Patriot Coal CORP - FORM 8-K - EX-99.1

Patriot Coal CORP - FORM 8-K - EX-99.1 - October 30, 2012

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Attached files

Patriot Coal CORP Reports

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8-K - 8-K - Patriot Coal CORP	d428514d8k.htm

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF NEW YORK

In re Patriot Coal Corporation

CORPORATE MONTHLY OPERATING REPORT


REQUIRED DOCUMENTS	Form No.	Document Attached	Explanation Attached
Legal Entities and Notes to MOR		x
Schedule of Cash Receipts and Disbursements	MOR-1	x
Bank Account Information	MOR-1a	x
Copies of bank statements			x
Cash disbursements journals			x
Statements of Operations (Income Statement)	MOR-2	x
Balance Sheets	MOR-3	x
Status of Post-Petition Taxes	MOR-4	x
Copies of IRS Form 6123 or payment receipt			x
Copies of tax returns filed during reporting period			x
Summary of Unpaid Post-Petition Debts	MOR-4		x
Listing of Aged Accounts Payable			x
Accounts Receivable Reconciliation and Aging	MOR-5		x
Taxes Reconciliation and Aging	MOR-5		x
Schedule of Payments to Professionals	MOR-6	x
Post Petition Secured Notes Adequate Protection Payments	MOR-6		x
Debtor Questionnaire	MOR-7	x

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.


/s/ JOHN E. LUSHEFSKI				October 30, 2012
Signature of Authorized Individual*				Date

John E. Lushefski
Printed Name of Authorized Individual

Senior Vice President and Chief Financial Officer
Title

*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.


In re Patriot Coal Corporation	Form No.	Legal Entities and Notes to MOR
	Case No. (Jointly Administered)	12-12900
	Reporting Period:	30-Sep-12

	Federal Tax I.D. #	20-5622045



Listing of Debtor Entities and Notes to the Monthly Operating Report

GENERAL:

The report includes activity from the following Debtors and related Case Numbers:


Debtor		Case Number
Patriot Beaver Dam Holdings, LLC		12-12898
PCX Enterprises, Inc.		12-12899
Patriot Coal Corporation		12-12900
Affinity Mining Company		12-12902
Apogee Coal Company, LLC		12-12903
Appalachia Mine Services, LLC		12-12904
Beaver Dam Coal Company, LLC		12-12905
Big Eagle, LLC		12-12906
Big Eagle Rail, LLC		12-12907
Black Stallion Coal Company, LLC		12-12908
Black Walnut Coal Company		12-12909
Bluegrass Mine Services, LLC		12-12910
Brook Trout Coal, LLC		12-12911
Catenary Coal Company, LLC		12-12913
Central States Coal Reserves of Kentucky, LLC		12-12914
Charles Coal Company, LLC		12-12916
Cleaton Coal Company		12-12917
Coal Clean LLC		12-12918
Coal Properties, LLC		12-12919
Coal Reserve Holding Limited Liability Company No.2		12-12920
Colony Bay Coal Company		12-12921
Cook Mountain Coal Company, LLC		12-12922
Corydon Resources LLC		12-12923
Coventry Mining Services, LLC		12-12924
Coyote Coal Company LLC		12-12925
Cub Branch Coal Company LLC		12-12926
Dakota LLC		12-12927
Day LLC		12-12928
Dixon Mining Company, LLC		12-12929
Dodge Hill Holding JV, LLC		12-12930
Dodge Hill Mining Company, LLC		12-12931
Dodge Hill of Kentucky, LLC		12-12932
EACC Camps, Inc.		12-12933
Eastern Associated Coal, LLC		12-12934
Eastern Coal Company, LLC		12-12935
Eastern Royalty, LLC		12-12936
Emerald Processing, L.L.C.		12-12937
Gateway Eagle Coal Company, LLC		12-12938
Grand Eagle Mining, LLC		12-12939
Heritage Coal Company LLC		12-12940
Highland Mining Company, LLC		12-12941
Hillside Mining Company		12-12942
Hobet Mining, LLC		12-12943
Indian Hill Company LLC		12-12944
Infinity Coal Sales, LLC		12-12945
Interior Holdings, LLC		12-12946
IO Coal LLC		12-12947
Jarrell’s Branch Coal Company		12-12948
Jupiter Holdings LLC		12-12949
Kanawha Eagle Coal, LLC		12-12950
Kanawha River Ventures I, LLC		12-12951
Kanawha River Ventures II, LLC		12-12952
Kanawha River Ventures III, LLC		12-12953


