On April 4, 2023, Shipyard Capital Management LLC, Cedar Creek Partners LLC, Walter C. Keenan, and Evergreen Capital Management LLC expressed their views that Pacific Coast Oil Trust is not properly representing unitholders. Shipyard Capital Management stated that the Company has refused to file suit against PCEC for what it believes are illegal and improper assessments against the trust, preventing the trust from making distributions and potentially forcing dissolution and liquidation, which it believes would harm unitholders.