UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 18, 2024
Mesa Royalty Trust
(Exact name of registrant as specified in its
charter)
| Texas |
|
1-7884 |
|
76-6284806 |
| (State or other jurisdiction of |
|
(Commission |
|
(IRS Employer |
| incorporation ) |
|
File Number) |
|
Identification No.) |
| The Bank of New York Mellon Trust Company, N.A., Trustee |
|
|
| Global Corporate Trust |
|
|
| 601 Travis Street, Floor 16 |
|
|
| Houston, Texas |
|
77002 |
| (Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (713) 483-6020
Not Applicable
(Former name or former address, if changed since
last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
| Units of Beneficial Interest |
|
MTR |
|
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
Item 2.02 Results of Operations and Financial Condition.
On December 18, 2024 Mesa Royalty Trust issued
a press release announcing Mesa Royalty Trust’s royalty income and income distribution for the month of December 2024. A copy
of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
Pursuant to General Instruction B.2 of Form 8-K
and Securities and Exchange Commission Release No. 33-8176, the press release attached as Exhibit 99.1 is not “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section
and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, but is instead furnished for
purposes of that instruction.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| |
Mesa Royalty Trust |
| |
|
| |
By: |
The Bank of New York Mellon Trust Company, N.A., as Trustee |
| |
|
|
| Date: December 18, 2024 |
By: |
/s/ Elaina Rodgers |
| |
|
Elaina Rodgers |
| |
|
Vice President |
Exhibit 99.1
Mesa-Royalty-Trust
Mesa Royalty Trust Announces Trust Income for December 2024
MESA ROYALTY TRUST
The Bank of New York Mellon Trust Company, N.A., Trustee
NEWS RELEASE
FOR IMMEDIATE RELEASE
HOUSTON, TEXAS — December 18, 2024 — Mesa Royalty
Trust (the “Trust”) (NYSE symbol-MTR) announced today the Trust income distribution for the month of December 2024.
Unitholders of record on December 31, 2024 will receive distributions amounting to $0.022423076 per unit, payable on January 31,
2025. The Trust received $47,632, all of which came from the New Mexico portion of the Trust’s San Juan Basin properties operated
by Hilcorp San Juan LP, an affiliate of Hilcorp Energy Company. No income was received in December 2024 from any other working interest
owner. This month, after the Trust’s payment of administrative expenses, income from the distributable net profits was $41,787.
The Trust was formed to own an overriding royalty interest of the
net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields
of New Mexico and Colorado. As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate
from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and
the amount of the Trust’s administrative expenses, among other factors. In addition, as further described in the Trust’s
most recent filing on Form 10-Q, distributions to unitholders are expected to be materially reduced, until the Trust increases its
cash reserves to a total of $2.0 million in order to provide added liquidity.
Proceeds reported by the working interest owners for any month are
not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s
Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated
excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount
of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been
and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the
Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which
will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances
can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control
historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the
related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical
or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these
statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production
of oil and gas properties, declines in commodity pricing, prices received by working interest owners and other risks described in the
Trust’s Form 10-K for the year ended December 31, 2023. Statements made in this press release are qualified by the cautionary
statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included
in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.
| Contact: |
Mesa Royalty Trust |
| |
The Bank of New York Mellon Trust Company, N.A., as Trustee |
| |
Elaina Rodgers |
| |
713-483-6020 |
http://mtr.q4web.com/home/default.aspx
601 Travis Street, Floor 16, Houston, TX 77002
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