In re Patriot Coal Corporation	Form No.	Legal Entities and Notes to MOR
	Case No. (Jointly Administered)	12-12900
	Reporting Period:	30-Sep-12

	Federal Tax I.D. #	20-5622045



Listing of Debtor Entities and Notes to the Monthly Operating Report


KE Ventures, LLC		12-12954
Little Creek LLC		12-12955
Logan Fork Coal Company		12-12956
Magnum Coal Company LLC		12-12957
Magnum Coal Sales LLC		12-12958
Martinka Coal Company, LLC		12-12959
Midland Trail Energy LLC		12-12960
Midwest Coal Resources II, LLC		12-12961
Mountain View Coal Company, LLC		12-12962
New Trout Coal Holdings II, LLC		12-12963
Newtown Energy, Inc.		12-12964
North Page Coal Corp.		12-12965
Ohio County Coal Company, LLC		12-12966
Panther LLC		12-12967
Patriot Coal Company, L.P.		12-12968
Patriot Coal Sales LLC		12-12969
Patriot Coal Services LLC		12-12970
Patriot Leasing Company LLC		12-12971
Patriot Midwest Holdings, LLC		12-12972
Patriot Reserve Holdings, LLC		12-12973
Patriot Trading LLC		12-12974
Pine Ridge Coal Company, LLC		12-12975
Pond Creek Land Resources, LLC		12-12976
Pond Fork Processing LLC		12-12977
Remington Holdings LLC		12-12978
Remington II LLC		12-12979
Remington LLC		12-12980
Rivers Edge Mining, Inc.		12-12981
Robin Land Company, LLC		12-12982
Sentry Mining, LLC		12-12983
Snowberry Land Company		12-12984
Speed Mining LLC		12-12985
Sterling Smokeless Coal Company, LLC		12-12986
TC Sales Company, LLC		12-12987
The Presidents Energy Company LLC		12-12988
Thunderhill Coal LLC		12-12989
Trout Coal Holdings, LLC		12-12990
Union County Coal Co., LLC		12-12991
Viper LLC		12-12992
Weatherby Processing LLC		12-12993
Wildcat Energy LLC		12-12994
Wildcat, LLC		12-12995
Will Scarlet Properties LLC		12-12996
Winchester LLC		12-12997
Winifrede Dock Limited Liability Company		12-12998
Yankeetown Dock, LLC		12-12999


In re Patriot Coal Corporation	Form No.	Legal Entities and Notes to MOR
	Case No. (Jointly Administered)	12-12900
	Reporting Period:	30-Sep-12

	Federal Tax I.D. #	20-5622045



Listing of Debtor Entities and Notes to the Monthly Operating Report

Notes to the MOR:

On July 9, 2012 (the “Petition Date”), Patriot Coal Corporation (“Patriot”), as a stand-alone entity, and substantially all of its wholly-owned subsidiaries (collectively, the “Debtors”) filed voluntary petitions for reorganization (the “Chapter 11 Cases”) under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”) in the Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”). The Debtors’ Chapter 11 Cases are being jointly administered under the caption “In re: Patriot Coal Corporation, et al. (Case No. 12-12900).” Patriot’s joint ventures and certain of Patriot’s other subsidiaries (the “Non-Debtors”) were not included in the filing.

This Monthly Operating Report (“MOR”) has been prepared on a consolidated basis for the Debtors. The financial information contained herein is unaudited, limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements for Chapter 11 debtors as required by the Bankruptcy Court and is in a format acceptable to the United States Trustee for the Southern District of New York (the “U.S. Trustee”). As discussed below, this MOR is not prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and does not include all of the information and footnotes required by U.S. GAAP. Therefore, there can be no assurance that the condensed consolidated financial information presented herein is complete and readers are strongly cautioned not to place undue reliance on the MOR.

The unaudited financial statements have been derived from the books and records of the Debtors. The information furnished in this report includes primarily normal recurring adjustments, but not all the adjustments that would typically be made for the quarterly and annual consolidated financial statements to be in accordance with U.S. GAAP. Furthermore, the monthly financial information contained herein has not been subjected to the same level of accounting review and testing that the Debtors apply in the preparation of their quarterly and annual consolidated financial information in accordance with U.S. GAAP. Accordingly, upon the application of such procedures, the Debtors believe that the financial information may be subject to change, and these changes could be material.

The results of operations contained herein are not necessarily indicative of results that may be expected from any other period or for the full year and may not necessarily reflect the consolidated results of operations, financial position and cash flows of the Debtors in the future.

