EX-99.1 2 tm2412140d1_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

VOC Energy Trust

 

VOC Energy Trust Announces Trust Quarterly Distribution

 

VOC ENERGY TRUST

The Bank of New York Mellon Trust Company, N.A., Trustee 

 

NEWS RELEASE

 

FOR IMMEDIATE RELEASE

 

Houston, Texas, April 18, 2024 — VOC Energy Trust (NYSE Symbol — VOC) announced the Trust distribution of net profits for the first quarterly payment period ended March 31, 2024.

 

Unitholders of record on April 30, 2024 will receive a distribution amounting to $3,060,000 or $0.18 per unit, payable May 15, 2024.

 

Volumes, average sales prices and net profits for the payment period were:

 

Sales volumes:    
Oil (Bbl)   110,534 
Natural gas (Mcf)   64,808 
Total (BOE)   121,335 
Average sales prices:     
Oil (per Bbl)  $71.25 
Natural gas (per Mcf)  $3.10 
Gross proceeds:     
Oil sales  $7,875,193 
Natural gas sales   201,034 
Total gross proceeds  $8,076,227 
Costs:     
Lease operating expenses  $3,312,352 
Production and property taxes   183,728 
Development expenses   358,318 
Total costs  $3,854,398 
Net proceeds  $4,221,829 
Percentage applicable to Trust’s Net Profits Interest   80%
Net profits interest  $3,377,463 
Increase in cash reserve held by VOC Brazos Energy Partners, L.P.   0 
Total cash proceeds available for the Trust  $3,377,463 
Provision for current estimated Trust expenses   (317,463)
Net cash proceeds available for distribution  $3,060,000 

 

 

 

 

This press release contains forward-looking statements. Although VOC Brazos has advised the Trust that VOC Brazos believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date with respect to the quarter ended March 31, 2024. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, actions by the members of the Organization of Petroleum Exporting Countries, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission. Statements made in this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.

 

Contact: VOC Energy Trust
  The Bank of New York Mellon Trust Company, N.A., as Trustee
  Elaina Rodgers
  (713) 483-6020
  601 Travis Street, Floor 16, Houston, TX 77002

 

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