VOC Energy Trust Announces Trust Quarterly Distribution
July 19 2018 - 4:05PM
Business Wire
VOC Energy Trust (NYSE: VOC) announced the Trust distribution of
net profits for the second quarterly payment period ended June 30,
2018.
Unitholders of record on July 30, 2018 will receive a
distribution amounting to $3,400,000 or $0.20 per unit, payable
August 14, 2018.
Volumes, average sales prices and net profits for the payment
period were:
Sales volumes: Oil (Bbl) 132,705 Natural gas (Mcf) 80,036
Total (BOE) 146,044 Average sales prices: Oil (per Bbl) $ 62.84
Natural gas (per Mcf) $ 3.31 Gross proceeds: Oil sales $ 8,338,594
Natural gas sales 264,969 Total gross proceeds $
8,603,563 Costs: Lease operating expenses $ 2,993,076 Production
and property taxes 675,789 Development expenses 338,853
Total costs $ 4,007,718 Net proceeds $ 4,595,845
Percentage applicable to Trust’s Net Profits Interest 80 %
Net profits interest $ 3,676,676 Increase in cash reserve held by
VOC Brazos Energy Partners, L.P. 0 Total cash
proceeds available for the Trust $ 3,676,676 Provision for
estimated Trust expenses (276,676 ) Net cash proceeds
available for distribution $ 3,400,000
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 June 30, 2018. 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, 2017 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/20180719005478/en/
VOC Energy TrustThe Bank of New York Mellon Trust Company,
N.A., as TrusteeMike Ulrich, 512-236-6599
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