Every 10-Q that GULF COAST ULTRA D/R UNIT (GULTU) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow GULTU and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GULTU filings page.
Gulf Coast Ultra Deep Royalty Trust reports that for the three and six months ended June 30, 2026 it generated no royalty income and no distributable income, resulting in no unitholder distributions. Interest income was minimal and was more than offset by administrative expenses.
Total assets were $1,085,103, consisting primarily of $1,082,086 in reserve fund cash and investments. These are matched by a $1,233,717 reserve fund liability, a $459,587 note payable to Highlander Oil & Gas Assets LLC (HOGA), and a negative trust corpus of $(608,201), indicating an accumulated deficit.
The sole producing Highlander well was permanently plugged and abandoned in 2024, eliminating production and associated royalty proceeds. A replacement well was spudded in January 2025 and reached 30,862 feet in February 2026, but its future production status remains unknown. Unless this or another well produces hydrocarbons in commercial quantities, the trust does not expect future income or cash available for distributions. To cover expenses, HOGA contributed the full $350,000 annual expense cap in both 2025 and 2026 and has provided $459,587 in unsecured, interest-free loans that must be repaid before any future distributions.
Gulf Coast Ultra Deep Royalty Trust reported no royalty or distributable income for the quarter ended March 31, 2026, as its only producing asset, the onshore Highlander well, has been shut in and permanently abandoned. Interest income was negligible and administrative expenses of $115,911 led to administrative expenses exceeding income.
Total assets were $1,093,183, consisting almost entirely of reserve fund cash and short-term investments, while liabilities included a reserve fund liability and a note payable to Highlander Oil & Gas Assets LLC (HOGA) of $416,489. The trust corpus remained negative.
The trust continues to rely on HOGA for funding its operations. HOGA contributed amounts toward the $350,000 Depositor Annual Expense Cap for 2026 and has provided interest-free loans to cover past expenses. A new well on the Highlander interest reached total depth of 30,862 feet in February 2026, but its future production status remains unknown, and the trust states it does not expect future income or unitholder distributions unless this or another well produces hydrocarbons in commercial quantities.
Gulf Coast Ultra Deep Royalty Trust filed its quarterly report showing no royalty income and no distributions for the three and nine months ended September 30, 2025. The sole Highlander well was plugged and abandoned in 2024, eliminating production and cash proceeds under the Trust’s 3.6% overriding royalty interest. HOGA spudded a new Highlander well on January 30, 2025, with a planned depth of approximately 30,000 feet in Q4 2025; future production status remains unknown.
Total assets were $1,073,054, including operating cash of $20,205 and reserve fund cash and short-term investments of $1,052,849. Liabilities included a reserve fund liability of $1,204,480 and a note payable to HOGA of $361,664; trust corpus was $(493,090). Administrative expenses were $108,445 in Q3 and $507,793 year-to-date, with minimal interest income ($222 in Q3; $764 year-to-date). The Trustee maintains a minimum cash reserve of $302,500. HOGA made the annual $350,000 expense contribution for 2025 and provided interest-free loans; an additional $54,826 loan was made on November 12, 2025. Units outstanding were 230,172,696 as of November 11, 2025.