09
|
07/31/09
|
Jul-09
|
Aug-09
|
Sep-09
|
Oct-09
|
Nov-09
|
Nov-09
|
Dec-09
|
||||||||||||||||||||||||||||
|
REVENUES:
|
||||||||||||||||||||||||||||||||||||
|
Transportation
|
$ | 36,859 | $ | 57,278 | $ | 94,137 | $ | 91,636 | $ | 91,816 | $ | 91,646 | $ | 90,565 | $ | 997,793 | ||||||||||||||||||||
|
Compression
|
59,844 | 103,787 | 163,631 | 184,232 | 181,494 | 180,825 | 182,293 | 1,836,295 | ||||||||||||||||||||||||||||
|
Processing
|
19,282 | 29,935 | 49,217 | 48,268 | 47,114 | 47,004 | 44,748 | 520,900 | ||||||||||||||||||||||||||||
|
Other
income
|
3,361 | 5,657 | 9,018 | 8,729 | 8,685 | 8,684 | 8,922 | 172,347 | ||||||||||||||||||||||||||||
|
3rd
party transportation
|
1,558 | 2,388 | 3,946 | 3,902 | 3,840 | 3,832 | 3,669 | 347,283 | ||||||||||||||||||||||||||||
|
Less:
3rd party transportation
|
(1,558 | ) | (2,388 | ) | (3,946 | ) | (3,902 | ) | (3,840 | ) | (3,832 | ) | (3,669 | ) | (347,283 | ) | ||||||||||||||||||||
|
Total
revenues
|
119,346 | 196,657 | 316,003 | 332,865 | 329,109 | 328,159 | 326,528 | 3,527,335 | - | |||||||||||||||||||||||||||
|
EXPENSES:
|
||||||||||||||||||||||||||||||||||||
|
Pipeline
and field operating expense
|
525 | 1,174 | 1,699 | 700 | 900 | 500 | 1,784 | 49,304 | ||||||||||||||||||||||||||||
|
Processing
operating expense
|
77,232 | 76,832 | 154,064 | 165,693 | 135,641 | 136,654 | 157,423 | 1,817,763 | ||||||||||||||||||||||||||||
|
General
and administrative expense
|
2,611 | 4,387 | 6,998 | 6,933 | 7,131 | 12,826 | 6,951 | 86,283 | ||||||||||||||||||||||||||||
|
Depreciation
|
27,548 | 43,618 | 71,166 | 71,166 | 71,166 | 71,166 | 71,166 | 795,356 | ||||||||||||||||||||||||||||
|
Taxes
(refunds), other
|
1,348 | 2,000 | 3,348 | 5,777 | 8,218 | 8,218 | 8,218 | 54,853 | ||||||||||||||||||||||||||||
|
Total
expenses
|
109,264 | 128,011 | 237,275 | 250,269 | 223,056 | 229,364 | 245,542 | 2,803,559 | - | |||||||||||||||||||||||||||
|
NET
INCOME
|
$ | 10,082 | $ | 68,646 | $ | 78,728 | $ | 82,596 | 106,053 | 98,795 | 80,986 | $ | 723,776 | - | ||||||||||||||||||||||
FORM
2
|
CASE
NAME: Hudson Pipeline & Processing Co.,
LLC
|
||||||||||||||
|
CASE
NUMBER: 09-08254 (SWD)
|
||||||||||||||
|
BALANCE
SHEETS
|
||||||||||||||||||||||||||||
|
Filing
Date
|
AS
OF
|
AS
OF
|
AS
OF
|
AS
OF
|
AS
OF
|
AS
OF
|
||||||||||||||||||||||
|
07/12/09
|
07/31/09
|
08/31/09
|
09/30/09
|
10/31/09
|
11/30/09
|
12/31/09
|
||||||||||||||||||||||
|
ASSETS
|
||||||||||||||||||||||||||||
|
CURRENT
ASSETS:
|
||||||||||||||||||||||||||||
|
Cash
|
$ | 1,861,927 | $ | 1,989,537 | $ | 2,097,689 | $ | 2,307,208 | $ | 2,267,209 | $ | 2,506,219 | ||||||||||||||||
|
Accounts
receivable:
|
||||||||||||||||||||||||||||
|
Trade
|
475,818 | 311,050 | 328,037 | 324,192 | 323,585 | 321,168 | ||||||||||||||||||||||
