other material
confidence high
sentiment negative
materiality 0.60
Mesa Royalty Trust corrects Sept. distribution to $0.1866/unit; notes reduced future distributions
MESA ROYALTY TRUST/TX
- Corrected distribution: $0.186638855 per unit, payable Oct 31, 2022 to unitholders of record Sept 30, 2022.
- Total distributable income $347,818: $275,783 from New Mexico San Juan (Hilcorp) and $115,890 from Hugoton (Scout).
- No income received from Colorado San Juan Basin properties operated by SIMCOE/IKAV or Red Willow.
- Trust plans to increase cash reserves to $2.0 million during 2022, materially reducing distributions.
- Accumulated excess production costs may further decrease or eliminate future distributions to unitholders.