-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HDGCz96lhcSwolSmYT0KFmxQd19POtrla7E2YeaRP1/M40/PsBW7jPuKLX1AqFRv URAGQ5ciN+uTLtpp5w43jQ== 0000950134-09-001853.txt : 20090204 0000950134-09-001853.hdr.sgml : 20090204 20090204170803 ACCESSION NUMBER: 0000950134-09-001853 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090204 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090204 DATE AS OF CHANGE: 20090204 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WILLIAMS COAL SEAM GAS ROYALTY TRUST CENTRAL INDEX KEY: 0000895007 STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792] IRS NUMBER: 756437433 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11608 FILM NUMBER: 09569038 BUSINESS ADDRESS: STREET 1: NATIONSBANK OF TEXAS N A (TRUST DIV) STREET 2: 901 MAIN ST STE 1700 CITY: DALLAS STATE: TX ZIP: 75202 BUSINESS PHONE: 2145082364 MAIL ADDRESS: STREET 1: NATIONSBANK PLAZA STREET 2: 901 MAIN STREET SUITE 1700 CITY: DALLAS STATE: TX ZIP: 75202 8-K 1 d66170e8vk.htm FORM 8-K e8vk
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 4, 2009
WILLIAMS COAL SEAM GAS ROYALTY TRUST
(Exact name of Registrant as specified in its charter)
         
Delaware   
(State or other jurisdiction of
incorporation or organization)
  001-11608
(Commission
File Number)
  75-6437433
(I.R.S. Employer
Identification No.)
         
Trust Division
U.S. Trust, Bank of America
Private Wealth Management
901 Main Street, 17th Floor
Dallas, Texas

(Address of principal executive offices)
      75202
(Zip Code)
Registrant’s Telephone Number, including area code: (214) 209-2400
                     Not Applicable                  
(Former name, former address and former fiscal year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

Item 2.02. Results of Operations And Financial Condition.
     On February 4, 2009, the Registrant issued a press release announcing its quarterly cash distribution to unitholders of record on February 17, 2009. The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
     This Report on Form 8-K is being furnished pursuant to Item 2.02, Results of Operations and Financial Condition. The information furnished is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
  (c)   Exhibits
  99.1   Press Release dated February 4, 2009.

 


 

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
             
    Williams Coal Seam Gas Royalty Trust
 
           
    By:   Bank of America, N.A., Trustee
 
           
 
      By:   /s/ RON E. HOOPER
 
           
 
          Ron E. Hooper
 
          Senior Vice President and Administrator
Date: February 4, 2009

 


 

EXHIBIT INDEX
     
Exhibit    
Number   Description
 
99.1
  Press Release dated February 4, 2009.

 

EX-99.1 2 d66170exv99w1.htm EX-99.1 exv99w1
Exhibit 99.1
WILLIAMS COAL SEAM GAS ROYALTY TRUST
PRESS RELEASE
Williams Coal Seam Gas Royalty Trust Announces Quarterly Cash Distribution
     DALLAS, TEXAS, February 4, 2009 — U.S. Trust, as trustee of Williams Coal Seam Gas Royalty Trust (NYSE: WTU), today announced a quarterly cash distribution to the holders of its units of beneficial interest of $0.113811 per unit, payable February 27, 2009 to unitholders of record on February 17, 2009.
     The Trust owns net profits interests in certain proved coal seam gas properties owned by Williams Production Company (WPC) and located in the San Juan Basin of northwestern New Mexico (the “Working Interest Properties”) and southwestern Colorado, including WPC’s 35 percent net profits interest in 5,348 gross acres in La Plata County, Colorado (the “Farmout Properties”).
     The distribution per unit decreased from $0.755888 to $0.113811 per unit due to the inclusion of $.357338 per unit relating to a true-up adjustment of $3,466,138 to the Federal unit expansion previously paid in last quarter’s distribution and to lower prices for natural gas during the fourth quarter of 2008.
     WPC reported that production attributable to its gross interests in the properties burdened by the Trust’s net profits interests was 4.3 trillion British thermal units (TBtu) during the period associated with this quarterly cash distribution compared to 15.7 TBtu during the preceding period. Approximately 10.7 TBtu was associated with the above-mentioned unit expansion which dated from December 1994 through December 2006. When prior period adjustments are excluded, production in the current quarter for the original wells was 2.8 TBtu compared to 2.9 TBtu in the preceding quarter. The net contract price per MMBtu for this quarter was $1.88 per MMBtu as compared to $2.60 per MMBtu for previous quarter.
     WPC also reported approximately 447 infill wells have been drilled and of those, 433 wells are producing as of 12/31/2008, and are now in “pay” status to the Trust as of early June 2008. Production attributable to the infill wells was 1.6 TBtu. In accordance with the original conveyance, the Trust is entitled to only 20% of the net-profit interests from these wells as opposed to the 60% of the original producing wells. These wells contributed approximately $.020146 per unit to this quarter’s distribution.
     The Trust is a grantor trust formed by The Williams Companies, Inc., parent company of WPC, and was designed to provide unitholders with quarterly cash distributions and tax credits under Section 29 of the Internal Revenue Code, which has expired as of 12/31/2002, from certain coal seam gas properties. The units are listed on The New York Stock Exchange under the symbol “WTU”.
     The 2008 tax information packets are expected mailing directly to unitholders in early, and through, mid-March. A copy of the 2008 Tax Information booklet will be posted on the Trust website by March 1st.
     For additional information, including the latest financial reports on Williams Coal Seam Gas Royalty Trust, please visit our website at http://www.wtu-williamscoalseamgastrust.com/.
*   *    *
CONTACT:
     Ron E. Hooper, Senior Vice President
     U.S. Trust, Bank of America Private Wealth Managment, Trustee
     1.800.365.6544

 

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