We received $93,134 as a final distribution from Tidelands for the three months ended
March 31, 2022. We did not receive any income from distributions from Tidelands for the three months ended March 31, 2021.
The
following table presents the quantities of oil and natural gas sold and the average price realized for the three months ended March 31, 2022, and those realized for the comparable period in 2021.
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2022 |
|
|
2021 |
|
|
|
(unaudited) |
|
Oil |
|
|
|
|
|
|
|
|
Bbls sold |
|
|
4,718 |
|
|
|
1,965 |
|
Average price |
|
$ |
74.05 |
|
|
$ |
39.94 |
|
Natural gas |
|
|
|
|
|
|
|
|
Mcf sold |
|
|
3,681 |
|
|
|
1,428 |
|
Average price, net of expenses |
|
$ |
5.98 |
|
|
$ |
2.82 |
|
General and administrative expenses increased to $78,196 for the three months ended March 31, 2022 from
$71,343 for the comparable period of 2021, primarily due to timing of payment of expenses.
Results of OperationsNine Months Ended March 31,
2022 Compared to the Nine Months Ended March 31, 2021
Income from oil and natural gas royalties, excluding the Trusts
interest in Tidelands, increased to $865,314 during the nine months ended March 31, 2022 from $237,686 realized for the comparable period in 2021. Royalties increased for the nine months ended March 31, 2022 primarily due to an increase in
the price and production of oil and natural gas, as compared to the comparable period in 2021.
Distributable income increased to $770,793
for the nine months ended March 31, 2022 from $49,229 realized for the comparable period in 2021.
Income from oil royalties for the
nine months ended March 31, 2022 increased to $806,273 from $226,167 realized for the comparable period in 2021. The volume of oil sold in the nine months ended March 31, 2022 increased to 11,635 bbls from 6,624 bbls realized for the
comparable period in 2021, and the average price realized for oil increased to $69.30 per bbl for the nine months ended March 31, 2022 from $34.14 per bbl realized for the comparable period in 2021.
Income from natural gas royalties (net of expenses) for the nine months ended March 31, 2022 increased to $59,041 from $11,519 for the
comparable period in 2021. The volume of natural gas sold in the nine months ended March 31, 2022 increased to 10,457 mcf from 5,546 mcf realized for the comparable period in 2021, and the average price realized for natural gas (net of
expenses) increased to $5.65 per mcf for the nine months ended March 31, 2022 from $2.08 per mcf realized for the comparable period in 2021.
We received $93,134 as a final distribution from Tidelands for the nine months ended March 31, 2022. We did not receive any income from
distributions from Tidelands for the nine months ended March 31, 2021.
The following table presents the quantities of oil and
natural gas sold and the average price realized for the nine months ended March 31, 2022, and those realized for the comparable period in 2021, excluding the Trusts interest in Tidelands.
11