BP Prudhoe Bay Royalty Trust - BPT- Profile

BP Prudhoe Bay Royalty Trust. The Trust's principal activity is that of a grantor trust formed for owning and administering a royalty interest in the production of oil from the Prudhoe Bay unit. BP Exploration (Alaska) Inc has conveyed an over-riding royalty interest to Standard Oil, which has in turn conveyed it to the Trust. The interest entitled on the average daily production of 90,000 barrels of oil and condensate per quarter from unit located on the North Slope in Alaska. The unit contains a medium grade, low sulfur crude oil in form of condensate. The Trust is a passive entity giving the trustees, the powers for the collection and distribution of revenues from the royalty interest and the payment of trust liabilities and expenses. A grantor trust which is entitled for a royalty on the barrels of average daily production of oil and condensate per quarter