|
Members
|
106,754 | 106,754 | 106,754 | 106,754 | 106,754 | 106,754 | ||||||||||||||||||||||
|
Prepaid
expenses
|
100,894 | 73,344 | 156,874 | 165,028 | 155,388 | 88,201 | ||||||||||||||||||||||
|
Total
current assets
|
2,545,393 | 2,480,685 | 2,689,354 | 2,903,182 | 2,852,936 | 3,022,342 | - | |||||||||||||||||||||
|
PIPELINES,
PLANT AND EQUIPMENT
|
||||||||||||||||||||||||||||
|
Pipelines
|
7,391,842 | 7,391,842 | 7,391,842 | 7,391,842 | 7,391,842 | 7,391,842 | ||||||||||||||||||||||
|
Plant
|
948,457 | 948,457 | 948,457 | 948,457 | 948,457 | 948,457 | ||||||||||||||||||||||
|
Equipment
|
2,560,696 | 2,560,696 | 2,560,696 | 2,560,696 | 2,560,696 | 2,560,696 | ||||||||||||||||||||||
|
Less:
accumulated depreciation
|
(1,876,861 | ) | (1,920,479 | ) | (1,991,644 | ) | (2,062,810 | ) | (2,133,976 | ) | (2,205,142 | ) | ||||||||||||||||
|
Total
pipelines, plant and equipment, net
|
9,024,134 | 8,980,516 | 8,909,351 | 8,838,185 | 8,767,019 | 8,695,853 | - | |||||||||||||||||||||
|
TOTAL
ASSETS
|
$ | 11,569,527 | $ | 11,461,201 | $ | 11,598,705 | $ | 11,741,367 | $ | 11,619,955 | $ | 11,718,195 | $ | - | ||||||||||||||
|
LIABILITIES
AND MEMBERS' EQUITY
|
||||||||||||||||||||||||||||
|
CURRENT
LIABILITIES:
|
||||||||||||||||||||||||||||
|
Accounts
payable:
|
||||||||||||||||||||||||||||
|
Trade
|
$ | 250,950 | (1) | $ | 198,408 | $ | 124,740 | $ | 253,288 | $ | 163,034 | $ | 189,574 | |||||||||||||||
|
Affiliates
|
207,760 | (1) | 59,402 | 90,595 | 95,310 | 9,430 | 4,715 | |||||||||||||||||||||
|
Accrued
liabilities
|
41,648 | 70,898 | 176,964 | 88,993 | 53,603 | 57,714 | ||||||||||||||||||||||
|
Other
current liabilities
|
104,197 | 104,197 | 104,197 | 104,197 | 104,197 | 104,197 | ||||||||||||||||||||||
|
Total
current liabilities
|
604,555 | 432,905 | 496,496 | 541,788 | 330,264 | 356,200 | - | |||||||||||||||||||||
|
LONG-TERM
LIABILITIES:
|
||||||||||||||||||||||||||||
|
Deferred
gain on sale of natural gas compressor equipment
|
257,132 | 251,810 | 243,127 | 234,444 | 225,761 | 217,079 | ||||||||||||||||||||||
|
MEMBERS'
EQUITY
|
||||||||||||||||||||||||||||
|
Members’
equity
|
10,707,840 | (1) | 10,776,486 | 10,859,082 | 10,965,135 | 11,063,930 | 11,144,916 | |||||||||||||||||||||
|
TOTAL
LIABILITIES AND (DEFICIT) EQUITY
|
$ | 11,569,527 | $ | 11,461,201 | $ | 11,598,705 | $ | 11,741,367 | $ | 11,619,955 | $ | 11,718,195 | $ | - | ||||||||||||||
|
(1) - Trade accounts
payable and members' equity were reduced by $45,327 and $273, respectively
and affiliates accounts payable was increase by $45,600 from the informal
report submitted to the U.S. Trustee as a result of adjustments to
estimated accrued liabilities and to properly account for payables to
affiliates.
