- BPT's June 30 10-Q confirms that the Trust's actual breakeven figures are higher than what the Trustee has been reporting in its press releases due to quarterly CPI increases.
- The Trustee also issued a warning that there will be no distributions until its cash reserve account reaches at least $6 million, a $4.2 million increase from the current level.
- This announcement, combined with WTI currently being less than $63 per barrel, makes it unlikely there will be any distribution this quarter.
- Unless WTI increases materially, there is considerable risk of minimal, or possibly even no payments in the future.
For further details see:
BP Prudhoe Bay's 10-Q Confirms My Prior Warnings