BP Prudhoe Bay Royalty Trust(BPT) - 2024 Q4 - Annual Results

Termination of BP Prudhoe Bay Royalty Trust - BP Prudhoe Bay Royalty Trust did not receive a royalty payment for the quarter ended December 31, 2024, and will not make a quarterly cash distribution to unitholders[5] - The Trust terminated at 11:59 PM on December 31, 2024, due to no revenue received for any of the four quarters of 2023 or 2024[5] - The Trust terminated as per the Trust Agreement when net revenues from the Royalty Interest were less than $1.0 million per year for two successive years[12] NYSE Delisting and Compliance Issues - The Trust received a delisting notice from NYSE as the average closing price of its units was less than$1.00 over 30 consecutive trading days[6] - The Trust must regain compliance with NYSE listing standards within six months by achieving a closing unit price of at least $1.00 and an average closing unit price of at least$1.00 over 30 trading days[7] - The Trust has no control over the trading price of its units and cannot take actions like a reverse split without unitholder approval[8] Potential Impact of Delisting - If delisted, the Trust's units may be transferred to the over-the-counter market, potentially affecting market price, trading volume, liquidity, and resale price[10]