Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - ENDEAVOUR INTERNATIONAL CORP | d881129d8k.htm |
Exhibit 99.1
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
| In re: Endeavour Operating Corporation, et al.1 | Case No. 14-12308 | |
| Reporting Period: 1/1/15 – 1/31/15 |
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 |
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| 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 |
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| Cash disbursements journals |
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| 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 |
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| Copies of tax returns filed during reporting period |
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| 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.
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| Signature of Debtor |
Date | |||
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| Signature of Joint Debtor |
Date | |||
| /s/ Catherine L. Stubbs |
2/26/15 | |||
| 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 re Endeavour Operating Corporation, et al. | Case No. 14-12308 | |
| Debtor | Reporting Period: 1/1/15 – 1/31/15 |
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 |
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| CASH SALES |
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| ACCOUNTS RECEIVABLE |
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| LOANS AND ADVANCES |
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| SALE OF ASSETS |
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| OTHER (ATTACH LIST) |
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| TRANSFERS (FROM DIP ACCTS) |
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| TOTAL RECEIPTS |
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| DISBURSEMENTS |
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| NET PAYROLL |
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| PAYROLL TAXES |
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| SALES, USE & OTHER TAXES |
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| INVENTORY PURCHASES |
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| SECURED RENTAL/LEASES |
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| INSURANCE |
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| ADMINISTRATIVE |
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| SELLING |
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| OTHER (ATTACH LIST) |
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| OWNER DRAW* |
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| TRANSFERS (TO DIP ACCTS) |
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| PROFESSIONAL FEES |
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| U.S. TRUSTEE QUARTERLY FEES |
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| COURT COSTS |
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| TOTAL DISBURSEMENTS |
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| NET CASH FLOW |
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| (RECEIPTS LESS DISBURSEMENTS) |
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| CASH - END OF MONTH |
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| * | 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 |
$ | |||
| LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS |
$ | |||
| PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCES (i.e. from escrow accounts) |
$ | |||
| TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES |
$ | |||
EXHIBIT A
Schedule of Cash Receipts and Disbursements
| (In Millions) | October 10, 2014 - October 31, 2014 |
November 1, 2014 - November 30, 2014 |
December 1, 2014 - December 31, 2014 |
January 1, 2015 - January 31, 2015 |
Cumulative | |||||||||||||||
| Cash, Beginning of Period |
$ | 37.0 | $ | 37.3 | $ | 35.1 | $ | 32.0 | $ | 37.0 | ||||||||||
| Inflows: |
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| US Revenue |
$ | 0.3 | $ | 0.5 | $ | 1.0 | $ | 0.7 | $ | 2.5 | ||||||||||
| Misc Revenue |
— | 0.6 | — | — | 0.6 | |||||||||||||||
| JIB Receipts |
0.6 | — | — | — | 0.6 | |||||||||||||||
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| Total Inflows |
$ | 0.9 | $ | 1.1 | $ | 1.0 | $ | 0.7 | $ | 3.7 | ||||||||||
| Outflows: |
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| Capital Projects |
$ | (0.1 | ) | $ | (0.7 | ) | $ | (1.9 | ) | $ | (1.4 | ) | $ | (4.1 | ) | |||||
| Operating Costs |
— | (0.1 | ) | — | (0.2 | ) | (0.3 | ) | ||||||||||||
| G&A/Other |
(0.4 | ) | (2.5 | ) | (1.5 | ) | (1.0 | ) | (5.4 | ) | ||||||||||
| Professionals |
(0.1 | ) | — | (4.1 | ) | (0.9 | ) | (5.1 | ) | |||||||||||
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| Total Outflows |
$ | (0.6 | ) | $ | (3.3 | ) | $ | (7.5 | ) | $ | (3.5 | ) | $ | (14.9 | ) | |||||
| IC Transfers: |
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| Restructuring Costs |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| US G&A |
— | — | 3.3 | — | 3.3 | |||||||||||||||
| US Capex |
— | — | — | — | — | |||||||||||||||
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| Net Cash Flow |
$ | 0.3 | $ | (2.2 | ) | $ | (3.1 | ) | $ | (2.8 | ) | $ | (7.8 | ) | ||||||
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| Cash, End of Period |
$ | 37.3 | $ | 35.1 | $ | 32.0 | $ | 29.2 | $ | 29.2 | ||||||||||
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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: | 1/1/2015 – 1/31/2015 | ||||
For the Period January 1, 2015 to January 31, 2015
Declaration Regarding the Reconciliation of the Debtor’s Bank Accounts as of January 31, 2015.
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 January 31, 2015 have been reconciled in an accurate and timely manner. Copies of the bank reconciliations are available for inspection upon request by the Office of the United States Trustee. |
| Dated: February 26, 2015 | 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. |
| Bank Account Summary |
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| Bank |
Account # Last 4 |
Holder | Book balance at October 31, 2014 |
Book balance at November 30, 2014 |
Book balance at December 31, 2014 |
Book balance at January 31, 2015 |
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| JP Morgan Chase |
1267 | Endeavour Energy Luxembourg | $ | 10,000.00 | $ | 10,000.00 | $ | 10,000.00 | $ | 10,000.00 | ||||||||||
| BGL BNP Paribas |
0713 | Endeavour Energy Luxembourg | € | 16,280.66 | € | 20,272.68 | € | 1,077.18 | € | 1,075.98 | ||||||||||
| JP Morgan Chase |
5082 | Endeavour Operating Corporation | $ | 959,503.06 | $ | 968,088.38 | $ | 273,820.04 | $ | 73,818.69 | ||||||||||
| JP Morgan Chase |
6265 | Endeavour Operating Corporation | $ | 36,340,127.43 | $ | 34,253,943.49 | $ | 31,764,424.96 | $ | 28,911,743.14 | ||||||||||
| JP Morgan Chase |
0539 | Endeavour Operating Corporation | $ | 17,000.00 | $ | 17,000.00 | $ | 17,000.00 | $ | 17,000.00 | ||||||||||
| In re Endeavour International Corporation, et al., |
Case No. 14-12308 | |
| Debtor |
Reporting Period: 10/10/2014 – 1/31/2015 |
SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID
This schedule is to include all retained professional payments from case inception to current month.
