BP Prudhoe Bay Royalty Trust (BPT) shares surged 12.61% in after-hours on Thursday, January 06, 2021, and closed the daily trading at $5.00. Even in the regular trading session of Thursday, BPT’s stock gained 2.30. BPT shares have risen 33.33% over the last 12 months, and they have moved up 17.15% in the past week. Over the past three months, the stock has gained 19.03%, while over the past six months, it has declined 6.53%.
Let’s check out its recent news and developments.
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BPT schedule of upcoming Dividend payment
On January 06, 2022, BP Prudhoe Bay Royalty Trust (BPT) announced that unitholders will receive a dividend for the fourth quarter ended December 31, 2021.
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The company announced the ex-Dividend date of January 14, 2021, and the dividend record date will be January 18. The dividend rate will be $0.5811729 and will be paid on January 19, 2021.
For Q4 2021, the Per Barrel Royalty was calculated based on the following information:
| Average WTI Price | $76.91 |
| Average Adjusted Chargeable Costs | $62.60 |
| Average Production Taxes | $2.73 |
| Average Per Barrel Royalty | $11.57 |
| Average Net Production (mb/d) | 71.4 |
Q3 2021 Dividend declaration
On October 6, 2021, BP Prudhoe Bay Royalty Trust (BPT) announced
the dividend rate of $0.0694308 per Unit for the third quarter of 2021. The dividend was paid on October 20, 2021.
BPT latest financial results
On November 9, 2021, BP Prudhoe Bay Royalty Trust (BPT) released its financial results for the third quarter of 2021 which ended on September 30, 2021.
Q3 2021 financial highlights
- BPT’s total royalty revenue was $3.3 million in Q3 2021 compared to Nil revenue in Q3 2020.
- Administrative expenses were $1.1 million in Q3 2021 compared to $0.8 million in Q3 2020.
- It suffered a cash loss of $2.17 million in Q3 2021 compared to the Zero loss in Q3 2020.
- The trust ended the third quarter with cash and cash equivalents of $1.77 million.
Conclusion
The recent announcement about dividend declaration was the reason behind its gains on Thursday. we hope that it will continue its momentum on Friday as well.
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About the Trust
BP Prudhoe Bay Royalty Trust was created as a Delaware business trust according to a Trust Agreement dated February 28, 1989, among The Standard Oil Company, BP Exploration (Alaska) Inc. (now known as Hilcorp North Slope, LLC, The Bank of New York Mellon, as trustee, and BNY Mellon Trust of Delaware (successor to The Bank of New York (Delaware)), as co-trustee. On December 15, 2010, The Bank of New York Mellon resigned as trustee and was replaced by The Bank of New York Mellon Trust Company, N.A., a national banking association, as successor trustee.
