Popular on s4story
- Experience Trembling Firsthand with the New AgeMan® Tremor Simulator
- Keepy Uppy™ by Ollyball Wins Prestigious 2025 Influencer Award from Clamour & The Toy Association; Announces Fall 2025 Launch at Target Stores
- K2 Integrity's U.S. and EMEA Teams Recognized in Chambers and Partners 2025 Guides
- History Matters: Book Recommendations for June
- Elevated Healing Treatment Centers: Redefining Mental Health Care with Compassionate, Evidence-Based, and Accessible Services
- Venardi Zurada LLP Offers Legal Support to Families After Deadly Lake Tahoe Boat Capsizing
- Lottery.com Inc. Secures $300 Million in Growth Capital, Confirms Nasdaq Compliance & Acquires UAE Sports Incubator Amid High-Profile Brand Exposure
- Jasmine Farrell Releases New LGBTQ+ Poetry Collection - Rising From the Roots
- Holiday Inn Express North Hollywood Burbank Area Announces Conversion to Hampton Inn North Hollywood
- ASI Accelerates iMIS® Innovation by Acquiring CSI's Product Suite and Expert Team
Similar on s4story
- SacraPod Suites Unveils AI-Powered 'Work + Rest' Smart Hospitality Model for Retrofitting Underused Motels Across the U.S
- New Release: 'The Invisible Alternative' Unveiled by Atrisk Corporation, Resilient
- Real Estate Experts Highlight Jersey Shore as a Smart Buy in 2025
- $18 Price Target Issued in New Research Report After $34 Million Revenue Forecast from Acquisition; $101.5 Million Net Revenue in 2025; NAS DAQ: IQST
- The AML Shop Launches New Financial Investigations Unit, Appoints Director to Lead the Initiative
- New Podcast "Spreading the Good BUZZ" Hosted by Josh and Heidi Case Launches July 7th with Explosive Global Reach and a Mission to Transform Lives
- Drone Light Shows Emerge as the New Standard in Live Event Entertainment
- Skyline Partners with ZenSpace to Offer Private Meeting Pods for Trade Show Exhibitors
- AI Innovation Dual-Strategy Business Model Focused on Real Estate Development for Strategic Expansion: OFA Group, (N A S D A Q: OFAL)
- Valley Sleep Therapy Expands to Prescott with New Location at Crossings Road
Gulf Coast Ultra Deep Royalty Trust Announces Quarterly Cash Distribution
S For Story/10518083
HOUSTON--(BUSINESS WIRE)--Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) (the Trust) announced today that it will distribute to unitholders a cash distribution totaling $497,699 for the quarter ended December 31, 2021.
Unitholders of record on January 31, 2022 will receive a cash distribution of $0.002162 per unit payable on February 11, 2022.
Natural gas (Mcf) sales volumes, average sales price and net cash proceeds available for distribution for the quarter ended December 31, 2021 are set forth in the table below:
(a) Attributable to the onshore Highlander subject interest which is the only subject interest with commercial production.
More on S For Story
Commencing with the distribution to unitholders this quarter, the Trust is withholding, and in the future intends to withhold, $8,750 from the funds otherwise available for distribution each quarter to gradually build a cash reserve of approximately $350,000. This cash is reserved for the payment of future known, anticipated or contingent expenses or liabilities of the Trust. The Trustee may increase or decrease the targeted cash reserve amount at any time, and may increase or decrease the rate at which it is withholding funds to build the cash reserve at any time, without advance notice to the unitholders. Cash held in reserve will be invested as required by the royalty trust agreement. Any cash reserved in excess of the amount necessary to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities eventually will be distributed to unitholders, together with interest earned on the funds.
About Gulf Coast Ultra Deep Royalty Trust. The Trust is a Delaware statutory trust created to hold a 5% gross overriding royalty interest in future production from specified Inboard Lower Tertiary/Cretaceous exploration prospects located in the shallow waters of the Gulf of Mexico and onshore in South Louisiana that existed as of December 5, 2012, which are collectively referred to as subject interests. The subject interests and the Trust's overriding royalty interests are described in the Trust's filings with the Securities and Exchange Commission (SEC). As described in the Trust's SEC filings, future distributions are not guaranteed and will depend on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, post-production costs and specified taxes, and the amount and timing of the Trust's administrative expenses, among other factors. For additional information on the Trust, please visit http://gultu.q4web.com/home/default.aspx.