| Period Covered |
Amount Covered |
Check | Amount Paid | Period-To-Date | ||||||||||||||||||||||||
| Payee |
Payor |
Number | Date | Fees | Expenses | Fees | Expenses | |||||||||||||||||||||
| Kurtzman Carson Consultants |
11/1/2014 - 11/30/2014 |
$ | 13,968.00 | Endeavour Operating Corporation | CHIP REF 484138**4 |
11/10//2014 | NONE | $ | 13,968.00 | NONE | $ | 13,968.00 | ||||||||||||||||
| Weil, Gotshal & Manges LLP |
10/10/2014 - 10/31/2014 |
$ | 659,215.10 | Endeavour Operating Corporation | JPM REF: 13957**5JO |
12/31/2014 | $ | 646,025.40 | $ | 13,189.76 | $ | 646,025.40 | $ | 13,189.76 | ||||||||||||||
| Blackstone Advisory Partners LP |
10/10/2014 - 10/31/2014 |
$ | 95,414.73 | Endeavour Operating Corporation | JPM REF: 13958**5JO |
12/31/2014 | $ | 94,838.71 | $ | 576.02 | $ | 94,838.71 | $ | 576.02 | ||||||||||||||
| Opportune LLP |
10/10/2014 - 10/31/2014 |
$ | 287,770.31 | Endeavour Operating Corporation | FED WIRE: 0109***833 |
1/9/2015 | $ | 271,729.50 | $ | 16,040.81 | $ | 271,729.50 | $ | 16,040.81 | ||||||||||||||
| In re Endeavour Operating Corporation, et al. |
Case No. 14-12308 | |
| Debtor |
Reporting Period: 1/1/2015 – 1/31/2015 |
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.
| REVENUES |
Month | Cumulative Filing to Date | ||
| Gross Revenues | SEE ATTACHED EXHIBIT B | |||
| Less: Returns and Allowances |
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| Net Revenue |
$ | $ | ||
| COST OF GOODS SOLD |
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| Beginning Inventory |
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| Add: Purchases |
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| Add: Cost of Labor |
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| Add: Other Costs (attach schedule) |
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| Less: Ending Inventory |
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| Cost of Goods Sold |
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| Gross Profit |
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| OPERATING EXPENSES |
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| Advertising |
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| Auto and Truck Expense |
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| Bad Debts |
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| Contributions |
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| Employee Benefits Programs |
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| Insider Compensation* |
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| Insurance |
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| Management Fees/Bonuses |
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| Office Expense |
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| Pension & Profit-Sharing Plans |
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| Repairs and Maintenance |
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| Rent and Lease Expense |
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| Salaries/Commissions/Fees |
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| Supplies |
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| Taxes - Payroll |
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| Taxes - Real Estate |
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| Taxes - Other |
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| Travel and Entertainment |
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| Utilities |
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| Other (attach schedule) |
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| Total Operating Expenses Before Depreciation |
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| Depreciation/Depletion/Amortization |
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| Net Profit (Loss) Before Reorganization Items |
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| OTHER INCOME AND EXPENSES |
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| Other Income (attach schedule) |
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| Interest Expense |
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| Other Expense (attach schedule) |
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| Net Profit (Loss) Before Reorganization Items |
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| REORGANIZATION ITEMS |
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| Professional Fees |
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| U.S. Trustee Quarterly Fees |
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| Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet) |
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| Gain (Loss) from Sale of Equipment |
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| Other Reorganization Expenses (attach schedule) |
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| Total Reorganization Expenses |
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| Income Taxes |
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| Net Profit (Loss) |
$ | $ | ||
| * | “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 - | January 1, 2015 - | |||||||||||||||||
| October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2015 | 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 | 7,564 | (2,013 | ) | 94,264 | ||||||||||||||
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| Total Expenses |
$ | 1,430 | $ | 87,282 | $ | 7,564 | $ | (2,013 | ) | $ | 94,264 | |||||||||
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| Operating Profit (Loss) |
$ | (1,430 | ) | $ | (87,282 | ) | $ | (7,564 | ) | $ | 2,013 | $ | (94,264 | ) | ||||||
| Gain/Loss on Derivative Instruments |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Total Interest Expense |
— | — | — | — | — | |||||||||||||||
| Interest Income |
(3,752,903 | ) | (5,540,000 | ) | (5,540,000 | ) | (5,540,000 | ) | (20,372,903 | ) | ||||||||||
| 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 | ) | $ | (5,540,000 | ) | $ | (5,540,000 | ) | $ | (20,372,903 | ) | |||||
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| Income (Loss) Before Tax & Preferred Dividends |
$ | 3,751,473 | $ | 5,452,718 | $ | 5,532,436 | $ | 5,542,013 | $ | 20,278,640 | ||||||||||
| Income Tax Expense |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
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| Income (Loss) Before Preferred Dividends |
$ | 3,751,473 | $ | 5,452,718 | $ | 5,532,436 | $ | 5,542,013 | $ | 20,278,640 | ||||||||||
