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FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 2001NOTES TO CONSOLIDATED FINANCIAL STATEMENTS5. Commitments and Contingencies
Total rental and lease expenses were $1,322,611 in 2001, $1,255,474
in 2000, and $1,272,497 in 1999. Our remaining minimum annual
obligations under non-cancelable operating lease commitments are
$1,393,095 for 2002, $1,480,092 for 2003, $1,492,268 for 2004, and
$248,711 for 2005. The rental and lease expenses and remaining minimum
annual obligations under non-cancelable operating lease commitments
primarily relate to the lease of our office space in Houston, Texas. As of December 31, 2001, we were the managing general partner of 71
limited partnerships. Because we serve as the general partner of these
entities, under state partnership law we are contingently liable for the
liabilities of these partnerships, which liabilities are not material
for any of the periods presented in relation to the partnerships’
respective assets. In the ordinary course of business, we have been party to various
legal actions, which arise primarily from our activities as operator of
oil and gas wells. In management’s opinion, the outcome of any such
currently pending legal actions will not have a material adverse effect
on the financial position or results of operations of Swift.
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This page was last updated on Saturday, February 08, 2003 , at 07:46:34 PM . Copyright © 1994-2008 by Swift Energy Company. |
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