|
|
|
|
2001 FIRST QUARTER REPORT
Consolidated Statements of Cash Flows
(Unaudited)
(in Thousands)
|
Three Months
|
|
Ended March 31,
|
|
|
|
|
|
|
2001 |
2000 |
| Cash Flows from Operating Activities: |
|
|
| Net income |
$ 22,327 |
$ 9,590 |
| Non-cash revenue and expense
items |
25,710 |
16,654 |
| Net change in operating assets
and liabilities |
178 |
(2,736) |
|
------------- |
------------- |
| Net
Cash Provided by Operating Activities |
48,215 |
23,508 |
|
------------- |
------------- |
| Cash Flows from Investing Activities: |
| Additions to property and
equipment |
(100,015) |
(24,371) |
| Proceeds from the sale of property
and equipment |
--- |
1 |
| Net cash received (distributed)
as operator of oil and gas properties |
(2,574) |
3,001 |
| Net cash received (distributed) as
operator of partnerships and joint ventures |
279 |
(775) |
| Other |
(59) |
(7) |
|
------------- |
------------- |
| Net
Cash Used in Investing Activities |
(102,369) |
(22,151) |
|
------------- |
------------- |
| Cash Flows from Financing Activities: |
| Net proceeds from
bank borrowings |
54,600 |
--- |
| Net proceeds from issuance of
common stock |
702 |
586 |
|
------------- |
------------- |
| Net
Cash Provided by Financing Activities |
55,302 |
586 |
|
------------- |
------------- |
| Net Increase in Cash and Cash Equivalents |
$ 1,148 |
$ 1,943 |
| Cash and Cash Equivalents at Beginning of Period |
1,987 |
22,686 |
|
------------- |
------------- |
| Cash and Cash Equivalents at End of Period |
$ 3,135 |
$ 24,629 |
|
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