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The following is an excerpt from a 10-Q SEC Filing, filed by EAGLE ROCK ENERGY PARTNERS L P on 5/15/2007. |
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EAGLE ROCK ENERGY PARTNERS L P - 10-Q - 20070515 - CASH_FLOW
EAGLE ROCK ENERGY PARTNERS, L.P.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
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Three Months
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Ended March 31,
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($ in thousands)
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2007
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2006
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CASH FLOWS FROM OPERATING ACTIVITIES:
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Net loss
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$
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(19,668
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)
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$
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(15,517
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)
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Adjustments to reconcile net loss to net cash provided by operating activities:
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Depreciation and amortization
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11,630
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9,214
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Amortization of debt issuance costs
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416
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229
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Reclassifying financing derivative settlements
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(100
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)
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(811
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)
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Equity-based compensation expense
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173
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—
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Other
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120
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17
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Changes in assets and liabilities — net of acquisitions:
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Accounts receivable
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(1,000
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(4,002
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Prepayments and other current assets
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557
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306
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Risk management activities
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12,254
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15,905
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Accounts payable
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4,252
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(3,265
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)
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Accrued liabilities
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5,623
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2,056
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Other assets
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(76
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761
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Net cash provided by operating activities
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14,181
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4,893
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CASH FLOWS FROM INVESTING ACTIVITIES:
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Additions to property, plant and equipment
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(16,145
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(6,218
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Acquisitions
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—
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(75,654
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Escrow cash
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—
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7,643
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Purchase of intangible assets
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(513
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(717
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Net cash used in investing activities
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(16,658
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(74,946
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CASH FLOWS FROM FINANCING ACTIVITIES:
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Proceeds from revolver
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(9,000
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—
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Repayment of revolver
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9,000
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—
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Repayment of long-term debt
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—
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(1,320
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Payment of debt issuance costs
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—
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(431
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)
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Proceeds from derivative contracts
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100
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811
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Payment of deferred offering costs
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—
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(1,452
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)
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Contribution by members
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—
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98,390
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Distributions to members and affiliates
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(6,145
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)
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—
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Net cash (used in) provided by financing activities
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(6,045
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)
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95,998
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NET CHANGE IN CASH AND CASH EQUIVALENTS
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(8,522
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)
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25,945
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CASH AND CASH EQUIVALENTS — Beginning of period
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10,581
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19,372
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CASH AND CASH EQUIVALENTS — End of period
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$
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2,059
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$
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45,317
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Interest paid — net of amounts capitalized
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$
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7,925
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$
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9,467
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Investments in property, plant and equipment not paid
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$
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6,943
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$
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—
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