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Elevated approximately $three million, mainly reflecting an improve in production tiffany and co usa from our Haynesville Shale properties.Common and administrative costs for each BOE had been roughly 7% reduce than the first quarter of 2010 on greater volumes and lower expenses. The tiffany and co australia by-product devices we have in place are not classified as hedges for accounting purposes. Consequently, these by-product contracts are mark to marketplace each quarter with a honest value gains and losses, each recognized and unrealized, recognized presently as a gain or loss on mark to marketplace by-product contracts in our income statement.Cash flow is only impacted to the extent the actual settlements below the contracts result in creating a payment to or receiving a payment from the counterparty. We recognized a $fifty one million reduction in mark to marketplace by-product contracts in the initial quarter of 2011, which is primarily associated with a decrease in the fair value of our 2011 and 2012 crude oil puts and our 2011 crude oil colours because of to higher crude oil costs.In the initial quarter of 2010, we acknowledged a $7.nine million acquire associated to the mark to market derivative contracts. There have been no changes in our open derivative positions since our final quarterly report. And a summary of PXP's by-product positions is included with the monetary tables in the push launch.At March 31, 2011, PXP owns fifty one million shares of tiffany and co rings McMoRan common stock. We've elected to evaluate our fairness investment at McMoRan at fair worth. As a outcome, unrealized gains and losses on expense will be noted quarterly on our consolidated assertion of income, which could outcome in volatility in our earnings.In the initial quarter of 2011, PXP reported a $67.three million gain on expense. A total dialogue can be discovered in the ten Q.Operationally, PXP began 2011 well positioned to carry on expanding production and reserves with contribution from numerous asset areas, which consist of experienced properties with long lived reserves and significant development opportunity, as well as newer properties with development and exploration potential. We believe our portfolio of property and our ongoing hedging plan place us well for both the present commodity cost environment and long term possible upside, as we create our attractive resource chance such as our California, Eagle Ford Shale, Granite Wash and Haynesville Shale resource plays.Our drilling plan remains energetic, and here's a quick update: In the Eagle Ford Shale, PXP has 5 drilling