Lease operating expenses, before severance and ad valorem taxes, were $9.70 per Boe in the fourth quarter 2012, a decrease of 1% compared to $9.82 per Boe in the fourth quarter of 2011. Aggregate lease operating expenses increased 14% due to higher gas processing, chemical treating costs and lease supervision costs from our South Texas operations, associated with higher production volumes in the current period.Severance and ad valorem taxes decreased to $4.19 per Boe in the fourth quarter 2012 from $4.92 per Boe in the fourth quarter of 2011 due to a higher percentage of production in Texas, as Texas has a lower severance tax rate for oil than Louisiana.
Swift Energy Announces: 15% Increase In Fourth Quarter 2012 Production To 3.11 Million Barrels Of Oil Equivalent
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