{"id":401366,"date":"2020-12-16T16:36:08","date_gmt":"2020-12-16T21:36:08","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=401366"},"modified":"2020-12-16T16:36:08","modified_gmt":"2020-12-16T21:36:08","slug":"mesa-royalty-trust-announces-there-will-be-no-distribution-for-december-2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mesa-royalty-trust-announces-there-will-be-no-distribution-for-december-2020\/","title":{"rendered":"Mesa Royalty Trust Announces There Will Be No Distribution for December 2020"},"content":{"rendered":"

<\/p>\n

Mesa Royalty Trust Announces There Will Be No Distribution for December 2020<\/b><\/p>\n

HOUSTON–(BUSINESS WIRE<\/a>)–
\nMesa Royalty Trust (the \u201cTrust\u201d) (NYSE: MTR) announced today that there will be no distribution paid for the month ended December 2020 to holders of record as of the close of business on December 31, 2020, as costs, charges and expenses attributable to the Trust\u2019s royalty properties, and applicable reserves, exceeded the revenue received from the sale of oil, natural gas and other hydrocarbons produced from such properties, as reported by the working interest owners.\n<\/p>\n

\nThe Trust was formed to own an overriding royalty interest of the net proceeds attributable to the specified interest in certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust’s filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust\u2019s administrative expenses, among other factors. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by the volatility in commodity prices. There has been a substantial decrease in oil and natural gas prices in 2020 due in part to significantly decreased demand as a result of the COVID-19 pandemic and an oversupply of crude oil. Oil and natural gas prices could remain low for an extended period of time, which in turn could have a material adverse effect on Trust distributions. Continued low oil and natural gas prices, among other things, will reduce proceeds to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.\n<\/p>\n

\nThis press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, and other factors described in the Trust\u2019s Form 10-K for the year ended December 31, 2019 under \u201cPart I, Item 1A. Risk Factors,\u201d the Trust\u2019s Form 10-Q for the quarter ended March 31, 2020 under \u201cPart II, Item 1A. Risk Factors,\u201d the Trust\u2019s Form 10-Q for the quarter ended June 30, 2020 under \u201cPart II, Item 1A. Risk Factors\u201d and the Trust\u2019s Form 10-Q for the quarter ended September 30, 2020 under \u201cPart II, Item 1A. Risk Factors.\u201d Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201216005986\/en\/<\/a><\/span><\/p>\n

\nMesa Royalty Trust
\n
The Bank of New York Mellon Trust Company, N.A., as Trustee
\n<\/b>
Elaina Rodgers
\n<\/b>
713-483-6020<\/b><\/p>\n

KEYWORDS:<\/b> Texas United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Oil\/Gas Energy<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Mesa Royalty Trust Announces There Will Be No Distribution for December 2020 HOUSTON–(BUSINESS WIRE)– Mesa Royalty Trust (the \u201cTrust\u201d) (NYSE: MTR) announced today that there will be no distribution paid for the month ended December 2020 to holders of record as of the close of business on December 31, 2020, as costs, charges and expenses attributable to the Trust\u2019s royalty properties, and applicable reserves, exceeded the revenue received from the sale of oil, natural gas and other hydrocarbons produced from such properties, as reported by the working interest owners. The Trust was formed to own an overriding royalty interest of the net proceeds attributable to the specified interest in certain producing oil and gas properties located in the Hugoton field … <\/p>\n

Continue reading “Mesa Royalty Trust Announces There Will Be No Distribution for December 2020”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-401366","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMesa Royalty Trust Announces There Will Be No Distribution for December 2020 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mesa-royalty-trust-announces-there-will-be-no-distribution-for-december-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mesa Royalty Trust Announces There Will Be No Distribution for December 2020 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Mesa Royalty Trust Announces There Will Be No Distribution for December 2020 HOUSTON–(BUSINESS WIRE)– Mesa Royalty Trust (the \u201cTrust\u201d) (NYSE: MTR) announced today that there will be no distribution paid for the month ended December 2020 to holders of record as of the close of business on December 31, 2020, as costs, charges and expenses attributable to the Trust\u2019s royalty properties, and applicable reserves, exceeded the revenue received from the sale of oil, natural gas and other hydrocarbons produced from such properties, as reported by the working interest owners. 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