VOC Energy : Announces Trust Quarterly Distribution
July 17, 2015 at 12:12 pm EDT
Share
VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net
profits for the second quarterly payment period ended June 30, 2015.
Unitholders of record on July 30, 2015 will receive a distribution
amounting to $1,870,000 or $0.11 per unit, payable August 14, 2015.
Volumes, average sales prices and net profits for the payment period
were:
Sales volumes:
Oil (Bbl)
159,730
Natural gas (Mcf)
102,422
Total (BOE)
176,800
Average sales prices:
Oil (per Bbl)
$
48.32
Natural gas (per Mcf)
$
2.29
Gross proceeds:
Oil sales
$
7,717,484
Natural gas sales
234,066
Sale of leases
229,344
Total gross proceeds
$
8,180,894
Costs:
Lease operating expenses
$
3,073,104
Production and property taxes
1,506,393
Development expenses
79,529
Total costs
$
4,659,026
Net proceeds
$
3,521,868
Percentage applicable to Trust’s Net Profits Interest
80
%
Net profits interest
$
2,817,494
Increase in cash reserve held by VOC Brazos Energy Partners, L.P.
(800,000
)
Total cash proceeds available for the Trust
$
2,017,494
Provision for estimated Trust expenses
(147,494
)
Net cash proceeds available for distribution
$
1,870,000
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 June 30, 2015. 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, and
other risk factors described in the Trust’s Form 10-K for the year ended
December 31, 2014 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 obligation, to update any of the statements included in this
press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150717005623/en/
VOC Energy Trust (the Trust) is a statutory trust formed by VOC Brazos Energy Partners, L.P. (VOC Brazos). The Trust is managed by The Bank of New York Mellon Trust Company, N.A., as trustee (the Trustee). The Trust is created to acquire and hold the net profits interest for the benefit of the trust unitholders. VOC Brazoâs properties included interests in approximately 739 gross (454.6 net) producing wells and included 81,095 gross (50,310.7 net) acres. The underlying properties are interests in developing properties located in the oil and natural gas producing regions of Kansas and Texas. The fields in the Central Kansas Uplift include Fairport Field, Marcotte Field and Chase-Silica Field. The fields in Western Kansas include the Bindley, Griston SW and Rosa Northwest fields. The fields in South Central Kansas include the Gerberding, Spivey Grabs and Alford fields, which are produced primarily from the Mississippian, Simpson and Lansing Kansas City zones.
VOC ENERGY TRUST 
