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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. In accordance with the partnership agreements, operating fees charged to the partnerships in 2003, 2002, and 2001 totaled approximately $0.2 million, $0.3 million, and $1.0 million, 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 $0.4 million, $1.0 million, and $3.1 million in 2003, 2002, and 2001, 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, totaling less than $0.1 million, $0.5 million, and $2.4 million in 2003, 2002, and 2001, respectively.
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This page was last updated on Friday, March 19, 2004, at 04:54:01 PM. Copyright © 1994-2008 by Swift Energy Company. |
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