Freeport-McMoRan Oil and Gas Royalty Trust Makes Announcement
HOUSTON--(BUSINESS WIRE)--Aug. 8, 2001--Freeport-McMoRan Oil and Gas Royalty Trust (OTCBB:FMOLS) announced that for the month of June 2001 the Trust's Gross Proceeds exceeded the Class A costs by $432,267. As a result of the above, the Class A cost carry-forward has decreased to $14,593,266. In addition, net current month Trust administrative expenses of $39,897 were paid from the Trust administrative reserve resulting in $335,742 remaining in the expense reserve.
For the month, Gross Proceeds included oil and condensate revenues of approximately $447,135 and gas revenues of approximately $265,456 from sales volumes of 16,458 barrels and 47,993 mcf, respectively, net to the Trust's interest. Class A costs included $148,037 in operating and transportation costs and $38,378 in capital expenditure related to workover activities on West Cameron 498, net to the Trust's interest. Class A costs also included $93,910 in interest charges related to the Class A cost carry-forward. |
