For the Three Months Ended June 30, 2023 Compared to the Three Months Ended June 30, 2022
Net income of $9.8 million and $29.2 million were recorded for the three months ended June 30, 2023 and 2022, respectively.
Oil, natural gas and NGL revenues were $67.4 million and $112.9 million for the three months ended June 30, 2023 and 2022, respectively. Average net production volumes were approximately 21.2 MBoe/d and 20.4 MBoe/d for the three months ended June 30, 2023 and 2022, respectively. The change in production volumes was primarily due to the restart of operations at Beta and was partially offset by natural declines. The average realized sales price was $34.97 per Boe and $60.74 per Boe for the three months ended June 30, 2023 and 2022, respectively. The decrease in average realized sales price was primarily due to the decrease in commodity prices.
Other revenues were $4.6 million and $8.9 million for the three months ended June 30, 2023 and 2022, respectively. The change in other revenues was primarily related to one month of loss of production income (“LOPI”) insurance proceeds of $4.5 million for the three months ended June 30, 2023 compared to two months of LOPI proceeds of $8.8 million for the three months ended June 30, 2022.
Lease operating expense was $34.9 million and $33.3 million for the three months ended June 30, 2023 and 2022, respectively. On a per Boe basis, lease operating expense was $18.10 and $17.91 for the three months ended June 30, 2023 and 2022, respectively. The change in lease operating expense on a per Boe basis was due to higher costs associated with the restart of operations at Beta.
Gathering, processing and transportation expense was $5.1 million and $7.3 million for the three months ended June 30, 2023 and 2022, respectively. The decrease in gathering, processing and transportation expense was primarily related to the expiration of the minimum volume commitment (“MVC”) fee for the East Texas/North Louisiana property in November 2022. During the three months ended June 30, 2022, we started marketing our own natural gas in Oklahoma, which resulted in us now recognizing certain revenue deductions as gathering, processing and transportation expenses. On a per Boe basis, gathering, processing and transportation expense was $2.67 and $3.92 for the three months ended June 30, 2023 and 2022, respectively. The change on a per BOE basis is primarily related to decrease in production and a decrease in MVC fees.
Taxes other than income were $5.2 million and $8.6 million for the three months ended June 30, 2023 and 2022, respectively. The decrease was due to a reduction in production taxes as a result of lower commodity prices and lower production. On a per Boe basis, taxes other than income were $2.70 and $4.64 for the three months ended June 30, 2023 and 2022, respectively.
DD&A expense was $7.1 million and $5.9 million for the three months ended June 30, 2023 and 2022, respectively. The change in DD&A expense was primarily due to an increase in production of 70 MBoe, which equates to an increase of approximately $0.2 million in the change of production and an increase of $1.0 million in our depletion rate.
General and administrative expense was $7.8 million and $8.6 million for the three months ended June 30, 2023 and 2022, respectively. The change in general and administrative expense was primarily related to (i) a decrease of $0.8 million in legal expense, and (ii) a decrease of $0.6 million in professional services partially offset by (i) an increase of $0.5 million in stock compensation expense and (ii) an increase of $0.1 million in salaries and other payroll benefits.
Net gain on commodity derivative instruments of $3.8 million were recognized for the three months ended June 30, 2023, consisting of a $1.5 million of cash settlements received on expired positions and an increase of $2.3 million in the fair value of open positions. Net loss on commodity derivative instruments of $18.6 million was recognized for the three months ended June 30, 2022, consisting of a $30.0 million increase in the fair value of open positions offset by $48.6 million of cash settlements paid on expired positions.
Pipeline incident loss was $6.8 million and $5.1 million for the three months ended June 30, 2023 and 2022, respectively. The costs reflect certain expenses that are not expected to be recovered under an insurance policy. See Note 16 of the Notes to Unaudited Condensed Consolidated Financial Statements included under “Item 1. Financial Statements” of this quarterly report for additional information.
Litigation settlement was not recorded for the three months ended June 30, 2023 and 2022.
Interest expense, net was $3.7 million and $3.1 million for the three months ended June 30, 2023 and 2022, respectively. The change in interest expense is primarily due to higher interest rates offset by lower debt outstanding during the period.