Whiting USA Trust I Announces Trust Quarterly Distribution
05 November 2011 - 7:15AM
Business Wire
Whiting USA Trust I (NYSE: WHX) announced the fourth Trust
distribution in 2011, which relates to net profits generated during
the third quarterly payment period of 2011.
Unitholders of record on November 19, 2011 will receive a
distribution amounting to $10,132,645 or $0.730866 per unit, which
is payable on or before November 29, 2011.
Volumes, price and net profits for the quarterly payment period
were:
Sales Volumes: Oil (Bbls) 193,045 Natural Gas (Mcf)
751,194 Total (BOE) 318,244 Average Sales Prices: Oil (per
Bbl) $ 80.01 Natural gas (per Mcf) $ 4.47 Gross Proceeds:
Oil Sales $ 15,446,438 Natural Gas Sales 3,359,097
Total Gross Proceeds $ 18,805,535 Costs: Lease Operating
Expenses $ 6,726,063 Production Taxes 1,363,746 Realized Gains on
Hedging Settlements (806,451 ) Total Costs $ 7,283,358
Net Profits $ 11,522,177 Percentage allocable to
Trust’s Net Profits Interest 90 % Total cash
available for the Trust $ 10,369,959 Provision for estimated Trust
expenses (175,000 ) Montana state income taxes withheld
(62,314 ) Net cash proceeds available for distribution $ 10,132,645
Trust units outstanding 13,863,889 Cash
distribution per Trust unit $ 0.730866
This press release contains forward-looking statements,
including all statements made in this press release other than
statements of historical fact. No assurances can be given that such
statements will prove to be correct. The announced distributable
amount is based, in part, on the amount of cash received or
expected to be received by the Trust from Whiting Petroleum
Corporation pursuant to the net profits interest with respect to
the relevant quarterly period. Any differences in actual cash
receipts by the Trust could affect this distributable amount. Other
important factors that could cause actual results to differ
materially include expenses of the Trust, fluctuations in oil and
natural gas prices, uncertainty of estimates of oil and natural gas
reserves and production, risks inherent in operation and production
of oil and gas properties and future production costs. Statements
made in this press release are qualified by the cautionary
statements made in this press release. The Trustee does not intend,
and assumes no obligation, to update any of the statements included
in this press release.
W H X (NYSE:WHX)
Historical Stock Chart
From Jun 2024 to Jul 2024
W H X (NYSE:WHX)
Historical Stock Chart
From Jul 2023 to Jul 2024