Enterprise Products Partners L.P.

SEC Filings

10-Q
GULFTERRA ENERGY PARTNERS L P filed this Form 10-Q on 08/13/1996
Entire Document
 
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             LEVIATHAN GAS PIPELINE PARTNERS, L.P. AND SUBSIDIARIES
                 UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS
                                 (In thousands)


<TABLE>
<CAPTION>
                                                                       For the six months ended
                                                                              June 30,
                                                                    ------------------------------
                                                                        1996             1995
                                                                    -------------    -------------
<S>                                                                 <C>              <C>
Cash flows from operating activities:
   Net income                                                       $      20,073    $      11,062
   Adjustments to reconcile net income to net cash
     provided by operating activities:
      Amortization of debt issue costs                                        383              223
      Depreciation, depletion and amortization                             11,227            3,902
      Minority interest in income                                             230              117
      Equity in earnings                                                   (8,804)          (8,627)
      Distributions from equity investments                                11,998            9,308
      Gain on sale of asset                                                   -             (1,247)
      Deferred income taxes                                                  (388)             (87)
      Other noncash deductions                                             (3,654)              85
      Changes in operating working capital (net of effect of
        conveyance):
        Increase in accounts receivable                                    (6,733)         (10,521)
        Increase in accounts receivable from affiliates                    (3,503)             (81)
        Decrease in other current assets                                       37              491
        Decrease in accounts payable and accrued liabilities              (16,990)          (1,271)
        Increase in payable to affiliates                                   1,228           13,962
                                                                    -------------    -------------
          Net cash provided by operating activities                         5,104           17,316
                                                                    -------------    -------------

Cash flows from investing activities:
   Additions to pipelines, platforms and facilities                       (11,701)         (29,935)
   Equity investments                                                     (10,930)          (3,509)
   Acquisition and development of oil and gas properties                  (30,365)         (30,465)
   Proceeds from sale of asset                                                -              1,250
   Other                                                                      -                (38)
                                                                    -------------    ------------- 
          Net cash used in investing activities                           (52,996)         (62,697)
                                                                    -------------    ------------- 

Cash flows from financing activities:
   Increase in restricted cash                                                (59)            (103)
   Debt issue costs                                                        (1,718)          (2,741)
   Proceeds from note payable                                              55,220           54,500
   Distributions to partners                                              (15,540)         (14,919)
                                                                    -------------    ------------- 
          Net cash provided by financing activities                        37,903           36,737
                                                                    -------------    -------------

Decrease in cash and cash equivalents                                      (9,989)          (8,644)
Cash and cash equivalents at beginning of year                             15,506           17,422
                                                                    -------------    -------------
Cash and cash equivalents at end of period                          $       5,517    $       8,778
                                                                    =============    =============

Cash paid for interest, net of amounts capitalized                  $         -      $         648
Cash paid for income taxes                                          $         -      $          13
</TABLE>



   The accompanying notes are an integral part of this financial statement.


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