{"id":768201,"date":"2023-07-06T17:59:08","date_gmt":"2023-07-06T21:59:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bp-prudhoe-bay-royalty-trust-announces-no-unit-payment-for-the-second-quarter-of-2023\/"},"modified":"2023-07-06T17:59:08","modified_gmt":"2023-07-06T21:59:08","slug":"bp-prudhoe-bay-royalty-trust-announces-no-unit-payment-for-the-second-quarter-of-2023","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bp-prudhoe-bay-royalty-trust-announces-no-unit-payment-for-the-second-quarter-of-2023\/","title":{"rendered":"BP Prudhoe Bay Royalty Trust Announces No Unit Payment for the Second Quarter of 2023"},"content":{"rendered":"<p>        <!--.bwalignl { text-align: left }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignc { margin-left: auto; margin-right: auto }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwpadl0 { padding-left: 0px }\n.bwpadr0 { padding-right: 0px }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth12 { width: 12% }\n.bwwidth30 { width: 30% }\n.bwwidth40 { width: 40% }\n.bwwidth48 { width: 48% }\n.bwwidth70 { width: 70% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p>\nBP Prudhoe Bay Royalty Trust Announces No Unit Payment for the Second Quarter of 2023<\/p>\n<p>HOUSTON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nBP Prudhoe Bay Royalty Trust (NYSE: BPT) announced that unitholders will not receive a dividend payment for the quarter ended June 30, 2023. The dividend information is as follows:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth70\">\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignl bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nEx-Dividend Date:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl bwwidth48\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nJuly 14, 2023<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignl bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nRecord Date:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl bwwidth48\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nJuly 17, 2023<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignl bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nPayable Date:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl bwwidth48\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nNone<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwalignl bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nDividend Rate:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl bwwidth48\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n$0.00 per Unit<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nAs provided in the Trust Agreement, the quarterly royalty payment by Hilcorp North Slope, LLC to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter. The amount of revenue is determined by multiplying Royalty Production for each day in the calendar quarter by the Per Barrel Royalty for that day. Pursuant to the Trust Agreement, the Per Barrel Royalty for any day is the WTI Price for the day less the sum of (i) Chargeable Costs multiplied by the Cost Adjustment Factor and (ii) Production Taxes.<\/p>\n<p>\nFor the three months ended June 30, 2023, the Per Barrel Royalty was calculated based on the following information:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignc bwwidth70\">\n<tr>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage WTI Price<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$73.76<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage Adjusted Chargeable Costs<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$81.38<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage Production Taxes<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$ 2.57<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage Per Barrel Royalty<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$ (10.19<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage Net Production (mb\/d)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n65.9<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nThe average daily closing WTI price was below the \u201cbreak-even\u201d price for the quarter, resulting in a negative value for the payment calculation for the quarter. However, as provided in the Trust Agreement, the payment with respect to the Royalty Interest for any calendar quarter may not be less than zero.<\/p>\n<p>\nFORWARD LOOKING STATEMENTS<\/p>\n<p>\nThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release are subject to a number of risks and uncertainties beyond the control of the Trustee. The actual results, performance and prospects of the Trust could differ materially from those expressed or implied by forward-looking statements. Descriptions of some of the risks that could affect the future performance of the Trust appear in the Trust\u2019s Annual Report on Form 10-K for the year ended December 31, 2022, the Trust\u2019s subsequent Quarterly Reports on Form 10-Q, and the Trust\u2019s other filings with the Securities and Exchange Commission. The Trust\u2019s annual, quarterly and other filed reports are or will be available over the Internet at the SEC\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=53440814&amp;newsitemid=20230706632226&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.sec.gov&amp;index=1&amp;md5=851f84fdf034b527ec96e994166de1e6\">http:\/\/www.sec.gov<\/a>. Neither the Trust nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230706632226r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230706632226\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230706632226\/en\/<\/a><\/span><\/p>\n<p>\nElaina Rodgers<br \/>\n<br \/>Vice President<br \/>\n<br \/>The Bank of New York Mellon Trust Company, N.A.<br \/>\n<br \/>713-483-6020<\/p>\n<p><b>KEYWORDS:<\/b> Texas United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Oil\/Gas Energy<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>BP Prudhoe Bay Royalty Trust Announces No Unit Payment for the Second Quarter of 2023 HOUSTON&#8211;(BUSINESS WIRE)&#8211; BP Prudhoe Bay Royalty Trust (NYSE: BPT) announced that unitholders will not receive a dividend payment for the quarter ended June 30, 2023. The dividend information is as follows: Ex-Dividend Date: \u00a0 July 14, 2023 Record Date: \u00a0 July 17, 2023 Payable Date: \u00a0 None Dividend Rate: \u00a0 $0.00 per Unit As provided in the Trust Agreement, the quarterly royalty payment by Hilcorp North Slope, LLC to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter. The amount of revenue is determined by multiplying Royalty Production for each day in the calendar &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bp-prudhoe-bay-royalty-trust-announces-no-unit-payment-for-the-second-quarter-of-2023\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;BP Prudhoe Bay Royalty Trust Announces No Unit Payment for the Second Quarter of 2023&#8221;<\/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-768201","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BP Prudhoe Bay Royalty Trust Announces No Unit Payment for the Second Quarter of 2023 - 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\/bp-prudhoe-bay-royalty-trust-announces-no-unit-payment-for-the-second-quarter-of-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BP Prudhoe Bay Royalty Trust Announces No Unit Payment for the Second Quarter of 2023 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BP Prudhoe Bay Royalty Trust Announces No Unit Payment for the Second Quarter of 2023 HOUSTON&#8211;(BUSINESS WIRE)&#8211; BP Prudhoe Bay Royalty Trust (NYSE: BPT) announced that unitholders will not receive a dividend payment for the quarter ended June 30, 2023. The dividend information is as follows: Ex-Dividend Date: \u00a0 July 14, 2023 Record Date: \u00a0 July 17, 2023 Payable Date: \u00a0 None Dividend Rate: \u00a0 $0.00 per Unit As provided in the Trust Agreement, the quarterly royalty payment by Hilcorp North Slope, LLC to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/bp-prudhoe-bay-royalty-trust-announces-no-unit-payment-for-the-second-quarter-of-2023\/","og_locale":"en_US","og_type":"article","og_title":"BP Prudhoe Bay Royalty Trust Announces No Unit Payment for the Second Quarter of 2023 - Market Newsdesk","og_description":"BP Prudhoe Bay Royalty Trust Announces No Unit Payment for the Second Quarter of 2023 HOUSTON&#8211;(BUSINESS WIRE)&#8211; BP Prudhoe Bay Royalty Trust (NYSE: BPT) announced that unitholders will not receive a dividend payment for the quarter ended June 30, 2023. The dividend information is as follows: Ex-Dividend Date: \u00a0 July 14, 2023 Record Date: \u00a0 July 17, 2023 Payable Date: \u00a0 None Dividend Rate: \u00a0 $0.00 per Unit As provided in the Trust Agreement, the quarterly royalty payment by Hilcorp North Slope, LLC to the Trust is the sum of the individual revenues attributed to the Trust as calculated each day during the quarter. 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