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Chesapeake Granite Wash Trust (CHKR) is an oil and natural gas trust created by Chesapeake Energy Corporation. The trust's primary mission is to hold royalty interests in certain specified oil and natural gas properties located in the Granite Wash Formation in the Anadarko Basin of Western Oklahoma. The trust receives income from the production and sale of oil, natural gas, and natural gas liquids (NGLs) from these properties.
Core Business: Chesapeake Granite Wash Trust's main business revolves around the extraction and sale of hydrocarbons. The trust's assets include overriding royalty interests and net profits interests in the targeted formations, ensuring a continuous stream of revenue from oil and gas production.
Recent Achievements and Projects: Recently, the trust has focused on optimizing production and maximizing the recovery of remaining hydrocarbons from its existing wells. Advances in drilling technology and enhanced recovery techniques have significantly contributed to stabilizing production levels, even in a challenging market environment.
Financial Condition: The trust's financial health is closely tied to the performance of the energy sector. Revenues fluctuate with market prices for oil, natural gas, and NGLs. However, the trust maintains a disciplined approach to managing expenses and optimizing operational efficiency to safeguard profitability.
Partnerships: The trust benefits from its operational partnership with Chesapeake Energy Corporation, which brings extensive expertise in exploration and production. This collaboration ensures that the trust leverages cutting-edge technology and industry best practices.
Products: The primary products of Chesapeake Granite Wash Trust include crude oil, natural gas, and natural gas liquids (NGLs). These hydrocarbons are sold to various customers, including refineries and gas processing plants.
Chesapeake Granite Wash Trust continues to play a vital role in the energy landscape by effectively managing its resources and delivering value to its stakeholders.
Chesapeake Granite Wash Trust (CHKR) has announced a quarterly distribution of $0.0109 per common unit for Q4 2024, payable on March 3, 2025 to unitholders of record as of February 19, 2025. The distribution covers production from September through November 2024.
Production volumes for the period included 8 mbbl of oil, 215 mmcf of natural gas, and 19 mbbl of natural gas liquids, totaling 63 mboe. Average prices received were $68.40 per oil barrel, $1.16 per natural gas mcf, and $31.14 per natural gas liquids barrel.
The Trust's distributable income calculation shows revenue less production taxes of $1,328,000, with administrative expenses of $721,000 and $99,000 withheld for cash reserves. As of December 31, 2024, $2,055,828 has been withheld to increase cash reserves toward a total target of approximately $3,200,000.
Chesapeake Granite Wash Trust (CHKR) has announced a distribution of $0.0267 per common unit for Q3 2024, payable on November 29, 2024. The distribution covers production from June through August 2024, with sales volumes of 9 mbbl oil, 204 mmcf natural gas, and 19 mbbl natural gas liquids. Average prices received were $75.38 for oil, $1.35 for natural gas, and $34.96 for natural gas liquids. The Trust's distributable income reached $1,247,000 after deducting $121,000 in administrative expenses and withholding $99,000 for cash reserves. As of September 30, 2024, $1,957,078 has been withheld to increase cash reserves.
Chesapeake Granite Wash Trust (OTC: CHKR) has announced a distribution of $0.0202 per common unit for the quarter ended June 30, 2024. This distribution, primarily related to production from March 1 to May 31, 2024, will be paid on August 29, 2024 to unitholders of record as of August 19, 2024. The Trust's revenue less production taxes for the period was $1,623,000, with administrative expenses of $578,000. After withholding $99,000 to increase cash reserves, the distributable income available to unitholders is $946,000. The Trust owns royalty interests in oil and natural gas properties in the Colony Granite Wash play in Washita County, Oklahoma.
Chesapeake Granite Wash Trust announced an additional common unit distribution of $0.0087 per unit for the quarter ended March 31, 2024, totaling $0.0185. The distribution is due to lower trust administrative expenses and amendments in distributable income calculation. The payment will be made on May 30, 2024, to unitholders of record as of May 20, 2024. The Trust owns royalty interests in oil and gas properties in Oklahoma.
Chesapeake Granite Wash Trust (OTC: CHKR) announced a common unit distribution of $0.0098 for the quarter ended March 31, 2024, payable on May 30, 2024. The Trust's royalty interests generated revenue of $1,154 thousand, resulting in a distributable income of $460 thousand. The distribution is based on sales volumes of 10 mbbl of oil, 229 mmcf of natural gas, and 18 mbbl of natural gas liquids, with an average price received per unit. The Trust owns royalty interests in the Colony Granite Wash play in Oklahoma, with fluctuating revenues based on production sales and prices.
Chesapeake Granite Wash Trust (CHKR) announced a common unit distribution of $0.0757 for the quarter ended December 31, 2022. This distribution, based on production from September 1, 2022 to November 30, 2022, will be paid on March 1, 2023 to unitholders of record by February 20, 2023. The Trust reported total oil equivalent volumes of 107 mboe, comprising 12 mbbl of oil, 369 mmcf of natural gas, and 33 mbbl of natural gas liquids. Revenue less production taxes was $3,701,000, with a distributable income of $3,537,000.
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