Trust Termination and Compliance - The Trust was terminated at 11:59 PM on December 31, 2024, in accordance with the Trust Agreement[3] - The average closing price of the Trust's units fell below $1.00 over a 30 consecutive trading-day period ending December 30, 2024, leading to non-compliance with NYSE listing standards[5] - Trading of the Trust's units was suspended by the NYSE effective June 30, 2025, due to non-compliance with listing rules[5] Financial Impact - The Trust did not receive a royalty payment for the quarter ended June 30, 2025, resulting in no quarterly cash distribution to unitholders for that period[3] Market Transition - The Trust's units began trading on July 1, 2025, under the symbol "BPPTU" on the OTC Pink market, which is significantly more limited than the NYSE[6] - There is uncertainty regarding the development of an active market for the Trust's units on OTC Pink, which may result in reduced liquidity and further price depression[6]
BP Prudhoe Bay Royalty Trust(BPT) - 2025 Q1 - Quarterly Results