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SandRidge Mississippian Trust I Announces Quarterly Distribution

Volumes, price and distributable income available to unitholders for the period were (dollars in thousands, except per unit):

  Sales Volumes    
Oil (MBbl) (1) 102
Gas (MMcf) 1,162
Combined (MBoe) 296
Average Price
Oil (per Bbl) (1) $ 92.21
Gas (per Mcf) $ 4.04
Average Price - including impact of derivative settlements and post-production expenses
Oil (per Bbl) (1) $ 91.79
Gas (per Mcf) $ 3.54
Revenues
Royalty income $ 14,115
Derivative settlements 16
Expenses   1,471
Distributable income available to unitholders $ 12,660
Distributable income per Common Unit (21,000,000 units issued and outstanding) $ 0.6029
Distributable income per Subordinated Unit (7,000,000 units issued and outstanding) $ 0.0000
 

(1)

Includes natural gas liquids.

 

In addition to wells that were producing at the effective date of the assignment of the royalty interests to the Trust, SandRidge drilled, or caused to be drilled, 124 development wells within an area of mutual interest between January 1, 2011 and June 2013. Pursuant to a development agreement with the Trust, SandRidge was obligated to drill the development wells, determined by reference to SandRidge’s net revenue interest in a well and the perforated length of the well, by December 31, 2015.

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