Pacific Coast Oil Trust (ROYT) Announces No February Cash Distribution
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Pacific Coast Oil Trust Announces There Will Be No February Cash Distribution
January 25, 2016 4:15 PM ESTAUSTIN, Texas--(BUSINESS WIRE)-- PACIFIC COAST OIL TRUST (NYSE: ROYT) (the Trust), a perpetual royalty trust formed by Pacific Coast Energy Company LP (PCEC), announced today that there will be no cash distribution to the holders of its units of beneficial interest of record on February 5, 2016, as Trust administrative expenses and the PCEC operating and services fee exceeded the net profits for the Developed Properties and the 7.5% overriding royalty on the Remaining Properties from Orcutt Field and Orcutt Diatomite. The Trusts distribution calculation relates to PCEC operations during December 2015.
The net profits for the Developed... More
