This Day On The Street
Continue to site
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

Whiting USA Trust I Announces Trust Quarterly Distribution

Whiting USA Trust I (NYSE: WHX) announced the second Trust distribution in 2012, which relates to net profits generated during the first quarterly payment period of 2012.

Unitholders of record on May 20, 2012 (which results in an actual effective record date of May 18, 2012 due to the 20 th of May falling on a non-trading day) will receive a distribution amounting to $10,028,962 or $0.723387 per unit, which is payable on or before May 30, 2012.

Volumes, average sales prices and net profits for the quarterly payment period were:
Sales Volumes:  
Oil (Bbls) 188,240
Natural Gas (Mcf)   655,938  
Total (BOE) 297,563
Average Sales Prices:
Oil (per Bbl) $ 86.21
Natural gas (per Mcf) $ 3.31
Gross Proceeds:
Oil Sales $ 16,228,445
Natural Gas Sales   2,168,060  
Total Gross Proceeds $ 18,396,505  
Lease Operating Expenses $ 7,427,876
Production Taxes 1,296,823
Realized Gains on Hedging Settlements   (1,756,390 )
Total Costs $ 6,968,309  
Net Profits $ 11,428,196
Percentage allocable to Trust’s Net Profits Interest   90 %
Total cash available for the Trust $ 10,285,376
Provision for estimated Trust expenses (175,000 )
Montana state income taxes withheld   (81,414 )
Net cash proceeds available for distribution $ 10,028,962
Trust units outstanding   13,863,889  
Cash distribution per Trust unit $ 0.723387  

The net profits interest represents the right to receive 90% of the net proceeds from Whiting Petroleum Corporation’s interests in certain existing oil and natural gas producing properties located primarily in the Rocky Mountains, Mid-Continent, Permian Basin and Gulf Coast regions of the United States. The net profits interest will terminate when 9.11 MMBOE have been produced and sold from the underlying properties (which amount is equivalent to 8.20 MMBOE attributable to the net profits interest), and the Trust will soon thereafter wind up its affairs and terminate, after which it will pay no further distributions.

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs