---
schema_version: "secwatch.filing_event.v1"
accession: "0000072633-24-000007"
form_type: "8-K"
ticker: "NRT"
cik: "0000072633"
company_name: "NORTH EUROPEAN OIL ROYALTY TRUST"
filed_at: "2024-02-16T23:59:59+00:00"
generated_at: "2026-06-06T00:30:30.263551+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# North European Oil Royalty Trust Q1 net income down 98.1% to $179K; distribution cut to $0.05/unit

## Summary
- Total royalty income of $424,910, down 95.6% YoY from $9.77M, impacted by €1.99M negative prior-period adjustments.
- Net income of $179,085, down 98.1% from $9.54M; distribution per unit $0.05 vs $1.00 a year ago.
- Gas prices under Mobil Agreement fell 72.8% YoY; gas sales down 8.4% under Mobil, 13.9% under OEG.
- Trustees anticipate higher Q2 distribution as negative carryover adjustments will be fully offset after mid-February.
- Trust expenses essentially flat at $253,285 vs $252,792.

## SEC filing metadata
- accession: 0000072633-24-000007
- form_type: 8-K
- ticker: NRT
- cik: 0000072633
- company_name: NORTH EUROPEAN OIL ROYALTY TRUST
- filed_at: 2024-02-16T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/72633/000007263324000007/0000072633-24-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/72633/000007263324000007/ek021624.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000072633-24-000007
- JSON: https://secwatch.observer/filing/0000072633-24-000007.json
- Plain text: https://secwatch.observer/filing/0000072633-24-000007.txt

## Key facts
- Earnings Releases
  NORTH EUROPEAN OIL ROYALTY TRUST reported the first quarter of fiscal 2024 results: revenue $424,910, net income $179,085.
  - Period: the first quarter of fiscal 2024
  - Revenue: $424,910
  - Net income: $179,085
  - Result: reported results
  source text: were no prior period adjustments and no Mobil sulfur royalties. 1st Fiscal Quarter Ended 1/31/2024 1st Fiscal Quarter Ended 1/31/2023 Percentage Change Total Royalty Income $424,910 $9,765,883 -95.6% Net Income $179,085 $9,536,014 -98.1% Distributions per Unit $0.05 $1.00 -95.0% Following a prolonged decline in gas prices starting with the second quarter of
  evidence_url: https://www.sec.gov/Archives/edgar/data/72633/000007263324000007/0000072633-24-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.