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EXCEL - IDEA: XBRL DOCUMENT - Mewbourne Energy Partners 07-A, L.P.Financial_Report.xls
XML - IDEA: XBRL DOCUMENT - Mewbourne Energy Partners 07-A, L.P.R6.htm
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EX-99.1 - REPORT OF FORREST A. GARB & ASSOCIATES, INC. - Mewbourne Energy Partners 07-A, L.P.d281781dex991.htm
EX-31.1 - CERTIFICATION OF CEO PURSUANT TO SECTION 302 OF SARBANES-OXLEY ACT OF 2002 - Mewbourne Energy Partners 07-A, L.P.d281781dex311.htm
EX-32.1 - CERTIFICATION OF CEO PURSUANT TO SECTION 906 OF SARBANES-OXLEY ACT OF 2002 - Mewbourne Energy Partners 07-A, L.P.d281781dex321.htm
EX-31.2 - CERTIFICATION OF CFO PURSUANT TO SECTION 302 OF SARBANES-OXLEY ACT OF 2002 - Mewbourne Energy Partners 07-A, L.P.d281781dex312.htm
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10-K - FORM 10-K - Mewbourne Energy Partners 07-A, L.P.d281781d10k.htm
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EX-32.2 - CERTIFICATION OF CFO PURSUANT TO SECTION 906 OF SARBANES-OXLEY ACT OF 2002. - Mewbourne Energy Partners 07-A, L.P.d281781dex322.htm
v2.4.0.6
Organization And Related Party Transactions
12 Months Ended
Dec. 31, 2011
Organization And Related Party Transactions [Abstract]  
Organization And Related Party Transactions

3. Organization and Related Party Transactions:

The Partnership was organized on March 1, 2007 in accordance with the laws of the state of Delaware. MD, a Delaware Corporation, has been appointed as the Registrant's managing general partner. MD has no significant equity interest in the Registrant. Mewbourne Oil Company (MOC) is operator of oil and gas properties owned by the Partnership. Mewbourne Holdings, Inc. is the parent of both MD and MOC. Substantially all transactions are with MD and MOC.

In the ordinary course of business, MOC will incur certain costs that will be passed on to well owners of the well for which the costs were incurred. The Partnership will receive their portion of these costs based upon their ownership in each well incurring the costs. These costs are referred to as operator charges and are standard and customary in the oil and gas industry. Operator charges include recovery of gas marketing costs, fixed rate overhead, supervision, pumping, and equipment furnished by the operator, some of which will be included in the full cost pool pursuant to Rule 4-10(c)(2) of Regulation S-X. Amounts accrued for and paid to MOC for operator charges totaled $506,961 and $532,057 for the years ended December 31, 2011 and 2010, respectively. Operator charges are billed in accordance with the Program and Partnership Agreements.

In consideration for services rendered by MD in managing the business of the Partnership, the Partnership during each of the initial three years of the Partnership pays to MD a management fee in the amount equal to 7/10's of 1% of the subscriptions by the investor partners to the Partnership. Management fees can only be paid out of funds available for distributions. Management fees of $490,000 were allocated to the Partnership for the year ended December 31, 2010; none were allocated to the Partnership for the year ended December 31, 2011. The Partnership includes the management fee as part of the full cost pool pursuant to Rule 4-10(c)(2) of Regulation S-X.

In accordance with the Partnership agreement, during any particular calendar year, the total amount of administrative expenses allocated to the Partnership by MOC shall not exceed the greater of (a) 3.5% of the Partnership's gross revenue from the sale of oil and natural gas production during each year (calculated without any deduction for operating costs or other costs and expenses) or (b) the sum of $50,000 plus .25% of the capital contributions of limited and general partners. Administrative expenses can only be paid out of funds available for distributions. Under this arrangement, $272,481 and $403,017 were allocated to the Partnership during the years ended December 31, 2011 and 2010, respectively.

The Partnership participates in oil and gas activities through a Drilling Program Agreement (the "Program"). The Partnership and MD are parties to the Program Agreement. The costs and revenues of the Program are allocated to MD and the Partnership as follows:

 

     Partnership     MD  

Revenues:

    

Proceeds from disposition of depreciable and depletable properties

     70     30

All other revenues

     70     30

Costs and expenses:

    

Organization and offering costs (1)

     0     100

Lease acquisition costs (1)

     0     100

Tangible and intangible drilling costs (1)

     100     0

Operating costs, reporting and legal expenses, general and administrative expenses and all other costs

     70     30

 

(1) As noted above, pursuant to the Program, MD must contribute 100% of organization and offering costs and lease acquisition costs which should approximate 20% of total capital costs. To the extent that organization and offering costs and lease acquisition costs are less than 20% of total capital costs, MD is responsible for tangible drilling costs until its share of the Program's total capital costs reaches approximately 20%. The Partnership's financial statements reflect its respective proportionate interest in the Program.