Financial Performance - As of December 31, 2024, total assets decreased to $11,871,877 from $13,372,565 in 2023, reflecting a decline of approximately 11.2%[310] - Distributable income for the year ended December 31, 2024, was $12,410,000, down from $15,215,000 in 2023, representing a decrease of about 18.5%[312] - The cash distribution per Trust Unit for 2024 was $0.730, a decline of 18.5% compared to $0.895 in 2023[312] - Income from net profits interest for 2024 was $13,622,718, down from $16,459,918 in 2023, indicating a decrease of approximately 17.7%[312] - The Trust corpus at the end of 2024 was $11,871,877, down from $13,372,565 at the end of 2023, a reduction of about 11.2%[314] - General and administrative expenses for 2024 were $897,342, compared to $1,064,494 in 2023, reflecting a decrease of approximately 15.7%[312] Trust Operations - Cumulatively, since inception, the Trust has received payment for 80% of the net proceeds from the sale of 9.1 million barrels of oil equivalent (MMBoe) from the Underlying Properties[319] - The Trust's net profits interest will terminate upon the earlier of December 31, 2030, or when 10.6 MMBoe have been produced and sold[318] - The Trust has been audited by Grant Thornton LLP since 2010, with no critical audit matters identified in the current period[307] - The Trust adopted ASU 2023-07 during the year ended December 31, 2024, which requires enhanced disclosures about reportable segments[325] Revenue and Sales - The gross proceeds from oil and natural gas sales are defined as the total amount received by VOC Brazos, excluding certain costs and losses, with net proceeds calculated after deducting various expenses[331] - The Trust will receive 80% of the net proceeds attributable to oil and natural gas production, with distributions made quarterly to unitholders[330] - VOC Brazos sold 35% of the production from the Underlying Properties to MV Purchasing for the years 2022, 2023, and 2024 under short-term arrangements[339] Future Projections - The average annual capital expenditure amount will increase by 2.5% annually starting from the Capital Expenditure Limitation Date, which is set for December 31, 2027, or when 9.8 MMBoe have been produced[335] - Future cash inflows from proved reserves are estimated at $269.71 million for 2022, decreasing to $139.05 million by 2024[364] - The standardized measure of discounted future net cash flows was $98.38 million in 2022, dropping to $34.78 million by 2024[365] - The average oil price per barrel was $90.85 in 2022, decreasing to $72.58 in 2024, while gas prices fell from $5.59 per Mcf to $1.17[366] Cash Management - The cash reserve for future expenses was established at approximately $1.175 million, with the Trustee having the discretion to adjust this amount[342] - The Trust has a letter of credit of $1.7 million to cover future expenses, and a cash reserve of approximately $1.175 million has been built for anticipated liabilities[350][351] - The Trustee determines the distribution amount for unitholders based on cash received and expenses, with distributions expected to be made within 45 days after each quarter[341] Joint Ventures and Acquisitions - VOC Brazos entered a joint venture with Hawkwood Energy, granting Hawkwood a 50% working interest in four wells and up to 50% interest in VOC Brazos' acreage[347] - In 2022, Wildfire Energy acquired Hawkwood, retaining the rights under the joint venture agreement[348] - VOC Brazos is assessing economic benefits from the development of the Lower Woodbine Organic Shale, which may increase development costs and temporarily reduce cash distributions to Trust unitholders[349] Administrative Expenses - The administrative services fee paid to VOC Brazos was $18,750 per quarter, with total payments of $114,330, $118,902, and $123,659 for the years 2022, 2023, and 2024 respectively[346] Distribution Announcements - The Trust announced a distribution of $1,445,000, or $0.085 per unit, to unitholders for the period from October 1, 2024, to December 31, 2024[352] Reserves and Production - As of December 31, 2022, proved reserves were 3,155,444 Boe, down from 3,614,992 Boe in 2021, with production accounting for a decrease of 451,225 Boe[358][360]

Financial Distribution - VOC Energy Trust announced a quarterly distribution of net profits amounting to $1,445,000 or $0.085 per unit for the period ended December 31, 2024[2]. - Net proceeds available for distribution after expenses were $1,445,000[3]. - The percentage applicable to the Trust's Net Profits Interest was 80%, resulting in a net profits interest of $1,898,820[3]. Sales Performance - Total sales volumes for the period included 109,158 barrels of oil and 66,598 Mcf of natural gas, totaling 120,258 BOE[3]. - Average sales prices were $67.71 per barrel for oil and $2.57 per Mcf for natural gas[3]. - Total gross proceeds from oil and natural gas sales were $7,561,618, with oil sales contributing $7,390,709[3]. Costs and Expenses - Total costs incurred during the period were $5,188,093, including lease operating expenses of $3,431,201[3]. - There was no increase in cash reserve held by VOC Brazos Energy Partners, L.P.[3]. Trust Operations - The Trust's distribution is based on cash received or expected to be received by the Trustee prior to the record date[3]. - The Trust does not intend to update any statements included in the press release, which are subject to various risk factors[3].

