VOC Energy Trust Announces Trust Quarterly Distribution
January 16 2020 - 4:05PM
Business Wire
VOC Energy Trust (NYSE: VOC) announced the Trust distribution of
net profits for the fourth quarterly payment period ended December
31, 2019.
Unitholders of record on January 30, 2020 will receive a
distribution amounting to $1,870,000 or $0.11 per unit, payable
February 14, 2020.
Volumes, average sales prices and net profits for the payment
period were:
Sales volumes:
Oil (Bbl)
153,775
Natural gas (Mcf)
90,485
Total (BOE)
168,856
Average sales prices:
Oil (per Bbl)
$
53.22
Natural gas (per Mcf)
$
2.07
Gross proceeds:
Oil sales
$
8,183,261
Natural gas sales
186,996
Total gross proceeds
$
8,370,257
Costs:
Lease operating expenses
$
3,497,526
Production and property taxes
894,451
Development expenses
1,386,705
Total costs
$
5,778,682
Net proceeds
$
2,591,575
Percentage applicable to Trust’s Net
Profits Interest
80%
Net profits interest
$
2,073,260
Increase in cash reserve held by VOC
Brazos Energy Partners, L.P.
0
Total cash proceeds available for the
Trust
$
2,073,260
Provision for estimated Trust expenses
(203,260)
Net cash proceeds available for
distribution
$
1,870,000
This press release contains forward-looking statements. Although
VOC Brazos Energy Partners, L.P. has advised the Trust that VOC
Brazos Energy Partners, L.P. believes that the expectations
contained in this press release are reasonable, no assurances can
be given that such expectations will prove to be correct. The
announced distributable amount is based on the amount of cash
received or expected to be received by the Trustee from the
underlying properties on or prior to the record date with respect
to the quarter ended December 31, 2019. Any differences in actual
cash receipts by the Trust could affect this distributable amount.
Other important factors that could cause these statements to differ
materially include the actual results of drilling operations, risks
inherent in drilling and production of oil and gas properties, the
ability of commodity purchasers to make payment, and other risk
factors described in the Trust’s Form 10-K for the year ended
December 31, 2018 filed with the Securities and Exchange
Commission. Statements made in this press release are qualified by
the cautionary statements made in these risk factors. The Trust
does not intend, and assumes no obligation, to update any of the
statements included in this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20200116005768/en/
VOC Energy Trust The Bank of New York Mellon Trust Company,
N.A., as Trustee Mike Ulrich (512) 236-6599
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