Pacific Coast Oil Trust Announces Engagement of Martindale Consultants, Inc. to Review Estimated Future Plugging and Abandonment Liabilities
PACIFIC COAST OIL TRUST (ROYT)
Last pacific coast oil trust earnings: 7/31 04:52 pm
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US:NYSE Investor Relations:
pacificcoastoiltrust.com
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Source: Business Wire
HOUSTON--(BUSINESS WIRE)--PACIFIC COAST OIL TRUST (NYSE: ROYT) (the “Trust”), a royalty trust formed by Pacific Coast Energy Company LP (“PCEC”), announced today that on November 15, 2019, The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”) of the Trust, engaged Martindale Consultants, Inc. (“Martindale”), a provider of analysis and compliance review services to the oil and gas industry, to perform an independent review of the estimated future plugging and abandonment costs that PCEC has recently provided to the Trustee, as previously disclosed in the Trust’s Current Report on Form 8-K filed on November 13, 2019.The Trustee also intends to engage an accounting expert or firm to advise the Trustee regarding the accruals that the Trustee understands PCEC intends to book relating to the future plugging and abandonment costs estimated by PCEC.As previously disclosed, NewBridge Resources Pacific LLC, which is wholly owned by NewBridge Resources Group LLC, which
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