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Supplemental Information on Oil & Natural Gas Exploration and Production Activities (unaudited) (Tables)
12 Months Ended
Dec. 31, 2012
Supplemental Information on Oil & Natural Gas Exploration and Production Activities (unaudited)  
Schedule of aggregate capitalized costs relating to oil and gas activities

 

December 31,

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

 

 

Oil and natural gas properties:

 

 

 

 

 

 

 

Proved properties

 

$

13,246,115

 

$

13,246,115

 

$

21,979,751

 

 

 

13,246,115

 

13,246,115

 

21,979,751

 

Less:

 

 

 

 

 

 

 

Accumulated depreciation, depletion and amortization

 

(2,657,247

)

(2,463,179

)

(3,569,405

)

Property impairment

 

(10,540,042

)

(10,282,343

)

(17,249,916

)

Total

 

$

48,826

 

$

500,593

 

$

1,160,430

 

Schedule of costs incurred in oil and gas exploration and development activities

 

 

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

 

 

Oil and natural gas properties:

 

 

 

 

 

 

 

Exploration

 

$

 

$

(1,809

)

$

9,200

 

Development

 

 

35,510

 

368,186

 

Total

 

$

 

$

33,701

 

$

377,386

 

Schedule of results of operations from oil and gas producing activities

 

 

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

 

 

Oil and gas producing activities:

 

 

 

 

 

 

 

Oil sales

 

$

246,317

 

$

917,019

 

$

1,036,282

 

Natural gas sales

 

57,343

 

241,530

 

485,595

 

Production expenses

 

(106,924

)

(350,905

)

(315,265

)

Accretion of asset retirement obligation

 

(19,845

)

(12,182

)

(16,448

)

Depreciation , depletion and amortization

 

(171,180

)

(313,136

)

(540,316

)

Property impairment expense

 

(257,699

)

 

 

Results of operations from producing activities

 

$

(251,988

)

$

482,326

 

$

649,848

 

 

 

 

 

 

 

 

 

Depletion rate per BOE

 

$

26.24

 

$

16.91

 

$

17.78

 

Schedule of changes in estimated net proved developed crude oil and natural gas reserves

 

 

 

Oil
(BBL) (1)

 

Gas
(mcf)

 

BOE (2)

 

Net proved reserves for properties owned by the Partnership

 

 

 

 

 

 

 

Reserves at December 31, 2009

 

41,710

 

188,020

 

73,046

 

Revisions of previous estimates

 

20,258

 

139,882

 

43,572

 

Production

 

(14,268

)

(96,722

)

(30,388

)

Reserves at December 31, 2010

 

47,700

 

231,180

 

86,230

 

 

 

 

 

 

 

 

 

Reserves sold

 

(32,473

)

(74,438

)

(44,880

)

Revisions of previous estimates

 

1,469

 

(15,246

)

(1,071

)

Production

 

(10,056

)

(50,796

)

(18,522

)

Reserves at December 31, 2011

 

6,640

 

90,700

 

21,757

 

 

 

 

 

 

 

 

 

Revisions of previous estimates

 

(2,769

)

(50,258

)

(11,146

)

Production

 

(2,951

)

(21,442

)

(6,524

)

Reserves at December 31, 2012

 

920

 

19,000

 

4,087

 

 

(1)               Oil includes both oil and natural gas liquids

(2)               BOE (barrels of oil equivalent) is calculated by converting 6 MCF of natural gas to 1 BBL of oil. A BBL (barrel) of oil is one stock tank barrel, or 42 U.S. gallons liquid volume, of crude oil or other liquid hydrocarbons.

Schedule of discounted future net cash flows

 

December 31,

 

2012

 

2011

 

2010

 

Crude oil and natural gas properties owned by the Partnership:

 

 

 

 

 

 

 

Future cash inflows

 

$

148,640

 

$

1,076,880

 

$

4,998,080

 

Future production costs

 

(90,140

)

(324,970

)

(2,355,900

)

Future development costs

 

 

 

 

Future net cash flows

 

58,500

 

751,910

 

2,642,180

 

Effect of discounting net cash flows at 10%

 

(3,190

)

(96,690

)

(544,380

)

Discounted future net cash flows

 

$

55,310

 

$

655,220

 

$

2,097,800

 

Schedule of changes in the standardized measure of discounted future net cash flows relating to proved crude oil and natural gas reserves

 

December 31,

 

2012

 

2011

 

2010

 

Crude oil and natural gas properties owned by the Partnership:

 

 

 

 

 

 

 

Standardized measure at beginning of period

 

$

655,220

 

$

2,097,800

 

$

1,323,360

 

Extensions and discoveries

 

 

 

 

 

 

 

Net change in sales price, net of production costs

 

(254,621

)

171,135

 

599,658

 

Revisions of quantity estimates

 

(150,827

)

(28,147

)

1,060,019

 

Net changes in estimated future development costs

 

 

 

 

Changes in production timing rates

 

(83,093

)

(92,615

)

172,591

 

Accretion of discount

 

65,522

 

209,780

 

132,336

 

Sales net of production costs

 

(176,891

)

(795,462

)

(1,190,164

)

Sales of minerals in place

 

 

(907,271

)

 

Net increase (decrease)

 

(599,910

)

(1,442,580

)

774,440

 

Standardized measure at end of year

 

$

55,310

 

$

655,220

 

$

2,097,800