Wed, May 15, 9:02 PM (269 days ago)
For Q1 2024, Mesa Royalty Trust reported a significant decline in financial performance compared to Q1 2023. Royalty income dropped to $183,657 from $845,417, primarily due to lower commodity prices and production volumes, along with increased operating and capital expenses. Distributable income fell to $122,029 ($0.0655 per unit) from $724,430 ($0.3887 per unit). The Trust's assets decreased to $3,177,216 from $3,407,466 at year-end 2023. Cash reserves were increased to $1,762,256, aiming for a target of $2.0 million. Future distributions may be impacted by ongoing market volatility, high operating costs, and adjustments from Working Interest Owners.