| Preferred Stock Dividends |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Net Income (Loss) |
$ | 3,751,473 | $ | 5,452,718 | $ | 5,532,436 | $ | 5,542,013 | $ | 20,278,640 | ||||||||||
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Endeavour Energy Luxembourg Sarl Statement of Operations
| October 11, 2014 - | November 1 2014 - | December 1, 2014 - | January 1, 2015 - | |||||||||||||||||
| October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2015 | 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 | — | 491 | 1 | 51,416 | |||||||||||||||
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| Total Expenses |
$ | 50,924 | $ | — | $ | 491 | $ | 1 | $ | 51,416 | ||||||||||
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| Operating Profit (Loss) |
$ | (50,924 | ) | $ | — | $ | (491 | ) | $ | (1 | ) | $ | (51,416 | ) | ||||||
| Gain/Loss on Derivative Instruments |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Total Interest Expense |
— | — | — | — | — | |||||||||||||||
| Interest Income |
— | — | — | — | — | |||||||||||||||
| Transaction Costs |
— | — | — | — | — | |||||||||||||||
| Total Letter of Credit Fees |
— | — | — | — | — | |||||||||||||||
| Foreign Currency Exchange (Gain) Loss |
(110 | ) | (202 | ) | (1,544 | ) | — | (1,855 | ) | |||||||||||
| Litigation Settlements |
— | — | — | — | — | |||||||||||||||
| Net Other (Income) Expense |
— | — | 102,648 | — | 102,648 | |||||||||||||||
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| Other Income (Expense) |
$ | (110 | ) | $ | (202 | ) | $ | 101,104 | $ | — | $ | 100,793 | ||||||||
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| Income (Loss) Before Tax & Preferred Dividends |
$ | (50,814 | ) | $ | 202 | $ | (101,595 | ) | $ | (1 | ) | $ | (152,209 | ) | ||||||
| Income Tax Expense |
$ | — | $ | — | $ | — | — | — | ||||||||||||
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| Income (Loss) Before Preferred Dividends |
$ | (50,814 | ) | $ | 202 | $ | (101,595 | ) | $ | (1 | ) | $ | (152,209 | ) | ||||||
| Preferred Stock Dividends |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Net Income (Loss) |
$ | (50,814 | ) | $ | 202 | $ | (101,595 | ) | $ | (1 | ) | $ | (152,209 | ) | ||||||
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Endeavour New Ventures, Inc. Statement of Operations
| October 11, 2014 - October 31, 2014 |
November 1 2014 - November 30, 2014 |
December 1, 2014 - December 31, 2014 |
January 1, 2015 - January 31, 2015 |
Cumulative | ||||||||||||||||
| Oil Revenue |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Gas Revenues |
— | — | — | — | — | |||||||||||||||
| Liquids Revenues |
— | — | — | — | — | |||||||||||||||
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| Revenue |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Operating Expenses |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Total DD&A Expense |
— | — | — | — | — | |||||||||||||||
| Goodwill Impairment Loss |
— | — | — | — | — | |||||||||||||||
| General & Administrative Expense |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Expenses |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 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 |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Other Income (Expense) |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Income (Loss) Before Tax & Preferred Dividends |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Income Tax Expense |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Income (Loss) Before Preferred Dividends |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Preferred Stock Dividends |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Net Income (Loss) |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Endeavour Management Company Statement of Operations
| October 11, 2014 - October 31, 2014 |
November 1 2014 - November 30, 2014 |
December 1, 2014 - December 31, 2014 |
January 1, 2015 - January 31, 2015 |
Cumulative | ||||||||||||||||
| Oil Revenue |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Gas Revenues |
— | — | — | — | — | |||||||||||||||
| Liquids Revenues |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Revenue |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Operating Expenses |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Total DD&A Expense |
— | — | — | — | — | |||||||||||||||
| Goodwill Impairment Loss |
— | — | — | — | — | |||||||||||||||
| General & Administrative Expense |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Expenses |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| 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 |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Other Income (Expense) |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Income (Loss) Before Tax & Preferred Dividends |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Income Tax Expense |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Income (Loss) Before Preferred Dividends |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Preferred Stock Dividends |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Net Income (Loss) |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Endeavour Colorado Corporation Statement of Operations
| October 11, 2014 - October 31, 2014 |
November 1 2014 - November 30, 2014 |
December 1, 2014 - December 31, 2014 |
January 1, 2015 - January 31, 2015 |
Cumulative | ||||||||||||||||
| Oil Revenue |
$ | — | $ | — | $ | 496,214 | $ | 919 | $ | 497,133 | ||||||||||
| Gas Revenues |
— | — | — | — | — | |||||||||||||||
| Liquids Revenues |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Revenue |
$ | — | $ | — | $ | 496,214 | $ | 919 | $ | 497,133 | ||||||||||
| Operating Expenses |
$ | 17 | $ | — | $ | 21,189 | $ | 5,741 | $ | 26,946 | ||||||||||
| Total DD&A Expense |
232 | 345 | 42,492 | 2,528 | 45,597 | |||||||||||||||
| Goodwill Impairment Loss |
— | — | — | — | — | |||||||||||||||
| General & Administrative Expense |
— | — | — | 29,325 | 29,325 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Expenses |
$ | 249 | $ | 345 | $ | 63,680 | $ | 37,594 | $ | 101,868 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Operating Profit (Loss) |
$ | (249 | ) | $ | (345 | ) | $ | 432,534 | $ | (36,675 | ) | $ | 395,265 | |||||||
| Gain/Loss on Derivative Instruments |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Total Interest Expense |
— | (20,906 | ) | (10,453 | ) | (11,048 | ) | (42,407 | ) | |||||||||||
| 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 | ) | $ | (10,453 | ) | $ | (11,048 | ) | $ | (42,407 | ) | ||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Income (Loss) Before Tax & Preferred Dividends |
