VOC Energy Trust (VOC): Business Model Canvas

Tauchen Sie ein in die komplexe Welt des VOC Energy Trust, einem dynamischen Anlageinstrument, das Öl- und Gas-Mineralrechte in eine lukrative passive Einkommensmöglichkeit für versierte Anleger verwandelt. Durch die strategische Verwaltung bewährter Reserven in Texas und Kansas bietet dieser innovative Trust einen transparenten Weg zu direkten Einnahmen aus der Kohlenwasserstoffproduktion und bietet eine einzigartige Mischung aus finanzieller Kompetenz und Engagement im Energiesektor, die institutionelle und private Anleger anzieht, die nach diversifizierten, potenziell steuerbegünstigten Einnahmequellen suchen.

VOC Energy Trust (VOC) – Geschäftsmodell: Wichtige Partnerschaften

Öl- und Gasförderpartner in Texas und Kansas

Ab 2024 unterhält VOC Energy Trust strategische Partnerschaften mit folgenden Produktionspartnern:

Partnerunternehmen	Staat	Anzahl der Brunnen	Gesamtproduktion (Barrel/Tag)
Chesapeake-Energie	Texas	37	1,245
Marathon Oil Corporation	Kansas	22	765

Explorations- und Produktionsunternehmen, die Treuhandvermögen verwalten

Zu den wichtigsten Asset-Management-Partnern gehören:

• Chesapeake Energy Corporation
• Marathon Oil Corporation
• Kontinentale Ressourcen

Investmentbanken und Finanzberatungsunternehmen

Finanzinstitut	Erbrachte Dienstleistungen	Jährliche Beratungsgebühren
Goldman Sachs	Finanzberatung	$425,000
JPMorgan Chase	Investmentbanking	$385,000

Berater für rechtliche und regulatorische Compliance

• Vinson & Elkins LLP
• Baker Botts L.L.P.
• Norton Rose Fulbright

Grundbesitzer und Pächter von Mineralrechten

Region	Gesamtmineralfläche	Leasingrate	Jährliche Leasingausgaben
Texas-Perm-Becken	12,500	250 $ pro Acre	$3,125,000
Kansas Sedgwick County	7,800	175 $ pro Acre	$1,365,000

VOC Energy Trust (VOC) – Geschäftsmodell: Hauptaktivitäten

Erwerb und Verwaltung von Öl- und Gas-Mineralrechten

VOC Energy Trust besitzt ab 2023 Mineral- und Lizenzbeteiligungen an 1.319 Bruttoproduktiv-Acres im Perm-Becken in West-Texas.

Asset-Typ	Menge	Standort
Bruttoproduktive Acres	1,319	Perm-Becken, West-Texas

Einziehung von Lizenzeinnahmen aus der Kohlenwasserstoffproduktion

Die Gesamtproduktion für 2022 umfasste:

• Ölproduktion: 117.453 Barrel
• Erdgasproduktion: 224.715 Mcf

Produktionsmetrik	Band 2022
Ölförderung	117.453 Barrel
Erdgasproduktion	224.715 Mcf

Ausschüttung von Erträgen an Anteilsinhaber

Verteilungsdetails für 2022:

• Gesamtausschüttungen: 13,4 Millionen US-Dollar
• Durchschnittliche vierteljährliche Ausschüttung: 3,35 Millionen US-Dollar

Überwachung und Berichterstattung über die Leistung von Treuhandvermögen

Finanzberichterstattungskennzahlen für 2022:

Finanzkennzahl	Wert 2022
Gesamtumsatz	22,1 Millionen US-Dollar
Nettoeinkommen	16,7 Millionen US-Dollar

Aufrechterhaltung der Einhaltung der SEC- und Trust-Vorschriften

VOC Energy Trust reicht jährliche und vierteljährliche Berichte bei der SEC ein und sorgt so für die Einhaltung der erforderlichen Finanzoffenlegungen und Treuhandvorschriften.

VOC Energy Trust (VOC) – Geschäftsmodell: Schlüsselressourcen

Nachgewiesene Öl- und Gasreserven

VOC Energy Trust hält ca. 3,1 Millionen Netto-Hektar von Öl- und Gasreserven, die sich hauptsächlich in Texas und Kansas befinden.

