Sector: Energy | Industry: Integrated Oil & Gas |
Company Contact | |
Address: | 601 Travis Street, Floor 16 HOUSTON TX 77002 |
Tel: | N/A |
Website: | https://voc.q4web.com/home/default.aspx |
IR: | See website |
Key People | ||
J. Michael Vess President, Chief Executive Officer of Vess Oil | Barry Hill Chief Financial Officer, Vice President of Vess Oil | William R. Horigan Vice President - Operations of Vess Oil |
Brian Gaudreau Vice President - Land and Acquisitions of Vess Oil | Alan Howarter Vice President - Financial Reporting of Vess Oil |
Business Overview |
VOC Energy Trust (the Trust) is a statutory trust formed by VOC Brazos Energy Partners, L.P. (VOC Brazos). The Trust is managed by The Bank of New York Mellon Trust Company, N.A., as trustee (the Trustee). The Trust is created to acquire and hold the net profits interest for the benefit of the trust unitholders. VOC Brazo's properties included interests in approximately 739 gross (454.6 net) producing wells and included 81,095 gross (50,310.7 net) acres. The underlying properties are interests in developing properties located in the oil and natural gas producing regions of Kansas and Texas. The fields in the Central Kansas Uplift include Fairport Field, Marcotte Field and Chase-Silica Field. The fields in Western Kansas include the Bindley, Griston SW and Rosa Northwest fields. The fields in South Central Kansas include the Gerberding, Spivey Grabs and Alford fields, which are produced primarily from the Mississippian, Simpson and Lansing Kansas City zones. |
Financial Overview |
For the three months ended 31 March 2024, VOC Energy Trust revenues decreased 17% to $3.6M. Net income decreased 17% to $3.2M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Dividend per share decreased from $0.23 to $0.18. Basic Earnings per Share excluding Extraordinary Items decreased from $0.23 to $0.19. |