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Exhibit 99.1

 

VOC Energy Trust

 

VOC Energy Trust Announces Trust Quarterly Distribution

 

VOC ENERGY TRUST

The Bank of New York Mellon Trust Company, N.A., Trustee

 

NEWS RELEASE

 

FOR IMMEDIATE RELEASE

 

Austin, Texas, July 20, 2017 — VOC Energy Trust (NYSE Symbol — VOC) announced the Trust distribution of net profits for the second quarterly payment period ended June 30, 2017.

 

Unitholders of record on July 31, 2017 will receive a distribution amounting to $1,870,000 or $0.11 per unit, payable August 14, 2017.

 

Volumes, average sales prices and net profits for the payment period were:

 

Sales volumes:

 

 

 

Oil (Bbl)

 

137,793

 

Natural gas (Mcf)

 

83,055

 

Total (BOE)

 

151,636

 

Average sales prices:

 

 

 

Oil (per Bbl)

 

$

46.07

 

Natural gas (per Mcf)

 

$

2.83

 

Gross proceeds:

 

 

 

Oil sales

 

$

6,348,263

 

Natural gas sales

 

235,237

 

Total gross proceeds

 

$

6,583,500

 

Costs:

 

 

 

Lease operating expenses

 

$

2,804,648

 

Production and property taxes

 

545,039

 

Development expenses

 

558,379

 

Total costs

 

$

3,908,066

 

Net proceeds

 

$

2,675,434

 

Percentage applicable to Trust’s Net Profits Interest

 

 80

%

Net profits interest

 

$

2,140,348

 

Increase in cash reserve held by VOC Brazos Energy Partners, L.P.

 

0

 

Total cash proceeds available for the Trust

 

$

2,140,348

 

Provision for estimated Trust expenses

 

(270,348

)

Net cash proceeds available for distribution

 

$

1,870,000

 

 

This press release contains forward-looking statements. Although VOC Brazos Energy Partners, L.P. has advised the Trust that VOC Brazos Energy Partners, L.P. believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date with respect to the quarter ended June 30, 2017.  Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, and other risk factors described in the Trust’s Form 10-K for the year ended December 31, 2016 filed with the Securities and Exchange Commission. Statements made in

 



 

this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligation, to update any of the statements included in this press release.

 

Contact:

 

VOC Energy Trust

 

 

The Bank of New York Mellon Trust Company, N.A., as Trustee

 

 

Mike Ulrich

 

 

(512) 236-6599

 

 

919 Congress Avenue, Austin, TX 78701

 

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