Financial Performance - For the quarter ended September 30, 2024, total gross proceeds from oil and natural gas sales were $9,270,907, an increase of $30,322 or 0.3% from $9,240,585 in the same quarter of 2023[37] - The excess of revenues over direct operating expenses and lease equipment and development costs was $4,248,273 for Q3 2024, a decrease of $485,666 or 10.3% from $4,733,939 in Q3 2023[39] - For the nine months ended September 30, 2024, total gross proceeds from oil and natural gas sales were $27,041,669, a decrease of $2,751,509 or 9.2% from $29,793,178 in the same period of 2023[42] - The excess of revenues over direct operating expenses and lease equipment and development costs was $12,975,244 for the nine months ended September 30, 2024, a decrease of $2,447,187 or 15.9% from $15,422,431 in the same period of 2023[44] - Distributable income for the nine months ended September 30, 2024 was $9,350,000, a decrease from $11,390,000 in the same period of 2023[44] Sales Volumes and Prices - Oil sales volumes decreased by 10,367 Bbls or 8.2% to 116,006 Bbls in Q3 2024 compared to 126,373 Bbls in Q3 2023, while natural gas sales volumes decreased by 5,149 Mcf or 7.3% to 65,815 Mcf[37] - Oil sales volumes for the nine months ended September 30, 2024 were 342,945 Bbls, a decrease of 31,799 Bbls or 8.5% from 374,744 Bbls in the same period of 2023[42] - The average price for oil increased by 9.6% to $78.36 per Bbl in Q3 2024, while the average price for natural gas decreased by 5.8% to $2.74 per Mcf[37] - The average price for oil increased by 1.2% to $77.10 per Bbl for the nine months ended September 30, 2024, while the average price for natural gas decreased by 44.3% to $3.03 per Mcf[42] Cash and Reserves - As of September 30, 2024, the Trustee held $1,779,712 in cash and cash equivalents, which includes a cash reserve of $1.175 million[45] - The Trust has established a cash reserve of approximately $1.175 million to cover future known, anticipated, or contingent expenses, in addition to a $1.7 million letter of credit[47] - The cash reserve balance was maintained at $1,000,000 as of September 30, 2024 and 2023, to mitigate the impact of uneven capital expenditure timing[49] Borrowings and Financial Controls - There were no borrowings made by the Trust during the three and nine months ended September 30, 2024 and 2023[46] - The Trustee has not made any changes to the internal control over financial reporting that materially affect the Trust during the quarter ended September 30, 2024[55] - The Trust's disclosure controls and procedures have been evaluated and deemed effective by a Trust Officer[53] Risk Factors and Future Expectations - The Trust does not expect significant changes in future costs for underlying properties, except for fluctuations in general oilfield service costs[49] - The Trust has not experienced any material changes in risk factors as previously disclosed in the Form 10-K[58] - The Trustee may adjust the targeted cash reserve amount and the rate at which funds are withheld without prior notice to unitholders[47] Trading Arrangements - No Rule 10b5-1 trading arrangements were adopted, modified, or terminated by any officer or employee of the Trustee during the three months ended September 30, 2024[59]

Financial Performance - VOC Energy Trust announced a quarterly distribution of net profits amounting to $3,060,000 or $0.18 per unit, payable on November 14, 2024[1]. - Total gross proceeds from oil and natural gas sales were $8,746,955, with oil sales contributing $8,570,477 and natural gas sales contributing $176,478[1]. - Net proceeds available for distribution after costs were $3,060,000, following a provision for current estimated Trust expenses of $182,523[1]. - The Trust's net profits interest was calculated at $3,242,523, representing 80% of the net profits interest applicable to the Trust[1]. Sales and Production - Total sales volumes for the quarter ended September 30, 2024, included 113,737 barrels of oil and 65,152 Mcf of natural gas, totaling 124,596 BOE[1]. - Average sales prices were $75.35 per barrel for oil and $2.71 per Mcf for natural gas[1]. Costs and Expenses - Total costs incurred during the quarter were $4,693,801, which included lease operating expenses of $3,548,505 and development expenses of $947,562[1]. Distribution and Cash Flow - The Trust's distribution is based on cash received or expected to be received from underlying properties prior to the record date[2]. - The Trust cautions that actual cash receipts may differ from expectations, which could affect the distributable amount[2]. - VOC Energy Trust does not intend to update any statements included in the press release[2].

