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Mesa Royalty Trust reports monthly royalty income and unitholder distribution information tied to its net overriding royalty interests in producing oil and gas properties. The trust’s interests relate to properties in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado.
Recurring news for Mesa Royalty Trust centers on cash received from working interest owners, distributable net profits after administrative expenses, and months when costs exceed revenue from oil, natural gas and other hydrocarbons. Trust income announcements also describe factors that affect distributions, including production volumes, commodity prices, operating costs and cash-reserve needs.
Mesa Royalty Trust (NYSE: MTR) announced no distribution for August 2024 to holders of record on August 30, 2024. This decision was made as costs, charges, and expenses related to the Trust's royalty properties exceeded the revenue from oil, natural gas, and other hydrocarbons produced from these properties. The Trust owns an overriding royalty interest in producing oil and gas properties in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado.
Monthly distributions are expected to fluctuate based on production proceeds, oil and gas prices, and administrative expenses. Distributions to unitholders are anticipated to be materially reduced until the Trust increases its cash reserves to $2.0 million for added liquidity. The Trust's ability to pay distributions has been and will continue to be affected by industry volatility, revenues, and expenses reported by working interest owners.
Mesa Royalty Trust (NYSE: MTR) announced its income distribution for July 2024. Unitholders of record on July 31, 2024, will receive $0.001801384 per unit, payable on October 31, 2024. The Trust received $36,618, all from the New Mexico portion of its San Juan Basin properties operated by Hilcorp San Juan LP. After expenses, the distributable net profits were $3,357.
The Trust owns overriding royalty interests in oil and gas properties in the Hugoton field of Kansas and San Juan Basin fields of New Mexico and Colorado. Monthly distributions are expected to fluctuate based on production, prices, and expenses. Distributions are likely to be materially reduced until the Trust increases its cash reserves to $2.0 million for added liquidity.
Mesa Royalty Trust (NYSE: MTR) has announced a June 2024 income distribution of $0.038766492 per unit for unitholders of record on June 28, payable on July 31, 2024. The Trust received $85,246 solely from the New Mexico portion of the San Juan Basin properties operated by Hilcorp San Juan LP. No income was received from other working interest owners. After reserves and administrative expenses, the distributable net profit was $72,245. The Trust expects monthly distribution amounts to fluctuate due to production, oil and natural gas prices, and administrative costs. Distributions will be materially reduced until the Trust boosts its cash reserves to $2.0 million. Additionally, the Trust faces substantial accumulated excess production costs, potentially leading to periods with no distributions.
Mesa Royalty Trust (NYSE: MTR) announced the income distribution for May 2024. Unitholders of record on May 31, 2024, will receive $0.054572375 per unit, payable on July 31, 2024. The Trust received $130,266 from its San Juan Basin properties, operated by Hilcorp San Juan LP. After withholding for cash reserves and administrative expenses, the distributable net profit totals $101,701.
The Trust's monthly distributions fluctuate based on production, oil and natural gas prices, and administrative expenses. Due to accumulated excess production costs and a strategy to increase cash reserves to $2.0 million, distributions are expected to be materially reduced.
Future distributions will also be affected by industry volatility and additional expenses.
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