Tue, Nov 12, 7:16 PM (21 days ago)
Chesapeake Granite Wash Trust (CHKR) reported its Q3 2024 results, reflecting a 14% increase in distributable income to $945,000 compared to Q3 2023, driven primarily by reduced administrative expenses. However, year-to-date distributable income fell 55% to $2.98 million due to declining production volumes and lower commodity prices. Royalty income decreased 8% in Q3 2024, totaling $1.73 million, with average realized prices per barrel of oil equivalent increasing, but overall production volumes declining significantly. Total assets rose slightly to $10.31 million, with cash reserves of $3.27 million. The Trust announced plans to cease voluntary SEC reporting to cut administrative costs, which could impact the liquidity and market perception of its units. The Trust remains exposed to commodity price volatility and geopolitical risks, particularly from ongoing conflicts affecting energy markets. Future operations may continue to be challenged by production declines and uncertainties in market conditions.