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SWIFT ENERGY COMPANY 1999 ANNUAL REPORT |
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Notes to Consolidated Financial Statements |
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SWIFT ENERGY COMPANY 1999 ANNUAL REPORT |
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Notes to Consolidated Financial Statements |
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We are the operator of a substantial number of properties
owned by our affiliated limited partnerships and joint ventures and,
accordingly, charge these entities and third-party joint interest owners
operating fees. We are also reimbursed for direct, administrative, and
overhead costs incurred in conducting the business of the limited
partnerships, which totaled approximately $4,000,000, $5,000,000, and
$6,300,000 in 1999, 1998, and 1997, respectively. We were also reimbursed by
the limited partnerships and joint ventures for costs incurred in the
screening, evaluation, and acquisition of producing oil and gas properties on
their behalf. Such costs totaled approximately $490,000 in 1997. With the
acquisitions made in 1997, we have fulfilled our responsibility of acquiring
properties for such partnerships, as those partnerships are fully invested in
properties. In the case where the limited partners voted to sell their
remaining properties and liquidate their limited partnerships, we were also
reimbursed for direct, administrative, and overhead costs incurred in the
disposition of such properties, which costs totaled approximately $850,000,
$580,000, and $675,000 in 1999, 1998, and 1997, respectively.
This page was last updated on Saturday, February 08, 2003, at 07:28:53 PM.
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