Mesa Royalty Trust Announces There Will Be No Distribution for August 2024
Mesa Royalty Trust (NYSE: MTR) announced no distribution for August 2024 to holders of record on August 30, 2024. This decision was made as costs, charges, and expenses related to the Trust's royalty properties exceeded the revenue from oil, natural gas, and other hydrocarbons produced from these properties. The Trust owns an overriding royalty interest in producing oil and gas properties in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado.
Monthly distributions are expected to fluctuate based on production proceeds, oil and gas prices, and administrative expenses. Distributions to unitholders are anticipated to be materially reduced until the Trust increases its cash reserves to $2.0 million for added liquidity. The Trust's ability to pay distributions has been and will continue to be affected by industry volatility, revenues, and expenses reported by working interest owners.
Mesa Royalty Trust (NYSE: MTR) ha annunciato nessuna distribuzione per agosto 2024 ai detentori registrati il 30 agosto 2024. Questa decisione è stata presa poiché i costi, le spese e le spese associate alle proprietà royalty del Trust hanno superato le entrate provenienti da petrolio, gas naturale e altri idrocarburi prodotti da queste proprietà. Il Trust possiede un interesse royalty predominante nelle proprietà di produzione di petrolio e gas nel campo di Hugoton in Kansas e nei campi della San Juan Basin in New Mexico e Colorado.
Le distribuzioni mensili si prevede che fluttuino in base ai proventi della produzione, ai prezzi di petrolio e gas, e alle spese amministrative. Le distribuzioni ai possessori di unità sono attese per essere significativamente ridotte fino a quando il Trust non aumenterà le sue riserve di liquidità a $2,0 milioni. La capacità del Trust di effettuare distribuzioni è stata e continuerà a essere influenzata dalla volatilità del settore, dai ricavi e dalle spese riportate dai proprietari degli interessi lavorativi.
Mesa Royalty Trust (NYSE: MTR) anunció sin distribución para agosto de 2024 para los tenedores registrados a partir del 30 de agosto de 2024. Esta decisión se tomó ya que los costos, cargos y gastos relacionados con las propiedades de regalías del Trust superaron los ingresos del petróleo, gas natural y otros hidrocarburos producidos de estas propiedades. El Trust posee un interés de regalía dominante en propiedades de producción de petróleo y gas en el campo de Hugoton en Kansas y los campos de la cuenca de San Juan en Nuevo México y Colorado.
Se espera que las distribuciones mensuales fluctúen en función de los ingresos de producción, precios de petróleo y gas, y gastos administrativos. Las distribuciones a los unitholders se anticipan que sean materialmente reducidas hasta que el Trust aumente sus reservas de efectivo a $2,0 millones para mayor liquidez. La capacidad del Trust para pagar distribuciones ha sido y seguirá siendo afectada por la volatilidad de la industria, ingresos y gastos informados por los propietarios de intereses de trabajo.
Mesa Royalty Trust (NYSE: MTR)는 2024년 8월 30일 기준으로 등록된 보유자에게 2024년 8월에는 배당금이 없다고 발표했습니다. 이 결정은 신탁의 로열티 자산과 관련된 비용, 수수료 및 지출이 이 자산에서 생산된 석유, 천연가스 및 기타 탄화수소의 수익을 초과했기 때문에 내려졌습니다. 신탁은 캔자스의 휴고톤 유전과 뉴멕시코 및 콜로라도의 샌후안 분지 유전에서 생산 중인 석유 및 가스 자산에 대한 우선 로열티 이익을 보유하고 있습니다.
월별 배당금은 생산 수익, 석유 및 가스 가격, 관리 비용에 따라 변동할 것이라고 예상됩니다. 유닛 보유자에 대한 배당금은 신탁이 유동성을 높이기 위해 현금 보유액을 200만 달러로 늘릴 때까지 상당히 줄어들 것으로 예상됩니다. 신탁의 배당금 지급 능력은 산업의 변동성, 수익 및 작업 관심 소유자에 의해 보고된 비용에 의해 영향을 받아왔으며 계속 영향을 받을 것입니다.
Mesa Royalty Trust (NYSE: MTR) a annoncé aucune distribution pour août 2024 pour les détenteurs enregistrés au 30 août 2024. Cette décision a été prise car les coûts, charges et dépenses liés aux propriétés de royalties du Trust ont dépassé les revenus provenant du pétrole, du gaz naturel et d'autres hydrocarbures produits de ces propriétés. Le Trust possède un intérêt en royalties dominant dans les propriétés de production de pétrole et de gaz situées dans le champ de Hugoton au Kansas et les champs de la cuvette de San Juan au Nouveau-Mexique et au Colorado.
Les distributions mensuelles devraient fluctuer en fonction des revenus de production, des prix de l'huile et du gaz, et des dépenses administratives. Les distributions aux détenteurs d'unités devraient être sensiblement réduites jusqu'à ce que le Trust augmente ses réserves de liquidités à 2,0 millions de dollars pour plus de liquidité. La capacité du Trust à effectuer des distributions a été et continuera d'être affectée par la volatilité du secteur, les revenus et les dépenses déclarées par les propriétaires d'intérêts productifs.
Mesa Royalty Trust (NYSE: MTR) hat keine Ausschüttung für August 2024 an die zum Stichtag am 30. August 2024 eingetragenen Inhaber angekündigt. Diese Entscheidung wurde getroffen, da die Kosten, Gebühren und Ausgaben im Zusammenhang mit den Royalty-Eigentümern des Trusts die Einnahmen aus Öl, Erdgas und anderen Kohlenwasserstoffen, die aus diesen Immobilien produziert wurden, überstiegen. Der Trust besitzt ein überragendes Royalty-Interesse an Produktionsöl- und gasfeldern im Hugoton-Feld in Kansas und den San Juan Basin-Feldern in New Mexico und Colorado.
Monatliche Ausschüttungen werden voraussichtlich schwanken, abhängig von den Produktionserlösen, den Preisen für Öl und Gas sowie den Verwaltungskosten. Die Ausschüttungen an die Unitholder werden voraussichtlich deutlich reduziert, bis der Trust seine Barreserven auf 2,0 Millionen Dollar erhöht, um zusätzliche Liquidität zu schaffen. Die Fähigkeit des Trusts, Ausschüttungen zu zahlen, wurde und wird weiterhin von der Volatilität der Branche, den Einnahmen und den von den Working Interest-Eigentümern gemeldeten Ausgaben beeinflusst.
- None.
- No distribution for August 2024 due to costs exceeding revenue
- Distributions expected to be materially reduced until cash reserves reach $2.0 million
- Substantial accumulated excess production costs decreasing Trust distributions
- Volatility in the industry affecting Trust's ability to pay distributions
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the
Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, prices received by working interest owners and other risks described in the Trust’s Form 10-K for the year ended December 31, 2023. Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.
http://mtr.q4web.com/home/default.aspx
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Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
Source: Mesa Royalty Trust
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