No Dividend Payment Announced for Q3 2024

  • BP Prudhoe Bay Royalty Trust announces no unit payment for Q3 2024
  • Dividend information: Ex-Dividend Date – October 14, Record Date – October 15, Payable Date – None
  • Per Barrel Royalty calculated based on average WTI Price $75.20, Average Adjusted Chargeable Costs $90.90, Average Production Taxes $2.61, Average Net Production (mb/d) 59.6
  • Payment calculation resulted in a negative value due to average daily closing WTI price below ‘break-even’ price
  • No payment will be less than zero as per Trust Agreement
  • Forward-looking statements subject to risks and uncertainties beyond the control of the Trustee

BP Prudhoe Bay Royalty Trust (BPT) has announced that unitholders will not receive a dividend payment for the quarter ended September 30, 2024. The Trust’s calculation of the quarterly royalty payment is based on daily revenues attributed to the Trust by Hilcorp North Slope, LLC, with the Per Barrel Royalty determined by subtracting Chargeable Costs and Production Taxes from the WTI Price. Due to the average daily closing WTI price falling below the ‘break-even’ price, the payment calculation resulted in a negative value for Q3 2024. However, as per the Trust Agreement, the payment cannot be less than zero.

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about BP Prudhoe Bay Royalty Trust’s dividend payment for the quarter ended September 30, 2024. It explains the calculation of Per Barrel Royalty and mentions forward-looking statements with appropriate cautionary language.
Noise Level: 3
Noise Justification: The article provides specific financial information about a dividend payment for BP Prudhoe Bay Royalty Trust and includes forward-looking statements. However, it lacks analysis or context that would make it more engaging or informative for a broader audience.
Public Companies: BP Prudhoe Bay Royalty Trust (BPT)
Private Companies: Hilcorp North Slope, LLC
Key People:

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Financial Relevance: Yes
Financial Markets Impacted: Yes
Financial Rating Justification: The article discusses BP Prudhoe Bay Royalty Trust’s decision not to pay a dividend for the quarter ended September 30, 2024 due to the average daily closing WTI price being below the ‘break-even’ price. This impacts the financial markets as it affects the trust’s financial performance and its unitholders. The article also mentions forward-looking statements related to potential risks that could affect the Trust’s future performance, which may impact investors and financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
Move Size: No market move size mentioned.
Sector: Energy
Direction: Down
Magnitude: Large
Affected Instruments: Stocks

Reported publicly: www.businesswire.com