Dominion Resources Black Warrior Trust Announces 4th Quarter Cash Distribution
DALLAS, Nov. 19, 2012
DALLAS, Nov. 19, 2012 /PRNewswire/ -- Dominion Resources Black Warrior Trust
(NYSE: DOM) today announced a quarterly cash distribution to the holders of
its units of beneficial interest of $0.135622 per unit. The distribution will
be payable December 7, 2012 to unitholders of record on November 29, 2012.
Dominion's cash distribution history, current and prior year financial
reports, a link to filings made with the Securities and Exchange Commission
and more can be found on its website at
This distribution represents the quarterly royalty payment from Walter Black
Warrior Basin LLC ("WBWB") reflecting production from July 1, 2012 to
September 30, 2012. WBWB reported that production attributable to the Trust's
overriding royalty interests was approximately 503 million cubic feet ("MMcf")
during this period compared to 505 MMcf in the previous quarter. Prices for
this quarter to the trust averaged $2.78 per Mcf compared to $2.19 per Mcf for
the previous quarter. Although production was relatively flat, prices for
natural gas increased.
The Trust is designed to provide unitholders with quarterly cash distributions
from its royalty interests in certain coal seam gas properties. The units are
listed on The New York Stock Exchange under the symbol "DOM".
The Trust owns overriding royalty interests burdening certain proved developed
coal seam gas properties owned by WBWB and located in the Black Warrior Basin
of Alabama. The Trust is a grantor trust originally formed by Dominion
In March 2012, WBWB notified the Trustee that it is undertaking a study of the
Underlying Properties on a well-by-well basis to determine the economic
viability of continuing to produce each individual well. If WBWB decides to
suspend production or abandon any such wells, such decision could adversely
affect the Trust's future revenue stream, and if a significant number of wells
are abandoned, it could cause a termination of the Trust. As of this date,
the study has not been completed. This should be completed by year end.
SOURCE Dominion Resources Black Warrior Trust
Contact: Ron E. Hooper, Senior Vice President, U.S. Trust, Bank of America
Private Wealth Management, Trustee, +1-800-365-6548
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