VOC Energy Trust Announces Trust Quarterly Distribution

VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net profits for the quarterly payment period ended June 30, 2023.

Unitholders of record on July 31, 2023 will receive a distribution amounting to $3,570,000 or $0.21 per unit, payable August 14, 2023.

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

Sales volumes:

 

 

Oil (Bbl)

 

126,373

 

Natural gas (Mcf)

 

70,964

 

Total (BOE)

 

138,200

 

Average sales prices:

 

 

Oil (per Bbl)

 

$

71.49

 

Natural gas (per Mcf)

 

$

2.91

 

Gross proceeds:

 

 

 

Oil sales

 

$

9,033,970

 

Natural gas sales

 

 

206,615

 

Total gross proceeds

 

$

9,240,585

 

Costs:

 

 

 

Lease operating expenses

 

$

3,553,191

 

Production and property taxes

 

 

657,484

 

Development expenses

 

 

295,971

 

Total costs

 

$

4,506,646

 

Net proceeds

 

$

4,733,939

 

Percentage applicable to Trust’s Net Profits Interest

 

80

%

Net profits interest

 

$

3,787,151

 

Increase in cash reserve held by VOC Brazos Energy Partners, L.P.

 

 

0

 

Total cash proceeds available for the Trust

 

$

3,787,151

 

Provision for current estimated Trust expenses

 

 

(217,151

)

Net cash proceeds available for distribution

 

$

3,570,000

 

This press release contains forward-looking statements. Although VOC Brazos Energy Partners, L.P. (“VOC Brazos”) has advised the Trust that VOC Brazos 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, 2023. 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, 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, 2022 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.

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VOC Energy Trust The Bank of New York Mellon Trust Company, N.A., as Trustee Elaina Rodgers [phone]