VOC Energy Trust Announces Trust Quarterly Distribution

Rhea-AI Summary

VOC Energy Trust (NYSE: VOC) announced a distribution of net profits for the quarterly period ending September 30, 2021. Unitholders of record on November 1, 2021, will receive a total distribution of $3,400,000 or $0.20 per unit, payable on November 12, 2021. Key performance metrics include sales volumes of 141,750 barrels of oil and 88,288 Mcf of natural gas, generating gross proceeds of approximately $9,875,427. The Trust's net cash proceeds available for distribution amount to $3,400,000 after accounting for estimated expenses.

Positive

• Distribution of $3,400,000 or $0.20 per unit to unitholders.
• Sales volumes of 141,750 barrels of oil and 88,288 Mcf of natural gas.
• Gross proceeds of $9,875,427 show strong revenue generation.
• Net cash proceeds available for distribution total $3,400,000.

Negative

• No cash reserves were increased by VOC Brazos Energy Partners, L.P.
• Forward-looking statements include risks inherent in drilling and production operations.

HOUSTON--(BUSINESS WIRE)-- VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net profits for the third quarterly payment period ended September 30, 2021.

Unitholders of record on November 1, 2021 will receive a distribution amounting to $3,400,000 or $0.20 per unit, payable November 12, 2021.

Volumes, average sales prices and net profits for the payment period were:

Sales volumes:
Oil (Bbl)		141,750
Natural gas (Mcf)		88,288
Total (BOE)		156,465
Average sales prices:
Oil (per Bbl)		$	67.27
Natural gas (per Mcf)		$	3.85
Gross proceeds:
Oil sales		$	9,535,211
Natural gas sales			340,216
Total gross proceeds		$	9,875,427
Costs:
Lease operating expenses		$	3,081,564
Production and property taxes			274,199
Development expenses			2,056,977
Total costs		$	5,412,740
Net proceeds		$	4,462,687
Percentage applicable to Trust’s Net Profits Interest		80		%
Net profits interest		$	3,570,150
Increase in cash reserve held by VOC Brazos Energy Partners, L.P.			0
Total cash proceeds available for the Trust		$	3,570,150
Provision for estimated Trust expenses			170,150
Net cash proceeds available for distribution		$	3,400,000

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 September 30, 2021. 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, the effect, impact, potential duration or other implications of the COVID-19 pandemic, actions by the members of the Organization of Petroleum Exporting Countries, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020 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 obligations, to update any of the statements included in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020005979/en/

VOC Energy Trust

The Bank of New York Mellon Trust Company, N.A., as Trustee

Elaina Rodgers

(713) 483-6020

Source: VOC Energy Trust

FAQ

What is the distribution amount announced by VOC Energy Trust for November 2021?

VOC Energy Trust announced a distribution of $3,400,000 or $0.20 per unit.

When will the distribution be paid to unitholders?

The distribution will be payable on November 12, 2021.

What were the sales volumes for VOC Energy Trust in the third quarter of 2021?

Sales volumes were 141,750 barrels of oil and 88,288 Mcf of natural gas.

What are the total gross proceeds reported by VOC Energy Trust for the quarter?

Total gross proceeds amounted to approximately $9,875,427.

What are the net cash proceeds available for distribution for VOC Energy Trust?

Net cash proceeds available for distribution total $3,400,000.