For the reasons discussed above, the Debtors caution readers not to place undue reliance upon information contained in this MOR. For further information, refer to the consolidated financial statements and footnotes included in Patriot’s Annual Report on Form 10-K/A (Amendment No. 1) for the year ended December 31, 2011 and the Form 10-Q for the quarter ended September 30, 2012, as filed with the Securities and Exchange Commission.

No assurance can be given as to the value, if any, that may be ascribed to the Debtors’ various pre-petition liabilities and other securities. Accordingly, the Debtors urge that caution be exercised with respect to existing and future investments in any of these securities or claims against the Debtors.

Additional information about the Chapter 11 Cases, court filings and claims information is available on the internet at www.patriotcaseinfo.com.

Notes to MOR-4 and MOR-5:

For status of post-petition tax payments, see disclosures as noted on MOR-4. Due to the level of detailed records, (i) copies of IRS Form 6123 or payment receipts; (ii) copies of tax returns filed during the reporting period; and (iii) a taxes aging schedule will be made available upon request.

Additionally, the Debtors believe that the information as disclosed in MOR-3 appropriately summarizes the ending accounts receivable and accounts payable balances of the Debtors. Due to the volume of transactions related to customer billings and vendor payments, the following items will be made available upon request: (i) summary of unpaid post-petition debts; (ii) listing of aged accounts payable; and (iii) accounts receivable reconciliation and aging.

Notes to MOR-6:

The post-petition secured notes adequate protection payments schedule is not applicable as there were no such payments in September 2012.

As of September 30, 2012, we have received the full proceeds from our $375 million term loan under our Debtor-in-Possession financing. As of September 30, 2012, we have $383 million in cash and cash equivalents and $46 million in a cash collateral account, which is included in cash collateralization deposits on our balance sheet.


In re Patriot Coal Corporation	Form No.	MOR-1
	Case No. (Jointly Administered)	12-12900
	Reporting Period:	30-Sep-12

	Federal Tax I.D. #	20-5622045



Schedule of Cash Receipts and Disbursements
(Amounts in thousands)


Debtor	Case Number		Cash Receipts		Cash Disbursements
Patriot Beaver Dam Holdings, LLC	12-12898	$	-	$	-
PCX Enterprises, Inc.	12-12899		-		-
Patriot Coal Corporation	12-12900		184,889		28,496
Affinity Mining Company	12-12902		-		-
Apogee Coal Company, LLC	12-12903		-		11,046
Appalachia Mine Services, LLC	12-12904		-		715
Beaver Dam Coal Company, LLC	12-12905		-		-
Big Eagle, LLC	12-12906		-		-
Big Eagle Rail, LLC	12-12907		-		-
Black Stallion Coal Company, LLC	12-12908		-		6,770
Black Walnut Coal Company	12-12909		-		-
Bluegrass Mine Services, LLC	12-12910		-		-
Brook Trout Coal, LLC	12-12911		-		-
Catenary Coal Company, LLC	12-12913		-		3,698
Central States Coal Reserves of Kentucky, LLC	12-12914		-		177
Charles Coal Company, LLC	12-12916		-		-
Cleaton Coal Company	12-12917		-		2
Coal Clean LLC	12-12918		-		329
Coal Properties, LLC	12-12919		-		-
Coal Reserve Holding Limited Liability Company No.2	12-12920		-		-
Colony Bay Coal Company	12-12921		-		8
Cook Mountain Coal Company, LLC	12-12922		-		-
Corydon Resources LLC	12-12923		-		-
Coventry Mining Services, LLC	12-12924		-		-
Coyote Coal Company LLC	12-12925		-		3,464
Cub Branch Coal Company LLC	12-12926		-		-
Dakota LLC	12-12927		-		20
Day LLC	12-12928		-		-
Dixon Mining Company, LLC	12-12929		-		-
Dodge Hill Holding JV, LLC	12-12930		-		-
Dodge Hill Mining Company, LLC	12-12931		-		3,232
Dodge Hill of Kentucky, LLC	12-12932		-		-
EACC Camps, Inc.	12-12933		-		-
Eastern Associated Coal, LLC	12-12934		-		19,156
Eastern Coal Company, LLC	12-12935		-		-
Eastern Royalty, LLC	12-12936		-		300
Emerald Processing, L.L.C.	12-12937		-		228
Gateway Eagle Coal Company, LLC	12-12938		-		2,016
Grand Eagle Mining, LLC	12-12939		-		2,446
Heritage Coal Company LLC	12-12940		-		1,996
Highland Mining Company, LLC	12-12941		-		11,534
Hillside Mining Company	12-12942		-		522
Hobet Mining, LLC	12-12943		-		10,332
Indian Hill Company LLC	12-12944		-		-
Infinity Coal Sales, LLC	12-12945		-		7
Interior Holdings, LLC	12-12946		-		-
IO Coal LLC	12-12947		-		-
Jarrell’s Branch Coal Company	12-12948		-		5
Jupiter Holdings LLC	12-12949		-		34
Kanawha Eagle Coal, LLC	12-12950		-		4,031
Kanawha River Ventures I, LLC	12-12951		-		-
Kanawha River Ventures II, LLC	12-12952		-		-
Kanawha River Ventures III, LLC	12-12953		-		4
KE Ventures, LLC	12-12954		-		-


