|
|
|
|
1996 THIRD QUARTER REPORT
Consolidated Statements of Cash Flows
(Unaudited)
(In Thousands)
|
Nine Months |
|
Ended September 30, |
|
------------------------------------- |
|
1996 |
1995 |
|
--------------- |
--------------- |
| Cash Flows from Operating Activities: |
| Net income |
$ 11,403 |
$ 2,520 |
| Non-cash revenue and expense
items |
15,294 |
5,528 |
| Net change in operating assets
and liabilities |
(346) |
499 |
|
------------- |
------------- |
| Net
Cash Provided by Operating Activities |
26,351 |
8,547 |
|
------------- |
------------- |
| Cash Flows from Investing Activities: |
| Additions to property and
equipment |
(55,996) |
(21,076) |
| Proceeds from the sale of
property and equipment |
1,150 |
-- |
| Net cash received (distributed)
as operator of oil and gas properties |
(6,056) |
(628) |
|
Property acquisition costs
(incurred on behalf of) reimbursed by
- partnerships and joint ventures
|
10,824 |
5,707 |
| Limited partnership formation
and marketing costs |
-- |
(354) |
| Prepaid drilling costs |
(337) |
(102) |
| Other |
(76) |
6 |
|
------------- |
------------- |
| Net
Cash Used in Investing Activities |
(50,491) |
(16,447) |
|
------------- |
------------- |
| Cash Flows from Financing Activities: |
| Net proceeds from bank
borrowings |
17,170 |
(27,229) |
| Net proceeds from issuance of
common stock |
1,950 |
46,312 |
| Loan to ESOP Plan |
(569) |
-- |
|
------------- |
------------- |
| Net
Cash Provided by Financing Activities |
18,551 |
19,083 |
|
------------- |
------------- |
| Net Increase (Decrease) in Cash and Cash Equivalents |
$ (5,589) |
$ 11,183 |
| Cash and Cash Equivalents at Beginning of Period |
7,575 |
985 |
|
------------- |
------------- |
| Cash and Cash Equivalents at End of Period |
$ 1,986 |
$ 12,168 |
|
------------- |
------------- |
| Supplemental disclosures of cash flow information: |
| Cash paid during period for interest, net of amounts
capitalized |
$ 1,169 |
$ 732 |
| Cash paid during period for income taxes |
$ 85 |
$ 164 |
This page was last updated on Saturday, February 08, 2003, at 07:45:45 PM.
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