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Chesapeake Granite Wash Trust (CHKR+2.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing indicates that Chesapeake Granite Wash Trust is a voluntary filer and will cease filing periodic reports with the SEC. The Trust will continue to make financial information available on its website and through the OTC Markets.
The Trust's common units have been quoted on the OTC Markets Pink Open Market since March 2, 2020, under the symbol 'CHKR'. The Trust anticipates that the common units will remain quoted on the OTC Pink.
For the three months ended September 30, 2024, the Trust reported distributable income of $945,000, or $0.0202 per common unit, compared to $832,000, or $0.0178 per common unit, for the same period in 2023.
Royalty income for the quarter was $1,731,000, down from $1,878,000 in the same quarter of the previous year. This decrease is attributed to natural production declines.
Production tax expenses for the quarter were $109,000, compared to $166,000 for the same period in 2023.
Trust administrative expenses for the quarter decreased to $578,000 from $781,000 in the same quarter of the previous year.
The Trust's Investment in Royalty Interests was not impaired during the quarter. The Trust's revenues and distributions are dependent on oil, natural gas, and NGL prices, which have been volatile.
The Trust's quarterly income available for distribution was $0.0267 per common unit for the production period from June 1, 2024, to August 31, 2024. The distribution will be paid on November 29, 2024.
The Trust is a Delaware statutory trust treated as a partnership for U.S. federal income tax purposes and is not required to pay federal or state income taxes.
The Trust's business activities are limited to owning royalty interests and distributing cash to unitholders. The Trust's termination date is June 30, 2031, unless certain conditions are met earlier.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Chesapeake Granite Wash Trust Units quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.