BP PRUDHOE BAY ROYALTY TRUST 10-K PDF

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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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Therefore, the prudhhoe reserve volumes attributable to the Trust will vary if different production estimates and prices are used. The Trustee must also determine that the failure to pay such liabilities at a later date will be contrary to the best interest of the holders prdhoe Units and that it is not practicable to submit the sale to a vote of the Unit holders. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.

The Company has not conveyed any additional royalty interests to the Trust, and the Trust has not issued any additional Units, since the inception of the Trust.

The flowlines transport the raw crude oil to one of six separation facilities three on the bbp side of the Prudhoe Bay Unit and three on the eastern side where the water and natural gas mixed with the raw crude are removed. Other factors have the potential to further reduce the spread between the Brent price and the price of U.

BP Prudhoe Bay Royalty Trust –

However, in the Conveyance the Company agreed to pay timely all costs and expenses chargeable to it and to ensure that no such costs and expenses will be chargeable against the Royalty Interest.

Because of the short-term nature of these investments and limitations on the types of investments which may be held by the Trust, the Trust is not subject to any material interest rate risk.

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Table of Contents BP Alaska is under no obligation to make investments in development projects which would add additional non-proved resources to proved reserves and cannot make such investments without the concurrence of the Prudhoe Bay Unit working interest owners. Estimates of proved reserves are inherently imprecise and subjective and are revised over time as additional data becomes available.

These controls and procedures include but are not limited to controls and procedures designed to ensure that information required to be disclosed by the Trust in the reports that it files or submits under the Exchange Act is accumulated and communicated to the responsible trust officers of the Trustee to allow timely decisions regarding required disclosure.

Royalty payments to the Trust are projected to cease after The gas cap composition is such that, upon surfacing, a liquid hydrocarbon phase, known as condensate, is formed. Table of Contents During the years and and the period of up to the date of this report, WTI Prices have been above the level necessary for the Trust to receive a Per Barrel Royalty.

Storage cost is another factor that may affect the spread between WTI and Brent. The shutdown only affected one dividend payment, which was subsequently made up for with the settlement. A layer of heavy oil and tar overlays the oil-water contact in the main field and has an average thickness of around 40 feet.

BP Prudhoe Bay Royalty Trust

royslty Proved developed reserves thousands of barrels as of:. The sediments in the Ivishak are composed of sandstone, conglomerate and shale which were deposited by a massive braided river and delta system that flowed from an ancient mountain system to the north. Major upgrades to the pipeline may be required to counteract the effects of cooler oil temperature.

The Royalty Interest is based upon oil produced from the oil rim and condensate produced from the gas cap, but not upon gas production which is currently uneconomic on a large scale or natural gas liquids production stripped from gas produced.

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Separate yet integrated reservoir management strategies have been developed for the areas affected by each of these recovery processes. Unit holders who acquired their Units on or after that date may be permitted to deduct an allowance for percentage depletion if such deduction would otherwise exceed the allowable deduction for cost depletion.

The progressivity portion of the Amendments was equal to 0. The progressivity rate imposed by the Amendments was equal to 0. Proved undeveloped reserves thousands of barrels as of: Unit holders who acquired their Units on or after that date may be permitted to deduct an allowance for percentage depletion if such deduction would otherwise exceed the allowable deduction for cost depletion. Unit Ownership of Certain Beneficial Owners. Various sections of this report contain forward-looking statements that is, statements anticipating future events or conditions and not statements of historical fact.

The occurrence of major gas sales could accelerate the decline in net production, due toyalty the consequent decline in reservoir pressure. Exact name of registrant as specified in its charter.

There is no audit committee or committee performing comparable functions responsible for reviewing the audited financial statements of the Trust. Owners of Units are exposed to risks and trusf that are particular to their investment.

A market valuation determination would include, among other things, anticipated price changes and the value of additional reserves not considered proved at the present time or reserves that may be produced after the currently anticipated end of field life.

Adjustment for underpayment overpaymentplus trusy interest.