Pacific Coast Oil Trust Announces There Will Be No November Cash Distribution
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 there will be no cash distribution to the holders of its units of beneficial interest in November 2019 because the deficit incurred in the prior month has not yet been fully recovered. The Trust’s distribution calculation relates to net profits and overriding royalties generated during September 2019 as provided in the conveyance of net profits and overriding royalty interest. All information in this press release has been provided to the Trustee by PCEC.The current month’s calculation for the Developed Properties resulted in $0.5 million of direct operating revenues. The current month’s revenues were $3.4 million, lease operating expenses including property taxes were $2.7 million, and capital expenditures were $0.2 million. Average realized prices for the Developed Properties were $59.69 per Boe in September, as co
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