Last $0.11 USD
Change Today -0.012 / -9.83%
Volume 49.0K
TELOZ On Other Exchanges
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As of 10:48 AM 12/18/14 All times are local (Market data is delayed by at least 15 minutes).

tel offshore trust (TELOZ) Snapshot

Open
$0.12
Previous Close
$0.12
Day High
$0.13
Day Low
$0.10
52 Week High
03/18/14 - $1.49
52 Week Low
12/2/14 - $0.10
Market Cap
523.1K
Average Volume 10 Days
11.1K
EPS TTM
--
Shares Outstanding
4.8M
EX-Date
09/25/09
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for TEL OFFSHORE TRUST (TELOZ)

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tel offshore trust (TELOZ) Details

Tel Offshore Trust, through its interest in TEL Offshore Trust Partnership, owns 100% overriding royalty interests in certain oil and gas properties located offshore Louisiana. The company was founded in 1983 and is based in Austin, Texas.

Founded in 1983

tel offshore trust (TELOZ) Top Compensated Officers

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Executives, Board Directors

tel offshore trust (TELOZ) Key Developments

the Bank of New York Mellon Made an Advance of $363,000 to the TEL Offshore Trust

The Bank of New York Mellon made an advance to the TEL Offshore Trust (the Trust) in the amount of $363,000, and the Bank of New York Mellon Trust Company, N.A., in its capacity as corporate trustee (the Trustee) for the Trust, as the borrower, has entered into a Demand Promissory Note (the Demand Note) with the Bank of New York Mellon, as lender (the Lender), relating to the unsecured $363,000 advance. The Demand Note bears interest at the rate of 0.5% per annum. Pursuant to the terms of the Demand Note, all amounts outstanding under the Demand Note will be due and payable in cash on the earliest to occur of (i) the date written demand for payment is made by the Lender or (ii) December 31, 2015. The Trust may prepay any outstanding principal and accrued and unpaid interest under the Demand Note, in whole or in part, at any time without penalty.

Tel Offshore Trust Announces Not to Pay Dividend for Third Quarter of 2014

Tel Offshore Trust will not make a distribution for the third quarter of 2014 to unit holders of record on September 30, 2014. The Trust has not been able to make a distribution to unit holders for twenty-three consecutive quarters, or since January 9, 2009.

Tel Offshore Trust Reports Financial and Production Results for the First Quarter of 2014

Tel Offshore Trust reported financial results for the first quarter of 2014. For the quarter, capital expenditures increased by $4,023 to $141,634, as compared to $137,611 in the fourth quarter of 2013. Operating expenses increased by $716,215 in the first quarter of 2014 to $1,688,559 as compared to $972,344 for the fourth quarter of 2013. Natural gas volumes during the first quarter of 2014 were 20,587 Mcf compared to 22,415 Mcf for the fourth quarter of 2013. The fourth quarter included a prior period adjustment for Ship Shoal 182/183 that resulted in a decrease of 7,868 Mcf. Excluding the prior period adjustments for each quarter, natural gas volumes during the first quarter of 2014 decreased approximately 36% to 19,395 Mcf from 30,281 Mcf during the fourth quarter of 2013. The decrease in production is primarily due to wells being shut in for maintenance work at Ship Shoal 182. Excluding the impact of prior period adjustments, the average price received for natural gas production increased approximately 57% to $4.55 per Mcf in the first quarter of 2014 from $2.90 per Mcf in the fourth quarter of 2013. Crude oil and condensate revenues recorded by Chevron for the quarter on the burdened royalty properties decreased approximately 29% to $2,248,374 in the first quarter of 2014 from $3,163,484 in the fourth quarter of 2013. Crude oil and condensate volumes during the first quarter of 2014 decreased approximately 48% to 22,568 barrels, compared to 43,164 barrels during the fourth quarter of 2013. Excluding the impact of prior period adjustments, which had the effect of increasing the recorded volume in the fourth quarter by 7,580 barrels, crude oil and condensate volumes during the first quarter of 2014 decreased approximately 37% to 22,563 barrels, compared to 35,583 barrels reported in the fourth quarter of 2013. The decrease in production is primarily due to wells being shut in for maintenance work at Ship Shoal 182. Excluding the impact of prior period adjustments, the average price received for crude oil and condensate production decreased approximately 9% to $98.95 per barrel in the first quarter of 2014 as compared to $108.44 per barrel in the fourth quarter of 2013.

 

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TELOZ

Industry Average

Valuation TELOZ Industry Range
Price/Earnings -- Not Meaningful
Price/Sales 28,984.2x
Price/Book 45.2x
Price/Cash Flow -- Not Meaningful
TEV/Sales 28,001.2x
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