Williams Coal Seam Gas Royalty Trust Announces Quarterly Cash
Distribution
DALLAS, Aug. 4 /PRNewswire-FirstCall/ -- Bank of America, N.A., as trustee of
Williams Coal Seam Gas Royalty Trust (NYSE:WTU), today announced a quarterly
cash distribution to the holders of its units of beneficial interest of
$0.405316 per unit, payable August 27, 2004 to unitholders of record on August
16, 2004.
The Trust owns net profits interests in certain proved coal seam gas properties
owned by Williams Production Company (WPC) and located in the San Juan Basin of
northwestern New Mexico and southwestern Colorado, including WPC's 35 percent
net profits interest in 5,348 gross acres in La Plata County, Colorado (the
"Farmout Properties"). WPC reported that production attributable to its gross
interests in the properties burdened by the Trust's net profits interests was
4.7 trillion British thermal units (TBtu) during the period associated with
this quarterly cash distribution compared to 5.1 TBtu during the preceding
period. When prior period adjustments are excluded, production in the current
quarter was 4.6 TBtu compared to a similar 4.8 TBtu in the preceding quarter.
The distribution per unit increased from $0.396403 to $0.405316 primarily as a
result of an increase in revenue attributable to a positive retroactive
adjustment of $0.04 for the Working Interest Properties in the second quarter
of 2004.
The Trust is a grantor trust formed by The Williams Companies, Inc., parent
company of WPC, and was designed to provide unitholders with quarterly cash
distributions and tax credits under Section 29 of the Internal Revenue Code
from certain coal seam gas properties. The units are listed on The New York
Stock Exchange under the symbol "WTU".
For more information on Williams Coal Seam Gas Royalty Trust, please visit our
website at http://www.wtu-williamscoalseamgastrust.com/ . DATASOURCE: Williams Coal Seam Gas Royalty Trust CONTACT: Ron E. Hooper, Senior Vice President of Bank of America, N.A., Trustee, +1-800-365-6544, for Williams Coal Seam Gas Royalty Trust Web site: http://www.wtu-williamscoalseamgastrust.com/ Company News On-Call: http://www.prnewswire.com/comp/118836.html
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