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VOC Energy Trust Announces Trust Quarterly Distribution

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HOUSTON, October 20, 2021--(BUSINESS WIRE)--VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net profits for the third quarterly payment period ended September 30, 2021.

Unitholders of record on November 1, 2021 will receive a distribution amounting to $3,400,000 or $0.20 per unit, payable November 12, 2021.

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

Sales volumes:

Oil (Bbl)

141,750

Natural gas (Mcf)

88,288

Total (BOE)

156,465

Average sales prices:

Oil (per Bbl)

$

67.27

Natural gas (per Mcf)

$

3.85

Gross proceeds:

Oil sales

$

9,535,211

Natural gas sales

340,216

Total gross proceeds

$

9,875,427

Costs:

Lease operating expenses

$

3,081,564

Production and property taxes

274,199

Development expenses

2,056,977

Total costs

$

5,412,740

Net proceeds

$

4,462,687

Percentage applicable to Trust’s Net Profits Interest

80

%

Net profits interest

$

3,570,150

Increase in cash reserve held by VOC Brazos Energy Partners, L.P.

0

Total cash proceeds available for the Trust

$

3,570,150

Provision for estimated Trust expenses

170,150

Net cash proceeds available for distribution

$

3,400,000

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 September 30, 2021. 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, the effect, impact, potential duration or other implications of the COVID-19 pandemic, 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, 2020 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020005979/en/

Contacts

VOC Energy Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
(713) 483-6020

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