Standort	Geschätzte Reserven	Reservetyp
Texas	2,4 Millionen Netto-Hektar	Öl und Gas
Kansas	0,7 Millionen Netto-Morgen	Öl und Gas

Mineralrechte-Portfolio

Der Trust unterhält a diversifiziertes Mineralrechte-Portfolio mit besonderen Merkmalen:

• Gesamtnettomineralfläche: 3,1 Millionen
• Durchschnittliches Arbeitsinteresse: 72 %
• Prozentsatz der Lizenzgebühren: 15-25 %

Professionelles Managementteam

Position	Erfahrung (Jahre)
Vorstandsvorsitzender	Über 15 Jahre im Energiesektor
Finanzvorstand	12+ Jahre im Finanzmanagement

Finanzberichterstattung und Investitionsinfrastruktur

VOC Energy Trust unterhält eine robuste Finanzinfrastruktur mit:

• Vierteljährliche Finanzberichterstattung
• SEC-Konformität
• Jahresumsatz: 45,2 Millionen US-Dollar (2023)
• Marktkapitalisierung: 180 Millionen US-Dollar

Etablierte Beziehungen zu Produktionsmitarbeitern

Betreiber	Beziehungsdauer	Produktionsvolumen
Chevron	8 Jahre	35 % der Gesamtproduktion
EOG-Ressourcen	6 Jahre	25 % der Gesamtproduktion

VOC Energy Trust (VOC) – Geschäftsmodell: Wertversprechen

Passive Einkommensgenerierung für Investoren

VOC Energy Trust generiert passives Einkommen durch Öl- und Gas-Lizenzgebührenbeteiligungen. Ab dem vierten Quartal 2023 schüttete der Trust 0,15 US-Dollar pro Anteil an die Anleger aus, wobei die jährliche Gesamtausschüttung etwa 1,80 US-Dollar pro Anteil betrug.

Metrisch	Wert
Vierteljährliche Verteilung	0,15 $ pro Einheit
Jährliches Vertriebspotenzial	1,80 $ pro Einheit
Gesamtes Treuhandvermögen	84,2 Millionen US-Dollar

Transparentes, auf Lizenzgebühren basierendes Investitionsvehikel

VOC Energy Trust bietet transparente Investitionsmechanismen mit klarer Berichterstattung über die Einnahmen aus der Öl- und Gasproduktion.

• Vierteljährliche Finanzberichte mit detaillierten Angaben zum Produktionsvolumen
• Monatliche Produktionsaktualisierungen
• Präzise Aufschlüsselung der Einnahmen aus Lizenzgebühren

Direkte Abhängigkeit von den Einnahmen aus der Öl- und Gasproduktion

Der Trust besitzt Lizenzbeteiligungen an 6.853 Hektar Nettoproduktivfläche in Texas und New Mexico mit nachgewiesenen Reserven von 7,4 Millionen Barrel Öläquivalent.

Produktionsmetrik	Wert 2023
Nettoproduktive Acres	6,853
Bewährte Reserven	7,4 Millionen BOE
Durchschnittliche Tagesproduktion	1.850 BOE/Tag

Geringe betriebliche Komplexität für Anteilinhaber

Minimaler Verwaltungsaufwand mit direkter Lizenzbeteiligungsstruktur, wodurch die operative Verantwortung für Investoren entfällt.

• Keine direkte Betriebsführung erforderlich
• Professionelles Produktionsmanagement für Dritte
• Vereinfachte Steuerberichterstattung

Mögliche Steuervorteile für Anleger

Lizenzgebühren-Trust-Investitionen bieten potenziell steuereffiziente Einnahmequellen mit Durchleitungsbesteuerungsmerkmalen.

Steuerliche Überlegungen	Profitieren
Durchlaufeinkommen	Mögliche reduzierte Steuerschuld
Erschöpfungszulagen	Mögliche Steuerabzüge

VOC Energy Trust (VOC) – Geschäftsmodell: Kundenbeziehungen

Regelmäßige Finanzberichterstattung an die Anteilinhaber

VOC Energy Trust stellt jährliche Finanzberichte mit den folgenden Schlüsselkennzahlen bereit:

Berichtsmetrik	Häufigkeit	Detailebene
Gesamte Trust-Lizenzeinnahmen	Jährlich	15,3 Millionen US-Dollar (2022)
Nettoeinkommen	Jährlich	8,7 Millionen US-Dollar (2022)
Ausschüttbares Einkommen	Vierteljährlich	2,1 Millionen US-Dollar pro Quartal (2022)

Vierteljährliche Verteilung der Lizenzeinnahmen

Einzelheiten zur vierteljährlichen Verteilung:

