Lease operating expenses, which included ad valorem taxes, were $10.9 million, or $15.68 per Boe, in 2012 compared to $8.5 million, or $19.56 per Boe, in 2011. Development and drilling activities in 2012 have equated to an increase in the aggregate number of producing wells and operating expenses; however the realized production received from these new wells resulted in approximately 20% lower lease operating expense per Boe.Production taxes in 2012 were $2.0 million, or $2.82 per Boe, for an effective tax rate of approximately 3.2% compared to production taxes in 2011 of $1.9 million, or $4.31 per Boe, for an effective tax rate of 4.9%. The decrease in the 2012 effective tax rate was due to select Southern Oklahoma properties having received a reduced production tax rate from Oklahoma's Enhanced Oil Recovery Project Gross Production Tax Exemption.
Mid-Con Energy Partners, LP Announces Full Year And Fourth Quarter 2012 Results, 2012 Year End Proved Reserves, 2013 Guidance And Updated Hedge Positions
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