The Hovensa refinery ran its crude units at 76.9 percent ofcapacity in the third quarter, down from 88.4 percent in thesecond quarter and off sharply from 91.3 percent in theyear-ago period, Hess said in a regulatory filing. These statementsreflect USOG's current beliefs and are based upon information currentlyavailable to it. As a result, from October 1, 2008,all of our interest rate swap agreements and our swaption agreement aremarked to market with all changes in the fair value of these instrumentsrecorded in "Change in fair value of financial instruments" in theStatement of Operations. Excluding acquired operatingexpenses of $11.2 million and one-time integration and restructuring chargesof $0.6 million in the quarter, underwriting and other operating expensesremained flat notwithstanding a $1.6 million decrease in the allowance for baddebt in 2008. These factors include, but are not limitedto general economic conditions, competition, new ventures, governmentregulation, legalization of gaming, interest rates, future terrorist acts,insurance, and other factors detailed in the reports filed by Las Vegas SandsCorp.
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