|
|
|
|
1999 THIRD QUARTER REPORT
Consolidated Statements of Cash Flows
(Unaudited)
(In Thousands)
|
Nine Months
|
|
Ended September 30,
|
|
|
|
1999 |
1998 |
| Cash Flows from Operating Activities: |
|
|
| Net income
(loss) |
$ 11,542 |
$ (51,305) |
| Non-cash revenue and expense
items |
37,033 |
90,522 |
| Net change in operating assets
and liabilities |
(11) |
(1,143) |
|
------------- |
------------- |
| Net
Cash Provided by Operating Activities |
48,564 |
38,074 |
|
------------- |
------------- |
| Cash Flows from Investing Activities: |
| Additions to property and
equipment |
(34,907) |
(170,942) |
| Proceeds from the sale of property
and equipment |
3,914 |
1,294 |
| Net cash received (distributed)
as operator of oil and gas properties |
4,177 |
(11,211) |
| Net cash received (distributed) as
operator of partnerships and joint ventures |
4,262 |
1,706 |
| Limited partnership formation
and marketing costs |
(856) |
(408) |
| Other |
(327) |
(95) |
|
------------- |
------------- |
| Net
Cash Used in Investing Activities |
(23,737) |
(179,656) |
|
------------- |
------------- |
| Cash Flows from Financing Activities: |
| Proceeds from
senior subordinated notes |
124,054 |
--- |
| Net proceeds from (payments of)
bank borrowings |
(146,200) |
143,585 |
| Net proceeds from issuances of
common stock |
42,794 |
1,193 |
| Purchase of treasury stock |
(1,463) |
(3,050) |
| Payments
of debt issuance costs |
(3,501) |
(541) |
|
------------- |
------------- |
| Net
Cash Provided by Financing Activities |
15,684 |
141,187 |
|
------------- |
------------- |
| Net Increase (Decrease) in Cash and Cash Equivalents |
$ 40,511 |
$ (395) |
| Cash and Cash Equivalents at Beginning of Period |
1,631 |
2,047 |
|
------------- |
------------- |
| Cash and Cash Equivalents at End of Period |
$ 42,142 |
$ 1,652 |
|
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