VOC Energy Trust Announces Trust Quarterly Distribution

VOC Energy Trust (NYSE:VOC) announced the Trust distribution of net profits for the fourth quarterly payment period ended December 31, 2013.

Unitholders of record on January 30, 2014 will receive a distribution amounting to $9,690,000 or $0.57 per unit, payable February 14, 2014.

Volumes, average sales prices and net profits for the payment period were:
Sales volumes:  
Oil (Bbl) 194,014
Natural gas (Mcf) 148,073
Total (BOE) 218,693
Average sales prices:
Oil (per Bbl) $ 95.98
Natural gas (per Mcf) $ 4.52
Gross proceeds:
Oil sales $ 18,621,433
Natural gas sales   669,851  
Total gross proceeds $ 19,291,284
Production and development costs:
Lease operating expenses $ 3,685,711
Production and property taxes 2,335,396
Development expenses   796,133  
Total production and development costs $ 6,817,240
Settlement of hedge contracts – payments made   123,630  
Total costs $ 6,940,870  
Net proceeds $ 12,350,414
Percentage applicable to Trust’s Net Profits Interest   80 %
Net profits interest $ 9,880,331
Increase in cash reserve held by VOC Brazos Energy Partners, L.P.   (0 )
Total cash proceeds available for the Trust $ 9,880,331
Provision for estimated Trust expenses   (190,331 )
Net cash proceeds available for distribution $ 9,690,000  

This press release contains forward-looking statements. Although VOC Brazos Energy Partners, L.P. has advised the Trust that VOC Brazos Energy Partners, L.P. 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 December 31, 2013. 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, and other risk factors described in the Trust’s Form 10-K for the year ended December 31, 2012 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 obligation, to update any of the statements included in this press release.

If you liked this article you might like

3 Stocks Going Ex-Dividend Tomorrow: VOC, CQP, EWBC

What To Hold: 3 Hold-Rated Dividend Stocks NSH, GLAD, VOC

Dividend Watch: 3 Stocks Going Ex-Dividend Tomorrow: VOC, ENLC, TLLP

Tomorrow's Ex-Dividends To Watch: VOC, CQP, WES

What To Hold: 3 Hold-Rated Dividend Stocks SXC, EFC, VOC