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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

VOC Energy Trust Announces Trust Quarterly Distribution

July 20, 2021 GMT

HOUSTON--(BUSINESS WIRE)--Jul 20, 2021--

VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net profits for the second quarterly payment period ended June 30, 2021.

Unitholders of record on July 30, 2021 will receive a distribution amounting to $2,720,000 or $0.16 per unit, payable August 13, 2021.

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

Sales volumes:

 

 

 

Oil (Bbl)

 

128,814

 

Natural gas (Mcf)

 

78,734

 

Total (BOE)

 

141,936

 

Average sales prices:

 

 

 

Oil (per Bbl)

 

$

59.62

 

Natural gas (per Mcf)

 

$

3.29

 

Gross proceeds:

 

 

 

 

Oil sales

 

$

7,679,568

 

Natural gas sales

 

 

258,788

 

Total gross proceeds

 

$

7,938,356

 

Costs:

 

 

 

Lease operating expenses

 

$

3,069,270

 

Production and property taxes

 

 

608,076

 

Development expenses

 

 

706,669

 

Total costs

 

$

4,384,015

 

Net proceeds

 

$

3,554,341

 

Percentage applicable to Trust’s Net Profits Interest

 

80%

 

Net profits interest

 

$

2,843,473

 

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

 

 

0

 

Total cash proceeds available for the Trust

 

$

2,843,473

 

Provision for estimated Trust expenses

 

 

123,473

 

Net cash proceeds available for distribution

 

$

2,720,000

 

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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, 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210720006103/en/

CONTACT: VOC Energy Trust

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

Elaina Rodgers

(713) 483-6020

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: OIL/GAS ENERGY

SOURCE: VOC Energy Trust

Copyright Business Wire 2021.

PUB: 07/20/2021 04:30 PM/DISC: 07/20/2021 04:31 PM

http://www.businesswire.com/news/home/20210720006103/en