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Bp Prudhoe Bay Royalty Trust (BPT) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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BPT Annual Reports

Bp Prudhoe Bay Royalty Trust

CIK: 850033 Ticker: BPT

Exhibit 99.1

BP Prudhoe Bay Royalty Trust Announces Record Date and Payment Date for Distribution to Unitholders for the Fourth Quarter of 2021

HOUSTON, Texas January 6, 2022: BP Prudhoe Bay Royalty Trust (

NYSE: BPT) announces that unitholders will receive a dividend for the quarter ended December 31, 2021. The dividend information is as follows:

 

Ex-Dividend Date:    January 14, 2022
Record Date:    January 18, 2022
Payable Date:    January 19, 2022
Dividend Rate:    $0.5811729 per Unit

As provided in the Trust Agreement, the quarterly royalty payment by Hilcorp North Slope, LLC to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter. The amount of revenue is determined by multiplying Royalty Production for each day in the calendar quarter by the Per Barrel Royalty for that day. Pursuant to the Trust Agreement, the Per Barrel Royalty for any day is the WTI Price for the day less the sum of (i) Chargeable Costs multiplied by the Cost Adjustment Factor and (ii) Production Taxes.

For the three months ended December 31, 2021 the Per Barrel Royalty was calculated based on the following information:

 

Average WTI Price

   $ 76.91  

Average Adjusted Chargeable Costs

   $ 62.60  

Average Production Taxes

   $ 2.73  

Average Per Barrel Royalty

   $ 11.57  

Average Net Production (mb/d)

     71.4  

The average daily closing WTI price was above the “break-even” price for the quarter, resulting in a quarterly payment with respect to the Royalty Interest of $12,801,452 to the Trust, after the addition of $333,880 representing an underpayment to the Trust for quarter ended September 30, 2021. In accordance with the Trust Agreement, the Trustee will pay all accrued expenses of the Trust, then distribute the excess, if any, of the cash received by the Trust over the Trust’s expenses to unit holders. After paying the Trust’s expenses accrued through December 31, 2021, $12,437,101 is available for distribution to unitholders.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release are subject to a number of risks and uncertainties beyond the control of the Trustee. The actual results, performance and prospects of the Trust could differ materially from those expressed or implied by forward-looking statements. Descriptions of some of the risks that could affect the future performance of the Trust appear in the


The following information was filed by Bp Prudhoe Bay Royalty Trust (BPT) on Thursday, January 6, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Bp Prudhoe Bay Royalty Trust's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Bp Prudhoe Bay Royalty Trust provided additional information to their SEC Filing as exhibits

Ticker: BPT
CIK: 850033
Form Type: 10-K Annual Report
Accession Number: 0001193125-22-074822
Submitted to the SEC: Mon Mar 14 2022 5:47:43 PM EST
Accepted by the SEC: Tue Mar 15 2022
Period: Friday, December 31, 2021
Industry: Petroleum Refining

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