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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 11/25/19 Biglari Holdings Inc. 8-K/A:9 9/09/19 4:280K Olshan Frome Wolosky LLP |
Document/Exhibit Description Pages Size 1: 8-K/A Amendment to Current Report HTML 16K 2: 8-K/A Exhibit 99.1 -- ex991to8ka07428007_11252019 PDF 137K 3: EX-99.2 Miscellaneous Exhibit HTML 16K 4: EX-99.3 Miscellaneous Exhibit HTML 28K
Exhibit 99.2
| SOUTHERN OIL | ||||
| BALANCE SHEET | ||||
| (in thousands) | ||||
| June 30, 2019 | ||||
| (Unaudited) | ||||
| Assets | ||||
| Current assets: | ||||
| Cash and cash equivalents | $ | 29,185 | ||
| Receivables | 7,536 | |||
| Prepaid assets | 1,257 | |||
| Other current assets | 636 | |||
| Total current assets | 38,614 | |||
| Oil and gas properties, net | 71,861 | |||
| Other property and equipment, net | 189 | |||
| Other assets | 50 | |||
| Total assets | $ | 110,714 | ||
| Liabilities and members’ equity | ||||
| Liabilities | ||||
| Current liabilities: | ||||
| Accounts payable and accrued expenses | $ | 7,344 | ||
| Asset retirement obligation - current portion | 1,420 | |||
| Total current liabilities | 8,764 | |||
| Asset retirement obligation - long-term portion | 9,840 | |||
| Deferred taxes | 5,867 | |||
| Other liabilities | 81 | |||
| Total liabilities | 24,552 | |||
| Members’ equity | 86,162 | |||
| Total liabilities and members’ equity | $ | 110,714 | ||
C:
| SOUTHERN OIL | ||||
| STATEMENT OF EARNINGS AND MEMBERS’ EQUITY | ||||
| (in thousands) | ||||
| First Six Months 2019 | ||||
| (Unaudited) | ||||
| Revenues | ||||
| Oil and gas | $ | 39,927 | ||
| Cost and expenses | ||||
| Oil and gas production costs | 9,822 | |||
| Selling, general and administrative | 3,051 | |||
| Depreciation, depletion and amortization | 9,804 | |||
| 22,677 | ||||
| Other income (expenses) | ||||
| Interest expense | (9 | ) | ||
| Earnings before income taxes | 17,241 | |||
| Income tax expense | 4,215 | |||
| Net earnings | $ | 13,026 | ||
| Members’ equity - beginning | 73,136 | |||
| Contributions | - | |||
| Members’ equity - ending | $ | 86,162 | ||
C:
| SOUTHERN OIL | ||||
| STATEMENT OF CASH FLOWS | ||||
| (in thousands) | ||||
| First Six Months | ||||
| 2019 | ||||
| (Unaudited) | ||||
| Operating activities | ||||
| Net earnings | $ | 13,026 | ||
| Adjustments to reconcile net earnings to operating cash flows: | ||||
| Depreciation, depletion and amortization | 9,804 | |||
| Provision for deferred income taxes | 1,002 | |||
| Mark to market of hedge position | 1,003 | |||
| Non-cash expenses | 238 | |||
| Changes in receivables and inventories | (734 | ) | ||
| Changes in other assets | (824 | ) | ||
| Changes in accounts payable and accrued expenses | 211 | |||
| Net cash provided by operating activities | 23,726 | |||
| Investing activities | ||||
| Capital expenditures | (5,084 | ) | ||
| Net cash (used in) investing activities | (5,084 | ) | ||
| Decrease in cash, cash equivalents and restricted cash | 18,642 | |||
| Cash, cash equivalents and restricted cash at beginning of year | 10,593 | |||
| Cash, cash equivalents and restricted cash at end of second quarter | $ | 29,235 | ||
| This ‘8-K/A’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 11/25/19 | |||
| For Period end: | 9/9/19 | 8-K | ||
| 6/30/19 | 10-Q | |||
| List all Filings | ||||