VOC Energy Trust Announces Trust Quarterly Distribution

AUSTIN, Texas--()--VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net profits for the first quarterly payment period ended March 31, 2015.

Unitholders of record on April 30, 2015 will receive a distribution amounting to $2,720,000, or $0.16 per unit, payable May 15, 2015.

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

     
Sales volumes:
Oil (Bbl) 163,674
Natural gas (Mcf) 118,396
Total (BOE) 183,407
Average sales prices:
Oil (per Bbl) $ 47.50
Natural gas (per Mcf) $ 3.28
Gross proceeds:
Oil sales $ 7,773,952
Natural gas sales 388,148  
Total gross proceeds $ 8,162,100
Costs:
Lease operating expenses $ 3,491,402
Production and property taxes 251,817
Development expenses 633,863  
Total costs $ 4,377,082  
Net proceeds $ 3,785,018
Percentage applicable to Trust’s Net Profits Interest 80 %
Net profits interest $ 3,028,014
Increase in cash reserve held by VOC Brazos Energy Partners, L.P. (200,000 )
Total cash proceeds available for the Trust $ 2,828,014
Provision for estimated Trust expenses (108,014 )
Net cash proceeds available for distribution $ 2,720,000  
 

This press release contains forward-looking statements. Although VOC Brazos Energy Partners, L.P. has advised the Trust that VOC Brazos Energy Partners, L.P. 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, 2015. 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, and other risk factors described in the Trust’s Form 10-K for the year ended December 31, 2014 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 obligation, to update any of the statements included in this press release.

Contacts

VOC Energy Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Mike Ulrich, 512-236-6599

Contacts

VOC Energy Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Mike Ulrich, 512-236-6599