10-Q - VOC Energy Trust (0001505413) (Filer)

Thu, Nov 7, 9:26 PM (67 days ago)

For the quarter ending September 30, 2024, VOC Energy Trust (VOC) reported a decrease in distributable income to $3,060,000, down from $3,570,000 in the same period in 2023, attributed to reduced oil and gas sales volumes. Revenue from net profits interest fell to $3,398,618 from $3,787,151 year-over-year, despite a 9.6% increase in average oil prices to $78.36 per barrel. Total gross proceeds from oil and natural gas sales slightly rose by 0.3%, indicating a shift in revenue dynamics due to market pricing. For the nine months ending September 30, 2024, gross proceeds decreased by 9.2% to $27,041,669, with both oil and natural gas sales volumes declining, likely influenced by severe winter weather impacts. Cash reserves remain stable, with $1,779,712 reported as of September 30, 2024. Future operations may be affected by ongoing market fluctuations and operational challenges, with no impairments noted in the investment in net profits interest. The Trust continues to maintain a cautious approach to distributions amid these uncertainties.