Voc Energy Tr Stock Price, News & Analysis
Company Description
VOC Energy Trust (NYSE: VOC) is a statutory trust focused on interests in crude oil and natural gas production. According to publicly available information, the Trust was created to acquire and hold a term net profits interest for the benefit of its unitholders. This net profits interest is tied to underlying oil and gas properties in the crude petroleum and natural gas extraction industry.
The Trust’s underlying properties include VOC Brazos Energy Partners, L.P.’s net interests in oil and natural gas assets located in the states of Kansas and Texas. The Trust is entitled to receive net proceeds from the sale of production of oil and natural gas attributable to these underlying properties. These proceeds form the basis for quarterly cash distributions to unitholders.
Business structure and purpose
VOC Energy Trust does not operate oil and gas wells or manage day-to-day field activities. Instead, it holds a term net profits interest in producing properties. The Trust receives a contractually defined share of net proceeds from VOC Brazos’ interests in the underlying properties, after specified costs. The Trust’s primary function is to collect these net proceeds and distribute them, after Trust-level expenses, to holders of units of beneficial interest.
The business and affairs of VOC Energy Trust are managed by a trustee. According to the Trust’s description, neither VOC Brazos nor any of its affiliates has the ability to manage or influence the operations of the Trust. The trustee administers the Trust, oversees the receipt of cash flows associated with the net profits interest, and determines the amounts available for quarterly distribution to unitholders.
Net profits interest and distributions
The Trust’s net profits interest entitles it to a percentage of the net proceeds from the sale of oil and natural gas produced from the underlying properties. Publicly released distribution information shows that the Trust periodically reports sales volumes of oil (in barrels), natural gas (in Mcf), total production on a barrel of oil equivalent basis, average sales prices, gross proceeds from oil and natural gas sales, and the costs deducted to arrive at net proceeds. These costs have included lease operating expenses, production and property taxes, and development expenses.
After calculating net proceeds for a given payment period, a specified percentage is applied to determine the amount attributable to the Trust’s net profits interest. From this amount, adjustments such as any changes in cash reserves held by VOC Brazos and provisions for estimated Trust expenses are reflected to determine total cash proceeds available for the Trust and the net cash proceeds available for distribution to unitholders.
Industry and listing
VOC Energy Trust is associated with the crude petroleum and natural gas extraction industry within the broader sector of mining, quarrying, and oil and gas extraction. Units of beneficial interest in the Trust trade on the New York Stock Exchange under the symbol VOC, as indicated in the Trust’s Form 8-K filing, where “Units of Beneficial Interest” are listed with the trading symbol VOC on the NYSE.
The Trust’s activities are closely linked to the performance of the underlying oil and gas properties in Kansas and Texas, and to the revenues generated from the sale of production from those properties. The Trust periodically announces its quarterly distribution of net profits, detailing production volumes, average realized prices for oil and natural gas, gross proceeds, operating and development costs, and the resulting net cash proceeds available for distribution.
Governance and administration
The Bank of New York Mellon Trust Company, N.A. serves as trustee for VOC Energy Trust. Public announcements identify the trustee in connection with the Trust’s distributions and filings. The trustee is responsible for managing the Trust’s business and affairs, including administering the net profits interest, handling Trust expenses, and making distributions to unitholders based on the net cash proceeds available for each payment period.
The Trust also files periodic reports with the U.S. Securities and Exchange Commission. For example, it files an Annual Report on Form 10-K, which includes audited financial statements and additional information about the Trust’s operations and the underlying properties. The Trust has reported the filing of its Annual Report on Form 10-K for specific years and has indicated that these reports are available through the SEC’s website and through the Trust’s own channels.
Reporting and transparency
VOC Energy Trust regularly issues press releases announcing its quarterly distributions. These announcements provide detailed tabular information for each payment period, including:
- Sales volumes of oil and natural gas and total production on a barrel of oil equivalent basis
- Average sales prices for oil (per barrel) and natural gas (per Mcf)
- Gross proceeds from oil and natural gas sales
- Lease operating expenses, production and property taxes, and development expenses
- Net proceeds and the percentage applicable to the Trust’s net profits interest
- Total cash proceeds available for the Trust and provisions for estimated Trust expenses
- Net cash proceeds available for distribution to unitholders
In addition to distribution announcements, the Trust has reported the filing of its Annual Report on Form 10-K for specified years, noting that unitholders may request printed copies of the report, which includes audited financial statements.
Regulatory filings and exchange status
VOC Energy Trust files current reports on Form 8-K with the SEC when it announces quarterly distributions. In one such Form 8-K, the Trust identifies its securities registered under Section 12(b) of the Securities Exchange Act of 1934 as “Units of Beneficial Interest” trading under the symbol VOC on the New York Stock Exchange. The filing notes that a press release announcing a quarterly distribution is furnished as an exhibit.
Based on the provided information, there is no explicit indication in these materials of delisting, deregistration, bankruptcy, or a completed merger or acquisition involving VOC Energy Trust. The Trust continues to report quarterly distributions and to file periodic reports with the SEC.
Role for investors
VOC Energy Trust’s structure, as described in the available information, is centered on holding a term net profits interest and distributing net cash proceeds from that interest to unitholders. Investors in VOC units gain exposure to the net proceeds from oil and natural gas production from the underlying properties in Kansas and Texas, subject to the costs and terms described in the Trust’s public disclosures and SEC filings.