|
|
|
|
2001 SECOND QUARTER REPORT
Consolidated Statements of Cash Flows
(Unaudited)
(in Thousands)
|
Period Ended |
|
June 30, |
|
|
|
2001 |
2000 |
| Cash Flows from Operating Activities: |
|
|
| Net income |
$ 37,300 |
$ 23,803 |
| Non-cash revenue and expense
items |
48,736 |
36,025 |
| Net change in operating assets
and liabilities |
9,993 |
(4,479) |
|
------------- |
------------- |
| Net
Cash Provided by Operating Activities |
96,029 |
55,349 |
|
------------- |
------------- |
| Cash Flows from Investing Activities: |
| Additions to property and
equipment |
(161,624) |
(51,151) |
| Proceeds from the sale of property
and equipment |
2,940 |
759 |
| Net cash received (distributed)
as operator of oil and gas properties |
(16,671) |
4,887 |
| Net cash received as
operator of partnerships and joint ventures |
2,087 |
1,353 |
| Other |
(72) |
(26) |
|
------------- |
------------- |
| Net
Cash Used in Investing Activities |
(173,340) |
(44,178) |
|
------------- |
------------- |
| Cash Flows from Financing Activities: |
| Net proceeds from
bank borrowings |
76,100 |
--- |
| Net proceeds from issuance of
common stock |
1,321 |
2,355 |
|
------------- |
------------- |
| Net
Cash Provided by Financing Activities |
77,421 |
2,355 |
|
------------- |
------------- |
| Net Increase in Cash and Cash Equivalents |
$
110 |
$ 13,526 |
| Cash and Cash Equivalents at Beginning of Period |
1,987 |
22,686 |
|
------------- |
------------- |
| Cash and Cash Equivalents at End of Period |
$ 2,097 |
$ 36,212 |
|
========= |
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