Financial Performance - For the three months ended June 30, 2024, total gross proceeds from oil and natural gas sales were $8,076,227, a decrease of 13.7% from $9,357,015 in the same period of 2023[30]. - For the six months ended June 30, 2024, total gross proceeds were $17,770,762, a decrease of 13.5% from $20,552,593 in the same period of 2023[34]. - The excess of revenues over direct operating expenses for the six months ended June 30, 2024, was $8,726,971, a decrease of 18.4% from $10,688,492 in the same period of 2023[36]. - The Trust's income from net profits interest for the six months ended June 30, 2024, was $6,981,577, down from $8,550,794 in the same period of 2023[36]. - Distributable income for the three months ended June 30, 2024, was $3,060,000, a decrease of $850,000 from $3,910,000 in the same period of 2023[32]. Sales Volumes and Prices - Oil sales volumes decreased by 8.5% to 110,534 Bbls in Q2 2024 from 120,771 Bbls in Q2 2023, while natural gas sales volumes decreased by 13.2% to 64,808 Mcf from 74,644 Mcf[30]. - The average price for oil decreased by 3.9% to $71.25 per Bbl in Q2 2024, and the average price for natural gas decreased by 42.3% to $3.10 per Mcf[30]. - Oil sales volumes for the six months ended June 30, 2024, were 226,939 Bbls, down 8.6% from 248,371 Bbls in the same period of 2023[34]. Expenses - Lease operating expenses for the six months ended June 30, 2024, were $7,220,002, a decrease of 5.7% from $7,660,187 in the same period of 2023[35]. - Development expenses increased by 121.1% to $358,318 in Q2 2024 compared to $162,095 in Q2 2023, indicating increased development activity[31]. Cash and Reserves - As of June 30, 2024, the Trust held $1,643,582 in cash and cash equivalents, including a cash reserve of $1.175 million[37]. - The Trust has not borrowed funds during the three and six months ended June 30, 2024 and 2023, and has a letter of credit of $1.7 million to cover future expenses[38]. - The Trustee has gradually built a cash reserve of $1.175 million from proceeds available for distribution to cover future expenses since Q1 2022[39]. - The cash reserve balance was $1,000,000 as of June 30, 2024, aimed at reducing the impact of uneven capital expenditure timing[40]. Risk Factors - The Trust's forward-looking statements are subject to risks that could cause actual results to differ materially from expectations[41]. - There have been no material changes in risk factors since the last disclosure in the Trust's Form 10-K[48]. Governance - No officers or employees of the Trustee adopted or modified any trading arrangements during the three months ended June 30, 2024[49].

Distribution Announcement - VOC Energy Trust announced its quarterly distribution for the payment period ended June 30, 2024[2]. - The press release regarding the quarterly distribution was issued on July 18, 2024[2]. - The press release is not filed but furnished for informational purposes[11]. Trust Information - The Trust is registered under the Commission File Number 001-35160[5]. - The Trust operates under the jurisdiction of Delaware[5]. - The Trust's IRS Employer Identification Number is 80-6183103[5]. - The Bank of New York Mellon Trust Company acts as the Trustee for VOC Energy Trust[9]. - The Trust is classified as an emerging growth company[10]. Stock Information - The units of beneficial interest are listed on The New York Stock Exchange[10]. Contact Information - The contact number for VOC Energy Trust is 1-713-483-6020[5].

