Whiting USA Trust II (OTCMKTS:WHZT) Stock Gains Momentum: Now What?

Whiting USA Trust II (OTCMKTS:WHZT) on August 5, 2021 announced that the Trust do distribution to unitholders in quarter three of 2021, relating to net profits garnered in quarter two of 2021.

Unitholders on August 19, 2021 would be getting distribution of $0.180407 per unit. This would be payable by August 27, 2021. Currently, 99.9% of its total 18.4 million units outstanding were held by Cede & Co as official unitholder of record.

August 19, 2021, the record date, is only applicable for unitholders of Cede & Coand ex-date set by The Financial Industry Regulatory Authority, assesses the street name holders that would be eligible for receiving August 2021 distribution.

While oil volumes surged by 3% during second quarterly payment vis-à-vis first quarter payment as a result of difference in timing of revenues related with non-operated properties. The company’s gross proceeds surged to $3.1 million during quarter two of 2021 as compared to first quarter. This was higher because of higher average realisation. Furthermore, development costs augmented by $0.2 million in the second quarterly payment period. The Trust’s net profit interest is the single asset except for cash reserves for its future expenditures. This represents 90% rights to receive proceeds from its oil and natural gas properties in Rocky Mountains.