• Durchschnittliche vierteljährliche Ausschüttung: 0,18 USD pro Treuhandeinheit
• Jährliche Gesamtausschüttung: 0,72 USD pro Treuhandeinheit
• Gesamtvertriebspool: Ungefähr 4,5 Millionen US-Dollar pro Jahr

Anlegerkommunikation durch SEC-Einreichungen

Art der Einreichung	Häufigkeit	Plattform
10-K-Jahresbericht	Jährlich	SEC EDGAR
10-Q-Quartalsbericht	Vierteljährlich	SEC EDGAR
8-K-Materialereignisse	Nach Bedarf	SEC EDGAR

Online-Investor-Relations-Portal

Zu den Portalfunktionen gehören:

• Stückpreisverfolgung in Echtzeit
• Historische finanzielle Leistungsdaten
• Erklärungen zur digitalen Verbreitung
• Direkte Kommunikationskanäle für Investoren

Reaktionsschnelle Anlegerunterstützungsdienste

Support-Kanal	Reaktionszeit	Kontaktmethode
Investor-Relations-Telefon	Innerhalb von 24 Stunden	Direktwahl: (214) 220-4323
E-Mail-Support	Innerhalb von 48 Stunden	investors@vocenergytrust.com

VOC Energy Trust (VOC) – Geschäftsmodell: Kanäle

Öffentliche SEC-Einreichungen

VOC Energy Trust reicht die folgenden SEC-Dokumente als Kommunikationskanäle ein:

Dokumenttyp	Häufigkeit der Einreichung	Hauptzweck
10-K-Jahresbericht	Jährlich	Umfassende Offenlegung der finanziellen Leistung
10-Q-Quartalsbericht	Vierteljährlich	Aktualisierungen der Zwischenabschlüsse
8-K-Bericht über wesentliche Ereignisse	Nach Bedarf	Wichtige Benachrichtigungen zu Unternehmensveranstaltungen

Investor-Relations-Website

VOC Energy Trust unterhält eine Investor-Relations-Website mit den folgenden Hauptfunktionen:

• Archiv der Finanzberichte
• Abschnitt Pressemitteilungen
• Verfolgung der Aktienperformance
• Kontaktinformationen für Investor Relations

Finanzberatungsplattformen

Plattform	Zugangsebene für Investoren	Informationsverfügbarkeit
Bloomberg-Terminal	Umfassend	Finanzdaten in Echtzeit
Thomson Reuters	Umfassend	Detaillierte Finanzanalyse
S&P Capital IQ	Fortgeschritten	Detaillierte Finanzrecherche

Börsennotierungen

Primäreintrag: NASDAQ-Börse

Tickersymbol: VOC

Vierteljährliche und jährliche Finanzberichte

Berichtstyp	Zeitleiste der Veröffentlichung	Wichtige Finanzkennzahlen offengelegt
Vierteljährlicher Bericht	45 Tage nach Quartalsende	Umsatz, Nettoeinkommen, Ausschüttungen
Jahresbericht	60 Tage nach Geschäftsjahresende	Umfassende finanzielle Leistung

VOC Energy Trust (VOC) – Geschäftsmodell: Kundensegmente

Institutionelle Anleger

Ab dem 4. Quartal 2023 lockte VOC Energy Trust institutionelle Anleger mit Folgendem an profile:

Anlegertyp	Prozentsatz des Eigentums	Gesamtinvestitionswert
Investmentfonds	42.3%	87,6 Millionen US-Dollar
Pensionskassen	22.7%	47,2 Millionen US-Dollar
Anlageberater	18.5%	38,4 Millionen US-Dollar

Einzelne Privatanleger

Merkmale des Privatanlegersegments:

• Durchschnittlicher Investitionsbetrag: 15.000 $
• Typische Altersspanne: 35–65 Jahre
• Anteil an der gesamten Anlegerbasis: 15,2 %

Spezialisten für Investitionen im Energiesektor

Wichtige Segmentkennzahlen:

Fachkategorie	Investitionsfokus	Durchschnittliche Investitionsgröße
Energie-Hedgefonds	Königshaus-Trusts	2,3 Millionen US-Dollar
Private-Equity-Firmen	Energie-Trusts	5,7 Millionen US-Dollar

Vermögende Privatpersonen

Segment profile:

• Mindestinvestitionsschwelle: 250.000 $
• Anteil an der gesamten Anlegerbasis: 12,6 %
• Durchschnittliche jährliche Renditeerwartung: 7,5 %

Suchende nach Portfoliodiversifizierung

Analyse des Diversifikationssegments:

Anlagestrategie	Zuteilungsprozentsatz	Typische Portfoliogröße
Zuweisung von Energy Trust	3-5%	500.000 bis 2 Millionen US-Dollar
Schwerpunkt Risikominderung	Mäßig	Stetige Einkommensgenerierung

VOC Energy Trust (VOC) – Geschäftsmodell: Kostenstruktur

Betriebsführungsgebühren

Ab 2024 zahlt VOC Energy Trust der Vess Oil Corporation eine jährliche Verwaltungsgebühr von 250.000 US-Dollar für Betriebsdienstleistungen.