|
|
|
FORM
3
|
CASE
NAME: Hudson Pipeline & Processing Co.,
LLC
|
||||||||||||||
|
CASE NUMBER: 09-08254
(SWD)
|
||||||||||||||
|
|
SUMMARY
OF OPERATIONS
SCHEDULE
OF POST-PETITION TAXES PAYABLE
|
|||||||||||||||||||||||||||
|
Filing
Date
|
AS
OF
|
AS
OF
|
AS
OF
|
AS
OF
|
AS
OF
|
AS
OF
|
||||||||||||||||||||||
|
07/12/09
|
07/31/09
|
08/31/09
|
09/30/09
|
10/31/09
|
11/30/09
|
12/31/09
|
||||||||||||||||||||||
|
INCOME
TAXES WITHHELD:
|
||||||||||||||||||||||||||||
|
Federal
|
$ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||
|
State
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
Local
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
FICA
WITHHELD
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
EMPLOYERS
FICA
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
UNEMPLOYMENT
TAX:
|
||||||||||||||||||||||||||||
|
Federal
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
State
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
SEVERANCE
TAXES
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
PROPERTY
TAXES
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
STATE
INCOME TAXES
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
WORKERS'
COMPENSATION
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
TOTAL
POST-PETITION TAXES PAYABLE
|
$ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||
|
Note: HPPC does not have
employees and therefore no payroll related liabilities exists. No
other tax related payables exist at November 30, 2009.
|
||||||||||||||||||||||||||||
|
|
AGING
OF ACCOUNTS RECEIVABLE
|
|||||||||||||||||||||||||||
|
AGED
AS OF
|
AS
OF
|
AS
OF
|
AS
OF
|
AS
OF
|
AS
OF
|
AS
OF
|
||||||||||||||||||||||
|
DAYS
|
07/12/09
|
07/31/09
|
08/31/09
|
09/30/09
|
10/31/09
|
11/30/09
|
12/31/09
|
|||||||||||||||||||||
|
0-29
Days
|
$ | 475,818 | (1) | $ | 311,050 | (1) | $ | 328,037 | (1) | $ | 324,192 | $ | 323,585 | $ | 321,168 | |||||||||||||
|
30-59
Days
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
60-89
Days
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
90+
Days
|
106,754 | (2) | 106,754 | (2) | 106,754 | (2) | 106,754 | (2) | 106,754 | (2) | 106,754 | (2) | ||||||||||||||||
|
TOTAL
|
$ | 582,572 | $ | 417,804 | $ | 434,791 | $ | 430,946 | $ | 430,339 | $ | 427,922 | $ | - | ||||||||||||||
|
|
AGING
OF ACCOUNTS PAYABLE
|
|||||||||||||||||||||||||||
|
AGED
AS OF
|
AS
OF
|
AS
OF
|
AS
OF
|
AS
OF
|
AS
OF
|
AS
OF
|
||||||||||||||||||||||
|
DAYS
|
07/12/09
|
07/31/09
|
08/31/09
|
09/30/09
|
10/31/09
|
11/30/09
|
12/31/09
|
|||||||||||||||||||||
|
0-29
Days
|
$ | 200,928 | $ | 164,827 | $ | 80,182 | $ | 234,650 | $ | 83,532 | $ | 172,768 | ||||||||||||||||
|
30-59
Days
|
45,669 | 33,581 | 44,558 | 18,638 | 79,502 | 16,806 | ||||||||||||||||||||||
|
60-89
Days
|
4,353 | - | - | - | - | - | ||||||||||||||||||||||
|
90+
Days
|
- | - | - | - | - | - | ||||||||||||||||||||||
|
TOTAL
|
$ | 250,950 | $ | 198,408 | $ | 124,740 | $ | 253,288 | $ | 163,034 | $ | 189,574 | $ | - | ||||||||||||||
|
Note: This form does not
include intercompany accounts payable.
|
||||||||||||||
|
(1) - Amounts represent
trade accounts receivable balances as of July 12, 2009, July 13, 2009 and
August 31, 2009, respectively and were erroneously excluded from the
September 22, 2009 and previous Form 8-K filings.
|
||||||||||||||
|
(2) - Amount is due from
a member of HPPC, which can be offset against future distributions or
reduction of member interest.
