ATPG » Topics » Lease Operating

This excerpt taken from the ATPG 10-Q filed May 11, 2009.

Lease Operating

Lease operating expenses include costs incurred to operate and maintain wells and related equipment and facilities. These costs include, among others, workover expenses, operator fees, processing fees, insurance and transportation. Lease operating expense for the quarters ended March 31, 2009 and 2008 was as follows:

 

     Three Months Ended
March 31,
   % Change
from 2008

to 2009
 
     2009    2008   

Lease operating (in thousands)

   $ 20,214    $ 24,618    (18 )%

Per Mcfe

     2.03      1.14    78 %

Gulf of Mexico

     1.95      1.09    79 %

North Sea

     3.33      1.28    160 %

 

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Table of Contents

Lease operating expense for first quarter 2009 decreased compared to first quarter 2008 primarily due to due to the sale of 80% of our working interest in Tors and Wenlock in fourth quarter 2008. The per unit cost has increased primarily due to the effect of fixed costs on lower production volumes.

These excerpts taken from the ATPG 10-K filed Mar 13, 2009.

Lease Operating

Lease operating expenses include costs incurred to operate and maintain wells and related equipment and facilities. These costs include, among others, workover expenses, operator fees, processing fees, insurance and transportation. Lease operating expense for the years ended December 31, 2008, 2007 and 2006 was as follows:

 

    

 

Year Ended December 31,

   % Change
from 2007
to 2008
    % Change
from 2006
to 2007
 
   2008    2007    2006     

Lease operating (in thousands)

   $ 91,196    $ 91,693    $ 72,446    (1 )%   27 %

Per Mcfe

     1.59      1.43      1.42    11 %   1 %

Gulf of Mexico

     1.60      1.41      1.42    13 %   (1 )%

North Sea

     1.56      1.55      1.45    1 %   7 %

Lease operating expense for 2008 was essentially unchanged compared to 2007. The per unit cost has increased primarily due to the effect of fixed costs on 10% lower production volumes.

Lease operating expenses for 2007 increased to $91.7 million ($1.43 per Mcfe) from $72.4 million ($1.42 per Mcfe) in 2006. The increase was primarily attributable to the production increases noted above. Typically, as production increases, our lease operating expense per unit decreases as a result of fixed costs. However, due to significantly higher insurance costs, our per unit costs have remained flat.

Lease Operating

FACE="Times New Roman" SIZE="2">Lease operating expenses include costs incurred to operate and maintain wells and related equipment and facilities. These costs include, among others, workover expenses, operator fees, processing fees, insurance and
transportation. Lease operating expense for the years ended December 31, 2008, 2007 and 2006 was as follows:

 












































































































   

 

Year
Ended December 31,

  % Change
from 2007
to 2008
  % Change
from 2006
to 2007
 
  2008  2007  2006   

Lease operating (in thousands)

  $91,196  $91,693  $72,446  (1)% 27%

Per Mcfe

   1.59   1.43   1.42  11% 1%

Gulf of Mexico

   1.60   1.41   1.42  13% (1)%

North Sea

   1.56   1.55   1.45  1% 7%

Lease operating expense for 2008 was essentially unchanged compared to 2007. The per unit cost has
increased primarily due to the effect of fixed costs on 10% lower production volumes.

Lease operating expenses for 2007 increased to $91.7
million ($1.43 per Mcfe) from $72.4 million ($1.42 per Mcfe) in 2006. The increase was primarily attributable to the production increases noted above. Typically, as production increases, our lease operating expense per unit decreases as a result of
fixed costs. However, due to significantly higher insurance costs, our per unit costs have remained flat.

This excerpt taken from the ATPG 10-Q filed Nov 10, 2008.

Lease Operating

Lease operating expense for the first nine months of 2008 increased to $73.1 million ($1.40 per Mcfe) from $62.3 million ($1.42 per Mcfe) in the first nine months of 2007. The increase was primarily attributable to the production increases noted above. The per unit cost has decreased primarily due to the effect of fixed costs. In the first nine months of 2008, lease operating expense per Mcfe in the Gulf of Mexico and the North Sea was $1.41 and $1.36, respectively. In the first nine months of 2007, lease operating expense per Mcfe in the Gulf of Mexico and North Sea was $1.39 and $1.57, respectively.

This excerpt taken from the ATPG 10-Q filed Aug 8, 2008.

Lease Operating

Lease operating expenses for the first half of 2008 increased to $48.4 million ($1.21 per Mcfe) from $41.2 million ($1.35 per Mcfe) in the first half of 2007. The increase was primarily attributable to the production increases noted above. The per unit cost has decreased primarily due to the effect of fixed costs. In the first half of 2008, lease operating expense per Mcfe in the Gulf of Mexico and the North Sea was $1.19 and 1.28, respectively. In the first half of 2007, lease operating expense per Mcfe in the Gulf of Mexico and North Sea was $1.26 and $1.77, respectively.

This excerpt taken from the ATPG 10-Q filed May 12, 2008.

Lease Operating

Lease operating expenses for first quarter 2008 increased to $24.6 million ($1.14 per Mcfe) from $21.1 million ($1.33 per Mcfe) in first quarter 2007. The increase was primarily attributable to the production increases noted above. The per unit cost has decreased due to the effect of fixed costs.