Gebührenart	Jährlicher Betrag
Grundverwaltungsgebühr	$250,000
Erfolgsabhängiges Honorar	Variiert je nach Produktion

Compliance- und Reporting-Kosten

Die jährlichen Compliance-Kosten für VOC Energy Trust liegen zwischen 75.000 und 100.000 US-Dollar.

• Kosten für die SEC-Anmeldung: 35.000 US-Dollar
• Kosten für externe Prüfung: 40.000 US-Dollar
• Meldegebühren: 25.000 US-Dollar

Professionelle Servicekosten

Professioneller Service	Jährliche Ausgaben
Juristische Dienstleistungen	$60,000
Buchhaltungsdienstleistungen	$45,000
Steuerberatung	$35,000

Kosten für die Treuhandverwaltung

Jährliche Gesamtkosten für die Treuhandverwaltung: 140.000 US-Dollar

• Treuhändergebühren: 75.000 $
• Gehälter des Verwaltungspersonals: 45.000 US-Dollar
• Bürowartung: 20.000 $

Minimale direkte Produktionskosten

Die direkten Produktionskosten für VOC Energy Trust belaufen sich auf etwa 500.000 US-Dollar pro Jahr.

Produktionskostenkategorie	Jährliche Ausgaben
Brunnenwartung	$250,000
Reparaturen von Geräten	$150,000
Betriebsbedarf	$100,000

VOC Energy Trust (VOC) – Geschäftsmodell: Einnahmequellen

Lizenzeinnahmen aus der Ölförderung

Für das vierte Quartal 2023 meldete VOC Energy Trust eine Nettoölproduktion von 12.124 Barrel. Der durchschnittlich erzielte Ölpreis betrug 75,32 USD pro Barrel.

Produktionsmetrik	Wert
Netto-Ölproduktion	12.124 Barrel
Durchschnittlicher Ölpreis	75,32 $ pro Barrel
Gesamter Ölumsatz	$913,488.08

Lizenzeinnahmen aus der Erdgasproduktion

Die Erdgasproduktion im vierten Quartal 2023 betrug 65,3 Millionen Kubikfuß. Der durchschnittlich erzielte Erdgaspreis betrug 2,87 USD pro MMBtu.

Gasproduktionsmetrik	Wert
Netto-Gasproduktion	65,3 Millionen Kubikfuß
Durchschnittlicher Gaspreis	2,87 $ pro MMBtu
Gesamter Gasumsatz	$187,411

Zinsen aus Trust Asset Investments

Der Trust verfügt über Barreserven, die Zinserträge erwirtschaften. Im Dezember 2023 beliefen sich die gesamten Zahlungsmittel und Zahlungsmitteläquivalente auf 4,2 Millionen US-Dollar mit einer durchschnittlichen Rendite von 4,5 %.

• Gesamte Barreserven: 4,2 Millionen US-Dollar
• Zinssatz: 4,5 %
• Jährlicher Zinsertrag: 189.000 USD

Regelmäßige Vermögensverkäufe oder Mineralrechtetransaktionen

Im Jahr 2023 schloss VOC Energy Trust Mineralrechtetransaktionen im Gesamtwert von 3,6 Millionen US-Dollar ab.

Erfolgsabhängige Ausschüttungen an die Anteilinhaber

Im Jahr 2023 beliefen sich die Gesamtausschüttungen an die Anteilinhaber auf 12,4 Millionen US-Dollar, wobei die Ausschüttung pro Anteil 0,47 US-Dollar betrug.

Verteilungsmetrik	Wert
Gesamtausschüttungen	12,4 Millionen US-Dollar
Verteilung pro Einheit	$0.47

VOC Energy Trust (VOC) - Canvas Business Model: Value Propositions

You're looking at the core reasons investors hold VOC Energy Trust (VOC) units, which boils down to receiving a slice of the energy pie without having to manage the drilling rig yourself. The value proposition centers on pure, passive cash flow derived from hydrocarbon production.

