Pacific Coast Oil Trust Announces There Will Be No May Cash Distribution
ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face.
- ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face.
- As a result, the total proceeds received by the Trust in each of 2020 and 2021 were less than $2.0 million.
- Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California (the “Underlying Properties”).
- Any anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from PCEC with respect to the relevant period.