Chesapeake Energy 1997 Annual Report Download - page 61

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
($ in thousands)
44
For the Year Ended June 30, 1997:
Guarantor
Subsidiaries Non-Guarantor
Subsidiaries Company
(Parent) Eliminations Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES $ 165,850 $(ll,008) $ (70,753) $$84,089
CASH FLOWS FROM INVESTING ACTIVITIES
Oil and gas properties (468,519) 57 (468,462)
Proceeds from sale of assets 9,523 --9,523
Investment in service operations (3,048) (3,048)
Long-term loans to third parties (2,000) (18,000) (20,000)
Other investments -(8,000) (8,000)
Other additions (24,318) (1,999) (7,550) (33,867)
(488,362) (1,942) (33,550) (523,854)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings 50,000 292,626 -342,626
Payments on borrowings (118,901) (680) -(119,581)
Exercise of stock options 1,387 1,387
Issuance of common stock 288,091 288,091
Other financing (379) (379)
Intercompany advances, net 380,735 14,645 (395,380)
311,834 14,645 185,665 512,144
Net increase (decrease) in cash and cash equivalents (10,678) 1,695 81,362 -72,379
Cash, beginning of period 4,144 2,668 44,826 51,638
Cash, end of period $(6,534) $4,363 $ 126,188 $$ 124,017
For the Year Ended June 30, 1996:
CASH FLOWS FROM OPERATING ACTIVITIES $ 126,868 $4,204 $ (10,100) $$ 120,972
CASH FLOWS FROM INVESTING ACTIVITIES
Oil and gas properties (341,246) (6,099) 5,300 (342,045)
Proceeds from sales 12,165 (5,300) 6,865
Investment in gas marketing company 266 (629) (363)
Other additions (4,683) (109) (4,054) (8,846)
(333,764) (5,942) (4,683) (344,389)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings 40,350 10,300 116,017 166,667
Payments on borrowings (45,397) (3,200) (37) (48,634)
Exercise of stock options -1,989 1,989
Issuance of common stock --99,498 99,498
Intercompany advances, net 162,777 (2,616) (160,161)
157,730 4,484 57,306 219,520
Net increase (decrease) in cash and cash equivalents (49,166) 2,746 42,523 (3,897)
Cash, beginning of period 53,227 52,303 55,535
Cash, end of period $4,061 $2,751 $44,826 $ $ 51,638
For the Year Ended June 30, 1995:
CASH FLOWS FROM OPERATING ACTIVITIES $60,049 $305 $(4,692) $(931) $54,731
CASH FLOWS FROM INVESTING ACTIVITIES:
Oil and gas properties (113,722) (4,109) (117,831)
Proceeds from sales 24,557 (11,500) 13,057
Purchase of oil and gas properties (11,500) -11,500 -
Other additions (7,929) (7,929)
(97,094) (15,609) (112,703)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings 30,034 11,500 87,300 128,834
Payments on borrowings (32,032) (700) 362 -(32,370)
Intercompany advances, net 78,324 4,509 (83,764) 931
Other financing 818 818
76,326 15,309 4,716 931 97,282
Net increase (decrease) in cash and cash equivalents 39,281 524 39,310
Cash, beginning of period 13,946 -2,279 16,225
Cash, end of period $53.227 $5$2,303 $$55,535