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The Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) announced a cash distribution of $197,331 to unitholders for the quarter ending March 31, 2023. Unitholders on record by April 28, 2023, will receive $0.000857 per unit on May 12, 2023. During this quarter, natural gas sales included 87,121 Mcf at an average price of $4.98 per Mcf, generating gross proceeds of $434,239. However, administrative expenses totaled (189,676), impacting overall income. The Trust experienced operational issues with its sole well, leading to its shutdown on March 31, 2023, which may affect future distributions and reserves. The Trust is withholding $8,750 each quarter to build a cash reserve of $350,000 for anticipated expenses.
Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) announced a total cash distribution of $621,894 for the quarter ended December 31, 2022. Unitholders of record on January 31, 2023 will receive $0.002702 per unit payable on February 10, 2023. Key figures for the quarter include natural gas sales volumes of 101,420 Mcf and an average sales price of $7.45 per Mcf, resulting in gross proceeds of $755,206. Administrative expenses were (81,070), contributing to a cash reserve buildup of $8,750 each quarter.
Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) announced a cash distribution of $657,410 for the quarter ending September 30, 2022. Unitholders as of October 28, 2022 will receive $0.002856 per unit, payable on November 14, 2022. During the quarter, natural gas sales reached 104,953 Mcf with an average price of $7.97 per Mcf, leading to gross proceeds of $836,099. Post-production costs totaled $45,034, while net royalty income was $791,065.
Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) announced a cash distribution of $305,382 for the quarter ending June 30, 2022. Unitholders recorded on July 29, 2022 will receive $0.001327 per unit, payable on August 12, 2022. During the same quarter, natural gas sales volumes reached 107,110 Mcf with an average sales price of $5.30 per Mcf. The trust reported gross proceeds of $568,076, with $42,387 allocated to post-production costs, leading to a net cash distribution. Future distributions depend on production performance.
Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) announced a cash distribution of $258,130 for Q1 2022, translating to $0.001121 per unit for unitholders on record as of April 29, 2022, payable on May 13, 2022. The Trust reported natural gas sales volumes of 115,517 Mcf at an average price of $4.30 per Mcf. After accounting for post-production costs of $45,796 and administrative expenses of $184,167, the cash proceeds available for distribution reflect the performance of the underlying assets in the Gulf of Mexico.
The Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) announced a cash distribution of $497,699 for the quarter ending December 31, 2021. Unitholders of record on January 31, 2022 will receive $0.002162 per unit on February 11, 2022. For the quarter, the Trust reported natural gas sales volumes of 143,564 Mcf at an average price of $4.51 per Mcf, resulting in gross proceeds of $646,981. The Trust is also establishing a cash reserve of $350,000 for future expenses.
Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) announced a cash distribution of $29,304 for the quarter ended September 30, 2021. Unitholders recorded by October 29, 2021, will receive $0.000127 per unit, payable on November 12, 2021. During the quarter, the Trust reported natural gas sales volumes of 52,667 Mcf and an average sales price of $3.01 per Mcf. Gross proceeds amounted to $158,507, while administrative expenses were (105,335), leading to a net income in excess of expenses of $29,304.
Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) has announced a cash distribution of $47,999 for the quarter ending June 30, 2021. Unitholders of record by July 30, 2021, will receive $0.000209 per unit on August 13, 2021. The Trust reported 76,780 Mcf in natural gas sales at an average sales price of $3.24 per Mcf, yielding gross proceeds of $248,875. After deducting post-production costs of $35,493 and administrative expenses of $165,391, the income surplus available for distribution is $47,999.