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7. Related-Party Transactions We are the operator of a number of properties owned by our affiliated limited partnerships and, accordingly, charge these entities operating fees. The operating fees charged to the partnerships in 2002, 2001, and 2000 totaled approximately $300,000, $925,000, and $1,775,000, respectively, and are recorded as reductions in general and administrative expense and oil and gas production expense. We are also reimbursed for direct, administrative, and overhead costs incurred in conducting the business of the limited partnerships, which totaled approximately $973,000, $3,140,000, and $4,465,000 in 2002, 2001, and 2000, respectively. In partnerships in which the limited partners have voted to sell their remaining properties and liquidate their limited partnerships, we are also reimbursed for direct, administrative, and overhead costs incurred in the disposition of such properties, which costs totaled approximately $510,000, $2,360,000, and $1,220,000 in 2002, 2001, and 2000, respectively.
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This page was last updated on Tuesday, April 01, 2003, at 08:19:05 AM. Copyright © 1994-2008 by Swift Energy Company. |
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