$ | (249 | ) | $ | 20,561 | $ | 442,987 | $ | (25,627 | ) | $ | 437,672 | ||||||||
| Income Tax Expense |
$ | — | $ | — | $ | — | $ | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Income (Loss) Before Preferred Dividends |
$ | (249 | ) | $ | 20,561 | $ | 442,987 | $ | (25,627 | ) | $ | 437,672 | ||||||||
| Preferred Stock Dividends |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Net Income (Loss) |
$ | (249 | ) | $ | 20,561 | $ | 442,987 | $ | (25,627 | ) | $ | 437,672 | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Endeavour Operating Corporation Statement of Operations
| October 11, 2014 - October 31, 2014 |
November 1 2014 - November 30, 2014 |
December 1, 2014 - December 31, 2014 |
January 1, 2015 - January 31, 2015 |
Cumulative | ||||||||||||||||
| Oil Revenue |
$ | (308 | ) | $ | 481,252 | $ | (489,963 | ) | $ | (216 | ) | $ | (9,235 | ) | ||||||
| Gas Revenues |
267,948 | 438,012 | 354,851 | 256,188 | 1,316,998 | |||||||||||||||
| Liquids Revenues |
— | — | — | 802 | 802 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Revenue |
$ | 267,640 | $ | 919,264 | $ | (135,113 | ) | $ | 256,774 | $ | 1,308,565 | |||||||||
| Operating Expenses |
$ | 281,826 | $ | 471,302 | $ | (59,008 | ) | $ | 623,127 | $ | 1,317,246 | |||||||||
| Total DD&A Expense |
76,954 | 148,293 | 63,284 | 97,125 | 385,656 | |||||||||||||||
| Goodwill Impairment Loss |
— | — | — | — | — | |||||||||||||||
| General & Administrative Expense |
12,943 | 45,837 | (139,734 | ) | (8,390 | ) | (89,343 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Expenses |
$ | 371,723 | $ | 665,433 | $ | (135,458 | ) | $ | 711,862 | $ | 1,613,560 | |||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Operating Profit (Loss) |
$ | (104,083 | ) | $ | 253,831 | $ | 345 | $ | (455,088 | ) | $ | (304,994 | ) | |||||||
| Gain/Loss on Derivative Instruments |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Total Interest Expense |
3,753,039 | 5,182,950 | 5,361,592 | 5,354,472 | 19,652,052 | |||||||||||||||
| Interest Income |
(3,387,097 | ) | (5,000,000 | ) | (5,000,000 | ) | (5,000,000 | ) | (18,387,097 | ) | ||||||||||
| Transaction Costs |
2,326,801 | 13,968 | — | 37,676 | 2,378,445 | |||||||||||||||
| Total Letter of Credit Fees |
— | — | — | — | — | |||||||||||||||
| Foreign Currency Exchange (Gain) Loss |
152 | 360 | 70 | (0 | ) | 582 | ||||||||||||||
| Litigation Settlements |
— | — | — | — | — | |||||||||||||||
| Net Other (Income) Expense |
(127,363 | ) | — | 4,108,574 | 1,209,685 | 5,190,896 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Other Income (Expense) |
$ | 2,565,532 | $ | 197,278 | $ | 4,470,236 | $ | 1,601,833 | $ | 8,834,879 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Income (Loss) Before Tax & Preferred Dividends |
$ | (2,669,615 | ) | $ | 56,553 | $ | (4,469,890 | ) | $ | (2,056,920 | ) | $ | (9,139,873 | ) | ||||||
| Income Tax Expense |
$ | — | $ | 50 | $ | — | $ | — | $ | 50 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Income (Loss) Before Preferred Dividends |
$ | (2,669,615 | ) | $ | 56,503 | $ | (4,469,890 | ) | $ | (2,056,920 | ) | $ | (9,139,923 | ) | ||||||
| Preferred Stock Dividends |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Net Income (Loss) |
$ | (2,669,615 | ) | $ | 56,503 | $ | (4,469,890 | ) | $ | (2,056,920 | ) | $ | (9,139,923 | ) | ||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| In re: Endeavour Operating Corporation, et. al |
Case No. 14-12308 | |
| Debtor |
Reporting Period: 1/1/2015 – 1/31/2015 |
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 |
$ | $ | ||
EXHIBIT C
Endeavour International Corporation Balance Sheet
| Petition Date | ||||||||||||||||||||
| October 11, 2014 | October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2015 | ||||||||||||||||
| Cash & Cash Equivalents |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Restricted Cash - Current |
— | — | — | — | — | |||||||||||||||
| Accounts Receivables |
— | — | — | — | — | |||||||||||||||
| Intercompany Receivables |
463,221,370 | 469,404,392 | 475,419,391 | 474,949,469 | 483,038,721 | |||||||||||||||
| Total Other Current Assets |
16,871,752 | 16,719,198 | 16,717,707 | 16,717,707 | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Current Assets |
$ | 480,093,122 | $ | 486,123,590 | $ | 492,137,098 | $ | 491,667,176 | $ | 483,038,721 | ||||||||||
| Property, Plant & Equipment |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Investments |
57,661,973 | 57,661,973 | 57,661,973 | 57,661,973 | 57,661,973 | |||||||||||||||
| Goodwill |
— | — | — | — | — | |||||||||||||||
| Restricted Cash |
— | — | — | — | — | |||||||||||||||
| Other Assets |
— | — | — | — | — | |||||||||||||||
| Long-Term Intercompany |
554,000,000 | 554,000,000 | 554,000,000 | 554,000,000 | 554,000,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Long Term Assets |
$ | 611,661,973 | $ | 611,661,973 | $ | 611,661,973 | $ | 611,661,973 | $ | 611,661,973 | ||||||||||
| Total Assets |
$ | 1,091,755,095 | $ | 1,097,785,563 | $ | 1,103,799,071 | $ | 1,103,329,149 | $ | 1,094,700,694 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Accounts Payable |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Total Accrued Expenses |
42,710,167 | 44,782,107 | 44,950,450 | 45,141,115 | 43,176,804 | |||||||||||||||
| Current Maturities Of Debt |
693,488,257 | 693,598,349 | 693,598,349 | 693,598,349 | — | |||||||||||||||
| Current Portion - Production Payment |
— | — | — | — | — | |||||||||||||||
| Debtor in Possession |
— | — | — | — | — | |||||||||||||||
| Liabilities Subject to Compromise |
— | — | — | — | 678,796,102 | |||||||||||||||
| Taxes Payable |
— | — | — | — | — | |||||||||||||||
| Intercompany Payable |
709,209 | 669,430 | 648,349 | 1,251,106 | 648,349 | |||||||||||||||
| Total Other Current Liabilities |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Current Liabilities |
$ | 736,907,633 | $ | 739,049,885 | $ | 739,197,148 | $ | 739,990,570 | $ | 722,621,256 | ||||||||||
| Long-Term Debt |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Deferred Tax Liability |
— | — | — | — | — | |||||||||||||||
| ARO Liability |
— | — | — | — | — | |||||||||||||||
| Long Term - Production Payment |
— | — | — | — | — | |||||||||||||||
| Long Term Intercompany |
— | — | — | — | — | |||||||||||||||
| Other Long Term Liabilities |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Liabilities |
$ | 736,907,633 | $ | 739,049,885 | $ | 739,197,148 | $ | 739,990,570 | $ | 722,621,256 | ||||||||||
| Redeemable Preferred Stock |
