is a royalty trust that acquires and holds a term net profits interest of the net proceeds from production and sale of the interests in oil and natural gas properties in the states of Kansas and Texas.
VOC has an 80% term net profits interest of the net proceeds on the underlying properties. As of December 31, 2021, its underlying properties had interests in 452.5 net producing wells and 51,147.2 net acres. As of December 31, 2021, the company had proved reserves of approximately 2.9 million barrels of oil equivalent attributable to the portion of the Kansas underlying properties; and approximately 5.4 MMBoe attributable to the Texas underlying properties. Dorchester Minerals, L.P.
For decades, master limited partnerships, or MLPs, have been a source of reliable, high-yield income for energy investors. An MLP is required by law to derive at least 90% of its cash flow from commodities, natural resources or real estate. They, in turn, distribute cash to shareholders instead of paying dividends like a standard company would.