Last $20.42 USD
Change Today -0.111 / -0.54%
Volume 19.8K
NRT On Other Exchanges
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As of 8:04 PM 09/22/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

43 West Front Street

Suite 19A

Red Bank, NJ 07701

United States

Phone: 732-741-4008

Fax: 732-741-3140

North European Oil Royalty Trust, a grantor trust, holds overriding royalty rights covering gas and oil production in certain concessions or leases in the Federal Republic of Germany. The company holds these rights under contracts with local German exploration and development subsidiaries of ExxonMobil Corp. (ExxonMobil) and the Royal Dutch/Shell Group of Companies (Royal Dutch/Shell Group). Properties The company’s leases or concessions are held either by Mobil Erdgas-Erdol GmbH (Mobil Erdgas), a German operating subsidiary of ExxonMobil, or by Oldenburgische Erdolgesellschaft (OEG). ExxonMobil owns two- thirds of OEG and the Royal Dutch/Shell Group owns one-third of OEG. The Oldenburg concession (1,398,000 acres), covering the entire former Grand Duchy of Oldenburg and located in the German federal state of Lower Saxony, provides approximately 100% of the royalties received by the company. BEB Erdgas und Erdol GmbH (BEB), a joint venture in which ExxonMobil and the Royal Dutch/Shell Group each own 50%, administers the concession held by OEG. Mobil Erdgas and BEB formed ExxonMobil Production Deutschland GmbH to carry out all exploration, drilling, and production activities. Under one set of rights covering the western part of the Oldenburg concession (approximately 662,000 acres), the company receives a royalty payment of 4% on gross receipts from sales by Mobil Erdgas of gas well gas, oil well gas, crude oil, and condensate. History North European Oil Royalty Trust was founded in 1975.

 

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