|
|
|
|
2000 SECOND QUARTER REPORT
Consolidated Statements of Cash Flows
(Unaudited)
(In Thousands)
|
Period Ended
|
|
June 30,
|
|
|
|
2000 |
1999 |
| Cash Flows from Operating Activities: |
|
|
| Net income |
$ 23,803 |
$ 4,434 |
| Non-cash revenue and expense
items |
36,025 |
23,084 |
| Net change in operating assets
and liabilities |
(4,479) |
785 |
|
------------- |
------------- |
| Net
Cash Provided by Operating Activities |
55,349 |
28,303 |
|
------------- |
------------- |
| Cash Flows from Investing Activities: |
| Additions to property and
equipment |
(51,151) |
(23,190) |
| Proceeds from the sale of property
and equipment |
759 |
1,746 |
| Net cash received (distributed)
as operator of oil and gas properties |
4,887 |
(1,355) |
| Net cash received as
operator of partnerships and joint ventures |
1,353 |
3,244 |
| Limited partnership formation
and marketing costs |
--- |
(649) |
| Other |
(26) |
(183) |
|
------------- |
------------- |
| Net
Cash Used in Investing Activities |
(44,178) |
(20,387) |
|
------------- |
------------- |
| Cash Flows from Financing Activities: |
| Net payments of bank borrowings |
--- |
(6,200) |
| Net proceeds from issuance of
common stock |
2,355 |
477 |
| Purchase of treasury stock |
--- |
(1,463) |
|
------------- |
------------- |
| Net
Cash Provided by (Used in) Financing Activities |
2,355 |
(7,186) |
|
------------- |
------------- |
| Net Increase in Cash and Cash Equivalents |
$ 13,526 |
$ 730 |
| Cash and Cash Equivalents at Beginning of Period |
22,686 |
1,631 |
|
------------- |
------------- |
| Cash and Cash Equivalents at End of Period |
$ 36,212 |
$ 2,361 |
|
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