BP Prudhoe Bay Royalty Trust Announces No Unit Payment for the Third Quarter of 2024
BP Prudhoe Bay Royalty Trust (NYSE: BPT) has announced that unitholders will not receive a dividend payment for the quarter ended September 30, 2024. This decision is based on the calculation of the Per Barrel Royalty, which resulted in a negative value for the payment calculation for the quarter. Key factors influencing this outcome include:
- Average WTI Price: $75.20
- Average Adjusted Chargeable Costs: $90.90
- Average Production Taxes: $2.61
- Average Per Barrel Royalty: $(18.31)
- Average Net Production: 59.6 mb/d
The average daily closing WTI price was below the 'break-even' price for the quarter. However, as stipulated in the Trust Agreement, the payment with respect to the Royalty Interest for any calendar quarter cannot be less than zero.
BP Prudhoe Bay Royalty Trust (NYSE: BPT) ha annunciato che gli azionisti non riceveranno un pagamento di dividendo per il trimestre concluso il 30 settembre 2024. Questa decisione si basa sul calcolo della Royalty per Barile, che ha portato a un valore negativo per il calcolo del pagamento per il trimestre. I principali fattori che influenzano questo risultato includono:
- Prezzo medio WTI: $75.20
- Costi medi aggiustati a carico: $90.90
- Tasse sulla produzione medi: $2.61
- Royalty media per barile: $(18.31)
- Produzione netta media: 59.6 mb/d
Il prezzo medio di chiusura giornaliero del WTI è stato al di sotto del prezzo di 'break-even' per il trimestre. Tuttavia, come stabilito nell'Accordo di Fiducia, il pagamento relativo all'Interesse Royalty per qualsiasi trimestre non può essere inferiore a zero.
BP Prudhoe Bay Royalty Trust (NYSE: BPT) ha anunciado que los tenedores de unidades no recibirán un pago de dividendo para el trimestre que finalizó el 30 de septiembre de 2024. Esta decisión se basa en el cálculo de la Regalía por Barril, que resultó en un valor negativo para el cálculo del pago del trimestre. Los principales factores que influyen en este resultado incluyen:
- Precio promedio WTI: $75.20
- Costos ajustados promedio cobrables: $90.90
- Impuestos sobre producción promedio: $2.61
- Regalía promedio por barril: $(18.31)
- Producción neta promedio: 59.6 mb/d
El precio promedio diario de cierre del WTI estuvo por debajo del precio de 'break-even' para el trimestre. No obstante, como se estipula en el Acuerdo de Fideicomiso, el pago con respecto al Interés de Regalía para cualquier trimestre calendario no puede ser inferior a cero.
BP 프루도 베이 로열티 트러스트(NYSE: BPT)는 2024년 9월 30일 종료된 분기 동안 단위 보유자들에게 배당금 지급이 없음을 발표했습니다. 이 결정은 배럴당 로열티 계산을 기반으로 하며, 분기 지급 계산에서 부정적인 값으로 나타났습니다. 이 결과에 영향을 미치는 주요 요소는 다음과 같습니다:
- 평균 WTI 가격: $75.20
- 조정 가능한 평균 비용: $90.90
- 평균 생산세: $2.61
- 평균 배럴당 로열티: $(18.31)
- 평균 순 생산량: 59.6 mb/d
평균 일일 WTI 종가는 분기의 '손익 분기점' 가격 이하였습니다. 그러나 신탁 계약에 명시된 바와 같이, 어떤 달력 분기에 대한 로열티 이자 지급은 0 이하일 수 없습니다.
