December 31, 2021 increased to 2,967 mcf from 1,965 mcf realized for the comparable period in 2020, and the average price realized for natural gas (net of expenses) increased to $5.56 per
mcf for the three months ended December 31, 2021 from $1.85 per mcf realized for the comparable period in 2020.
We did not receive
any income from distributions from Tidelands for the three months ended December 31, 2021 and 2020.
The following table presents the
quantities of oil and natural gas sold and the average price realized for the three months ended December 31, 2021, and those realized for the comparable period in 2020.
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Three Months Ended
December 31,
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2021
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2020
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(unaudited)
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Oil
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Bbls sold
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3,676
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2,512
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Average price
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$
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67.52
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$
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38.98
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Natural gas
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Mcf sold
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2,967
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1,965
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Average price, net of expenses
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$
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5.56
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$
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1.85
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General and administrative expenses decreased to $83,263 for the three months ended December 31, 2021
from $96,583 for the comparable period of 2020, primarily due to lower professional and printing costs.
Results of OperationsSix Months Ended
December 31, 2021 Compared to the Six Months Ended December 31, 2020
Income from oil and natural gas royalties, excluding
the Trusts interest in Tidelands, increased to $493,932 during the six months ended December 31, 2021 from $155,185 realized for the comparable period in 2020. Royalties increased for the six months ended December 31, 2021 primarily
due to an increase in the price and production of oil as well as an increase in the price and production of natural gas.
Distributable
income increased to $384,656 for the six months ended December 31, 2021 from $37,989 realized for the comparable period in 2020.
Income from oil royalties for the six months ended December 31, 2021 increased to $456,916 from $147,699 realized for the comparable
period in 2020. The volume of oil sold in the six months ended December 31, 2021 increased to 6,917 bbls from 4,659 bbls realized for the comparable period in 2020, and the average price realized for oil increased to $66.06 per bbl for the six
months ended December 31, 2021 from $31.70 per bbl realized for the comparable period in 2020.
Income from natural gas royalties
(net of expenses) for the six months ended December 31, 2021 increased to $37,016 from $7,487 for the comparable period in 2020. The volume of natural gas sold in the six months ended December 31, 2021 increased to 6,775 mcf from 4,118 mcf
realized for the comparable period in 2020, and the average price realized for natural gas (net of expenses) increased to $5.46 per mcf for the six months ended December 31, 2021 from $1.82 per mcf realized for the comparable period in 2020.
We did not receive any income from distributions from Tidelands for the six months ended December 31, 2021 and 2020.
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