Financial Performance - Distributable income for Q1 2024 was $3,230,000, a decrease of 17.4% from $3,910,000 in Q1 2023[7] - Income from net profits interest for Q1 2024 was $3,604,114, down 16.7% from $4,328,752 in Q1 2023[26] - Cash distributions per Trust unit decreased to $0.19 in Q1 2024 from $0.23 in Q1 2023, reflecting a decline of 17.4%[32] - For the three months ended March 31, 2024, total gross proceeds from oil and natural gas sales were $9,694,535, a decrease of $1,501,043 or 13.4% from $11,195,578 for the same period in 2023[38] - Oil sales volumes decreased by 11,195 Bbls or 8.8% to 116,405 Bbls in Q1 2024 from 127,600 Bbls in Q1 2023, while natural gas sales volumes decreased by 15,580 Mcf or 18.7% to 67,921 Mcf[38] - The average price for oil decreased by 1.6% to $81.39 per Bbl, and the average price for natural gas decreased by 57.6% to $3.24 per Mcf in Q1 2024 compared to Q1 2023[38] - Total costs for the three months ended March 31, 2024, were $5,189,393, a decrease of $595,245 or 10.3% from $5,784,638 in Q1 2023[39] - The excess of revenues over direct operating expenses was $4,505,142 for Q1 2024, a decrease of $905,798 or 16.7% from $5,410,940 in Q1 2023[40] - Income from net profits interest for Q1 2024 was $3,604,114, down from $4,328,752 in Q1 2023, reflecting a decrease of $724,638 or 16.7%[40] - Distributable income for the three months ended March 31, 2024, was $3,230,000, a decrease of $680,000 from $3,910,000 in Q1 2023[40] Assets and Cash Management - Total assets as of March 31, 2024, were $12,928,840, a decrease from $13,372,565 as of December 31, 2023[9] - Trust corpus at the end of Q1 2024 was $12,928,840, down from $14,619,274 at the end of Q1 2023[11] - Cash and cash equivalents increased slightly to $1,446,956 as of March 31, 2024, compared to $1,429,301 as of December 31, 2023[9] - As of March 31, 2024, the Trust held $1,446,956 in cash and cash equivalents, which includes a cash reserve of $1.175 million[41] - The Trust has a letter of credit from VOC Brazos amounting to $1,700,000 to protect against insufficient cash for future expenses[42] - The Trustee has established a cash reserve of $1,000,000 to mitigate the impact of uneven capital expenditure timing, which was maintained as of March 31, 2024[45] - VOC Brazos did not withhold or release any amounts from the reserve during Q1 2024, maintaining a reserve balance of $1.0 million[27] Governance and Operational Structure - VOC Energy Trust has no principal executive officer or board of directors, indicating a unique governance structure[61] - The Trustee, The Bank of New York Mellon Trust Company, serves without implying any executive functions[61] - The report was signed by Elaina C. Rodgers, Vice President, on May 8, 2024[61] - No additional signatures are available, reflecting the trust's operational framework[61] - The Trust Agreement under which the Trustee serves does not establish traditional corporate governance roles[61] - The document does not provide financial performance metrics or user data[61] - There are no future outlooks or performance guidance mentioned in the report[61] - No information on new products, technologies, market expansion, or mergers and acquisitions is included[61] - The report focuses solely on the structural aspects of the Trust rather than financial results[61] - The absence of a principal financial officer suggests a different approach to financial oversight[61]

Distribution Announcement - VOC Energy Trust announced its quarterly distribution for the payment period ended March 31, 2024[1]. - The press release regarding the quarterly distribution is furnished as Exhibit 99.1[14]. Company Information - The Trust is registered under the Securities Exchange Act of 1934 and trades on the New York Stock Exchange under the symbol VOC[2].

Financial Performance - Distributable income for 2023 was $15,215,000, down 29.9% from $21,675,000 in 2022[314] - Income from net profits interest for 2023 was $16,459,918, a decrease of 30.2% compared to $23,594,050 in 2022[314] - Distributions per Trust Unit decreased from $1.275 in 2022 to $0.895 in 2023, a reduction of 29.8%[314] - The Trust's expenses increased from $957,377 in 2022 to $1,064,494 in 2023, an increase of 11.2%[314] - The Trust's distributions to unitholders for the quarter ended September 30, 2023, amounted to $3.825 million[345] - A distribution of $3,230,000, or $0.19 per unit, was announced for Trust unitholders, based on net proceeds from production collected from October 1, 2023, to December 31, 2023[354] Asset and Reserve Changes - Total assets decreased from $15,048,316 in 2022 to $13,372,565 in 2023, a decline of approximately 11.1%[312] - Trust corpus at the end of 2023 was $13,372,565, down from $15,048,316 at the end of 2022, reflecting a decrease of 11.1%[316] - As of December 31, 2023, the Trust's proved reserves were 2,278,818 barrels of oil and 1,356,031 Mcf of gas, totaling 2,504,823 Boe[361] - The Trust recognized a net decrease in reserves of 423,537 Boe for 2023, attributed to production and negative revisions due to increased development costs[365] - The Trust's total proved undeveloped reserves as of December 31, 2023, were 452,570 Boe, reflecting a decrease from previous years[361] Cash Flow and Financial Projections - Future cash inflows from proved reserves were estimated at $175,123,174 for 2023, with production costs of $76,651,487 and development costs of $29,432,877, resulting in future net cash flows of $69,038,810[367] - The standardized measure of discounted future net cash flows decreased to $50,167,818 by the end of 2023, down from $98,381,229 at the end of 2022[368] Operational Developments - VOC Brazos sold 35% of the production from the Underlying Properties to MV Purchasing for each year from 2021 to 2023 under short-term arrangements[341] - VOC Brazos is evaluating the economic benefits of developing the LWOS, which may increase development costs and temporarily reduce cash available for distribution to Trust unitholders[351] - VOC Brazos will continue to assess strategies and capital plans to fund development for the Trust amid rising costs and production challenges[351] Trust Structure and Governance - The Trust will dissolve prior to the liquidation date if certain conditions are met, including a majority vote from Trust Unit holders[323] - The joint venture agreement with Hawkwood allows for no contractual limitation on the number of wells to propose and drill after 2020[349] Cash Management - The Trust has established a cash reserve of approximately $1.175 million, fully funded by February 2023, for future expenses[343] - The Trust has a cash reserve of approximately $1.175 million built to cover future expenses, in addition to a $1.7 million letter of credit provided by VOC Brazos[353] Pricing and Market Conditions - The average oil price for 2023 was $75.24 per barrel, while the average gas price was $1.76 per Mcf[368]

