North European Oil Royalty Trust Q2 net income jumps 197% to $3.56M; distribution $0.38/unit

NORTH EUROPEAN OIL ROYALTY TRUST

Net income of $3.56M vs $1.20M YoY; distribution $0.38/unit, up 171% from $0.14.
Total royalty income $3.77M, +169% on higher gas prices under Mobil and OEG agreements.
Gas prices surged ~234% under both agreements despite 9-17% lower sales volumes.
Six-month net income $5.91M ($0.63/unit), up 351% vs $1.31M ($0.18/unit) prior year.
Distribution of $0.38/unit payable May 25, 2022 to holders of record May 13, 2022.

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