|
||||||||||||||
FORM
4
|
BANK
RECONCILIATION AND CASH ACTIVITY REPORT
|
|
Month
Ended November 30, 2009
|
|
Case
Name: Hudson Pipeline & Processing Co.,
LLC
|
|||||||||
|
Case
Number: 09-08255 (SWD)
|
|||||||||
|
Bank: Purpose
(Type): |
Northwestern
Bank Operating
Account |
JPMorgan
Chase Operating
Account (DIP) |
Charles
Schwab & Co. Investment
Account |
TOTAL
|
|||||||||||||||
|
Bank
Balance (11/30/09)
|
$ | - | $ | 2,496,641 | $ | 10,579 | $ | 2,507,219 | |||||||||||
|
Add: Deposits
in Transit
|
- | - | - | - | |||||||||||||||
|
Subtract: Outstanding
Checks
|
- | (1,000 | ) | - | (1,000 | ) | |||||||||||||
|
Adjusted
Bank Balance (11/30/09)
|
$ | - | $ | 2,495,641 | $ | 10,579 | $ | 2,506,219 | |||||||||||
|
Cash
Activity Report
|
|||||||||||||||||||
| A |
Beginning
Book Balance (10/31/09)
|
$ | - | $ | 2,256,631 | $ | 10,578 | $ | 2,267,209 | ||||||||||
| B |
Receipts
|
- | 323,694 | 1 | 323,695 | ||||||||||||||
| C |
Transfers
In (from other accounts)
|
- | - | - | - | ||||||||||||||
| D |
Balance
Available
|
- | 2,580,325 | 10,579 | 2,590,903 | ||||||||||||||
| E |
Disbursements
|
- | (84,684 | ) | - | (84,684 | ) | ||||||||||||
| F |
Transfers
Out
|
- | - | - | - | ||||||||||||||
| G |
Ending
Book Balance (11/30/09)
|
$ | - | $ | 2,495,641 | $ | 10,579 | $ | 2,506,219 | ||||||||||
|
* A
sweep account at Northwestern Bank is associated with this operating
account. Effective July 20, 2009, the sweep account was
closed. The presentation of this account in the reconciliation and
cash activity is consolidated for these associated accounts. Also,
effective July 31, 2009, this operating account was closed. No
further activity will appear in this account after July 31,
2009.
|
||||||||||||||||||||
|
**
A predecessor account at JPMorgan Chase was established prior to the
petition date of 7/12/09, in anticipation of the filing. A minimal
amount of activity occurred prior to the filing date, after which the
account was closed/merged into the new JPMorgan Chase DIP
account. The presentation of this account in the reconciliation and
cash activity is consolidated for these accounts.
|
||||||||||||||||||||
|
Other
Monies on Hand
|
|||||||||||||||||||
|
Hudson
does not keep any cash on hand.
|
|||||||||||||||||||
|
Cash
Receipts and Disbursements Detail
|
TOTAL
|
|||
|
Receipts
|
||||
|
Operated
Revenues
|
$ | 323,694 | ||
|
Other
Receipts
|
1 | |||
|
Total
Receipts
|
$ | 323,695 | ||
|
Disbursements
|
||||
|
Operating
Expenses
|
$ | (84,684 | ) | |
|
Other
Disbursements
|
- | |||
|
Total
Disbursements
|
$ | (84,684 | ) | |
FORM
5
|
SCHEDULE
OF IN-FORCE INSURANCE
|
|
For
Month Ended November 30, 2009
|
|
Case
Name: Hudson Pipeline & Processing Co.,
LLC
|
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|
Case
Number: 09-08255 (SWD)
|
|||||||
|
Insurance
Type
|
Carrier/Agent
|
Expiration
Date
|
|||||
|
Building
& Personal Property
|
Federal
Insurance Company (Chubb)
|
1/1/2010
|
|||||
|
Oilfield
Lease Property
|
Federal
Insurance Company (Chubb)
|
1/1/2010
|
|||||
|
General
Liability
|
Federal
Insurance Company (Chubb)
|
1/1/2010
|
|||||
|
Pollution
Liability
|
Federal
Insurance Company (Chubb)
|
1/1/2010
|
|||||
|
Umbrella
- Primary
|
Federal
Insurance Company (Chubb)
|
1/1/2010
|
|||||
|
Umbrella
- Second Layer
|
Arch
Insurance Group
|
1/1/2010
|
|||||
|
Umbrella
- Third Layer
|
Federal
Insurance Company (Chubb)
|
1/1/2010
|
|||||
|
Note: Hudson
Pipeline & Processing Co., LLC affirms that all necessary insurance
coverages are in effect and all premium payments are current as of the
ending date specified above.
|
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FORM
7