Dominion Resources Black Warrior Trust Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Reports Production Results for the Second Quarter Ended June 30, 2012
August 30, 2012
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Dominion Resources Black Warrior Trust reported unaudited earning results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported royalty income of $1,291,584 compared to royalty income of $2,077,474 for the same period a year ago. Interest income was $78 compared to $212 last year. Distributable income was $958,950, or $0.12 per unit compared to $1,800,703 or $0.23 per unit last year.
For the six months, the company reported royalty income of $3,026,946 compared to royalty income of $4,164,988 for the same period a year ago. Interest income was $136 compared to $425 last year. Distributable income was $2,401,883 or $0.31 per unit compared to $3,605,551 or $0.46 per unit last year.
The company reported production results for the second quarter ended June 30, 2012. For the second quarter, the company reported production of 505 MMcf and production of 501 MMMbtu.
Dominion Resources Black Warrior Trust is a business trust. The Trust acquires and holds certain overriding royalty interests (the Royalty Interests) burdening proved natural gas properties located in the Pottsville coal formation of the Black Warrior Basin, Tuscaloosa County, Alabama (the Underlying Properties) owned by Walter Black Warrior Basin LLC. All of the Underlying Properties consist of producing properties. The Royalty Interests are the assets of the Trust other than cash and temporary investments being held for the payment of expenses and liabilities and for distribution to the Unitholders. The Trust collects the proceeds attributable to the Royalty Interests entitling the holder thereof to approximately 65% of the Gross Proceeds derived from the Dominion Black Warrior Basin, Inc. (Company) Interests (the Company's interest in natural gas properties in which the Company has an interest located in Alabama), and makes cash distributions to Unitholders.
Dominion Resources Black Warrior Trust Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Reports Production Results for the Second Quarter Ended June 30, 2012