- VOC Energy Trust (VOC, Financial) announces $0.13 per unit distribution for Q1 2025, payable on May 15, 2025.
- The Trust reported total gross proceeds of $7.81 million from oil and gas sales.
- Total costs stood at $4.71 million, with significant lease operating expenses and development costs.
VOC Energy Trust (VOC) has declared its quarterly distribution for the period ending March 31, 2025. Unitholders of record on April 30, 2025, will be entitled to receive a cash distribution amounting to $2,210,000, or $0.13 per unit. This distribution will be payable on May 15, 2025, providing an annualized yield of approximately 18.6%.
The Trust achieved significant production volumes during Q1 2025, with sales volumes totaling 119,496 barrels of oil equivalent (BOE). This includes 109,667 barrels of oil and 58,971 Mcf of natural gas. The realized average sales prices were $69.32 per barrel for oil and $3.57 per Mcf for natural gas. These sales resulted in substantial gross proceeds of $7,812,508, primarily driven by oil revenue.
Total costs for the period reached $4,706,321, consisting of $3,687,150 in lease operating expenses, $205,576 in production and property taxes, and $813,595 in development expenses. After applying the Trust's 80% net profits interest, net cash proceeds available amounted to $2,484,950, with $274,950 reserved for estimated Trust expenses.
With a market capitalization of $47.1 million, this distribution represents 4.7% of VOC's market cap. While the attractive yield might appeal to income-focused investors, it is crucial to remember that royalty trusts like VOC have finite lifespans due to the depletion of underlying reserves.
