VOC Energy Trust Announces Trust Quarterly Distribution

VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net profits for the first quarterly payment period ended March 31, 2021.

Unitholders of record on April 30, 2021 will receive a distribution amounting to $2,040,000 or $0.12 per unit, payable May 14, 2021.

Volumes, average sales prices and net profits for the payment period were:

Sales volumes:

Oil (Bbl)

121,019

Natural gas (Mcf)

89,151

Total (BOE)

135,878

Average sales prices:

Oil (per Bbl)

$

48.53

Natural gas (per Mcf)

$

2.81

Gross proceeds:

Oil sales

$

5,872,798

Natural gas sales

250,209

Total gross proceeds

$

6,123,007

Costs:

Lease operating expenses

$

2,803,042

Production and property taxes

120,097

Development expenses

283,643

Total costs

$

3,206,782

Net proceeds

$

2,916,225

Percentage applicable to Trust’s Net Profits Interest

80

%

Net profits interest

$

2,332,980

Increase in cash reserve held by VOC Brazos Energy Partners, L.P.

0

Total cash proceeds available for the Trust

$

2,332,980

Provision for estimated Trust expenses

(292,980

)

Net cash proceeds available for distribution

$

2,040,000

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, 2021. 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, the effect, impact, potential duration or other implications of the COVID-19 pandemic, actions by the members of the Organization of Petroleum Exporting Countries, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020 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 obligations, to update any of the statements included in this press release.

Contacts:

VOC Energy Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
(713) 483-6020

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.