These excerpts taken from the ATPG 10-K filed Mar 7, 2008.

Lease Operating

Lease operating expenses include costs incurred to operate and maintain wells and related equipment and facilities. These costs include, among others, workover expenses, operator fees, processing fees, insurance and transportation. Lease operating expense for the years ended December 31, 2007, 2006 and 2005 was as follows ($ in thousands):

 

     Year Ended December 31,    % Change
from 2006
to 2007
    % Change
from 2005
to 2006
 
     2007    2006    2005     

Lease operating

   $ 91,693    $ 72,446    $ 23,629    27 %   207 %

Per Mcfe

   $ 1.43    $ 1.42    $ 1.19    1 %   19 %

Lease operating expenses for 2007 increased to $91.7 million ($1.43 per Mcfe) from $72.4 million ($1.42 per Mcfe) in 2006. The increase was primarily attributable to the production increases noted above. Typically, as production increases, our lease operating expense per unit decreases as a result of fixed costs. However, due to significantly higher insurance costs, our per unit costs have remained flat.

 

36


Table of Contents
Index to Financial Statements

The 207% increase in 2006 compared to 2005 was primarily attributable to costs incurred in the Gulf of Mexico due to the increased production levels in 2006 compared to 2005. The 19% increase in such costs on a per unit of production basis reflects the price spikes we experienced for materials and labor in the Gulf of Mexico after the 2005 hurricanes.

Lease Operating

SIZE="2">Lease operating expenses include costs incurred to operate and maintain wells and related equipment and facilities. These costs include, among others, workover expenses, operator fees, processing fees, insurance and transportation. Lease
operating expense for the years ended December 31, 2007, 2006 and 2005 was as follows ($ in thousands):

 











































































   Year Ended December 31,  % Change
from 2006
to 2007
  % Change
from 2005
to 2006
 
   2007  2006  2005   

Lease operating

  $91,693  $72,446  $23,629  27% 207%

Per Mcfe

  $1.43  $1.42  $1.19  1% 19%

Lease operating expenses for 2007 increased to $91.7 million ($1.43 per Mcfe) from $72.4 million
($1.42 per Mcfe) in 2006. The increase was primarily attributable to the production increases noted above. Typically, as production increases, our lease operating expense per unit decreases as a result of fixed costs. However, due to significantly
higher insurance costs, our per unit costs have remained flat.

 


36







Table of Contents


Index to Financial Statements


The 207% increase in 2006 compared to 2005 was primarily attributable to costs incurred in the Gulf of
Mexico due to the increased production levels in 2006 compared to 2005. The 19% increase in such costs on a per unit of production basis reflects the price spikes we experienced for materials and labor in the Gulf of Mexico after the 2005
hurricanes.

This excerpt taken from the ATPG 10-K filed Mar 2, 2007.

Lease Operating

Lease operating expenses include costs incurred to operate and maintain wells and related equipment and facilities. These costs include, among others, workover expenses, operator fees, processing fees, insurance and transportation. Lease operating expense for the years ended December 31, 2006, 2005 and 2004 was as follows ($ in thousands):

 

     Year Ended December 31,   

% Change
from 2005

to 2006

   

% Change
from 2004

to 2005

 
     2006    2005    2004     

Lease operating

   $ 72,446    $ 23,629    $ 19,531    207 %   21 %

Per Mcfe

   $ 1.42    $ 1.19    $ 0.87    19 %   37 %

The 207% increase in 2006 compared to 2005 was primarily attributable to costs incurred in the Gulf of Mexico due to the increased production levels in 2006 compared to 2005. The 19% increase in such costs on a per unit basis reflects the price spikes we experienced for materials and labor in the Gulf of Mexico after the 2005 hurricanes.

The 37% increase per Mcfe in 2005 compared to 2004 was primarily attributable to costs incurred in the Gulf of Mexico for uninsured costs incurred as a result of the tropical storm activity during 2005, and certain fixed costs relative to our lower production volumes in 2005.

This excerpt taken from the ATPG 10-K filed Mar 15, 2006.

Lease Operating

Lease operating expenses include costs incurred to operate and maintain wells and related equipment and facilities. These costs include, among others, workover expenses, operator fees, processing fees, insurance and transportation. Lease operating expense for the years ended December 31, 2005, 2004 and 2003 was as follows ($ in thousands):

 

     Years Ended December 31,   

% Change
from 2004

to 2005

   

% Change
from 2003

to 2004

 
     2005    2004    2003     

Lease operating expense

   $ 23,629    $ 19,531    $ 17,173    21 %   14 %

Per Mcfe

   $ 1.19    $ 0.87    $ 1.00    37 %   (13 )%

The 37% increase per Mcfe in 2005 compared to 2004 was primarily attributable to costs incurred in the Gulf of Mexico for uninsured costs incurred as a result of the tropical storm activity during 2005, and certain fixed costs relative to our lower production volumes in 2005.

The 13% decrease per Mcfe in 2004 compared to 2003 was primarily attributable to the aforementioned increase in production. Additionally, workover activities in 2004 were significantly lower than in 2003.

"Lease Operating" elsewhere:

Newfield Exploration Company (NFX)
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