Analyze up to 10 years of full 10K Annual Reports and Quarterly 10Q SEC filings for Bp Prudhoe Bay Royalty Trust (BPT) using our online tools to quickly find. BP Prudhoe Bay Royalty Trust (the “Trust”), a grantor trust, was created as a Delaware business trust pursuant to the BP Prudhoe Bay Royalty Trust Agreement. Prudhoe Bay Unit Operation and Ownership. Since several oil companies besides BP Alaska hold acreage within the Prudhoe Bay field, The Trust’s Royalty Interest pertains only to.

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Taxation of Unit Holders. Recent moves in crude oil prices have been affected by many factors. Unless the Trust already has a trustee that is a resident of or has a principal office in Delaware, any successor trustee must be a resident of Delaware or have a principal office in Delaware. The terms 10k- the Trust Agreement seek to assure to the extent practicable that income, expenses and deductions attributable to each distribution are reportable by the Unit holder who receives the distribution.

Unit holders must maintain records of their adjusted basis in their Units, make adjustments for depletion deductions to such basis, and use the adjusted basis for the computation of gain or loss on the disposition of the Units.

Trust Corpus 40, units of beneficial interest authorized, 21, units issued and outstanding.

BP Prudhoe Bay Royalty Trust

The Trustees disclosure prdhoe and procedures include ensuring that it receives on a timely basis the information and reports provided by the Company, that the appropriate responsible personnel of the Trustee examine such information and reports and that information requested from and provided by the Company is included in the reports that the Trust files or submits under the Exchange Act.

The rogalty were allowed to keep their large leases in exchange for promises to begin first oil production from Point Thomson by and to combine their competing projects. The Trustee can only borrow from an entity not affiliated with the Trustee. The Royalty Interest constitutes a non-operational interest in minerals.


The Trustee assumes that some Trust Units are held by a middleman, as such term is broadly defined in the U. Such amortization was charged directly to the Trust corpus, and did not affect cash earnings.

After the end of each calendar year, the Trustee mails a report to the persons who held Units of record during the year containing information to enable them to make the calculations necessary for federal and. The Trustee may cause bxy Trust to borrow any amount required to redeem the Units. The Royalty Interest is not a working interest and the Trust is not entitled to receive any specific volume of reserves from the Working Interests.

BP Prudhoe Bay Royalty Trust – Wikipedia

rpudhoe Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. However, pursuant to Internal Revenue Code sectioncertain depletion deductions claimed with respect to the Units must be recaptured as ordinary income upon sale bbay disposition of such interest.

This tax is in addition to the tax on effectively connected income. It is expected that the WTI market will remain oversupplied in the first half ofso more oil will likely enter storage in the coming months.

See Note 7 of Notes to Financial Statements below.

Consumer Price Index, all items and all urban consumers, U. State or other jurisdiction. For example, there is no requirement for annual meetings of holders of Units or annual or other periodic reelection of the Trustee.

The following table shows the net remaining proved reserves of oil and condensate allocated to the Subject Leases, the net proved reserves allocated to the Trust, and the WTI Prices on the dates indicated: The decrease in Production Taxes during the twelve-month period was primarily due to the modest decline in the production levels from the Working Interest for the pfudhoe period.

This may result from changes in the WTI Price or from changes in other prescribed variables utilized in calculations defined by the Overriding Royalty Conveyance. Royalty trusts typically pay enormous dividends by Wall Street standards, making them popular with investors, particularly during times when the price of oil is high, or other market sectors are performing poorly. Although Production Taxes decreased during following the effectiveness of the Act, the effect these changes will continue to have on Royalty Production is unpredictable.


The Trust does not engage in lrudhoe in foreign currencies which could expose the Trust or Unit holders to any foreign currency related market risk or invest in derivative financial instruments.

The Trust does not have an Internet web site from which information concerning the Trust may be obtained; however the Trust will make available free of charge upon request paper or electronic copies of its reports on Form K, Form Q and Form 8-K, and amendments to those reports, as soon as reasonably practicable after the Trust electronically files such material with the SEC.

The proposed timeline in the FERC application contemplates that a full application will be made in September If the Units are neither listed nor traded in the over-the-counter market, the price will be the fair market value of the trust estate as set forth in the opinion mentioned above.

ACES, in addition rtust increasing the basic oil production tax rate and the progressivity factor, also eliminated or reduced many deductions and credits permitted under the Amendments. The trustee of BP Prudhoe Bay Royalty Trust is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting.

Two other companies had already received BIS permission in April to re-export crude oil from Canada that had been imported into the U. No exploratory drilling activities were conducted in the field during the three-year period.

The Prudhoe Bay field extends approximately 12 miles by 27 miles and contains nearlygross productive acres.

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