NOTE 5 – OTHER ASSETS

The following is a summary of other assets at the dates indicated (in thousands):

	June 30, 2014		December 31, 2013
Deferred financing costs, net of accumulated amortization of $15,660 and $11,948 at June 30, 2014 and December 31, 2013, respectively	$	42,534	$	35,292
Notes receivable		3,875		3,978
Long-term derivative asset receivable from Drilling Partnerships		947		863
Other		4,160		2,688
	$	51,516	$	42,821

Deferred financing costs are recorded at cost and amortized over the term of the respective debt agreements (see Note 7). Amortization expense of deferred financing costs was $1.9 million and $1.2 million for the three months ended June 30, 2014 and 2013, respectively, and $3.7 million and $2.6 million for the six months ended June 30, 2014 and 2013, respectively, which was recorded within interest expense on the Partnership’s consolidated statements of operations. During the three and six months ended June 30, 2014, the Partnership recognized $8.3 million of deferred financing costs relating to the amendment to its revolving credit facility in connection with the Rangely Acquisition (see Note 7). During the six months ended June 30, 2013, the Partnership recognized $3.2 million for accelerated amortization of deferred financing costs associated with the retirement of its then-existing term loan facility and a portion of the outstanding indebtedness under its revolving credit facility with a portion of the proceeds from its issuance of its 7.75% senior notes due 2021 (see Note 7). There was no accelerated amortization of deferred financing costs during the three months ended June 30, 2014 and 2013 and during the six months ended June 30, 2014.

At June 30, 2014 and December 31, 2013, the Partnership had notes receivable with certain investors of its Drilling Partnerships, which were included within other assets, net on the Partnership’s consolidated balance sheets. The notes have a maturity date of March 31, 2022, and a 2.25% per annum interest rate. The maturity date of the notes can be extended to March 31, 2027, subject to certain conditions, including an extension fee of 1.0% of the outstanding principal balance. For the three and six months ended June 30, 2014, approximately $23,000 and $46,000 of interest income, respectively, was recognized within other, net on the Partnership’s consolidated statements of operations. For the three and six months ended June 30, 2013, there was approximately $25,000 of interest income recognized within other, net on the Partnership’s consolidated statements of operations. At June 30, 2014, the Partnership recorded no allowance for credit losses within its consolidated balance sheets based upon payment history and ongoing credit evaluations associated with the notes receivable.