Gulf Coast Ultra Deep Royalty Trust Announces Quarterly Cash Distribution
Natural gas (Mcf) sales volumes, average sales price and net cash proceeds available for distribution for the quarter ended
Natural gas (Mcf) sales volumes (a) |
|
107,110 |
|
|
Natural gas (per Mcf) average sales price |
$ |
5.30 |
|
|
Gross proceeds |
$ |
568,076 |
|
|
Post-production costs and specified taxes |
|
(42,387 |
) |
|
Royalty income |
|
525,689 |
|
|
Interest and dividend income |
|
366 |
|
|
Administrative expenses |
|
(211,923 |
) |
|
Income in excess of administrative expenses |
|
314,132 |
|
|
Increase in minimum cash reserve |
|
(8,750 |
) |
|
Cash proceeds available for distribution |
$ |
305,382 |
|
(a) Attributable to the onshore Highlander subject interest which is the only subject interest with commercial production. |
About
Cautionary Statement Regarding Forward-Looking Information. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are all statements other than statements of historical facts, such as any statements regarding the amount and date of quarterly distributions to unitholders. Forward-looking statements are not guarantees or assurances of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that may cause actual results to differ materially from those anticipated by the forward-looking statements include, but are not limited to, the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to a record date for a quarterly cash distribution. Any differences in actual cash receipts by the Trust could affect the amount of quarterly cash distributions. Other important factors that may cause actual results to differ materially include risks inherent in production of oil and gas properties, the ability of commodity purchasers to make payment, the economic effects of the COVID-19 pandemic and federal, state and local governmental actions in response to the pandemic, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended
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