North European Oil Royalty Trust Files 10-Q for Period Ended January 31, 2024

TL;DR

<b>North European Oil Royalty Trust filed its quarterly report (10-Q) for the period ending January 31, 2024, confirming its compliance with SEC filing requirements.</b>

AI Summary

NORTH EUROPEAN OIL ROYALTY TRUST (NRT) filed a Quarterly Report (10-Q) with the SEC on February 29, 2024. Filed a 10-Q report for the quarterly period ended January 31, 2024. The company is registered under the ticker NRT on the New York Stock Exchange. North European Oil Royalty Trust is incorporated in Delaware. The principal executive offices are located at 5 N. Lincoln Street, Keene, N.H. 03431. The filing confirms the registrant has filed all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days.

Why It Matters

For investors and stakeholders tracking NORTH EUROPEAN OIL ROYALTY TRUST, this filing contains several important signals. This 10-Q filing provides investors with an update on the financial performance and operational status of North European Oil Royalty Trust for the specified quarter. The report's adherence to SEC regulations and timely filing is crucial for maintaining investor confidence and ensuring the trust's units remain tradable on the New York Stock Exchange.

Risk Assessment

Risk Level: low — NORTH EUROPEAN OIL ROYALTY TRUST shows low risk based on this filing. The filing is a routine quarterly report and does not contain significant new financial data or operational changes that would alter the risk profile.

Analyst Insight

Monitor future filings for specific financial performance metrics and operational updates related to the trust's oil royalty interests.

Key Numbers

• 2024-01-31 — Quarterly Period End Date (Report covers the period ended January 31, 2024.)
• 2024-02-29 — Filing Date (The 10-Q report was filed on February 29, 2024.)
• 1-8245 — Commission File Number (SEC file number for the registrant.)
• 0000072633 — Central Index Key (Unique identifier for the registrant.)

Key Players & Entities

• NORTH EUROPEAN OIL ROYALTY TRUST (company) — Filer name
• NRT (company) — Trading Symbol
• New York Stock Exchange (company) — Exchange where units are registered
• January 31, 2024 (date) — Quarterly period end date
• February 29, 2024 (date) — Filing date
• 0000072633 (company) — Central Index Key
• Delaware (jurisdiction) — State of Incorporation
• 5 N. Lincoln Street, Keene, N.H. 03431 (address) — Principal Executive Offices

FAQ

Industry Context

North European Oil Royalty Trust operates in the oil royalty sector, deriving income from oil and gas production interests.

Regulatory Implications

The trust is subject to SEC regulations, including the requirement to file quarterly reports (Form 10-Q) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Track future filings for updates on production volumes, commodity prices, and royalty income.
3. Assess the trust's compliance and reporting history for any potential red flags.

Key Dates

• 2024-01-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q.
• 2024-02-29: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is a standard quarterly report (10-Q) for the period ended January 31, 2024, indicating continued compliance with SEC reporting requirements.

Key Financial Figures

• $974,286 — nt assets -- Cash and cash equivalents $974,286 $795,201 Producing gas and oil royal
• $795,201 — -- Cash and cash equivalents $974,286 $795,201 Producing gas and oil royalty rights,
• $974,287 — msp; 1 &emsp;&emsp; 1 Total Assets $974,287 $795,202 LIABILITIES AND TRUST CORP
• $795,202 — sp;&emsp; 1 Total Assets $974,287 $795,202 LIABILITIES AND TRUST CORPUS Curren
• $459,529 — stributions to be paid to unit owners, $459,529 $0 Trust corpus (Notes 1 and 2) 1
• $0 — s to be paid to unit owners, $459,529 $0 Trust corpus (Notes 1 and 2) 1 1
• $424,910 — Gas, sulfur and oil royalties received $424,910 $9,765,883 Interest income &emsp; 7
• $9,765,883 — r and oil royalties received $424,910 $9,765,883 Interest income &emsp; 7,460 &emsp;
• $432,370 — 460 &emsp;&emsp;22,923 Trust Income $432,370 $9,788,806 Non-related party expense
• $9,788,806 — ;&emsp;22,923 Trust Income $432,370 $9,788,806 Non-related party expenses (251,333)
• $179,085 — es (253,285) (252,792) Net Income $179,085 $9,536,014 Net income per unit $0
• $9,536,014 — 5) (252,792) Net Income $179,085 $9,536,014 Net income per unit $0.02 $1.04
• $0.02 — 85 $9,536,014 Net income per unit $0.02 $1.04 Distributions per unit paid o
• $1.04 — 536,014 Net income per unit $0.02 $1.04 Distributions per unit paid or to be
• $0.05 — nit paid or to be paid to unit owners $0.05 $1.00 The accompanying notes are an

Filing Documents

• tenq1q24.htm (10-Q) — 46KB
• x31-022924.htm (EX-31) — 5KB
• x32-022924.htm (EX-32) — 1KB
• 0000072633-24-000009.txt (&nbsp;) — 53KB

-- FINANCIAL INFORMATION

PART I -- FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. AND TRUST CORPUS (NOTE 1) JANUARY 31, 2024 AND OCTOBER 31, 2023 (Unaudited) 2024 2023 ASSETS Current assets -- Cash and cash equivalents $974,286 $795,201 Producing gas and oil royalty rights, net of amortization (Notes 1 and 2) &emsp;&emsp; 1 &emsp;&emsp; 1 Total Assets $974,287 $795,202 LIABILITIES AND TRUST CORPUS Current liabilities -- Distributions to be paid to unit owners, $459,529 $0 Trust corpus (Notes 1 and 2) 1 1 Undistributed earnings 514,757 795,201 Total Liabilities and Trust Corpus $974,287 $795,202 The accompanying notes are an integral part of these financial statements. AND EXPENSES PAID (NOTE 1) FOR THE THREE MONTHS ENDED JANUARY 31, 2024 AND 2023 (Unaudited) &emsp; 2024 &emsp; 2023 Gas, sulfur and oil royalties received $424,910 $9,765,883 Interest income &emsp; 7,460 &emsp;&emsp;22,923 Trust Income $432,370 $9,788,806 Non-related party expenses (251,333) (251,189) Related party expenses (Note 3) (1,952) (1,603) Trust Expenses (253,285) (252,792) Net Income $179,085 $9,536,014 Net income per unit $0.02 $1.04 Distributions per unit paid or to be paid to unit owners $0.05 $1.00 The accompanying notes are an integral part of these financial statements. FOR THE THREE MONTHS ENDED JANUARY 31, 2024 AND 2023 (Unaudited) 2024 2023 Balance, beginning of period $795,201 $392,420 Net income 179,085 9,536,014 974,286 9,928,434 Less: Current year distributions paid or to be paid to unit owners 459,529 9,190,590 Balance, end of period $514,757 $737,844 The accompanying notes are an integral part of these financial statements. AND CASH EQUIVALENTS (NOTE 1) FOR THE THREE MONTHS ENDED JANUARY 31, 2024 AND 2023 (Unaudited) 2024 2023 Sources of Cash and Cash

&emsp; Management's Discussion and Analysis of

Item 2.&emsp; Management's Discussion and Analysis of Financial Condition and Results of Operations. Executive Summary The Trust is a passive fixed investment trust which holds overriding royalty rights, receives income under those rights from certain operating companies, pays its expenses and distributes the remaining net funds to its unit owners. As mandated by the Trust Agreement, distributions of income are made on a quarterly basis. These distributions, as determined by the Trustees, constitute substantially all the funds available after provision is made for anticipated Trust expenses. The Trust does not engage in any business or extractive operations of any kind in the areas over which it holds royalty rights and is precluded from engaging in such activities by the Trust Agreement. There are no requirements, therefore, for capital resources with which to make capital expenditures or investments in order to continue the receipt of royalty revenues by the Trust. The properties of the Trust, which the Trust and Trustees hold pursuant to the Trust Agreement on behalf of the unit owners, are overriding royalty rights on sales of gas, sulfur and oil under a concession or leases in the Federal Republic of Germany. The actual concession or leases are held either by Mobil Erdgas-Erdol GmbH ("Mobil Erdgas"), a German operating subsidiary of the ExxonMobil Corporation ("ExxonMobil"), or by Oldenburgische Erdolgesellschaft ("OEG"). As a result of direct and indirect ownership, ExxonMobil owns two-thirds of OEG and the Royal Dutch/Shell Group of Companies owns one-third of OEG. BEB Erdgas und Erdol GmbH ("BEB"), a joint venture in which ExxonMobil and the Royal Dutch/Shell Group each own 50%, administers the concession held by OEG. The Oldenburg concession is the primary area from which the natural gas, sulfur and oil are extracted and currently provides 100% of all the royalties received by the Trust. The Oldenburg concession, at approximately 1,386,000 acres, cove

forward-looking statements by words such as "may," "will," "would,"

forward-looking statements by words such as "may," "will," "would," "should," "could," "expects," "aim," "anticipates," "believes," "estimates," "intends," "plan," "predict," "project," "seek," "potential," "opportunities" and other similar expressions and the negatives of such expressions. However, not all forward-looking information provided to the Trust by the operating companies or by consultants using public information sources. These statements are results to differ materially from those anticipated in any

forward-looking statements. These include

forward-looking statements. These include: - the fact that the assets of the Trust are depleting assets and, if the operators developing the concession do not perform additional development projects, the assets may deplete faster than expected; - risks and uncertainties concerning levels of gas production and gas sale prices, general economic conditions, and currency exchange rates; - the ability or willingness of the operating companies to perform under their contractual obligations with the Trust; - potential disputes with the operating companies and the resolution thereof; and - political and economic uncertainty arising from geopolitical conflict, such as Russia's invasion of Ukraine. All such factors are difficult to predict, contain uncertainties that may materially affect actual results, and are generally beyond the control of the Trust. New factors emerge from time to time and it is not possible for the Trust to predict all such factors or to assess the impact of each such factor on the Trust. Any forward-looking statement speaks only as of the date on which such statement is made, and the Trust does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.

Quantitative and Qualitative Disclosures

Item 3. Quantitative and Qualitative Disclosures About Market Risk. The Trust is a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934, as amended, and is not required to provide the information required under this item.

Controls and Procedures

Item 4. Controls and Procedures. The Trust maintains disclosure

controls and procedures that are designed to ensure that information

controls and procedures that are designed to ensure that information required to be disclosed by the Trust is recorded, processed, summarized, accumulated, and communicated to its management, which consists of the Managing Director, to allow timely decisions regarding required disclosure, and reported within the

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