In re Patriot Coal Corporation	Form No.	MOR-1
	Case No. (Jointly Administered)	12-12900
	Reporting Period:	30-Sep-12

	Federal Tax I.D. #	20-5622045



Schedule of Cash Receipts and Disbursements
(Amounts in thousands)


Debtor	Case Number	Cash Receipts	Cash Disbursements
Little Creek LLC	12-12955	-	137
Logan Fork Coal Company	12-12956	-	-
Magnum Coal Company LLC	12-12957	-	1,597
Magnum Coal Sales LLC	12-12958	-	-
Martinka Coal Company, LLC	12-12959	-	28
Midland Trail Energy LLC	12-12960	-	2,865
Midwest Coal Resources II, LLC	12-12961	-	-
Mountain View Coal Company, LLC	12-12962	-	15
New Trout Coal Holdings II, LLC	12-12963	-	-
Newtown Energy, Inc.	12-12964	-	1,852
North Page Coal Corp.	12-12965	-	-
Ohio County Coal Company, LLC	12-12966	-	246
Panther LLC	12-12967	-	13,426
Patriot Coal Company, L.P.	12-12968	-	532
Patriot Coal Sales LLC	12-12969	-	14,016
Patriot Coal Services LLC	12-12970	-	2,433
Patriot Leasing Company LLC	12-12971	-	5,280
Patriot Midwest Holdings, LLC	12-12972	-	-
Patriot Reserve Holdings, LLC	12-12973	-	6
Patriot Trading LLC	12-12974	-	-
Pine Ridge Coal Company, LLC	12-12975	-	316
Pond Creek Land Resources, LLC	12-12976	-	-
Pond Fork Processing LLC	12-12977	-	-
Remington Holdings LLC	12-12978	-	-
Remington II LLC	12-12979	-	-
Remington LLC	12-12980	-	3,246
Rivers Edge Mining, Inc.	12-12981	-	46
Robin Land Company, LLC	12-12982	-	2,690
Sentry Mining, LLC	12-12983	-	-
Snowberry Land Company	12-12984	-	-
Speed Mining LLC	12-12985	-	3,021
Sterling Smokeless Coal Company, LLC	12-12986	-	-
TC Sales Company, LLC	12-12987	-	-
The Presidents Energy Company LLC	12-12988	-	-
Thunderhill Coal LLC	12-12989	-	-
Trout Coal Holdings, LLC	12-12990	-	-
Union County Coal Co., LLC	12-12991	-	-
Viper LLC	12-12992	-	-
Weatherby Processing LLC	12-12993	-	-
Wildcat Energy LLC	12-12994	-	536
Wildcat, LLC	12-12995	-	23
Will Scarlet Properties LLC	12-12996	-	45
Winchester LLC	12-12997	-	-
Winifrede Dock Limited Liability Company	12-12998	-	24
Yankeetown Dock, LLC	12-12999	-	-

Notes to MOR-1:

Cash receipts and disbursements are for the period September 1, 2012 through September 30, 2012.

Cash receipts are collected at the Patriot Coal Corporation entity, where the cash remains. Cash disbursements are also made from Patriot Coal Corporation; however, we allocated these disbursements based upon the entity for whom the payment was being made.


