text: **Lease operating expenses.**Our lease operating expenses (LOE) increased by $1.4 million (11.6%) to $13.5 million for the year 
  ended 31 December 2014 from $12.1 million for the same period in prior year but decreased $5.21 per Boe to $6.03 per Boe 
  from $11.23 per Boe. The decrease in LOE per Boe is primarily due to the implementation of several cost saving initiatives in 
  our field operations such as replacing contract lease operators with Company employees and reducing total field head count 
  per well. 
  
  **Production taxes.**Our production taxes increased by $0.7 million (11.2%) to $7.0 million for the year ended 31 December 
  2014 from $6.3 million for the prior year but as a percent of revenue decreased 290 basis points to 4.4% from 7.3%. The 
  decrease in production taxes as a percent of revenue is the result of exiting North Dakota and Colorado, both higher production 
  tax rate jurisdictions, and increasing our investment in Texas and Oklahoma, which are lower production tax rate jurisdictions, 
  as well as an adjustment for lower than anticipated ad valorem taxes. 