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CHK » Topics » 8. Leases

This excerpt taken from the CHK 8-K filed Nov 1, 2005.

8. Leases

 

The Company leases office space, compressors, computers, and other equipment under various operating lease agreements. Payments made in connection with operating leases are charged to lease operating expense as incurred. Rental expense for operating leases was $8,867,668 and $2,953,148 for the periods ended December 31, 2004 and 2003, respectively. Future minimum lease payments required under the noncancelable operating leases that have initial or remaining terms in excess of one year are as follows:

 

2005

    $ 4,081,586

2006

      3,676,197

2007

      3,352,297

2008

      2,655,970

2009

      2,134,350

Thereafter

      309,000
    

Total minimum lease payments

    $ 16,209,400
    

 

In aggregate, the future minimum rentals to be received under noncancelable subleases as of December 31, 2004, are $123,000.

 

22

Columbia Energy Resources, LLC (a wholly owned

subsidiary of Triana Energy Holdings, LLC)

 

Notes to Consolidated Financial Statements (continued)

 

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