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North European Oil Royalty Trust - NRT STOCK NEWS

Welcome to our dedicated news page for North European Oil Royalty Trust (Ticker: NRT), a resource for investors and traders seeking the latest updates and insights on North European Oil Royalty Trust.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect North European Oil Royalty Trust's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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Rhea-AI Summary
North European Oil Royalty Trust (NRT) reported a significant decline in net income, total royalty income, and distributions per unit for the first quarter of fiscal 2024 compared to the same period in 2023. The Trust attributes these decreases to negative adjustments and overpayments by operating companies. However, gas prices have stabilized, and the Trustees anticipate higher distributions in the upcoming quarters. Expenses remained consistent year-over-year.
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3.45%
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Rhea-AI Summary
North European Oil Royalty Trust (NRT) announced a distribution of $0.05 per unit for the first quarter of fiscal 2024, payable on February 28, 2024, to owners of record on February 16, 2024. The Trust receives royalties under the Mobil and OEG Royalty Agreements. End of quarter royalty adjustments result from the need to align scheduled royalty payments with actual royalties. As of the end of the first quarter of fiscal 2024, there remained a negative adjustment of Euros 200,113 under the OEG Agreement. The Trustees anticipate a higher distribution in the second quarter of 2024.
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-1.39%
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North European Oil Royalty Trust (NYSE-NRT) reported a decline in total royalty income, net income, and distributions per unit for the fourth quarter of fiscal 2023 compared to the fourth quarter of fiscal 2022. The decline is attributed to negative adjustments from prior periods and a decrease in gas sales due to a temporary shutdown at Grossenkneten. Despite the quarter-over-quarter falloff in gas prices, the average gas price for fiscal 2023 was higher than in fiscal 2022. The Trust's total royalty income and net income for fiscal 2023 showed an increase compared to fiscal 2022. The Trust also announced that there will be no distribution paid for the fourth quarter of fiscal 2023.
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North European Oil Royalty Trust (NYSE-NRT) will not have a quarterly distribution for Q4 2023 due to a decline in gas sales volumes and negative adjustments. In Q4 2022, the distribution was $0.74 per unit. The shutdown of ExxonMobil's Grossenkneten desulphurization plant and declining German Border Import gas Price contributed to the absence of royalty payments. The residual balance of these adjustments will impact Q1 2024, and future cash distributions are uncertain due to gas price volatility and the Trust's pricing system.
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-27.11%
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Rhea-AI Summary
North European Oil Royalty Trust reports decrease in net income and total royalty income for Q3 2023 compared to Q3 2022. Trust expenses increased. Total royalty income for first nine months of 2023 increased by 104.56%. Overpayment of royalties in Q3 2023 will eliminate cash distributions for Q4 2023. Distribution of 21 cents per unit will be paid on August 30, 2023.
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North European Oil Royalty Trust

NYSE:NRT

NRT Rankings

NRT Stock Data

65.71M
9.14M
0.54%
10.27%
0.68%
Miscellaneous Intermediation
Finance and Insurance
Link
United States
Keene

About NRT

north european oil royalty trust, a grantor trust, holds overriding royalty rights covering gas and oil production in various concessions or leases in the federal republic of germany. it has rights under contracts with german exploration and development subsidiaries of exxonmobil corp. and the royal dutch/shell group of companies. the company holds royalties for the sale of well gas, oil well gas, crude oil, condensate, and sulfur. north european oil royalty trust is based in keene, new hampshire.