VOC Energy Trust (VOC) Q1 2026 earnings summary

Executive summary

• Distributable income was $1.530 million, up $85,000 YoY, and the quarterly distribution rose to $0.090 per unit from $0.085.

• Net profits interest income declined to $1.586 million from $1.899 million as lower oil prices and lower oil and gas volumes reduced property proceeds.

Financial highlights

• Gross proceeds were $6.496 million, down 14.1% YoY; oil sales revenue fell while natural gas revenue increased.

• Underlying-property excess of revenues over direct operating and development costs was $1.983 million, down 16.5% YoY; the 80% net profits interest yielded $1.586 million.

• Trust G&A expenses decreased to $311,650 from $412,521; distributable income increased to $1.530 million from $1.445 million.

• Cash and cash equivalents were $1.771 million at March 31, 2026, versus $2.027 million at Dec. 31, 2025.

Outlook and guidance

• A $1.615 million distribution, or $0.095 per unit, was announced for the quarter ended March 31, 2026, payable May 15 to unitholders of record April 30.

• VOC Brazos expects future underlying-property costs to remain near recent historical levels, except for changes in general oilfield-service costs.

• The net profits interest ends on the later of Dec. 31, 2030, or production and sale of 10.6 million BOE from the underlying properties; 9.8 million BOE had been sold cumulatively through March 31, 2026.