More on S For Story
Cautionary Statement Regarding Forward-Looking Information. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are all statements other than statements of historical facts, such as any statements regarding the build-up of the Trust's cash reserves and any statements regarding the amount and date of quarterly distributions to unitholders. Forward-looking statements are not guarantees or assurances of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that may cause actual results to differ materially from those anticipated by the forward-looking statements include, but are not limited to, the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to a record date for a quarterly cash distribution. Any differences in actual cash receipts by the Trust could affect the amount of quarterly cash distributions. Other important factors that may cause actual results to differ materially include risks inherent in production of oil and gas properties, the ability of commodity purchasers to make payment, the economic effects of the COVID-19 pandemic and federal, state and local governmental actions in response to the pandemic, and other risk factors described in the Trust's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC. The Trust's annual, quarterly and other filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov. Statements made in this press release are qualified by the cautionary statements made in this press release. The Trust cautions investors that it does not intend, and assumes no obligation, to update any of the statements included in this press release.
The Bank of New York Mellon Trust Company, N.A. serves as trustee of the Trust. If you have any questions related to the Trust, please see below for contact information:
Contacts
Gulf Coast Ultra Deep Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
(512) 236-6555
Unitholders of record on January 31, 2022 will receive a cash distribution of $0.002162 per unit payable on February 11, 2022.
Natural gas (Mcf) sales volumes, average sales price and net cash proceeds available for distribution for the quarter ended December 31, 2021 are set forth in the table below:
Natural gas (Mcf) sales volumes (a) | 143,564 | |
Natural gas (per Mcf) average sales price | $ 4.51 | |
Gross proceeds | $ 646,981 | |
Post-production costs and specified taxes | (52,084) | |
Royalty income | 594,897 | |
Interest and dividend income | 11 | |
Administrative expenses | (88,459) | |
Income in excess of administrative expenses | 506,449 | |
Increase to minimum cash reserve | (8,750) | |
Cash proceeds available for distribution | $ 497,699 |
(a) Attributable to the onshore Highlander subject interest which is the only subject interest with commercial production.
More on S For Story
- Thorn & Bloom Magazine Unveils Groundbreaking Second Edition: "Breaking the Cycle"
- New Book "Lemonade Tough" Offers Real-World Resilience for Life After Trauma
- Julian Raven Releases Second Edition of Odious & Cerberus Following Resignation of Smithsonian Director Kim Sajet
- Cynthia Pinot Among Artists Selected for Renowned London Art Biennale 2025
- Real Estate Experts Highlight Jersey Shore as a Smart Buy in 2025
Commencing with the distribution to unitholders this quarter, the Trust is withholding, and in the future intends to withhold, $8,750 from the funds otherwise available for distribution each quarter to gradually build a cash reserve of approximately $350,000. This cash is reserved for the payment of future known, anticipated or contingent expenses or liabilities of the Trust. The Trustee may increase or decrease the targeted cash reserve amount at any time, and may increase or decrease the rate at which it is withholding funds to build the cash reserve at any time, without advance notice to the unitholders. Cash held in reserve will be invested as required by the royalty trust agreement. Any cash reserved in excess of the amount necessary to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities eventually will be distributed to unitholders, together with interest earned on the funds.
About Gulf Coast Ultra Deep Royalty Trust. The Trust is a Delaware statutory trust created to hold a 5% gross overriding royalty interest in future production from specified Inboard Lower Tertiary/Cretaceous exploration prospects located in the shallow waters of the Gulf of Mexico and onshore in South Louisiana that existed as of December 5, 2012, which are collectively referred to as subject interests. The subject interests and the Trust's overriding royalty interests are described in the Trust's filings with the Securities and Exchange Commission (SEC). As described in the Trust's SEC filings, future distributions are not guaranteed and will depend on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, post-production costs and specified taxes, and the amount and timing of the Trust's administrative expenses, among other factors. For additional information on the Trust, please visit http://gultu.q4web.com/home/default.aspx.
