Chesapeake Granite Wash Trust Announces Distribution of $0.0098 Per Common Unit - Seite 2
$
16.86
Distributable income calculation (in thousands except per unit income):
Revenue less production taxes(1)
$
1,154
Trust administrative expenses
(595)
Cash withheld to increase cash reserves(2)
(99)
Distributable income available to unitholders
$
460
Calculated distributable income per unit(3)
$
0.0098
(1) |
Includes the effect of certain marketing, gathering and transportation deductions. |
(2) |
The Trustee may increase or decrease the targeted amount of the cash reserve at any time, and may increase or decrease the rate at which it is withholding funds to build the cash reserve at any time, without advance notice to the unitholders. Without limiting the foregoing, the Trustee reviewed the adequacy and sufficiency of the existing cash reserve in 2021 and determined to withhold funds otherwise available for distribution to unitholders each quarter to increase existing cash reserves by a total of approximately $3,200,000 over a period of several quarters, commencing with the distribution to unitholders for the fourth quarter 2021 (payable in 2022). As of March 31, 2024 $1,759,578 has been so withheld to increase cash reserves. Cash held in reserve will be invested as required by the Trust Agreement. Any cash reserved in excess of the amount necessary to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities eventually will be distributed to unitholders, together with interest earned on the funds. |