This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Chesapeake Granite Wash Trust Announces Initial Two Month Distribution Of $0.58 Per Unit

Chesapeake Granite Wash Trust (NYSE:CHKR) (the “Trust”) announced today that its distribution for the period from July 1, 2011 through August 31, 2011 will be $0.58 per unit, which will be paid on December 28, 2011 to unitholders of record at the close of business on December 15, 2011.

During the two-month period ended August 31, 2011, sales volumes and realized prices were higher than estimated in the Prospectus dated November 10, 2011 relating to the initial public offering of the common units of the Trust, resulting in an approximate 7% higher distribution per unit over the target distribution of $0.54 per unit listed in the Prospectus. The following table provides sales volumes, realized prices and revenue attributable to the Trust’s royalty interests, expenses of the Trust and distributable income available to unitholders for the period from July 1, 2011 to August 31, 2011.

Sales volumes  
Oil (mbbl) 133
Natural gas liquids (mbbl) 225
Natural gas (mmcf) 2,172
Total oil equivalent volumes (mboe) 720
Average price received per production unit (1)
Oil $ 88.26
Natural gas liquids $ 46.65
Natural gas $ 3.26
Revenue less production taxes (in thousands) $ 28,428
Expenses (in thousands) $ 1,256
Distributable income available to unitholders (in thousands) $ 27,172
Distributable income per unit (46,750,000 units issued and outstanding) $ 0.58

(1) Includes the effect of certain marketing, gathering and transportation deductions.

Due to the timing of the payment of production proceeds to the Trust, future quarterly distributions will generally include royalties attributable to sales of oil, natural gas liquids and natural gas for three months, including the first two months of the quarter just ended and the last month of the prior quarter.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs