Chesapeake Energy 1998 Annual Report Download - page 75

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CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
($ in thousands)
55
For the Year Ended December 31, 1998:
CASH FLOWS FROM OPERATING ACTIVITIES
CASH FLOWS FROM INVESTING ACTIVITIES:
Oil and gas properties
Guarantor
Subsidiaries Non-Guarantor
Subsidiaries Comanv Eliminations Consolidated
$66,960 $ (13,137) $40,816 $$94,639
(539,930) (539,930)
Proceeds from sale of assets 16,008 3,600 19,608
Investment in preferred stock of Gothic Energy
Corporation (39,500) (39,500)
Repayment of long-term loan 2,000 2,000
Proceeds from sale of PanEast Petroleum Corporation 21,245 21,245
Other additions (2,510) 8,408 (17,371) (11,473)
(563,932) 8,408 7,474 (548,050)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term borrowings 658,750 658,750
Payments on long-term borrowings (474,166) (474,166)
Cash received from issuance of preferred stock 222,663 222,663
Cash paid for purchase of treasury stock (29,962) (29,962)
Dividends paid on common stock and preferred stock (13,642) (13,642)
Exercise of stock options 154 154
Intercompany advances, net 476,663 6,035 (482,698)
Effect of exchange rate changes on cash (4,726) (4,726)
471,937 6,035 (118,901) 359,071
Net increase (decrease) in cash and cash
equivalents (25,035) 1,306 (70,611) (94,340)
Cash, beginning of period (284) 13,694 110,450 123,860
Cash, end of period $(25,319) $15,000 $39,839 $$29,520
For the Six Months Ended December 31, 1997:
CASH FLOWS FROM OPERATING ACTIVITIES $28,598 $ (10,842) S121,401 $$139,157
CASH FLOWS FROM INVESTING ACTIVITIES:
Oil and gas properties (189,772) 17 (189,755)
Proceeds from sale of assets 2,520 -2,520
Investment in service operations (200) (200)
Other investments (26,472) -99,380 72,908
Other additions (22,864) 1,340 (453) (21,977)
(236,788) 1,357 98,927 (136,504)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid on common stock (2,810) (2,810)
Exercise of stock options 322 322
Other financing -(322)
Intercompany advances, net 214,135 19,443 (233,578) (322)
214,135 19,121 (236,066) (2,810)
Net increase (decrease) in cash and cash
equivalents 5,945 9,636 (15,738) (157)
Cash, beginning of period (6,534) 4,363 126,188 124,017
Cash, end of period S(589) $13,999 $110,450 $$123,860