Chesapeake Granite Wash Trust Announces Additional Distribution of $0.0087 Per Common Unit

Chesapeake Granite Wash Trust (OTC Markets Group, Inc.:CHKR) (the “Trust”) today announced an additional common unit distribution for the quarter ended March 31, 2024 (which primarily relates to production attributable to the Trust’s royalty interests from December 1, 2023 through February 29, 2024) in the amount of $0.0087 per common unit. The total common unit distribution of $0.0185, consisting of the initial common unit distribution of $0.0098 and this additional common unit distribution, will be paid on May 30, 2024 to common unitholders of record at the close of business on May 20, 2024.

The additional distribution was due to the following change in the calculation of the distributable income available to unitholders:

• Actual trust administrative expenses were lower than the estimated amount set forth in the Trust’s May 3, 3024 press release ($192 thousand vs $595 thousand)

The following table provides supporting detail for the amended calculation of distributable income available to unitholders for the production period from December 1, 2023 through February 29, 2024. The additional common unit distribution is due to the difference between the amended calculated distributable income per common unit of $0.0185 and the prior calculated distributable income per common unit of $0.0098.

Sales volumes:
Oil (mbbl)		10
Natural gas (mmcf)		229
Natural gas liquids (mbbl)		18
Total oil equivalent volumes (mboe)		66
Average price received per production unit:(1)