BP Prudhoe Bay Royalty Trust owns and administers a royalty interest in the daily net production of oil and condensate from the Prudhoe Bay Field located on the North Slope of Alaska. For the nine months ended 9/30/98, total revenues decreased 61% to $14 million. Net income decreased 62% to $13.4 million. Results suffered from a decrease in royalty revenues as a result of lower average WTI prices and an increase in trust administrative expenses
BP Prudhoe Bay Royalty Trust is a grantor trust established by The Standard Oil Company, BP Exploration (both subsidiaries of British Petroleum), and the Bank of New York to administer overriding royalty interests in Standard's Prudhoe Bay oil properties in Alaska. The trust distributes royalties on approximately 16.4% of the first 90,000 barrels of the average actual daily net production of oil and condensate per quarter from Standard's working interest in the Prudhoe Bay Unit. It has net proved reserves of 80.9 million barrels of oil.
Book Value: 9.80
52 week high: 16.87
52 week low: 4 1/2
closed at: 4 9/16
Div: 14.1%
outstanding : 21.4 mil
float : 19.9 mil
EPS: 1995 1.61
1996 1.94
1997 2.05
1st Q 1998 0.20 |
