Welcome to our dedicated page for North European Oil Royalty Trust news (Ticker: NRT), a resource for investors and traders seeking the latest updates and insights on North European Oil Royalty Trust stock.
North European Oil Royalty Trust (NRT), headquartered in Keene, New Hampshire, operates as a grantor trust. The Trust holds overriding royalty rights, covering gas and oil production in various concessions or leases in the Federal Republic of Germany. NRT's primary revenue source stems from its royalty rights on the sale of well gas, oil well gas, crude oil, condensate, and sulfur. These royalties are obtained through contracts with German subsidiaries of industry giants ExxonMobil Corp. and the Royal Dutch/Shell Group of companies.
The Trust's operations focus on collecting and distributing royalties to its unit holders. It receives various percentages of royalties based on the proceeds from sales of the products in the specified areas. The royalties are disbursed quarterly, typically in February, May, August, and November. For instance, in the third quarter of fiscal 2023, the Trust announced a distribution of $0.21 per unit, despite lower gas sales and prices contributing to a significant reduction compared to the same period in the previous year.
Recent developments highlight the challenges and fluctuations that the Trust faces. The scheduled maintenance shutdown of the Grossenkneten desulfurization plant and the volatile German Border Import gas Price (GBIP) have led to overpayments in royalties. These overpayments have significantly impacted the Trust's quarterly distributions, even leading to the absence of distributions in the fourth quarter of fiscal 2023.
Despite these challenges, the Trust remains financially resilient. The cumulative 12-month distribution for fiscal 2023 reached $3.00 per unit, an increase from the previous 12-month period. The Trust's management continues to navigate the complexities of gas and oil market fluctuations and regulatory changes.
For the latest updates, NRT regularly publishes its earnings reports and press releases. The Trust's governance includes transparency and communication, ensuring stakeholders are well-informed of financial conditions, royalty adjustments, and potential future distributions. Key contact information includes John R. Van Kirk, the Managing Director, who can be reached via telephone at (732) 741-4008 or email at jvankirk@neort.com. More detailed information is also available on the Trust's website: www.neort.com.
North European Oil Royalty Trust (NRT) reported significant growth in its financials for the second fiscal quarter of 2022, with total royalty income reaching $3,773,568, up 169.51% compared to $1,400,159 in Q2 2021. Net income also rose dramatically by 197.05% to $3,559,968.
The distribution per unit increased to $0.38, representing a 171.43% rise from last year. Despite increased expenses of 6.03% to $213,988, driven by higher trustee fees, the Trust's financial outlook remains positive due to rising gas prices.
The Trustees of North European Oil Royalty Trust (NRT) declared a quarterly distribution of $0.38 per unit for Q2 fiscal 2022, payable on May 25, 2022. This amount is 171.43% higher than the $0.14 distribution in Q2 fiscal 2021, driven by increased natural gas prices. Royalty income under the Mobil Sulfur Agreement rose to $70,618, up from $36,411 in the previous year. Despite lower gas sales of 3.605 Bcf compared to 4.354 Bcf in Q1 2021, higher prices led to strong royalty growth, with cumulative 12-month distributions now at $0.92 per unit.
North European Oil Royalty Trust (NRT) reported a significant increase in net income for the first quarter of fiscal 2022, reaching $2,351,819 compared to $111,842 in the previous year, marking a rise of 2,002.80%. Total royalty income surged by 798.44% to $2,546,539, bolstered by $59,517 in Mobil sulfur royalties. Distributions per unit increased by 525.00%, now at $0.25. Trust expenses rose by 13.56% to $194,957 due to increased consultancy and trustee fees. The declared distribution will be paid on February 23, 2022.
The Trustees of North European Oil Royalty Trust (NRT) announced a quarterly distribution of $0.25 per unit for Q1 fiscal 2022, payable on February 23, 2022. This marks a significant increase of 525% from $0.04 in Q1 fiscal 2021, driven by higher natural gas prices and sales, totaling $973,794 in positive royalty adjustments. Gas sales for the fourth quarter of 2021 increased by 27.41% year-over-year. The cumulative 12-month distribution is now $0.68, up 142.86% from $0.28 previously.
North European Oil Royalty Trust (NYSE-NRT) reported significant growth in its fourth quarter of fiscal 2021, with total royalty income reaching $1,437,950, a 312.48% increase compared to $348,614 in Q4 2020. Net income surged to $1,302,678, up 495.79% from $218,649 year-over-year. The Trust's fiscal year total royalty income was $4,602,410, a 13.64% rise, while net income increased 21.00% to $3,976,557. Distributions per unit also rose to $0.47, a 46.88% increase from $0.32 in the previous year.
The North European Oil Royalty Trust (NRT) has declared a quarterly distribution of $0.14 per unit for Q4 of fiscal 2021, payable on November 24, 2021. This marks a significant increase of 600%, or $0.12 higher, compared to $0.02 in Q4 2020. The rise is attributed to increased natural gas sales, with sales reaching 3.985 Bcf, a 25.08% increase year-over-year, and gas prices jumping 111.49%. The cumulative distribution for the fiscal year is $0.47, a 46.88% rise from $0.32 in 2020.
North European Oil Royalty Trust (NRT) reported a net income of $1,363,590 for Q3 fiscal 2021, reflecting a 6.69% increase from Q3 fiscal 2020. Total royalty income rose by 5.81% to $1,480,863, aided by higher gas prices and Mobil sulfur royalties amounting to $50,184. However, total royalty income for the first nine months decreased to $3,164,461, down 14.51% year-over-year. Trust expenses also decreased by 3.50% to $117,504. The distribution per unit increased by 36.36% to $0.15.
The Trustees of North European Oil Royalty Trust (NYSE:NRT) announced a quarterly distribution of $0.15 per unit for Q3 FY 2021, payable on August 25, 2021. This marks a 36.36% increase from $0.11 per unit in the same quarter of FY 2020. The distribution is primarily based on natural gas sales in Q2 2021. The total cumulative distribution over the last 12 months is $0.35 per unit, 23.91% lower than the previous $0.46 per unit. Key royalty income was derived from two agreements affecting gas sales and prices.
North European Oil Royalty Trust (NYSE-NRT) reported a net income of $1,198,447 for Q2 fiscal 2021, representing a 15.02% increase from $1,041,902 in Q2 fiscal 2020. Total royalty income rose by 9.75% to $1,400,159 amidst no prior period adjustments this year. Distribution per unit increased 27.27% to $0.14 from $0.11. However, total royalty income for the first half of fiscal 2021 fell 26.86% to $1,683,598 compared to $2,301,789 in 2020 due to lower gas prices and sales.
The North European Oil Royalty Trust (NYSE-NRT) announced a quarterly distribution of $0.14 per unit for Q2 fiscal 2021, up 27.27% from $0.11 in Q2 2020. This increase is attributed to higher exchange rates, offsetting declines in gas sales and prices. Royalty income from the Trust's agreements showed a decrease in overall gas sales, with gas royalties totaling $921,896, down 2.57% from the previous year. The cumulative 12-month distribution is $0.31, 45.61% lower than prior distributions.
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