VOC Energy : Announces Trust Quarterly Distribution
January 19, 2016 at 08:27 pm
Share
VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net
profits for the fourth quarterly payment period ended December 31, 2015.
Unitholders of record on February 1, 2016 will receive a distribution
amounting to $765,000 or $0.045 per unit, payable February 12, 2016.
Volumes, average sales prices and net profits for the payment period
were:
Sales volumes:
Oil (Bbl)
144,421
Natural gas (Mcf)
96,621
Total (BOE)
160,525
Average sales prices:
Oil (per Bbl)
$
40.53
Natural gas (per Mcf)
$
2.06
Gross proceeds:
Oil sales
$
5,853,322
Natural gas sales
198,874
Total gross proceeds
$
6,052,196
Costs:
Lease operating expenses
$
3,077,735
Production and property taxes
1,012,942
Development expenses
716,720
Total costs
$
4,807,397
Net proceeds
$
1,244,799
Percentage applicable to Trust’s Net Profits Interest
80
%
Net profits interest
$
995,839
Increase in cash reserve held by VOC Brazos Energy Partners, L.P.
0
Total cash proceeds available for the Trust
$
995,839
Provision for estimated Trust expenses
(230,839
)
Net cash proceeds available for distribution
$
765,000
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, 2015. 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, 2014 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: http://www.businesswire.com/news/home/20160119006759/en/
VOC Energy Trust (the Trust) is a statutory trust formed by VOC Brazos Energy Partners, L.P. (VOC Brazos). The Trust is managed by The Bank of New York Mellon Trust Company, N.A., as trustee (the Trustee). The Trust is created to acquire and hold the net profits interest for the benefit of the trust unitholders. VOC Brazoâs properties included interests in approximately 739 gross (454.6 net) producing wells and included 81,095 gross (50,310.7 net) acres. The underlying properties are interests in developing properties located in the oil and natural gas producing regions of Kansas and Texas. The fields in the Central Kansas Uplift include Fairport Field, Marcotte Field and Chase-Silica Field. The fields in Western Kansas include the Bindley, Griston SW and Rosa Northwest fields. The fields in South Central Kansas include the Gerberding, Spivey Grabs and Alford fields, which are produced primarily from the Mississippian, Simpson and Lansing Kansas City zones.