Mesa Royalty Trust declares $0.1852/unit November distribution; warns of materially reduced 2022 distributions

MESA ROYALTY TRUST/TX

Distribution of $0.185205910 per unit, record date Nov 30, 2022, payable Jan 31, 2023.
Distributable net profits $345,148 from New Mexico San Juan Basin ($265,426) and Hugoton Royalty ($105,067); no Colorado income.
Trust intends to increase cash reserves to $2.0M in 2022, materially reducing distributions.
Accumulated excess production costs may further decrease or eliminate future distributions.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MESA ROYALTY TRUST/TX reported the month of November 2022 results: net income $345,148.

Period: the month of November 2022
Net income: $345,148
Result: reported results

Exact text from the filing

Mesa Royalty Trust (the “Trust”) (NYSE symbol-MTR) announced today the Trust income distribution for the month of November 2022. Unitholders of record on November 30, 2022 will receive distributions amounting to $0.185205910 per unit, payable on January 31, 2023. The Trust received $265,426, which came from the New Mexico portion of the Trust’s San Juan Basin properties operated by Hilcorp San Juan LP, an affiliate of Hilcorp Energy Company and $105,067 which came from the Hugoton Royalty properties operated by Scout Energy Group V, LP. No income was received in November 2022 from the Colorado portion of the Trust’s San Juan Basin properties operated by SIMCOE LLC, an affiliate of IKAV Energy Inc or from the Colorado portion of the Trust’s San Juan Basin properties operated by Red Willow Production Company. This month, after the Trust’s withholding for cash reserves and the payment of administrative expenses, income from the distributable net profits was $345,148.

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Source: SEC EDGAR

accession 0001104659-22-120340

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