BP PRUDHOE BAY ROYALTY TRUST: Nasdaq/NYSE listing notice — BP Prudhoe Bay Royalty Trust terminates after no revenue for two years; winding up commenced

BP PRUDHOE BAY ROYALTY TRUST

No Q4 2024 distribution; average per-barrel royalty was -$23.19 on WTI of $70.32.
Trust terminated Dec 31, 2024 because net revenues < $1M for two successive years.
Trustee begins wind-up; HNS has 30-day option to buy assets for ≥ $11,641,600.
NYSE notified BPT of non-compliance due to average unit price < $1 over 30 days.
No revenues received for any quarter in 2023 or 2024; no cash flow since 2022.

item 2.02 item 3.01 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

BP PRUDHOE BAY ROYALTY TRUST received a nyse deficiency notice notice regarding minimum bid price (rules 802.01C).

Exchange: nyse
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 802.01C

Exact text from the filing

December 31, 2024, the Trust received written notification (the “Notice”) from the New York Stock Exchange (“NYSE”) that as of December 30, 2024, the Trust no longer satisfied the continued listing compliance standards s

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

BP PRUDHOE BAY ROYALTY TRUST received a nyse deficiency notice notice regarding minimum bid price (rules 802.01C).

Exchange: nyse
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 802.01C

Exact text from the filing

December 31, 2024, the Trust received written notification (the “Notice”) from the New York Stock Exchange (“NYSE”) that as of December 30, 2024, the Trust no longer satisfied the continued listing compliance standards set forth under Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Trust’s units of beneficial interest (the “Units”) was less than $1.00 over a 30 consecutive trading-day period. Upon receipt of the Notice, the Trust became subject to the procedures outlined in Section 802.01C of the NYSE Listed Company Manual and the Trust must bring the

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Source: SEC EDGAR

accession 0001193125-25-002164

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