In re Patriot Coal Corporation	Form No.	MOR-1a
	Case No. (Jointly Administered)	12-12900
	Reporting Period:	30-Sep-12

	Federal Tax I.D. #	20-5622045



Bank Account Information
(Amounts in thousands)


Legal Entity	Case Number	Bank Name / Address	Account Number	Bank Balance
PCX Enterprises, Inc.	12-12899	Capital One Bank, 404 Fifth Ave., 4th Floor, New York, NY 10018	3612	$	98
Patriot Coal Corporation	12-12900	Bank of America, 901 Main Street, 7th Floor, Dallas, TX 75202	7867		35,455
Patriot Coal Corporation	12-12900	Bank of America, 901 Main Street, 7th Floor, Dallas, TX 75202	1665		-
Patriot Coal Corporation	12-12900	Bank of America, 901 Main Street, 7th Floor, Dallas, TX 75202	8796		320,000
Patriot Coal Corporation	12-12900	Bank of America, 901 Main Street, 7th Floor, Dallas, TX 75202	1872		-
Patriot Coal Corporation	12-12900	PNC Bank, 201 East Fifth Street, Cincinnati, OH 45202	0808		92
Patriot Coal Corporation	12-12900	PNC Bank, 201 East Fifth Street, Cincinnati, OH 45202	0744		2,000
Patriot Coal Corporation	12-12900	PNC Bank, 201 East Fifth Street, Cincinnati, OH 45202	0736		5,000
Patriot Coal Corporation	12-12900	The Private Bank and Trust, 1401 South Brentwood Blvd., Saint Louis, MO 63144	0847		-
Patriot Coal Corporation	12-12900	The Private Bank and Trust, 1401 South Brentwood Blvd., Saint Louis, MO 63144	9577		20,001
Patriot Coal Corporation	12-12900	Comerica Bank, 1717 Main Street, Dallas, TX 75201	0469		-
Patriot Coal Corporation	12-12900	Sovereign/Santander, One Aldwyn Center, Villanova, PA 19085	0078		-
Patriot Coal Corporation	12-12900	BB&T , 233 Wyndale Road, PO Box 1209, Abingdon, VA 24212	0285		-
Patriot Coal Corporation	12-12900	Old National Bank, PO Box 23, Henderson, KY 42419-0023	5798		19
Patriot Coal Corporation	12-12900	United National Bank (WV), 500 Virginia Street East, Charleston, WV 25301	9778		5
Patriot Coal Corporation	12-12900	Reich and Tang, 1411 Broadway, 28th Floor, New York, NY 10018	0688		-
Apogee Coal Company, LLC	12-12903	Logan Bank and Trust Company	3013		3
Appalachia Mine Services, LLC	12-12904	Premier Bank Boone Division, 300 State Street, Madison, WV 25130	9760		4
Catenary Coal Company, LLC	12-12913	City National Bank, 25 Gatewater Road, P.O. Box 7520, Charleston, WV 25356-0520	6124		9
Dodge Hill Mining Company, LLC	12-12931	Old National Bank, PO Box 718, Evansville, IN 47705	4618		6
Eastern Associated Coal, LLC	12-12934	Boone County Bank, PO Box 7, Madison, WV 25130	2203		5
Eastern Associated Coal, LLC	12-12934	Clear Mountain Bank, PO Box 205, Bruceton Mills, WV 26525	3650		9
Emerald Processing, L.L.C.	12-12937	TruPoint Bank, 1897 Lee Highway, Bristol, VA 24202	7076		6
Emerald Processing, L.L.C.	12-12937	TruPoint Bank, 1897 Lee Highway, Bristol, VA 24202	4393		15
Heritage Coal Company LLC	12-12940	Old National Bank, PO Box 718, Evansville, IN 47705	9523		3
Heritage Coal Company LLC	12-12940	US Bank, EP-MN-WS3C, 60 Livingston Ave, 3rd Floor, St Paul, MN 55107	6000		-
Highland Mining Company, LLC	12-12941	Old National Bank, PO Box 718, Evansville, IN 47705	3346		2
Hobet Mining, LLC	12-12943	United Bank, 500 Virginia Street East, Charleston, WV 25301	5973		4
Kanawha Eagle Coal, LLC	12-12950	Whitesville State Bank, P.O. Box 68, Whitesville, WV 25209	9116		4
Kanawha Eagle Coal, LLC	12-12950	BB&T , 233 Wyndale Road, PO Box 1209, Abingdon, VA 24212	0365		-
Magnum Coal Company LLC	12-12957	Huntington Bank, 919 5th Ave., Huntington, WV 25701	8169		-
Midland Trail Energy LLC	12-12960	City National Bank, 25 Gatewater Road, P.O. Box 7520, Charleston, WV 25356-0520	7457		3
Newtown Energy, Inc.	12-12964	TruPoint Bank, 1897 Lee Highway, Bristol, VA 24202	7068		2
Newtown Energy, Inc.	12-12964	TruPoint Bank, 1897 Lee Highway, Bristol, VA 24202	4628		8
Panther LLC	12-12967	City National Bank, 25 Gatewater Road, P.O. Box 7520, Charleston, WV 25356-0520	0773		2
Panther LLC	12-12967	City National Bank, 25 Gatewater Road, P.O. Box 7520, Charleston, WV 25356-0520	1670		4
Patriot Coal Company, L.P.	12-12968	Ohio Valley National Bank, PO Box 5, Henderson, KY 42420	9129		7
Pine Ridge Coal Company, LLC	12-12975	Whitesville State Bank, P.O. Box 68, Whitesville, WV 25209	6286		closed
Robin Land Company, LLC	12-12982	Huntington Bank, 919 5th Ave., Huntington, WV 25701	1897		3

