Note 3 - Related Party Transactions

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

3. Related Party Transactions

Our general partner owns all of the partnership interests in the operating partnership. It is the employer of all personnel, owns the working interests and other properties underlying our

NPIs, and provides day-to-day operational and administrative services to us and the general partner. In accordance with our partnership agreement, we reimburse the general partner for certain allocable general and administrative costs, including rent, salaries, employee equity and benefit plans that are

not

direct expenses. These types of reimbursements are limited to

5%

of distributions, plus certain costs previously paid. All such costs have been below the annual

5%

limit amount, including the allowable surplus carryforward, for the years ended

December 

31,

2017,

2016,

and

2015.

Additionally, certain reimbursable direct expenses such as professional and regulatory fees and ad valorem and severance taxes, as well as certain general and administrative costs that are related to regulatory matters, are

not

limited. Significant activity between the Partnership and the operating partnership consists of the following:

	In Thousands
From/To Operating Partnership	201 7		201 6			201 5
Net Profits Interest s Payments Receivable	$	5,330	$	2,225		$	3,005
Net Profits Interests Revenue	$	8,014	$	4,824		$	995
General & Administrative Amounts Payable/(Receivable)	$	9	$	(146	)	$	125
Total General & Administrative Expense	$	2,663	$	2,673		$	3,466