VOC Energy Trust Announces Trust Quarterly Distribution
July 18 2019 - 4:15PM
Business Wire
VOC Energy Trust (NYSE: VOC) announced the Trust distribution of
net profits for the second quarterly payment period ended June 30,
2019.
Unitholders of record on July 30, 2019 will receive a
distribution amounting to $3,485,000 or $0.205 per unit, payable
August 14, 2019.
Volumes, average sales prices and net profits for the payment
period were:
Sales volumes:
Oil (Bbl)
148,496
Natural gas (Mcf)
78,786
Total (BOE)
161,627
Average sales prices:
Oil (per Bbl)
$
58.63
Natural gas (per Mcf)
$
2.83
Gross proceeds:
Oil sales
$
8,705,923
Natural gas sales
223,269
Total gross proceeds
$
8,929,192
Costs:
Lease operating expenses
$
3,170,157
Production and property taxes
550,970
Development expenses
518,623
Total costs
$
4,239,750
Net proceeds
$
4,689,442
Percentage applicable to Trust’s Net
Profits Interest
80%
Net profits interest
$
3,751,554
Increase in cash reserve held by VOC
Brazos Energy Partners, L.P.
0
Total cash proceeds available for the
Trust
$
3,751,554
Provision for estimated Trust expenses
(266,554)
Net cash proceeds available for
distribution
$
3,485,000
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, 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/20190718005399/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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