Last10K.com

Bp Prudhoe Bay Royalty Trust (BPT) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

BPT Quarterly 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 First Quarter of 2022

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

NYSE: BPT) announced that unitholders will receive a dividend for the quarter ended March 31, 2022. The dividend information is as follows:

 

Ex-Dividend Date:    April 14, 2022
Record Date:    April 18, 2022
Payable Date:    April 20, 2022
Dividend Rate:    $1.0875353 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 March 31, 2022, the Per Barrel Royalty was calculated based on the following information:

 

Average WTI Price

   $ 94.45  

Average Adjusted Chargeable Costs

   $ 69.61  

Average Production Taxes

     $3.42  

Average Per Barrel Royalty

   $ 21.12  

Average Net Production (mb/d)

     73.5  

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 $23,813,974 to the Trust, after the addition of $760,579 representing an underpayment to the Trust for quarter ended December 31, 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 unitholders. After paying the Trust’s expenses accrued through March 31, 2022, $23,273,256 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 following information was filed by Bp Prudhoe Bay Royalty Trust (BPT) on Wednesday, April 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Bp Prudhoe Bay Royalty Trust's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Bp Prudhoe Bay Royalty Trust.

Continue

Assess how Bp Prudhoe Bay Royalty Trust's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

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

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Material Contracts, Statements, Certifications & more

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

Ticker: BPT
CIK: 850033
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-22-146326
Submitted to the SEC: Tue May 10 2022 4:20:20 PM EST
Accepted by the SEC: Tue May 10 2022
Period: Thursday, March 31, 2022
Industry: Petroleum Refining

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/bpt/0001193125-22-146326.htm