Gulf Coast Ultra Deep Royalty Trust Announces Quarterly Cash Distribution

Key Facts

• HOUSTON--()--Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) (the Trust) announced today that it will distribute to unitholders a cash distribution totaling $29,304 for the quarter ended September 30, 2021.
• Natural gas (Mcf) sales volumes, average sales price and net cash proceeds available for distribution for the quarter ended September 30, 2021 are set forth in the table below: Natural gas (Mcf) sales volumes (a) 52,667 Natural gas (per Mcf) average sales price $ 3.01 Gross proceeds $ 158,507 Post-production costs and specified taxes (23,876) Royalty income 134,631 Interest and dividend income 8 Administrative expenses (105,335) Income in excess of administrative expenses 29,304 Cash proceeds available for distribution $ 29,304 (a) Attributable to the onshore Highlander subject interest which is the only subject interest with commercial production.
• The Trust is a Delaware statutory trust created to hold a 5% gross overriding royalty interest in future production from specified Inboard Lower Tertiary/Cretaceous exploration prospects located in the shallow waters of the Gulf of Mexico and onshore in South Louisiana that existed as of December 5, 2012, which are collectively referred to as subject interests.
• As described in the Trust’s SEC filings, future distributions are not guaranteed and will depend on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, post-production costs and specified taxes, and the amount and timing of the Trust’s administrative expenses, among other factors.

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