$ | 17,481,175 | $ | 17,481,175 | $ | 17,481,175 | $ | 17,481,175 | $ | 17,481,175 | ||||||||||
| Preferred Stock |
$ | 20 | $ | 20 | $ | 20 | $ | 20 | $ | 20 | ||||||||||
| Common Stock |
53,016 | 53,013 | 53,013 | 52,895 | 52,895 | |||||||||||||||
| APIC |
560,004,803 | 560,004,806 | 560,883,928 | 554,106,767 | 557,268,612 | |||||||||||||||
| Treasury Stock |
(586,841 | ) | (586,841 | ) | (586,841 | ) | (586,841 | ) | (586,841 | ) | ||||||||||
| Accumulated Earnings (Deficit) |
(222,104,712 | ) | (218,216,496 | ) | (213,229,373 | ) | (207,715,437 | ) | (202,136,424 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Stockholders’ Equity |
$ | 337,366,286 | $ | 341,254,503 | $ | 347,120,748 | $ | 345,857,404 | $ | 354,598,263 | ||||||||||
| Total Liabilities & Stockholders’ Equity |
$ | 1,091,755,093 | $ | 1,097,785,563 | $ | 1,103,799,071 | $ | 1,103,329,149 | $ | 1,094,700,694 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Note: | The balance found in the account titled “Current Maturities of Debt” was moved to a the more appropriately named “Liabilities Subject to Compromise” account for presentation purposes. |
Endeavour Energy Luxembourg Sarl Balance Sheet
| Petition Date October 11, 2014 |
October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2015 | ||||||||||||||||
| Cash & Cash Equivalents |
$ | 46,203 | $ | 45,899 | $ | 30,273 | $ | 11,303 | $ | 11,302 | ||||||||||
| Restricted Cash - Current |
— | — | — | — | — | |||||||||||||||
| Accounts Receivables |
— | — | — | — | — | |||||||||||||||
| Intercompany Receivables |
— | — | — | — | — | |||||||||||||||
| Total Other Current Assets |
233,073 | 228,730 | 228,730 | 228,730 | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Current Assets |
$ | 279,276 | $ | 274,629 | $ | 259,003 | $ | 240,034 | $ | 11,302 | ||||||||||
| Property, Plant & Equipment |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Investments |
— | — | — | — | — | |||||||||||||||
| Goodwill |
— | — | — | — | — | |||||||||||||||
| Restricted Cash |
— | — | — | — | — | |||||||||||||||
| Other Assets |
2,657,667 | 2,708,461 | 2,708,461 | — | — | |||||||||||||||
| Long-Term Intercompany |
78,245,339 | 78,245,339 | 78,245,339 | 78,245,339 | 83,801,266 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Long Term Assets |
$ | 80,903,006 | $ | 80,953,800 | $ | 80,953,800 | $ | 78,245,339 | $ | 83,801,266 | ||||||||||
| Total Assets |
$ | 81,182,282 | $ | 81,228,430 | $ | 81,212,803 | $ | 78,485,373 | $ | 83,812,568 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Accounts Payable |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Total Accrued Expenses |
— | 174,471 | 174,471 | 174,471 | 174,471 | |||||||||||||||
| Current Maturities Of Debt |
82,662,396 | 82,682,642 | 82,682,642 | 79,974,180 | — | |||||||||||||||
| Current Portion - Production Payment |
— | — | — | — | — | |||||||||||||||
| Debtor in Possession |
— | — | — | — | — | |||||||||||||||
| Liabilities Subject to Compromise |
— | — | — | — | 79,847,038 | |||||||||||||||
| Taxes Payable |
55,473 | 55,007 | 54,687 | 53,132 | 53,132 | |||||||||||||||
| Intercompany Payable |
3,094,582 | 3,169,755 | 3,169,755 | 3,253,935 | 3,253,935 | |||||||||||||||
| Total Other Current Liabilities |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Current Liabilities |
$ | 85,812,451 | $ | 86,081,875 | $ | 86,081,554 | $ | 83,455,718 | $ | 83,328,576 | ||||||||||
| Long-Term Debt |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Deferred Tax Liability |
— | — | — | — | — | |||||||||||||||
| ARO Liability |
— | — | — | — | — | |||||||||||||||
| Long Term - Production Payment |
— | — | — | — | — | |||||||||||||||
| Long Term Intercompany |
— | — | — | — | — | |||||||||||||||
| Other Long Term Liabilities |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Liabilities |
$ | 85,812,451 | $ | 86,081,875 | $ | 86,081,554 | $ | 83,455,718 | $ | 83,328,576 | ||||||||||
| Redeemable Preferred Stock |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Preferred Stock |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Common Stock |
— | — | — | — | — | |||||||||||||||
| APIC |
37,485 | 37,485 | 37,485 | 37,485 | 37,485 | |||||||||||||||
| Treasury Stock |
— | — | — | — | — | |||||||||||||||
| Accumulated Earnings (Deficit) |
(4,667,654 | ) | (4,890,930 | ) | (4,906,236 | ) | (5,007,831 | ) | 446,507 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Stockholders’ Equity |
$ | (4,630,169 | ) | $ | (4,853,445 | ) | $ | (4,868,751 | ) | $ | (4,970,346 | ) | $ | 483,992 | ||||||
| Total Liabilities & Stockholders’ Equity |
$ | 81,182,282 | $ | 81,228,430 | $ | 81,212,803 | $ | 78,485,373 | $ | 83,812,568 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Endeavour New Ventures, Inc. Balance Sheet
| Petition Date October 11, 2014 |
October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2015 | ||||||||||||||||
| Cash & Cash Equivalents |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Restricted Cash - Current |
— | — | — | — | — | |||||||||||||||
| Accounts Receivables |
— | — | — | — | — | |||||||||||||||
| Intercompany Receivables |
280,153 | 280,153 | 280,153 | 280,153 | 280,153 | |||||||||||||||
| Total Other Current Assets |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Current Assets |
$ | 280,153 | $ | 280,153 | $ | 280,153 | $ | 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 | $ | 280,153 | $ | 280,153 | $ | 280,153 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Accounts Payable |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Total Accrued Expenses |
— | — | — | — | — | |||||||||||||||
| Current Maturities Of Debt |
— | — | — | — | — | |||||||||||||||
| Current Portion - Production Payment |
— | — | — | — | — | |||||||||||||||
| Debtor in Possession |
— | — | — | — | ||||||||||||||||
| Liabilities Subject to Compromise |
— | — | — | — | — | |||||||||||||||
| 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 | 1 | 1 | 1 | |||||||||||||||
| APIC |
3,478,898 | 3,478,898 | 3,478,898 | 3,478,898 | 3,478,898 | |||||||||||||||
| Treasury Stock |
— | — | — | — | — | |||||||||||||||
| Accumulated Earnings (Deficit) |
(3,198,746 | ) | (3,198,746 | ) | (3,198,746 | ) | (3,198,746 | ) | (3,198,746 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Stockholders’ Equity |
$ | 280,153 | $ | 280,153 | $ | 280,153 | $ | 280,153 | $ | 280,153 | ||||||||||
| Total Liabilities & Stockholders’ Equity |
$ | 280,153 | $ | 280,153 | $ | 280,153 | $ | 280,153 | $ | 280,153 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Endeavour Management Company Balance Sheet
| Petition Date October 11, 2014 |
October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2015 | ||||||||||||||||
| Cash & Cash Equivalents |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Restricted Cash - Current |
— | — | — | — | — | |||||||||||||||
| Accounts Receivables |
— | — | — | — | (0 | ) | ||||||||||||||
| Intercompany Receivables |
648,349 | 648,349 | 648,349 | 648,349 | 648,349 | |||||||||||||||
| Total Other Current Assets |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Current Assets |
$ | 648,349 | $ | 648,349 | $ | 648,349 | $ | 648,349 | $ | 648,349 | ||||||||||
| Property, Plant & Equipment |
$ | 2,862,882 | $ | 2,862,882 | $ | 2,862,882 | $ | 2,862,882 | $ | 2,862,882 | ||||||||||
| Investments |
— | — | — | — | — | |||||||||||||||
| Goodwill |
— | — | — | — | — | |||||||||||||||
| Restricted Cash |
— | — | — | — | — | |||||||||||||||
| Other Assets |
— | — | — | — | — | |||||||||||||||
| Long-Term Intercompany |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Long Term Assets |
$ | 2,862,882 | $ | 2,862,882 | $ | 2,862,882 | $ | 2,862,882 | $ | 2,862,882 | ||||||||||
| Total Assets |
$ | 3,511,231 | $ | 3,511,231 | $ | 3,511,231 | $ | 3,511,231 | $ | 3,511,231 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Accounts Payable |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Total Accrued Expenses |
— | — | — | — | — | |||||||||||||||
| Current Maturities Of Debt |
— | — | — | — | — | |||||||||||||||
| Current Portion - Production Payment |
— | — | — | — | — | |||||||||||||||
| Debtor in Possession |
— | — | — | — | — | |||||||||||||||
| Liabilities Subject to Compromise |
— | — | — | — | — | |||||||||||||||
| Taxes Payable |
— | — | — | — | — | |||||||||||||||
| Intercompany Payable |
14,354,530 | 14,354,530 | 14,354,530 | 14,354,530 | 14,354,530 | |||||||||||||||
| Total Other Current Liabilities |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Current Liabilities |
$ | 14,354,530 | $ | 14,354,530 | $ | 14,354,530 | $ | 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 | $ | 14,354,530 | $ | 14,354,530 | $ | 14,354,530 | ||||||||||
| Redeemable Preferred Stock |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Preferred Stock |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Common Stock |
10 | 10 | 10 | 10 | 10 | |||||||||||||||
| APIC |
15,597,652 | 15,597,652 | 15,597,652 | 15,597,652 | 15,597,652 | |||||||||||||||
| Treasury Stock |
— | — | — | — | — | |||||||||||||||
| Accumulated Earnings (Deficit) |
(26,440,961 | ) | (26,440,961 | ) | (26,440,961 | ) | (26,440,961 | ) | (26,440,961 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Stockholders’ Equity |
$ | (10,843,299 | ) | $ | (10,843,299 | ) | $ | (10,843,299 | ) | $ | (10,843,299 | ) | $ | (10,843,299 | ) | |||||
| Total Liabilities & Stockholders’ Equity |
$ | 3,511,231 | $ | 3,511,231 | $ | 3,511,231 | $ | 3,511,231 | $ | 3,511,231 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Endeavour Colorado Company Balance Sheet
| Petition Date October 11, 2014 |
October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2015 | ||||||||||||||||
| Cash & Cash Equivalents |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Restricted Cash - Current |
— | — | — | — | — | |||||||||||||||
| Accounts Receivables |
860,242 | 982,702 | 815,021 | — | — | |||||||||||||||
| Intercompany Receivables |
— | — | — | — | — | |||||||||||||||
| Total Other Current Assets |
— | — | — | 564,805 | 564,805 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Current Assets |
$ | 860,242 | $ | 982,702 | $ | 815,021 | $ | 564,805 | $ | 564,805 | ||||||||||
| Property, Plant & Equipment |
$ | 10,523,683 | $ | 11,307,054 | $ | 11,447,515 | $ | 12,361,204 | $ | 16,299,990 | ||||||||||
| Investments |
— | — | — | — | — | |||||||||||||||
| Goodwill |
— | — | — | — | — | |||||||||||||||
| Restricted Cash |
— | — | — | — | — | |||||||||||||||
| Other Assets |
— | — | — | — | — | |||||||||||||||
| Long-Term Intercompany |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Long Term Assets |
$ | 10,523,683 | $ | 11,307,054 | $ | 11,447,515 | $ | 12,361,204 | $ | 16,299,990 | ||||||||||
| Total Assets |
$ | 11,383,925 | $ | 12,289,756 | $ | 12,262,535 | $ | 12,926,009 | $ | 16,864,795 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Accounts Payable |
$ | 1,011,349 | $ | 1,011,349 | $ | 934,482 | $ | 853,362 | $ | 929,261 | ||||||||||
| Total Accrued Expenses |
— | 839,206 | — | — | — | |||||||||||||||
| Current Maturities Of Debt |
— | — | — | — | — | |||||||||||||||
| Current Portion - Production Payment |
— | — | — | — | — | |||||||||||||||
| Debtor in Possession |
— | — | — | — | — | |||||||||||||||
| Liabilities Subject to Compromise |
— | — | — | — | — | |||||||||||||||
| Taxes Payable |
— | — | — | — | — | |||||||||||||||
| Intercompany Payable |
10,281,092 | 10,347,742 | 11,215,688 | 11,516,945 | 15,405,109 | |||||||||||||||
| Total Other Current Liabilities |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Current Liabilities |
$ | 11,292,441 | $ | 12,198,298 | $ | 12,150,170 | $ | 12,370,307 | $ | 16,334,371 | ||||||||||
| Long-Term Debt |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Deferred Tax Liability |
— | — | — | — | — | |||||||||||||||
| ARO Liability |
34,898.21 | 35,240.79 | 35,586.74 | 35,936.08 | 36,285.42 | |||||||||||||||
| Long Term - Production Payment |
— | — | — | — | — | |||||||||||||||
| Long Term Intercompany |
— | — | — | — | — | |||||||||||||||
| Other Long Term Liabilities |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Liabilities |
$ | 11,327,340 | $ | 12,233,538 | $ | 12,185,757 | $ | 12,406,243 | $ | 16,370,656 | ||||||||||
| Redeemable Preferred Stock |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Preferred Stock |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Common Stock |
— | — | — | — | — | |||||||||||||||
| APIC |
— | — | — | — | — | |||||||||||||||
| Treasury Stock |
— | — | — | — | — | |||||||||||||||
| Accumulated Earnings (Deficit) |
56,585 | 56,218 | 76,779 | 519,766 | 494,139 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Stockholders’ Equity |
$ | 56,585 | $ | 56,218 | $ | 76,779 | $ | 519,766 | $ | 494,139 | ||||||||||
| Total Liabilities & Stockholders’ Equity |
$ | 11,383,925 | $ | 12,289,756 | $ | 12,262,535 | $ | 12,926,009 | $ | 16,864,795 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Endeavour Operating Corporation Balance Sheet
| Petition Date October 11, 2014 |
October 31, 2014 | November 30, 2014 | December 31, 2014 | January 31, 2015 | ||||||||||||||||
| Cash & Cash Equivalents |
