VOC Energy Trust Reports Strong Quarterly Distribution
HOUSTON-- VOC Energy Trust (NYSE:VOC) proudly announces its distribution of net profits for the latest quarterly payment period ending on September 30. The Trust has declared a distribution amounting to an impressive $3,060,000, translating to $0.18 per unit.
Distribution Details for Unitholders
Unitholders who are on record as of the upcoming cutoff date will benefit directly from this distribution. Payments are set to be made on November 14, marking a significant moment for the Trust's stakeholders.
Key Financial Metrics for the Quarter
Throughout the payment period, VOC Energy Trust has generated remarkable sales volumes, average sales prices, and net profits. Below are the notable figures:
Sales Volumes
For the quarter, oil sales accounted for a robust 113,737 barrels (Bbl), while natural gas sales contributed 65,152 thousand cubic feet (Mcf). The total production equated to 124,596 barrels of oil equivalent (BOE).
Average Sales Prices
The average sales prices were equally noteworthy, with oil priced at $75.35 per barrel and natural gas at $2.71 per Mcf. These prices reflect the ongoing strength in the commodities market.
Gross Proceeds from Sales
The Trust achieved substantial gross proceeds, totaling $8,746,955 comprising $8,570,477 from oil sales and an additional $176,478 from natural gas sales. Such figures highlight the Trust's healthy revenue generation capabilities in the current economic landscape.
Operational Costs and Financial Performance
In terms of operational expenses, the Trust reported lease operating expenses of $3,548,505, together with production and property taxes amounting to $197,734 and development expenses of $947,562. This brought total operational costs to $4,693,801.
Net Cash Proceeds
After accounting for all costs, net proceeds available to the Trust amount to $4,053,154, reflecting a robust cash position. The percentage applicable to the Trust's net profits interest was a commendable 80%, demonstrating the Trust's efficiency in maximizing returns for its stakeholders.
Vision for the Future
VOC Brazos Energy Partners, L.P., aligned with VOC Energy Trust, holds an optimistic outlook regarding future cash reserves. Despite an increase in cash reserve being noted as zero, the long-term projections remain favorable given the current operational profitability and the strategic planning in place.
Conclusion
The conclusion of this quarter exemplifies VOC's commitment to its unitholders while reinforcing the Trust's position in the energy sector. As VOC Energy Trust advances, stakeholders can look forward to continued growth and the potential for attractive distributions in forthcoming quarters.
Frequently Asked Questions
What is the distribution amount for VOC Energy Trust?
The distribution amount is $3,060,000, which equates to $0.18 per unit for unitholders.
When will the distribution be paid?
The distribution payment will be made on November 14, following the record date of October 30.
What are the key sales volumes for the quarter?
Key sales volumes include 113,737 Bbl of oil and 65,152 Mcf of natural gas, totaling 124,596 BOE.
What were the average sales prices for oil and gas?
The average sales prices were $75.35 per barrel for oil and $2.71 per Mcf for natural gas.
What are the total costs reported by the Trust?
Total costs reported by the Trust for this period were $4,693,801.
