GULTU Research | Milton Maxwell

GULTU

Gulf Coast Ultra Deep Royalty Trust

0.0310

-0.0010-3.13%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

7.14M

P/E (TTM)

Basic EPS (TTM)

0.00

Dividend Yield

Recent Filings

10-Q

Q3 FY2025 results

11/12/25Nov 12, 2025

Gulf Coast Ultra Deep Royalty Trust posted administrative expenses of $108,445 for Q3 ended September 30, 2025, up 28.6% y/y from $84,282 (derived), while nine-month expenses fell to $507,793 from $662,047. No royalty income arrived, as the onshore Highlander well remains shut in post-abandonment, with a new well spudded January 30, 2025, targeting 30,000-foot depth in Q4. Operating cash sat at $20,205, backed by $1.05M reserve fund cash against a $361,664 note payable to HOGA; HOGA provided $350,000 annual contribution plus loans. No distributions occurred. New well outcome hangs in balance.

10-Q

Q2 FY2025 results

8/13/25Aug 13, 2025

Gulf Coast Ultra Deep Royalty Trust posted administrative expenses of $399,348 for Q2 ended June 30, 2025, up from $156,042 y/y (derived), leaving $399,079 excess costs over $269 interest income and zero royalty income. No production persists after the prior Highlander well's abandonment, fully impaired in 2023. HOGA spudded a new 30,000-foot well January 30, 2025, targeting Q4 completion. Yet expenses outpaced contributions. Operating cash sits at $19,983, backed by $1.0M reserve fund; note payable to HOGA hit $253,219. No distributions again. New well outcome unknown.

10-Q

Q1 FY2025 results

5/14/25May 14, 2025

Gulf Coast Ultra Deep Royalty Trust posted $273 interest income for Q1 ended March 31, 2025, up from a $420,383 administrative shortfall y/y, yet zero distributable income persists with no royalties from the onshore Highlander interest. Admin expenses dropped to zero from $421,723 y/y, covered by HOGA funding. Operating cash sits at $15,843, backed by $1.03M reserve fund cash against $1.18M liability and $200,000 note payable to HOGA. No distributions again. New well spudded January 30, 2025, targets 30,000 feet by Q4. HOGA holds sway over drilling outcomes.

10-K

FY2024 results

3/28/25Mar 28, 2025

Gulf Coast Ultra Deep Royalty Trust posted zero royalty income for FY2024 ended December 31, 2024, down from $401,278 in 2023 tied to 101,352 Mcf of natural gas from the onshore Highlander well, which shut in March 2023 and was plugged starting March 2024 after water intrusion killed output. Q4 saw no production or distributions, extending the dry spell while administrative expenses hit $899,455 versus $469,821 last year, funded by $516K in FCX contributions and a $200K loan now held by HOGA post-assignment. No proved reserves remain. HOGA spudded a new Highlander well January 30, 2025—outcome unknown. No guidance issued. Production halts crushed distributions.

10-Q

Q3 FY2024 results

11/14/24Nov 14, 2024

Gulf Coast Ultra Deep Royalty Trust posted zero royalty income for Q3 ended September 30, 2024, matching last year but down from $401,278 YTD 2023 (derived), as the sole Highlander well was plugged and abandoned after water intrusion shut in production March 2023. Administrative expenses fell 22% q/q to $84,282 yet rose 41% YTD to $662,047, covered by reserve fund draws and FCX contributions including $350,000 annual max. No distributions again. Trust corpus sank to $(98,870). $1.1M reserve fund backs obligations. No debt. Post-plug, leases terminated. HOGA controls any drilling revival. Production fully ceased.