FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 1996

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

8. Related-Party Transactions

The Company is the operator of a substantial number of properties owned by its affiliated limited partnerships and joint ventures and accordingly charges these entities and third party joint interest owners operating fees. The Company is also reimbursed for direct, administrative, and overhead costs incurred in conducting the business of the limited partnerships, which totaled approximately $6,100,000, $4,800,000, and $4,400,000 in 1996, 1995, and 1994, respectively. The Company was 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 $250,000, $600,000, and $1,400,000 in 1996, 1995, and 1994, respectively.

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