|
|
|
|
2002 THIRD QUARTER REPORT
Consolidated Statements of Cash Flows
(Unaudited)
(in Thousands)
|
Period
Ended
|
|
September
30,
|
|
|
|
|
|
|
2002 |
2001 |
| Cash Flows from Operating Activities: |
|
|
| Net income |
$ 8,551 |
$ 44,720 |
| Non-cash revenue and expense
items |
39,740 |
66,990 |
| Net change in operating assets
and liabilities |
7,403 |
10,102 |
|
------------- |
------------- |
| Net
Cash Provided by Operating Activities |
55,694 |
121,812 |
|
------------- |
------------- |
| Cash Flows from Investing Activities: |
| Additions to property and
equipment |
(132,521) |
(217,960) |
| Proceeds from the sale of property
and equipment |
11,526 |
2,940 |
| Net cash
distributed
as operator of oil and gas properties |
(4,247) |
(24,116) |
| Net cash received (distributed) as
operator of partnerships and joint ventures |
(26,528) |
341 |
| Other |
68 |
(80) |
|
------------- |
------------- |
| Net
Cash Used in Investing Activities |
(151,702) |
(238,875) |
|
------------- |
------------- |
| Cash Flows from Financing Activities: |
| Proceeds from
long-term debt |
200,000 |
--- |
| Net proceeds from
(payments of) bank borrowings |
(129,500) |
115,700 |
| Net proceeds from issuance of
common stock |
31,330 |
1,463 |
| Payments of debt
issuance costs |
(6,257) |
--- |
|
------------- |
------------- |
| Net
Cash Provided by Financing Activities |
95,573 |
117,163 |
|
------------- |
------------- |
| Net Increase in Cash and Cash Equivalents |
$ (435) |
$
100 |
| Cash and Cash Equivalents at Beginning of Period |
2,149 |
1,987 |
|
------------- |
------------- |
| Cash and Cash Equivalents at End of Period |
$ 1,714 |
$ 2,087 |
|
======== |
======== |
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