|
|
|
|
2004 SECOND QUARTER REPORT
Consolidated Statements of Cash Flows
(Unaudited)
(in Thousands)
|
Period
Ended
|
|
June
30,
|
|
|
|
|
|
|
2004 |
2003 |
| Cash Flows from Operating Activities: |
|
|
| Net income |
$ 27,486 |
13,329 |
| Non-cash revenue and expense
items |
51,594 |
45,055 |
| Net change in operating assets
and liabilities |
(3,783) |
(4,862) |
|
------------- |
------------- |
| Net
Cash Provided by Operating Activities |
75,297 |
53,522 |
|
------------- |
------------- |
| Cash Flows from Investing Activities: |
| Additions to property and
equipment |
(85,926) |
(62,261) |
| Proceeds from the sale of property
and equipment |
1,275 |
755 |
| Net cash
distributed
as operator of oil and gas properties |
(5,781) |
(1,956) |
| Net cash received (distributed) as
operator of partnerships and joint ventures |
224 |
(255) |
| Other |
(18) |
(86) |
|
------------- |
------------- |
| Net
Cash Used in Investing Activities |
(90,226) |
(63,803) |
|
------------- |
------------- |
| Cash Flows from Financing Activities: |
| Proceeds from
long-term debt |
150,000 |
--- |
| Payments of
long-term debt |
(32,076) |
--- |
| Net proceeds from
(payments of) bank borrowings |
(15,900) |
7,500 |
| Net proceeds from issuance of
common stock |
2,923 |
1,091 |
| Payments of debt
issuance costs |
(4,205) |
--- |
|
------------- |
------------- |
| Net
Cash Provided by Financing Activities |
100,742 |
8,591 |
|
------------- |
------------- |
| Net Increase (Decrease) in Cash and Cash Equivalents |
$ 85,813 |
$ (1,690) |
| Cash and Cash Equivalents at Beginning of Period |
1,066 |
3,816 |
|
------------- |
------------- |
| Cash and Cash Equivalents at End of Period |
$ 86,879 |
$ 2,126 |
|
========= |
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12:08:48 PM.
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