VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net
profits for the fourth quarterly payment period ended December 31, 2017.
Unitholders of record on April 30, 2018 will receive a distribution
amounting to $3,060,000 or $0.18 per unit, payable May 15, 2018.
Volumes, average sales prices and net profits for the payment period
were:
|
Sales volumes:
|
|
|
|
|
Oil (Bbl)
|
|
|
|
128,000
|
|
|
Natural gas (Mcf)
|
|
|
|
82,681
|
|
|
Total (BOE)
|
|
|
|
141,780
|
|
|
Average sales prices:
|
|
|
|
|
Oil (per Bbl)
|
|
|
$
|
58.46
|
|
|
Natural gas (per Mcf)
|
|
|
$
|
3.35
|
|
|
Gross proceeds:
|
|
|
|
|
Oil sales
|
|
|
$
|
7,482,816
|
|
|
Natural gas sales
|
|
|
|
276,685
|
|
|
Total gross proceeds
|
|
|
$
|
7,759,501
|
|
|
Costs:
|
|
|
|
|
Lease operating expenses
|
|
|
$
|
3,085,442
|
|
|
Production and property taxes
|
|
|
|
206,039
|
|
|
Development expenses
|
|
|
|
362,442
|
|
|
Total costs
|
|
|
$
|
3,653,923
|
|
|
Net proceeds
|
|
|
$
|
4,105,578
|
|
|
Percentage applicable to Trust’s Net Profits Interest
|
|
|
|
80
|
%
|
|
Net profits interest
|
|
|
$
|
3,284,462
|
|
|
Increase in cash reserve held by VOC Brazos Energy Partners, L.P.
|
|
|
|
0
|
|
|
Total cash proceeds available for the Trust
|
|
|
$
|
3,284,462
|
|
|
Provision for estimated Trust expenses
|
|
|
|
(224,462
|
)
|
|
Net cash proceeds available for distribution
|
|
|
$
|
3,060,000
|
|
|
|
|
|
|
|
|
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 March 31, 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180419005142/en/
Copyright Business Wire 2018
Source: Business Wire
(April 19, 2018 - 4:15 PM EDT)
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