Revenue Update on BP Prudhoe Bay Royalty Trust(NYSE:BPT)

BP Prudhoe Bay Royalty Trust(NYSE:BPT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Earnings per share were $0.07.

BP Prudhoe Bay Royalty Trust (BPT) made into the market gainers list on Wednesdays trading session with the shares advancing 2.07% or 0.35 points. Due to strong positive momentum, the stock ended at $17.29, which is also near the day’s high of $17.52. The stock began the session at $17.25 and the volume stood at 1,92,101 shares. The 52-week high of the shares is $49.18 and the 52 week low is $11.29. The company has a current market capitalization of $370 M and it has 2,14,00,000 shares in outstanding.

BP Prudhoe Bay Royalty Trust is a grantor trust. The property of the Trust consists of an overriding royalty interest (the Royalty Interest) and cash and cash equivalents held by the Trustee from time to time. The Royalty Interest entitles the Trust to a royalty on 16.42% of the lesser of the first 90000 barrels of the average actual daily net production of crude oil and condensate per quarter from the working interest of BP Alaska in the Prudhoe Bay oil field located on the North Slope in Alaska; or the average actual daily net production of crude oil and condensate per quarter from that working interest. The Prudhoe Bay field is one of four contiguous North Slope oil fields that are operated by BP Alaska and are known collectively as the Prudhoe Bay Unit. The trustees of the Trust are The Bank of New York Mellon Trust Company N.A. and BNY Mellon Trust of Delaware a Delaware banking corporation. BNY Mellon Trust of Delaware serves as co-trustee.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *