|
|
|
|
2000 FIRST QUARTER REPORT
Consolidated Statements of Cash Flows
(Unaudited)
(In Thousands)
|
Three Months
|
|
Ended March 31,
|
|
|
|
2000 |
1999 |
| Cash Flows from Operating Activities: |
|
|
| Net income |
$ 9,590 |
$ 1,282 |
| Non-cash revenue and expense
items |
16,654 |
11,194 |
| Net change in operating assets
and liabilities |
(2,736) |
2,361 |
|
------------- |
------------- |
| Net
Cash Provided by Operating Activities |
23,508 |
14,837 |
|
------------- |
------------- |
| Cash Flows from Investing Activities: |
| Additions to property and
equipment |
(24,371) |
(13,194) |
| Proceeds from the sale of property
and equipment |
1 |
430 |
| Net cash received
as operator of oil and gas properties |
3,001 |
2,611 |
| Net cash received (distributed) as
operator of partnerships and joint ventures |
(775) |
1,647 |
| Limited partnership formation
and marketing costs |
--- |
(397) |
| Other |
(7) |
(96) |
|
------------- |
------------- |
| Net
Cash Used in Investing Activities |
(22,151) |
(8,999) |
|
------------- |
------------- |
| Cash Flows from Financing Activities: |
| Net payments of bank borrowings |
--- |
(4,400) |
| Net proceeds from issuance of
common stock |
586 |
115 |
| Purchase of treasury stock |
--- |
(1,463) |
|
------------- |
------------- |
| Net
Cash Provided by (Used in) Financing Activities |
586 |
(5,748) |
|
------------- |
------------- |
| Net Increase in Cash and Cash Equivalents |
$ 1,943 |
$ 90 |
| Cash and Cash Equivalents at Beginning of Period |
22,686 |
1,631 |
|
------------- |
------------- |
| Cash and Cash Equivalents at End of Period |
$ 24,629 |
$ 1,721 |
|
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