VOC Energy Trust (NYSE: VOC) announced the Trust distribution of net profits for the first quarterly payment period ended March 31, 2024.

Unitholders of record on April 30, 2024 will receive a distribution amounting to $3,060,000 or $0.18 per unit, payable May 15, 2024.

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

Sales volumes:                                                                      
                                                                                       110,534  
  Oil (Bbl)
                                                                                        64,808  
  Natural gas (Mcf)
                                                                                       121,335  
   Total (BOE)
Average sales prices:                                                               
                                                                                                      $     71.25  
  Oil (per Bbl)
                                                                                                      $      3.10  
  Natural gas (per Mcf)
Gross proceeds:                                                                     
                                                                                                      $ 7,875,193  
  Oil sales
                                                                                       201,034  
  Natural gas sales
                                                                                                      -------------------- --------- --------------------
                                                                                                      $ 8,076,227  
   Total gross proceeds
Costs:                                                                              
                                                                                                      $ 3,312,352  
  Lease operating expenses
                                                                                       183,728  
  Production and property taxes
                                                                                       358,318  
  Development expenses
                                                                                                      -------------------- --------- --------------------
                                                                                                      $ 3,854,398  
   Total costs
                                                                                                      -------------------- --------- --------------------
Net proceeds                                                                                          $ 4,221,829  
Percentage applicable to Trust's Net Profits Interest            80                    %
                                                                                                      -------------------- --------- --------------------
                                                                                                      $ 3,377,463  
   Net profits interest
Increase in cash reserve held by VOC Brazos Energy Partners, L.P.                            0  
                                                                                                                           --------- --------------------
Total cash proceeds available for the Trust                                                           $ 3,377,463  
Provision for current estimated Trust expenses                                        (317,463                    )
                                                                                                                           --------- --------------------

This press release contains forward-looking statements. Although VOC Brazos has advised the Trust that VOC Brazos 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, 2024. 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, 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, 2023 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/20240418137871/en/

SOURCE: VOC Energy Trust

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

COMTEX_451048328/1006/2024-04-18T16:15:01