Notes to MOR-1a:

All amounts listed above are the bank balances as of month end. Copies of bank statements and cash disbursement journals were not included with the MOR, but will be made available upon request.


In re Patriot Coal Corporation	Form No.	MOR-2
	Case No. (Jointly Administered)	12-12900
	Reporting Period:	30-Sep-12

	Federal Tax I.D. #	20-5622045



Statements of Operations
For the Month Ended September 30, 2012
(Amounts in thousands)


										Consolidated
	Debtor			Non-Debtor						Patriot Coal
	Entities			Entities			Eliminations			Corporation
Revenues
Sales	$	142,706		$	-		$	-		$	142,706
Other revenues		1,867			-			-			1,867

Total revenues		144,573			-			-			144,573
Cost and expenses
Operating costs and expenses		131,618			1						131,619
Depreciation, depletion and amortization		17,759			-			-			17,759
Asset retirement obligation expense		6,370			-			-			6,370
Restructuring and impairment charge		18,387			-			-			18,387
Selling and administrative expenses		4,313			-			-			4,313
Net (gain) loss on disposal or exchange of assets		(325	)		-			-			(325	)
Income from equity affiliates		-			(1,264	)					(1,264	)
Income from non-debtor entities		(1,263	)		-			1,263			-

Operating profit (loss)		(32,286	)		1,263			(1,263	)		(32,286	)
Interest expense and other		4,764			-			-			4,764
DIP Financing Fees		1,310			-			-			1,310
Interest income		(6	)		-			-			(6	)

Income (loss) before reorganization items and income taxes		(38,354	)		1,263			(1,263	)		(38,354	)
Reorganization items, net (1)		12,173			-			-			12,173

Income (loss) before income taxes		(50,527	)		1,263			(1,263	)		(50,527	)
Income tax benefit		(8	)		-			-			(8	)
Net Income (loss)	$	(50,519	)	$	1,263		$	(1,263	)	$	(50,519	)

Notes to MOR-2:

(1)	The Company’s reorganization items for the month ended September 30, 2012 consisted of the following:


Provision for rejected executory contracts and leases	$	9,231
Professional fees		5,057
Accounts payable settlement gains		(2,115	)

	$	12,173

Professional fees are only those that are directly related to the reorganization and include fees associated with advisors to the Debtors, the statutory committee of unsecured creditors and certain secured creditors.


In re Patriot Coal Corporation	Form No.	MOR-3
	Case No. (Jointly Administered)	12-12900
	Reporting Period:	30-Sep-12

	Federal Tax I.D. #	20-5622045



Balance Sheets
September 30, 2012
(Amounts in thousands)


							Consolidated
	Debtor		Non-Debtor				Patriot Coal
	Entities		Entities		Eliminations		Corporation
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	382,784	$	-	$	-	$	382,784
Accounts receivable and other, net of allowance		98,558		-		-		98,558
Inventories		128,535		-		-		128,535
Prepaid expenses and other current assets		30,350		-		-		30,350

Total current assets		640,227		-		-		640,227
Property, plant, equipment, and amortization, net
Land and coal interests		2,901,082		-		-		2,901,082
Buildings and improvements		554,874		-		-		554,874
Machinery and equipment		771,300		-		-		771,300
Less accumulated depreciation, depletion and amortization		(1,087,449)		-		-		(1,087,449)

Property, plant, equipment and mine development, net		3,139,807		-		-		3,139,807
Cash collateralization deposits		60,990		-		-		60,990
Investments and other assets		4,516		28,103		-		32,619
Investments in non-debtor entities		23,377		-		(23,377)		-
Intercompany receivable (payable)		4,726		(4,726)		-		-

