North European Oil Royalty Trust Announces The Distribution For The Second Quarter Of Fiscal 2021
KEENE, N.H., April 30, 2021 /PRNewswire/ -- The Trustees of North European Oil Royalty Trust (NYSE-NRT) announced today a quarterly distribution of
John R. Van Kirk, Managing Director, reported that this year's quarterly distribution of
The Trust receives all of its royalties under two royalty agreements. The Mobil Agreement, which is the higher royalty rate agreement, covers gas sales from the western half of the Oldenburg concession. The OEG Agreement, which is the lower royalty rate agreement, covers gas sales from the entire Oldenburg concession. The factors determining the amount of gas royalties payable under the two agreements from the preceding calendar quarter are shown in the table below comparing the first calendar quarters of 2021 and 2020. Further details will be included in the earnings press release scheduled for publication on or about May 14, 2021.
Quarterly Gas Data Providing Basis for Fiscal Quarter Royalties | |||
Mobil Agreement | 1st Calendar Quarter Ended 3/31/2021 | 1st Calendar Quarter Ended 3/31/2020 | Percentage Change |
Gas Sales (Bcf1) | 4.354 | 4.624 | - |
Gas Prices2 (Ecents/kWh3) | 1.5395 | 1.6349 | - |
Average Exchange Rates4 | 1.2020 | 1.0943 | + |
Gas Royalties | - | ||
OEG Agreement | |||
Gas Sales (Bcf) | 14.495 | 15.266 | - |
Gas Prices (Ecents/kWh) | 1.5700 | 1.6672 | - |
Average Exchange Rates | 1.2022 | 1.0955 | + |
Gas Royalties | - |
1 Billion cubic feet 2 Gas prices derived from November-January period 3 Euro cents per kilowatt hour 4 Based on average Euro/dollar exchange rates of cumulative royalty transfers |
The cumulative 12-month distribution, which includes the May 2021 distribution and the three prior quarterly distributions, is
Contact – John R. Van Kirk, Managing Director, telephone: (732) 741-4008, e-mail: jvankirk@neort.com. The Trust's press releases and other pertinent information are available on the Trust's website: www.neort.com.
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SOURCE North European Oil Royalty Trust