$ | 41,410,539 | $ | 37,316,408 | $ | 35,239,032 | $ | 32,055,245 | $ | 29,002,562 | ||||||||||
| Restricted Cash - Current |
50,176 | 50,176 | 50,176 | 50,176 | 50,176 | |||||||||||||||
| Accounts Receivables |
2,126,960 | 2,101,571 | 2,611,990 | 1,906,440 | 2,337,829 | |||||||||||||||
| Intercompany Receivables |
61,615,971 | 66,690,504 | 72,558,450 | 78,629,584 | (489,503,232 | ) | ||||||||||||||
| Total Other Current Assets |
10,369,454 | 13,345,465 | 13,448,658 | 13,273,931 | 6,726,111 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Current Assets |
$ | 115,573,099 | $ | 119,504,123 | $ | 123,908,305 | $ | 125,915,375 | $ | (451,386,555 | ) | |||||||||
| Property, Plant & Equipment |
$ | 84,304,737 | $ | 84,751,882 | $ | 85,492,092 | $ | 87,579,025 | $ | 90,335,836 | ||||||||||
| Investments |
238,153,544 | 238,153,544 | 238,153,544 | 238,153,544 | 238,153,544 | |||||||||||||||
| Goodwill |
— | — | — | — | — | |||||||||||||||
| Restricted Cash |
— | — | — | — | — | |||||||||||||||
| Other Assets |
12,350 | 10,050 | 10,050 | 10,050 | 10,050 | |||||||||||||||
| Long-Term Intercompany |
500,000,000 | 500,000,000 | 500,000,000 | 500,000,000 | 500,000,000 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Long Term Assets |
$ | 822,470,631 | $ | 822,915,476 | $ | 823,655,686 | $ | 825,742,619 | $ | 828,499,429 | ||||||||||
| Total Assets |
$ | 938,043,730 | $ | 942,419,599 | $ | 947,563,991 | $ | 951,657,994 | $ | 377,112,874 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Accounts Payable |
$ | 575,367 | $ | 1,346,554 | $ | 1,520,837 | $ | 2,956,529 | $ | 5,286,734 | ||||||||||
| Total Accrued Expenses |
1,504,800 | 1,633,618 | 1,762,435 | 1,598,322 | 2,103,729 | |||||||||||||||
| Current Maturities Of Debt |
— | — | — | — | — | |||||||||||||||
| Current Portion - Production Payment |
— | — | — | — | — | |||||||||||||||
| Debtor in Possession |
— | — | 194,814 | 4,651,289 | — | |||||||||||||||
| Liabilities Subject to Compromise |
— | — | — | — | 4,681,981 | |||||||||||||||
| Taxes Payable |
8,824 | 9,053 | 16,651 | (18,501 | ) | 8,401 | ||||||||||||||
| Intercompany Payable |
561,781,032 | 568,388,412 | 572,929,474 | 580,258,274 | 7,219,519 | |||||||||||||||
| Total Other Current Liabilities |
1,100,256 | 1,100,256 | 1,100,256 | 100,256 | 41,415 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Current Liabilities |
$ | 564,970,279 | $ | 572,477,892 | $ | 577,524,467 | $ | 589,546,170 | $ | 19,341,779 | ||||||||||
| Long-Term Debt |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Deferred Tax Liability |
— | — | — | — | — | |||||||||||||||
| ARO Liability |
426,278 | 428,707 | 434,060 | 440,290 | 505,362 | |||||||||||||||
| Long Term - Production Payment |
— | — | — | — | — | |||||||||||||||
| Long Term Intercompany |
554,000,000 | 554,000,000 | 554,000,000 | 554,000,000 | 554,000,000 | |||||||||||||||
| Other Long Term Liabilities |
3,866,507 | 3,902,468 | 3,938,429 | 474,390 | 136,901 | |||||||||||||||
|
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|
|
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|
|||||||||||
| Total Liabilities |
$ | 1,123,263,064 | $ | 1,130,809,067 | $ | 1,135,896,956 | $ | 1,144,460,850 | $ | 573,984,042 | ||||||||||
| Redeemable Preferred Stock |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Preferred Stock |
$ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Common Stock |
1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||||||||||||||
| APIC |
57,660,973 | 57,660,973 | 57,660,973 | 57,660,973 | 57,660,973 | |||||||||||||||
| Treasury Stock |
— | — | — | — | — | |||||||||||||||
| Accumulated Earnings (Deficit) |
(242,881,307 | ) | (246,051,441 | ) | (245,994,938 | ) | (250,464,828 | ) | (254,533,141 | ) | ||||||||||
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| Stockholders’ Equity |
$ | (185,219,334 | ) | $ | (188,389,468 | ) | $ | (188,332,965 | ) | $ | (192,802,856 | ) | $ | (196,871,168 | ) | |||||
| Total Liabilities & Stockholders’ Equity |
$ | 938,043,730 | $ | 942,419,599 | $ | 947,563,991 | $ | 951,657,994 | $ | 377,112,874 | ||||||||||
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| Note: | The balance found in the account titled “Debtor in Possession” was moved to a the more appropriately named “Liabilities Subject to Compromise” account for presentation purposes. |
| In re: Endeavour Operating Corporation, et al. Debtor |
Case No. 14-12308 Reporting Period: 1/1/15 – 1/31/15 |
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 |
($ | 637.85 | ) | $ | 6,410.11 | $ | 6,590.28 | 1/22/2015 | 0210***300 | ($ | 818.02 | ) | ||||||||||||
| Total State and Local |
||||||||||||||||||||||||
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| Total Taxes |
($ | 637.85 | ) | $ | 6,410.11 | $ | 6,590.28 | ($ | 818.02 | ) | ||||||||||||||
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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.
Endeavour Operating Corp
Payables Aging Report
| Days Past Due | ||||||||||||||||||||
| Accounts Payable: Vendor |
Balance at January 31, 2015 |
Current | 0-30 | 31-60 | 61-90 | |||||||||||||||
| Catherine Stubbs |
$ | 3,354.62 | $ | 3,354.62 | $ | — | $ | — | $ | — | ||||||||||
| Tejas Office Products Inc1 |
235.84 | — | 235.84 | — | — | |||||||||||||||
| Time Warner Telecom |
12,786.32 | 12,786.32 | — | — | — | |||||||||||||||
| Platts1 |
10,836.01 | — | 10,836.01 | — | — | |||||||||||||||
| Broadridge ICS, Inc |
12,578.23 | 12,578.23 | — | — | — | |||||||||||||||
| Shred-it |
73.44 | 73.44 | — | — | — | |||||||||||||||
| Pitney Bowes Inc. |
112.75 | 112.75 | — | — | — | |||||||||||||||
| Alonti1 |
1,960.63 | 804.48 | — | 668.96 | 487.19 | |||||||||||||||
| Red Dog Systems Inc |
44.00 | 44.00 | — | — | — | |||||||||||||||
| ProStar Services |
272.34 | 272.34 | — | — | — | |||||||||||||||
| Staples |
385.75 | 385.75 | — | — | — | |||||||||||||||
| eFax Corporate c/o j2 Global Inc. |
149.90 | 149.90 | — | — | — | |||||||||||||||
| The NASDAQ OMX Group, Inc. |
75.59 | 75.59 | — | — | — | |||||||||||||||
| McGriff, Seibels & Williams of Texas, Inc. |
856,476.49 | 856,476.49 | — | — | — | |||||||||||||||
| Thomson Reuters (GRC) Inc. |
528.70 | 528.70 | — | — | — | |||||||||||||||
| Thomson Tax & Accounting Inc. |
15,035.88 | 15,035.88 | — | — | — | |||||||||||||||
| J-W Operating Company |
42,158.14 | 42,158.14 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| QEP ENERGY COMPANY |
1,641.66 | 1,641.66 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| FOSSIL OPERATING INC |
6.38 | 0.00 | 2.15 | 10.04 | (5.81 | ) | ||||||||||||||
| WILL-DRILL OPERATING LLC |
