Energy Resources 12 suspends monthly distributions; cites lower oil prices and production decline

ENERGY RESOURCES 12, L.P.

Total distributions paid since inception (2017) are ~$12.47 per unit, less than IPO price of $20/unit.
Partnership has $6.4M outstanding on $10M revolver; collateralized by assets with $156M net book value.
Board pauses monthly distributions indefinitely; unpaid distributions accrue at 7% annualized return.
Operations remain cash flow positive; cash flow to be used for debt repayment and new well drilling.
Owns ~5% non-operated working interest in 450 producing Bakken wells; operators include ConocoPhillips, Devon, EOG, Hess.

item 8.01item 9.01

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