|
|
|
|
2004 THIRD QUARTER REPORT
Consolidated Statements of Cash Flows
(Unaudited)
(in Thousands)
|
Period
Ended
|
|
September
30,
|
|
|
|
|
|
|
2004 |
2003 |
| Cash Flows from Operating Activities: |
|
|
| Net income |
$ 41,616 |
$ 20,392 |
| Non-cash revenue and expense
items |
86,036 |
65,666 |
| Net change in operating assets
and liabilities |
(1,233) |
(2,036) |
|
------------- |
------------- |
| Net
Cash Provided by Operating Activities |
126,419 |
84,022 |
|
------------- |
------------- |
| Cash Flows from Investing Activities: |
| Additions to property and
equipment |
(128,500) |
(101,511) |
| Proceeds from the sale of property
and equipment |
1,412 |
3,840 |
| Net cash
distributed
as operator of oil and gas properties |
(3,910) |
(989) |
| Net cash received as
operator of partnerships and joint ventures |
81 |
472 |
| Other |
(101) |
(90) |
|
------------- |
------------- |
| Net
Cash Used in Investing Activities |
(131,018) |
(98,278) |
|
------------- |
------------- |
| Cash Flows from Financing Activities: |
| Proceeds from
long-term debt |
150,000 |
--- |
| Payments of
long-term debt |
(125,000) |
--- |
| Net proceeds from
(payments of) bank borrowings |
(9,700) |
11,900 |
| Net proceeds from issuance of
common stock |
3,560 |
1,218 |
| Payments of debt
retirement costs |
(6,712) |
--- |
| Payments of debt
issuance costs |
(4,334) |
--- |
|
------------- |
------------- |
| Net
Cash Provided by Financing Activities |
7,814 |
13,118 |
|
------------- |
------------- |
| Net Increase (Decrease) in Cash and Cash Equivalents |
$ 3,215 |
$ (1,138) |
| Cash and Cash Equivalents at Beginning of Period |
1,066 |
3,816 |
|
------------- |
------------- |
| Cash and Cash Equivalents at End of Period |
$ 4,281 |
$ 2,678 |
|
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|