Total assets	$	3,873,643	$	23,377	$	(23,377)	$	3,873,643


LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

CURRENT LIABILITIES
Accounts payable and accrued expenses	$	283,641	$	-	$	-	$	283,641
Current portion of debt		398		-		-		398

Total current liabilities		284,039		-		-		284,039
Long-term debt, less current maturities		376,872		-		-		376,872
Asset retirement obligation		743,095		-		-		743,095
Workers’ compensation obligations		239,284		-		-		239,284
Postretirement benefit obligations		91,344		-		-		91,344
Obligation to industry fund		32,897		-		-		32,897
Other noncurrent liabilities		24,125		-		-		24,125

Total liabilities not subject to compromise		1,791,656		-		-		1,791,656

Liabilities subject to compromise (1)		2,090,743		-		-		2,090,743

Total liabilities		3,882,399		-		-		3,882,399

Stockholders’ equity (deficit)		(8,756)		23,377		(23,377)		(8,756)

Total liabilities and stockholders’ equity (deficit)	$	3,873,643	$	23,377	$	(23,377)	$	3,873,643


In re Patriot Coal Corporation	Form No.	MOR-3
	Case No. (Jointly Administered)	12-12900
	Reporting Period:	30-Sep-12

	Federal Tax I.D. #	20-5622045



Balance Sheets
September 30, 2012
(Amounts in thousands)

Notes to MOR-3:

(1) Liabilities subject to compromise represent unsecured obligations that will be accounted for under a plan of reorganization. Generally, actions to enforce or otherwise affect payment of pre-petition liabilities are stayed. Accounting Standards Codification (ASC) 852 requires pre-petition liabilities that are subject to compromise to be reported at the amounts expected to be allowed, even if they may be settled for lesser amounts. These liabilities represent the amounts expected to be allowed on known or potential claims to be resolved through the Chapter 11 process, and remain subject to future adjustments arising from negotiated settlements, actions of the Bankruptcy Court, rejection of executory contracts and unexpired leases, the determination as to the value of collateral securing the claims, proofs of claim, and other events. Liabilities subject to compromise also include certain items that may be assumed under the plan of reorganization, and as such, may be subsequently reclassified to liabilities not subject to compromise.

The Bankruptcy Court has approved payment of certain pre-petition obligations, including employee wages, salaries and certain benefits and payments to certain shippers and critical vendors. The Debtors can continue to pay vendors and other providers in the ordinary course for goods and services received after the filing of the Chapter 11 petitions and other business related payments necessary to maintain the operations of the Debtors’ businesses. Obligations associated with these matters are not classified as liabilities subject to compromise.

With the approval of the Bankruptcy Court, the Debtors have rejected certain pre-petition executory contracts and unexpired leases with respect to the Debtors’ operations and may reject additional ones in the future. Damages resulting from rejection of executory contracts and unexpired leases are generally treated as general unsecured claims and are classified as liabilities subject to compromise. Holders of pre-petition claims are required to file proofs of claims by the “bar date.” On October 18, 2012, the Bankruptcy Court entered an order establishing December 14, 2012 as the bar date for potential creditors other than governmental units to file claims (the “General Bar Date”). The bar date for governmental units to file claims was established as January 21, 2013 (the “Governmental Bar Date”). A bar date is the date by which certain claims against the Debtors must be filed if the claimants wish to receive any distribution in the Chapter 11 Cases. Once a bar date is established, creditors will be notified of the bar date and the requirements to file a proof of claim with the Bankruptcy Court. Differences between liability amounts estimated by the Debtors and claims filed by creditors will be investigated and, if necessary, the Bankruptcy Court will make a final determination as to the amount of the allowable claim. The determination of how liabilities will ultimately be treated cannot be made until the Bankruptcy Court approves a plan of reorganization. The Debtors will continue to evaluate these liabilities throughout the Chapter 11 Cases and adjust amounts as necessary. Such adjustments may be material. In light of the expected number of creditors, the claims resolutions process may take considerable time to complete. Accordingly, the ultimate amount or treatment of such liabilities is not determinable at this time.

Liabilities subject to compromise at September 30, 2012 consisted of the following:


Postretirement benefit obligations	$	1,366,958
Unsecured debt		458,500
Interest payable		4,838
Trade payables		101,850
Sales-related liabilities		68,374
Rejected executory contracts and leases		38,425
Employee claims		14,434
Other accruals		37,364

	$	2,090,743

Other accruals primarily includes liabilities subject to compromise related to accrued royalty payments, litigation reserves and other operating accruals.


