Chesapeake Granite Wash Trust Announces Distribution Per Common Unit
OREANDA-NEWS. August 16, 2012. Chesapeake Granite Wash Trust (NYSE:CHKR) (the “Trust”) announced that its common unit distribution for the quarter ended June 30, 2012 (which primarily relates to production attributable to the Trust’s royalty interests from March 1, 2012 through May 31, 2012) will be USD 0.6100 per common unit, reported the press-centre of Chesapeake.
The Trust will also pay a distribution of USD 0.4819 per subordinated unit for the quarter. The distributions will be paid on August 30, 2012 to all common and subordinated unitholders of record at the close of business on August 20, 2012.
During the three-month production period ended May 31, 2012, total sales volumes and realized oil prices were slightly higher than estimated for the period. However, realized natural gas and natural gas liquids prices were significantly lower than estimated. This resulted in quarterly income available for distribution of USD 0.5780 per unit, which is USD 0.0320 below the subordination threshold. As a result, the distribution per common unit is the subordination threshold of \\$0.6100 for the quarter.
The following table provides sales volumes, realized prices and revenue attributable to the Trust’s royalty interests, expenses of the Trust and distributable income available to unitholders for the production period from March 1, 2012 to May 31, 2012.
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