VOC Energy Trust Declares Quarterly Distribution
VOC Energy Trust (NYSE: VOC) has announced its latest quarterly distribution reflecting net profits for the period that wrapped up recently. This declared distribution is a testament to the Trust’s ongoing commitment to its unitholders.
Distribution Details for Unitholders
Unitholders on record will receive a notable distribution amounting to $1,445,000, which translates to $0.085 per unit. This amount is scheduled to be paid out soon, continuing the Trust's trend of rewarding its investors.
Profit Breakdown for the Quarter
The financial performance for this distribution period has shown significant figures including:
- Sales volume for oil reached 109,158 barrels.
- Natural gas sales totaled 66,598 Mcf.
- The total barrels of oil equivalent achieved 120,258.
Average Sales Prices Overview
In terms of sales prices, oil was sold at an average of $67.71 per barrel, while natural gas fetched $2.57 per Mcf. These figures indicate strong pricing which positively influences the Trust’s financial health.
Gross Proceeds and Costs Analysis
Moving onto the fiscal calculations, VOC Energy Trust generated gross proceeds from various sales. The breakdown was:
- Oil sales: $7,390,709
- Natural gas sales: $170,909
- Total gross proceeds were recorded at $7,561,618.
Understanding Costs Impacting Net Proceeds
The operational costs associated with the Trust amounted to $5,188,093, which includes lease operating expenses, taxes, and development costs. Such expenditures are vital to maintaining operational integrity and ensuring the sustainability of the Trust's operations.
Net Proceeds and What They Mean for Unitholders
Ultimately, after accounting for costs, the net proceeds available for distribution stand at an impressive $2,373,525. With an estimated distribution being proposed, unitholders can expect robust returns during this period.
Looking Ahead at Projections
The amount being distributed this quarter heavily relies on cash that the Trustees expect to receive based on operational reports and other income streams. Although expectations are significant, factors such as market fluctuations and operational risks will still play roles in the actual figures.
Frequently Asked Questions
What is the total amount distributed to unitholders?
The total distribution amounts to $1,445,000, or $0.085 per unit.
When are the payments set to be made?
The distributions will be payable soon, following the announcement.
How has VOC Energy Trust performed financially?
Financial performance has shown positive results with significant gross proceeds from oil and gas sales.
What adjustments may affect the distribution amount?
Variations in actual cash receipts, operational costs, and market conditions can influence the final distribution amount.
What percentage is applicable to the Trust’s net profits interest?
The applicable percentage for the Trust's net profits interest is 80%.