Le BP Prudhoe Bay Royalty Trust (NYSE: BPT) a annoncé que les détenteurs d'unités ne recevront pas de paiement de dividende pour le trimestre terminé le 30 septembre 2024. Cette décision est basée sur le calcul de la redevance par baril, qui a abouti à une valeur négative pour le calcul du paiement pour le trimestre. Les principaux facteurs influençant ce résultat comprennent :
- Prix moyen WTI : $75.20
- Coûts ajustés moyens à facturer : $90.90
- Taxes de production moyennes : $2.61
- Redevance moyenne par baril : $(18.31)
- Production nette moyenne : 59.6 mb/d
Le prix moyen de clôture quotidien du WTI était inférieur au prix de 'break-even' pour le trimestre. Cependant, comme stipulé dans le contrat de fiducie, le paiement concernant l'intérêt de redevance pour tout trimestre calendaire ne peut être inférieur à zéro.
Der BP Prudhoe Bay Royalty Trust (NYSE: BPT) hat angekündigt, dass die Unitholder für das am 30. September 2024 endende Quartal keine Dividendenzahlung erhalten werden. Diese Entscheidung basiert auf der Berechnung der Royalty pro Barrel, die zu einem negativen Wert für die Zahlungsberechnung des Quartals führte. Wichtige Faktoren, die dieses Ergebnis beeinflussen, sind:
- Durchschnittlicher WTI-Preis: $75.20
- Durchschnittlich anpassbare Kosten: $90.90
- Durchschnittliche Produktionssteuern: $2.61
- Durchschnittliche Royalty pro Barrel: $(18.31)
- Durchschnittliche Nettoproduktion: 59.6 mb/d
Der durchschnittliche tägliche Schlusskurs des WTI lag unter dem 'Break-even'-Preis für das Quartal. Allerdings darf, wie im Treuhandvertrag festgelegt, die Zahlung in Bezug auf das Royalty-Interesse für ein Kalendervierteljahr nicht unter null liegen.
- None.
- No dividend payment for Q3 2024
- Negative Per Barrel Royalty of $(18.31)
- Average WTI Price ($75.20) below break-even point
- Chargeable Costs ($90.90) exceed WTI Price
Ex-Dividend Date: |
October 14, 2024 |
Record Date: |
October 15, 2024 |
Payable Date: |
None |
Dividend Rate: |
|
As provided in the Trust Agreement, the quarterly royalty payment by Hilcorp North Slope, LLC to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter. The amount of revenue is determined by multiplying Royalty Production for each day in the calendar quarter by the Per Barrel Royalty for that day. Pursuant to the Trust Agreement, the Per Barrel Royalty for any day is the WTI Price for the day less the sum of (i) Chargeable Costs multiplied by the Cost Adjustment Factor and (ii) Production Taxes.
For the three months ended September 30, 2024, the Per Barrel Royalty was calculated based on the following information:
Average WTI Price |
$ |
75.20 |
|
Average Adjusted Chargeable Costs |
$ |
90.90 |
|
Average Production Taxes |
$ |
2.61 |
|
Average Per Barrel Royalty |
$ |
(18.31 |
) |
Average Net Production (mb/d) |
|
59.6 |
|
The average daily closing WTI price was below the “break-even” price for the quarter, resulting in a negative value for the payment calculation for the quarter. However, as provided in the Trust Agreement, the payment with respect to the Royalty Interest for any calendar quarter may not be less than zero.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release are subject to a number of risks and uncertainties beyond the control of the Trustee. The actual results, performance and prospects of the Trust could differ materially from those expressed or implied by forward-looking statements. Descriptions of some of the risks that could affect the future performance of the Trust appear in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2023, the Trust’s subsequent Quarterly Reports on Form 10-Q, and the Trust’s other filings with the Securities and Exchange Commission (the “SEC”). The Trust’s annual, quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov. The Trustee undertakes no obligation to update forward-looking statements after the date of this report, except as required by law, and all such forward-looking statements in this report are qualified in their entirety by the preceding cautionary statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241004071503/en/
Elaina Rodgers
Vice President
The Bank of New York Mellon Trust Company, N.A.
713-483-6020
Source: BP Prudhoe Bay Royalty Trust
FAQ
Why is BP Prudhoe Bay Royalty Trust (BPT) not paying a dividend for Q3 2024?
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What are the key factors affecting BP Prudhoe Bay Royalty Trust's (BPT) dividend payment for Q3 2024?