More on S For Story
- From Barrio to Transgender Pioneer: Chapter 12 of A Letter to Pawtone
- $18 Price Target Issued in New Research Report After $34 Million Revenue Forecast from Acquisition; $101.5 Million Net Revenue in 2025; NAS DAQ: IQST
- West Dentistry Welcomes New Oral Surgeon to Enhance Patient Care
- The AML Shop Launches New Financial Investigations Unit, Appoints Director to Lead the Initiative
- Kimberley Strunk's Inspiring New Book, "Jumping Boundaries,"
Cautionary Statement Regarding Forward-Looking Information. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are all statements other than statements of historical facts, such as any statements regarding the build-up of the Trust's cash reserves and any statements regarding the amount and date of quarterly distributions to unitholders. Forward-looking statements are not guarantees or assurances of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that may cause actual results to differ materially from those anticipated by the forward-looking statements include, but are not limited to, the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to a record date for a quarterly cash distribution. Any differences in actual cash receipts by the Trust could affect the amount of quarterly cash distributions. Other important factors that may cause actual results to differ materially include risks inherent in production of oil and gas properties, the ability of commodity purchasers to make payment, the economic effects of the COVID-19 pandemic and federal, state and local governmental actions in response to the pandemic, and other risk factors described in the Trust's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC. The Trust's annual, quarterly and other filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov. Statements made in this press release are qualified by the cautionary statements made in this press release. The Trust cautions investors that it does not intend, and assumes no obligation, to update any of the statements included in this press release.
The Bank of New York Mellon Trust Company, N.A. serves as trustee of the Trust. If you have any questions related to the Trust, please see below for contact information:
Contacts
Gulf Coast Ultra Deep Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell
(512) 236-6555
0 Comments
Latest on S For Story
- Powerful Stories and Shared Sisterhood Shine at "An Evening with the Author" Featuring Staci Kirk
- AI Innovation Dual-Strategy Business Model Focused on Real Estate Development for Strategic Expansion: OFA Group, (N A S D A Q: OFAL)
- Construcción del Corredor Norte–Sur (NSC) de Singapur
- New Report: Slip and Fall Accidents Rank as the Leading Cause of Construction Site Fatalities
- Get Your Cowboy Boots On! Causeway Country BBQ Music Festival Kicks Off September 12–14 in Ft. Pierce
- Retired Hobbyist Launches Bold Weekly Album Project Using AI Songwriting Tools
- DimHum Launches Revolutionary CrowdShipping Service
- Eolian Signs New Information Exchange Agreement with the U.S. Department of Defense for Technology Innovation
- Infinite Health Introduces Cutting-Edge Regenerative Medicine for Wound Care with Trip Goolsby, MD
- Walking a Tightrope Backward in High Heels Published by Wordeee
- Top Dentist Concord CA, Smile Makers Dental Care, Celebrates 500 5-Star Reviews
- Bio-Inspired Technology-Dynamic and Adaptable for unknown real-world environments
- Michael Reafsnyder opens solo exhibition at Scott Richards Contemporary Art in San Francisco
- Valley Sleep Therapy Expands to Prescott with New Location at Crossings Road
- High Fantasy Author Plans for Release of Second Book
- $17.4 Million Total Revenue for First Half of 2025 (up 31.8% YOY) for Global Wet Trades Services Provider with High Value Bitcoin Investments
- $12.8 Million Net Revenue for 2024 for Cloud-Based Crowdsourcing Recruitment and SaaS-Enabled HR Solutions Provider: Baiya International Group Inc
- Indies United is pleased to present our July 2025 book releases
- New Book Music Care: The Bridge to Hope Explores Music as a Lifeline Through Life's Hardships
- Scott Burton Releases Chaos: The Weight of a Memory, a Poetic Journey Through What Still Lingers