CRT » Topics » 8. Purchaser Adjustments and Lawsuit Settlements

These excerpts taken from the CRT 10-K filed Feb 25, 2009.

8. Purchaser Adjustments and Lawsuit Settlements

 

From time-to-time, XTO Energy receives net proceeds for the underlying properties related to significant prior period purchaser adjustments and lawsuit settlements, including related interest income. Because of the size and nature of these adjustments and settlements, XTO Energy has informed the trustee that it believes these should be considered one-time, or nonrecurring, events. Since most of the properties in the trust are nonoperated, these adjustments are generally not known to XTO Energy until reported by the purchaser. These items are included and reported in net profits income in the month received by the trust, which is generally the month following receipt by XTO Energy.

 

In 2008, the calculation of net profits income includes proceeds from lawsuit settlements of $2,430,326 related to underpayment of royalties on underlying properties in the San Juan Basin. Included in these settlements was interest of $1,024,815 and additional gas revenue of $1,405,511. The total settlements, net to the trust, were $2,187,294, or $0.36 per unit.

 

In 2006, the calculation of net profits income includes proceeds from a lawsuit settlement of $2,209,927 related to underpayment of royalties on underlying properties in the San Juan Basin. Included in this settlement is interest of $566,848 and additional gas revenue of $1,643,079. The total settlement, net to the trust, was $1,988,934, or $0.33 per unit.

 

8. Purchaser Adjustments and Lawsuit Settlements

 

From time-to-time, XTO Energy receives net proceeds for the underlying properties related to significant prior period purchaser adjustments and lawsuit settlements, including related interest income. Because of the size and nature of these adjustments and settlements, XTO Energy has informed the trustee that it believes these should be considered one-time, or nonrecurring, events. Since most of the properties in the trust are nonoperated, these adjustments are generally not known to XTO Energy until reported by the purchaser. These items are included and reported in net profits income in the month received by the trust, which is generally the month following receipt by XTO Energy.

 

In 2008, the calculation of net profits income includes proceeds from lawsuit settlements of $2,430,326 related to underpayment of royalties on underlying properties in the San Juan Basin. Included in these settlements was interest of $1,024,815 and additional gas revenue of $1,405,511. The total settlements, net to the trust, were $2,187,294, or $0.36 per unit.

 

In 2006, the calculation of net profits income includes proceeds from a lawsuit settlement of $2,209,927 related to underpayment of royalties on underlying properties in the San Juan Basin. Included in this settlement is interest of $566,848 and additional gas revenue of $1,643,079. The total settlement, net to the trust, was $1,988,934, or $0.33 per unit.

 

These excerpts taken from the CRT 10-K filed Feb 26, 2008.

8. Purchaser Adjustments and Lawsuit Settlements

 

From time-to-time, XTO Energy receives net proceeds for the underlying properties related to significant prior period purchaser adjustments and lawsuit settlements, including related interest income. Because of the size and nature of these adjustments and settlements, XTO Energy has informed the trustee that it believes these should be considered one-time, or nonrecurring, events. Since most of the properties in the trust are nonoperated, these adjustments are generally not known to XTO Energy until reported by the purchaser. These items are included and reported in net profits income in the month received by the trust, which is generally the month following receipt by XTO Energy.

 

In 2005, the calculation of net profits income includes $1,831,411 related to a purchaser’s recalculation and remittance of royalties for prior period production from underlying properties in the San Juan Basin. Included in this amount is interest of $1,081,178 and additional gas revenue of $750,233. The total one-time adjustment, net to the trust, was $1,648,270, or $0.27 per unit.

 

In 2006, the calculation of net profits income includes a lawsuit settlement of $2,209,927 related to underpayment of royalties on underlying properties in the San Juan Basin. Included in this settlement is interest of $566,848 and additional gas revenue of $1,643,079. The total one-time settlement, net to the trust, was $1,988,934, or $0.33 per unit.

 

In January 2008, the trust received proceeds from a lawsuit settlement of $827,446 related to underpayment of royalties on underlying properties in the San Juan Basin. Included in this settlement is interest of $212,654 and additional gas revenue of $614,792. The total one-time settlement, net to the trust, was $744,702, or $0.12 per unit.

 

8. Purchaser Adjustments and Lawsuit Settlements

SIZE="1"> 

From time-to-time, XTO Energy receives net proceeds for the underlying properties related to significant prior period
purchaser adjustments and lawsuit settlements, including related interest income. Because of the size and nature of these adjustments and settlements, XTO Energy has informed the trustee that it believes these should be considered one-time, or
nonrecurring, events. Since most of the properties in the trust are nonoperated, these adjustments are generally not known to XTO Energy until reported by the purchaser. These items are included and reported in net profits income in the month
received by the trust, which is generally the month following receipt by XTO Energy.

 

FACE="Times New Roman" SIZE="2">In 2005, the calculation of net profits income includes $1,831,411 related to a purchaser’s recalculation and remittance of royalties for prior period production from underlying properties in the San Juan Basin.
Included in this amount is interest of $1,081,178 and additional gas revenue of $750,233. The total one-time adjustment, net to the trust, was $1,648,270, or $0.27 per unit.

SIZE="1"> 

In 2006, the calculation of net profits income includes a lawsuit settlement of $2,209,927 related to underpayment of
royalties on underlying properties in the San Juan Basin. Included in this settlement is interest of $566,848 and additional gas revenue of $1,643,079. The total one-time settlement, net to the trust, was $1,988,934, or $0.33 per unit.


 

In January 2008, the trust received proceeds from a lawsuit settlement of
$827,446 related to underpayment of royalties on underlying properties in the San Juan Basin. Included in this settlement is interest of $212,654 and additional gas revenue of $614,792. The total one-time settlement, net to the trust, was $744,702,
or $0.12 per unit.

 

This excerpt taken from the CRT 10-K filed Mar 1, 2007.

8. Purchaser Adjustments and Lawsuit Settlements

 

From time-to-time, XTO Energy receives net proceeds for the underlying properties related to significant prior period purchaser adjustments and lawsuit settlements, including related interest income. Because of the size and nature of these adjustments and settlements, XTO Energy has informed the trustee that it believes these should be considered one-time, or nonrecurring, events. Since most of the properties in the trust are nonoperated, these adjustments are generally not known to XTO Energy until reported by the purchaser. These items are included and reported in net profits income in the month received by the trust, which is generally the month following receipt by XTO Energy.

 

In 2006, the calculation of net profits income includes a lawsuit settlement of $2,209,927 related to underpayment of royalties on underlying properties in the San Juan Basin. Included in this settlement is interest of $566,848 and additional gas revenue of $1,643,079. The total one-time settlement, net to the trust, was $1,988,934, or $0.33 per unit.

 

In 2005, the calculation of net profits income includes $1,831,411 related to a purchaser’s recalculation and remittance of royalties for prior period production from underlying properties in the San Juan Basin. Included in this amount is interest of $1,081,178 and additional gas revenue of $750,233. The total one-time adjustment, net to the trust, was $1,648,270, or $0.27 per unit.

 

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki