Pacific Coast Oil Trust Form 8-K — Sep 30, 2026
Pacific Coast Oil Trust announced no cash distribution for July 2026, with the Trustee warning that distributions to unitholders in the foreseeable future are 'extremely remote' given PCEC's asset retirement obligation deductions and the Trust's reliance on borrowed funds. The Trust owes PCEC approximately $14.4 million, and the cumulative net profits deficit on the Developed Properties grew from $11.0 million to $11.4 million in the current month; expenses of roughly $286,000 exceeded the $58,000 royalty receipt, creating a $228,000 shortfall funded by new PCEC loans.
Key figures
- Net Income
- $0 distribution to unitholders
- Debt Amount
- $14.4 million owed by the Trust to PCEC
- Aro estimate 2019
- $45,695,643
- Monthly shortfall
- $228,000
- Trust gna expenses
- $167,000
- Monthly ops fee to PCEC
- $119,000
- Realized price developed
- $68.00 per Boe
- Realized price remaining
- $64.04 per Boe
- Royalty interest receipt
- $58,000
- Sales volumes developed boe
- 36241
- Sales volumes remaining boe
- 13143
- Developed properties revenue
- $2.5 million
- Dissolution trigger threshold
- $2.0 million annual proceeds for two consecutive years
- Orcutt production decline vs dec2022
- 10,859 Bbls (20%)
- Developed properties operating income
- $306,000
- Developed properties net profit deficit
- $11.4 million
- Remaining properties net profit deficit
- $95,000
AI analysis
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