580.10 | 580.10 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| SWEPI, LP |
9,268.53 | 0.00 | 3,411.02 | 2,470.20 | 3,387.31 | |||||||||||||||
| COMSTOCK OIL & GAS, LP |
770.76 | 770.76 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| CAZA OPERATING, LLC1 |
1,739.75 | 0.00 | 0.00 | 1,739.75 | 0.00 | |||||||||||||||
| WEATHERFORD US, LP |
3,095.00 | 3,095.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| B&A PROPERTIES, LLC |
6,350.00 | 6,350.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| UNITSOURCE INCORPORATED |
71.25 | 71.25 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| MOODY CONSTRUCTION & SONS, INC. |
8,077.50 | 8,077.50 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| SEABOARD |
6,215.11 | 6,215.11 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| HB RENTALS, LC1 |
62,602.90 | 23,569.00 | 39,033.90 | 0.00 | 0.00 | |||||||||||||||
| GPI WESTERN DIVERTER CO., INC |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| MASTER PETROLEUM |
647.64 | 647.64 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| NEW TECH GLOBAL VENTURES, LLC |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| DSCHAAKS CONSULTING & TRUCKING, LLC2 |
62,000.75 | 4,680.00 | 0.00 | 57,320.75 | 0.00 | |||||||||||||||
| SOUND & CELLULAR, INC. |
435.00 | 435.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| PREHEAT INC |
(345.60 | ) | (345.60 | ) | 0.00 | 0.00 | 0.00 | |||||||||||||
| DALBO, INC |
4,740.00 | 4,740.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| R & T Oilfield Services, Inc.1 |
18,145.00 | 8,345.00 | 9,800.00 | 0.00 | 0.00 | |||||||||||||||
| BOLTON CONSTRUCTION, LLC |
115,235.32 | 115,235.32 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| United Supply of The Rockies Inc |
72,327.51 | 72,327.51 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| Connell Resources, Inc |
831.94 | 831.94 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| LDNK LLC HCP |
835.00 | 835.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| Rogue Pressure Services Ltd. |
16,869.00 | 16,869.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| Stewart Welding & Machine Inc |
960.00 | 960.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| Urie Trucking, Inc. |
2,470.00 | 2,470.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| Wyoming Analytical Laboratories Inc |
150.00 | 150.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| W.C. Striegel, Inc |
32,592.49 | 32,592.49 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| Urie Rock Company |
1,725.46 | 1,725.46 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| Thru Tubing Solutions |
1,264.05 | 1,264.05 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| Days Past Due | ||||||||||||||||||||
| Accounts Payable (continued) : Vendor |
Balance at January 31, 2015 |
Current | 0-30 | 31-60 | 61-90 | |||||||||||||||
| KLX Energy Holdings LLC |
10,495.58 | 10,495.58 | 0.00 | 0.00 | 0.00 | |||||||||||||||
| Adler Hot Oil Service, LLC |
20,034.10 | 6,211.60 | 13,822.50 | 0.00 | 0.00 | |||||||||||||||
| Twin Guns Enterprise, LLC |
1,345.00 | 1,345.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||
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|
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|
|
|
|||||||||||
| Total Accounts Payable |
$ | 1,420,241.81 | $ | 1,277,022.00 | $ | 77,141.42 | $ | 62,209.70 | $ | 3,868.69 | ||||||||||
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|
|||||||||||
| Days Past Due | ||||||||||||||||||||
| Professional Fees Payable: Vendor |
Balance at January 31, 2015 |
Current | 0-30 | 31-60 | 61-90 | |||||||||||||||
| ARENT FOX LLP |
$ | 89,110.03 | $ | — | $ | 89,110.03 | $ | — | $ | — | ||||||||||
| Wilmington Trust, National Association |
9,768.61 | — | 9,768.61 | — | — | |||||||||||||||
| Porter Hedges LLP |
46,453.39 | 46,453.39 | — | — | — | |||||||||||||||
| Vinson & Elkins L.L.P. |
51,180.00 | 51,180.00 | — | — | — | |||||||||||||||
| Burleson LLP2 |
72,808.58 | 39,552.33 | 33,256.25 | — | — | |||||||||||||||
| Ernst & Young (USD) |
429,825.83 | 429,825.83 | — | — | — | |||||||||||||||
| FTI Consulting |
74,752.26 | 74,752.26 | — | — | — | |||||||||||||||
| GrantThornton (US)2 |
52,662.00 | — | 52,662.00 | — | — | |||||||||||||||
| Blackhill Partners, LLC2 |
66,652.41 | — | 66,652.41 | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Professional Fees Payable |
$ | 893,213.11 | $ | 656,799.69 | $ | 641,763.81 | $ | — | $ | — | ||||||||||
|
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|
|
|
|
|
|
|
|
|
|||||||||||
| Days Past Due | ||||||||||||||||||||
| Taxes Payable: Vendor |
Balance at January 31, 2015 |
Current | 0-30 | 31-60 | 61-90 | |||||||||||||||
| City and County of Denver |
$ | 1,121.64 | $ | 1,121.64 | $ | — | $ | — | $ | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total Taxes Payable |
$ | 1,121.64 | $ | 1,121.64 | $ | — | $ | — | $ | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Grand Total |
$ | 2,314,576.56 | $ | 1,919,907.45 | $ | 328,590.72 | $ | 62,209.70 | $ | 3,868.69 | ||||||||||
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| 1 | The invoices related to these outstanding payables balances were dated as due either on or prior to the date they were received by Endeavour thus the “past due” designation. The invoices will be paid in the ordinary course of business. |
| 2 | The “past due” balances outstanding with these respective professionals are due to invoice totals greater than the $50,000 monthly threshold allotted to ordinary course professional payments per month. The outstanding balances will continue to be paid based on these guidelines. |
| In re: Endeavour Operating Corporation, et al | Case No. 14-12308 | |
| Debtor | Reporting Period: 1/1/2015 – 1/31/2015 |
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
| Accounts Receivable Reconciliation | Amount | |||||||
| Total Accounts Receivable at the beginning of the reporting period |
$ | 1,906,439.61 | ||||||
| + Amounts billed during the period |
$ | 920,931.96 | ||||||
| - Amounts collected during the period |
$ | 489,543.00 | ||||||
| Total Accounts Receivable at the end of the reporting period |
$ | 2,337,828.57 | ||||||
| Accounts Receivable Aging |
||||||||
| 0 - 30 days old |
$ | 1,653,623.80 | ||||||
| 31 - 60 days old |
$ | 151,826.20 | ||||||
| 61 - 90 days old |
$ | 1,609.00 | ||||||
| 91+ days old |
$ | 530,769.57 | ||||||
| Total Accounts Receivable |
$ | 2,337,828.57 | ||||||
| Amount considered uncollectible (Bad Debt) |
$ | 0 | ||||||
| Accounts Receivable (Net) |
$ | 2,337,828.57 | ||||||
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 | ||||