SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 5, 2002
SPINNAKER EXPLORATION COMPANY
(Exact name of registrant as specified in its charter)
Delaware 001-16009 76-0560101
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
1200 Smith Street, Suite 800
Houston, Texas 77002
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (713) 759-1770
Item 4. Changes in Registrant's Certifying Accountant.
The Audit Committee of the Board of Directors of Spinnaker Exploration Company
("Spinnaker") annually considers and recommends to the Board of Directors of
Spinnaker the selection of Spinnaker's independent public accountants. On April
5, 2002, the Audit Committee, under the authority granted to it by the Board of
Directors, decided to dismiss Arthur Andersen LLP ("Andersen") as Spinnaker's
independent public accountants and engaged KPMG LLP to serve as Spinnaker's
independent public accountants for 2002. The decision to change independent
public accountants is not a reflection of Andersen's capabilities, commitment or
quality of service to Spinnaker. During its 5-year relationship with Spinnaker
as independent public accountants, the Andersen team exhibited the highest
degree of professionalism and quality service. The appointment of KPMG LLP is
subject to ratification by Spinnaker's stockholders at the 2002 annual meeting
scheduled for May 7, 2002.
Andersen's reports on Spinnaker's consolidated financial statements for either
of the past two fiscal years did not contain an adverse opinion or disclaimer of
opinion and were not qualified or modified as to uncertainty, audit scope or
accounting principles.
During Spinnaker's two most recent fiscal years and the period from January 1,
2002 through April 5, 2002, there were no disagreements with Andersen on any
matter of accounting principles or practices, financial statement disclosure or
auditing scope or procedure, which disagreements, if not resolved to the
satisfaction of Andersen, would have caused Andersen to make reference to the
subject matter of the disagreements in connection with Andersen's report; and
during such period there were no "reportable events" of the kind listed in Item
304(a)(1)(v) of Regulation S-K.
Spinnaker provided Andersen with a copy of the foregoing disclosure and
requested Andersen to furnish Spinnaker with a letter addressed to the
Securities and Exchange Commission stating whether it agrees with the statements
by Spinnaker in the foregoing disclosure and, if not, stating the respects in
which it does not agree. Andersen's letter is filed as Exhibit 16.1 to this
Current Report on Form 8-K.
During Spinnaker's two most recent fiscal years and through the date of this
Current Report on Form 8-K, Spinnaker did not consult KPMG LLP with respect to
the application of accounting principles to a specified transaction, either
completed or proposed, or the type of audit opinion that might be rendered on
Spinnaker's consolidated financial statements, or any other matters or
reportable events listed in Items 304(a)(2)(i) and (ii) of Regulation S-K.
Item 7. Exhibits.
16.1 - Letter dated April 8, 2002, from Arthur Andersen LLP to the Securities
and Exchange Commission
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SPINNAKER EXPLORATION COMPANY
Date: April 10, 2002 By: /s/ ROBERT M. SNELL
-----------------------------------------
Robert M. Snell
Vice President, Chief Financial Officer
and Secretary
EXHIBIT INDEX
16.1 - Letter dated April 8, 2002, from Arthur Andersen LLP to the Securities
and Exchange Commission.