![](https://investorshub.advfn.com/uicon/137942.png?cb=1632131917)
Friday, January 30, 2015 7:12:02 AM
just need 3 more like it but it is a shrinking Trust with no new wells being added
For Immediate Release
AUSTIN, Texas January 29, 2015 — SANDRIDGE MISSISSIPPIAN TRUST I (NYSE: SDT) today announced a quarterly distribution for the three-month period ended December 31, 2014 (which primarily relates to production attributable to the Trust’s interests from September 1, 2014 through November 30, 2014) of $8.5 million, or $0.3049 per unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before February 27, 2015 to holders of record as of the close of business on February 13, 2015.
During the three-month production period ended November 30, 2014, total sales volumes were lower than initial Trust estimates; however, sales volumes for the three-month production period were higher than the previous period due to the completion of workovers and well repairs. Net cash settlements received under the derivatives agreement for the period were approximately $2.3 million, which increased the quarterly income available for distribution to $0.3049 per unit. As no additional development wells will be drilled, the Trust’s production is expected to decline each quarter during the remainder of its life.
The Trust owns royalty interests in oil and natural gas properties in the Mississippian formation in Alfalfa, Garfield, Grant and Woods counties in Oklahoma and is entitled to receive proceeds from the sale of production attributable to the royalty interests. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the quarterly distributions is expected to fluctuate from quarter to quarter, depending on the proceeds received by the Trust as a result of actual production volumes, oil and natural gas prices and the amount and timing of the Trust’s administrative expenses, among other factors. All Trust unitholders share distributions on a pro rata basis.
http://www.nasdaq.com/symbol/sdt/dividend-history
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