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VOC Energy Trust Announces Trust Quarterly Distribution

January 16, 2020 GMT

HOUSTON--(BUSINESS WIRE)--Jan 16, 2020--

VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net profits for the fourth quarterly payment period ended December 31, 2019.

Unitholders of record on January 30, 2020 will receive a distribution amounting to $1,870,000 or $0.11 per unit, payable February 14, 2020.

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

Sales volumes:

 

Oil (Bbl)

153,775

Natural gas (Mcf)

90,485

Total (BOE)

168,856

Average sales prices:

 

Oil (per Bbl)

$

53.22

Natural gas (per Mcf)

$

2.07

Gross proceeds:

 

 

Oil sales

$

8,183,261

Natural gas sales

 

186,996

Total gross proceeds

$

8,370,257

Costs:

 

 

Lease operating expenses

$

3,497,526

Production and property taxes

 

894,451

Development expenses

 

1,386,705

Total costs

$

5,778,682

Net proceeds

$

2,591,575

Percentage applicable to Trust’s Net Profits Interest

80%

Net profits interest

$

2,073,260

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

 

0

Total cash proceeds available for the Trust

$

2,073,260

Provision for estimated Trust expenses

 

(203,260)

Net cash proceeds available for distribution

$

1,870,000

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 December 31, 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200116005768/en/

CONTACT: VOC Energy Trust

The Bank of New York Mellon Trust Company, N.A., as Trustee

Mike Ulrich

(512) 236-6599

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: OIL/GAS ENERGY

SOURCE: VOC Energy Trust

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PUB: 01/16/2020 04:05 PM/DISC: 01/16/2020 04:05 PM

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