Financial Performance - For the three months ended September 30, 2023, the distributable income was $3,570,000, a decrease of 44% compared to $6,460,000 for the same period in 2022[6]. - The cash distributions per Trust unit for the three months ended September 30, 2023, were $0.21, down 44.7% from $0.38 in the same period of 2022[6]. - Income from net profits interest for the nine months ended September 30, 2023, was $12,337,945, a decrease of 26.5% from $16,792,579 for the same period in 2022[6]. - The Trust's distributable income for the three months ended September 30, 2023 was $3,570,000, a decrease of $2,890,000 from $6,460,000 for the same period in 2022[41]. - Distributable income for the nine months ended September 30, 2023, was $11,390,000, compared to $15,470,000 for the same period in 2022[46]. Asset and Investment Status - Total assets as of September 30, 2023, were $13,749,704, a decrease of 8.6% from $15,048,316 as of December 31, 2022[8]. - The Trust corpus at the end of the period was $13,749,704, down from $15,118,800 at the end of the previous quarter[10]. - The investment in net profits interest remained unchanged at $140,591,606 as of September 30, 2023, compared to December 31, 2022[8]. - No impairment of the investment in net profits interest was recorded during the quarters ended September 30, 2023, or 2022[21]. - As of September 30, 2023, the Trustee held $1,328,174 as a reserve for future development and operating expenses[47]. Revenue and Sales Performance - For the three months ended September 30, 2023, gross proceeds from oil and natural gas sales were $9,240,585, a decrease of 34.9% from $14,203,250 in the same period of 2022[39]. - For the nine months ended September 30, 2023, total gross proceeds from oil and natural gas sales were $29,793,178, a decrease of 15.1% from $35,084,875 in the same period of 2022[44]. - Oil sales volumes were 126,373 Bbls, a decrease of 3.5% from 131,018 Bbls for the three months ended September 30, 2022[39]. - Oil sales volumes decreased by 4.3% to 374,744 Bbls in 2023 from 391,719 Bbls in 2022, while natural gas sales volumes decreased by 4.2% to 229,109 Mcf from 239,254 Mcf[44]. Expense Analysis - General and administrative expenses for the three months ended September 30, 2023, were $257,220, an increase of 59.5% compared to $161,324 for the same period in 2022[6]. - Lease operating expenses were $3,553,191, a decrease of 7.7% from $3,851,595 for the three months ended September 30, 2022[40]. - Development expenses decreased by 72.7% to $295,971 from $1,084,572 in the same period of 2022[40]. - Lease operating expenses increased by 6.2% to $11,213,378 in 2023 from $10,557,018 in 2022, while production and property taxes increased by 12.3% to $1,830,926[45]. Cash Management - Cash on hand used for Trust expenses was $40,069 for the three months ended September 30, 2023, compared to a withholding of $275,888 in the same period of 2022[6]. - The Trust has not borrowed funds during the three and nine months ended September 30, 2023 and 2022, and a letter of credit of $1.7 million has been provided to protect against insufficient cash for future expenses[48]. - The targeted cash reserve of $1.175 million was fully funded as of January 30, 2023, to cover future known, anticipated, or contingent expenses[49]. Distribution Information - The first quarterly distribution in 2023 was $3,910,000, or $0.23 per Trust Unit, made on February 14, 2023[29]. - The third quarterly distribution in 2023 was $3,570,000, or $0.21 per Trust Unit, made on August 14, 2023[31].