In re Patriot Coal Corporation	Form No.	MOR-4
	Case No. (Jointly Administered)	12-12900
	Reporting Period:	30-Sep-12

	Federal Tax I.D. #	20-5622045



Status of Post-Petition Taxes
For the Month Ended September 30, 2012
(Amounts in thousands)


	Beginning Tax (Asset) Liability		Amount Withheld and/or Accrued		Amount Paid		Ending Tax (Asset) Liability
Payroll Taxes – Federal, State and Local	$	1,355	$	8,675	$	(8,224)	$	1,806

Federal Taxes, excluding Payroll Taxes
Federal Production Tax		1,234		1,372		(1,341)		1,265
Federal Income Tax		(310)		-		-		(310)

Total Federal Taxes, excluding Payroll Taxes		924		1,372		(1,341)		955

State and Local Taxes, excluding Payroll Taxes
State Production Tax		25,657		6,864		(6,415)		26,106
Real Estate Tax		5,220		673		-		5,893
Personal Property Tax		3,529		841		(790)		3,580
Sales Tax		1		-		-		1
Use Tax		246		123		(171)		198
Franchise Tax		704		(710)		(25)		(31)
Other Taxes		71		67		-		138

Total State and Local Taxes, excluding Payroll Taxes		35,428		7,858		(7,401)		35,885

Total Taxes	$	37,707	$	17,905	$	(16,966)	$	38,646

Notes to MOR-4

Tax payments may include certain pre-petition payments that were authorized through motions approved by the Bankruptcy Court.


In re Patriot Coal Corporation	Form No.	MOR-6
	Case No. (Jointly Administered)	12-12900
	Reporting Period:	30-Sep-12

	Federal Tax I.D. #	20-5622045



Schedule of Payments to Professionals
For the Month Ended September 30, 2012
(Amounts in thousands)


		Amount Paid
Professional	Role	Month		Cumulative from July 9, 2012
AlixPartners/AP Services	Bankruptcy & Restructuring Advisors	$	163	$	163
Blackstone Advisory Partners L.P.	Investment Banker		125		125
Curtis, Mallet-Prevost, Colt & Mosle LLP	Conflicts Counsel		150		150
Davis Polk & Wardwell LLP	Special Counsel		3,039		3,039
GCG, Inc.	Notice, Claim & Administrative Agent		727		750
Weil, Gotshal & Manges LLP	DIP Lender Counsel		664		664
Willkie Farr & Gallagher LLP	DIP Lender Counsel		671		671

Notes to MOR-6:

Professional fees do not include payments to professionals or consultants that are paid in the ordinary course of business.


In re Patriot Coal Corporation	Form No.	MOR-7
	Case No. (Jointly Administered)	12-12900
	Reporting Period:	30-Sep-12

	Federal Tax I.D. #	20-5622045



Debtor Questionnaire
For the Month Ended September 30, 2012

Must be completed each month. If the answer to any of the questions is “Yes”, provide a detailed
explanation of each item. Attach additional sheets if necessary.

Yes

Explanation

Have any assets been sold or transferred outside the normal course of business this reporting period?

Have any funds been disbursed from any account other than a debtor in possession account this reporting period?

Is the Debtor delinquent in the timely filing of any post-petition tax returns?

Are workers compensation, general liability or other necessary insurance coverages expired or cancelled, or has the debtor received notice of expiration or cancellation of such policies?

Is the Debtor delinquent in paying any insurance premium payment?

Have any payments been made on pre-petition liabilities this reporting period?

Only per motions
approved by the court

Are any post petition receivables (accounts, notes or loans) due from related parties?

Normal course of
business

Are any post petition payroll taxes past due?

Are any post petition State or Federal income taxes past due?

Are any post petition real estate taxes past due?

Are any other post petition taxes past due?

Have any pre-petition taxes been paid during this reporting period?

Only per motions
approved by the court

Are any amounts owed to post petition creditors delinquent?

Are any wage payments past due?

Have any post petition loans been received by the Debtor from any party?

Is the Debtor delinquent in paying any U.S. Trustee fees?

Is the Debtor delinquent with any court ordered payments to attorneys or other professionals?

Have the owners or shareholders received any compensation outside of the normal course of business?

Case No. (Jointly Administered)

Reporting Period:

12-12900

30-Sep-12

Federal Tax I.D. #

20-5622045