Second graph of release should read: Unitholders of record on August 20, 2012 will receive...(sted Unitholders of record on August 19, 2012 (which results in an actual effective record date of August 17, 2012 due to the 19 th of August falling on a non-trading day) will receive...).
The corrected release reads:
WHITING USA TRUST I ANNOUNCES TRUST QUARTERLY DISTRIBUTION
Whiting USA Trust I (NYSE: WHX) announced the third Trust distribution in 2012, which relates to net profits generated during the second quarterly payment period of 2012.Unitholders of record on August 20, 2012 will receive a distribution amounting to $9,550,187 or $0.688853 per unit, which is payable on or before August 29, 2012. Volumes, average sales prices and net profits for the quarterly payment period were:
|Natural gas (Mcf)||746,709|
|Average sales prices:|
|Oil (per Bbl)||$||79.47|
|Natural gas (per Mcf)||$||2.68|
|Natural gas sales||2,000,844|
|Total gross proceeds||$||17,918,195|
|Lease operating expenses||$||7,346,695|
|Realized gains on hedging settlements||(1,497,169||)|
|Percentage allocable to Trust’s Net Profits Interest||90||%|
|Total cash available for the Trust||$||9,844,490|
|Provision for estimated Trust expenses||(245,000||)|
|Montana state income taxes withheld||(49,303||)|
|Net cash proceeds available for distribution||$||9,550,187|
|Trust units outstanding||13,863,889|
|Cash distribution per Trust unit||$||0.688853|
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