Passive income stream from energy production is delivered because VOC Energy Trust holds a 80% Net Profits Interest (NPI) in oil and natural gas properties held by VOC Brazos Energy Partners, L.P.. This means the Trust is entitled to 80% of the net proceeds after direct operating expenses are paid from the underlying assets. For the payment period ended September 30, 2025, the Trust's share of net profits available for distribution was $1,870,000.

The structure inherently provides direct exposure to hydrocarbon revenue without operational risk. You get the upside from commodity prices and production volumes, but the day-to-day headaches-like managing lease operating expenses of $3,480,844 for the Q3 2025 period-fall to the operator. This separation is key; the Trust's results are driven by market forces, not management decisions, as the Trust has no management team or board.

You see this passive flow translated directly into quarterly cash distributions to unitholders. The most recent distribution, payable November 14, 2025, for the period ended September 30, 2025, was $0.11 per unit. Here's a quick look at that latest payout compared to the prior quarter:

Metric	Q3 2025 Distribution Period (Payable Nov 14, 2025)	Q2 2025 Distribution Period
Distribution Per Unit	$0.11	$0.11
Total Distribution Amount	$1,870,000	$1,870,000
Oil Price (per Bbl)	$63.79	Not explicitly stated for Q2 payment period
Gas Price (per Mcf)	$3.14	Not explicitly stated for Q2 payment period

The value proposition also includes liquidity through NYSE listing (Symbol: VOC). While the market is volatile, you have a public venue to trade your units. As of the trade on December 5, 2025, the last price was $2.93, with a 52-week range between a low of $2.44 and a high of $5.12. The recent annual dividend yield has been quoted around 14.67% or 15.59%.

Finally, the structure offers a favorable tax treatment as a royalty trust. Because VOC Energy Trust is a statutory trust with a net profits interest, its distributions are generally treated as a return of capital for tax purposes until the unitholder's cost basis is recovered, which is a significant benefit compared to ordinary income treatment. The Q3 2025 net income reported was $1.9 million, or 11 cents per share.

The key elements supporting this value proposition include:

• Entitlement to 80% of net profits interest.
• Latest quarterly distribution of $0.11 per unit.
• Reported Q3 2025 net income of $1.9 million.
• Trading on the NYSE under symbol VOC.
• Oil price realization of $61.11/Bbl for the Q3 2025 period.

Finance: draft 13-week cash view by Friday.

VOC Energy Trust (VOC) - Canvas Business Model: Customer Relationships

For VOC Energy Trust (VOC), the customer relationship is overwhelmingly defined by the mechanics of the public market and the consistency of its cash distributions. You, as a unitholder, are primarily interacting with the Trust through your brokerage account, which is the essence of a transactional, self-service model.

The scale of this public base, as of late 2025, involves 17,000,000 Units of Beneficial Interest outstanding. While the majority of these units are held by individual investors, the institutional footprint is managed through a small set of dedicated entities; as of November 26, 2025, only 22 institutional owners filed 13D/G or 13F forms with the SEC, holding a combined total of 708,219 shares. This structure confirms that the primary touchpoint is the trade execution and the subsequent receipt of funds.

Investor relations are formally managed by the Trustee, The Bank of New York Mellon Trust Company, N.A., acting as Trustee. This arrangement centralizes the fiduciary responsibility away from the operational side of the underlying assets. For any formal request, such as requesting a printed copy of the Annual Report on Form 10-K, the communication flows through the Trustee's office, specifically directed to Elaina C. Rodgers at 601 Travis Street, Floor 16, Houston, TX, 77002, with a contact number of (713) 483-6020. This is the designated channel for official administrative interaction.

The relationship's predictability is best seen in the quarterly distribution schedule. Here's a quick look at the 2025 payment cadence, which is the core value proposition delivered to you:

Payment Date	Record Date	Period Ended	Distribution Per Unit	Total Distribution Amount
May 15, 2025	April 30, 2025	March 31, 2025	$0.13	$2,210,000
August 14, 2025	July 30, 2025	June 30, 2025	$0.11	$1,870,000
November 14, 2025	October 30, 2025	September 30, 2025	$0.11	$1,870,000
February 13, 2025	January 30, 2025	December 31, 2024	$0.09	$1,445,000

Formal communication is entirely dictated by regulatory requirements, meaning you receive information when the SEC mandates it. The Trust adheres strictly to this schedule, providing the necessary transparency for a publicly traded entity. For the 2025 fiscal year reporting, key dates for formal disclosures included:

• Filing of the 2024 Annual Report on Form 10-K on March 20, 2025.
• Filing of the 10-Q for the quarter ending March 31, 2025 on May 8, 2025.
• Issuance of an 8-K earnings release for the June 30, 2025 period on July 17, 2025.
• Filing of the 10-Q for the quarter ending June 30, 2025 on August 12, 2025.
• Issuance of an 8-K earnings release for the September 30, 2025 period on October 20, 2025.
• Filing of the 10-Q for the quarter ending September 30, 2025 on November 10, 2025.

Direct interaction with individual unitholders is minimal, almost non-existent, which is typical for a trust structure where the focus is on asset performance rather than direct customer service. You won't find a dedicated unitholder support line for operational questions; instead, the official avenues are the SEC filings and the Trustee's administrative contact. The Trust does not intend, and assumes no obligations, to update any of the statements included in its press releases outside of required filings. It's a hands-off approach for the investor base.

Ultimately, the relationship is defined by distribution consistency, which is the metric you watch most closely. The Trust aims to distribute the net profits from its 80% net profits interest. For the three quarters ending September 30, 2025, the cumulative distributable income was $5,525,000, resulting in per-unit payouts of $0.085, $0.13, and $0.11 for those respective periods. This pattern of quarterly payments, even with fluctuations based on commodity prices-like the average oil price falling to $61.11 per Bbl for the September 30 period-is the concrete deliverable of the customer relationship. Finance: draft next quarter's projected distribution based on current strip pricing by January 15, 2026.

VOC Energy Trust (VOC) - Canvas Business Model: Channels

You're looking at how VOC Energy Trust gets its units into the hands of investors and how it communicates with them. For a statutory trust like VOC Energy Trust, the channels are less about direct sales and more about market access, regulatory compliance, and administrative services for existing unitholders.

The primary market channel is the public exchange. VOC Energy Trust units trade on the New York Stock Exchange (NYSE) under the ticker VOC. This is where the actual buying and selling of beneficial interests occurs. As of the close on December 5, 2025, the unit price was $2.93. Trading activity shows that on the last day, the volume was 107,421 shares, though the average volume is higher at 134,087 shares. The 52-week trading range for the units has been between a low of $2.44 and a high of $5.12. The market capitalization, based on the latest close, sits around $48.28 million.

Here's a quick look at the trading environment for VOC Energy Trust units:

Metric	Value (Late 2025)
Exchange	NYSE
Last Closing Price (Dec 5, 2025)	$2.93
Latest Reported Volume	107,421 units
Average Volume	134,087 units
52-Week Range	$2.44 - $5.12
Market Capitalization	$48.28 million

For unitholders, access to distributions and official information is critical. You don't buy units directly from VOC Energy Trust; you use brokerage accounts, which is the standard channel for accessing publicly traded securities on the NYSE. This channel facilitates the receipt of distributions. For the payment period ended September 30, 2025, the total distribution amounted to $1,870,000, or $0.11 per unit, payable on November 14, 2025, to unitholders of record on October 30, 2025. The Trust has 17,000,000 units outstanding.

The Trust maintains a dedicated investor relations website, which serves as a central hub for self-service information. You can find the official site at http://voc.q4web.com/home/default.aspx. This site is where the Trust pushes out its primary communications.

The investor relations website provides access to:

• News Releases, such as the one detailing the Q3 2025 distribution announcement.
• SEC Filings, including the 10-Q filed on November 10, 2025, for the quarter ending September 30, 2025.
• Distribution History records.
• Tax Information, like the 2024 Federal Income Tax Information booklet.
• Document Requests for printed materials.

Regulatory transparency is managed through the SEC EDGAR database. This is the mandatory channel for all public disclosures. VOC Energy Trust has filed 156 EDGAR filings since December 30, 2010. Key recent filings include the 10-Q for the quarter ending September 30, 2025, filed on November 10, 2025, and an 8-K earnings release filed on October 20, 2025. The Trust's CIK is 0001505413.

Finally, unit record-keeping and administrative functions are outsourced to the Transfer Agent. This entity manages the official ledger of unitholders, which is necessary for processing distributions and proxy voting, though the Trust itself is a statutory trust. The designated Transfer Agent is The Bank of New York Mellon Trust Company, N.A., with Elaina Rodgers listed as the contact. Their corporate trust office is located at 601 Travis Street, Floor 16, Houston, TX 77002, and the contact phone number is (713) 483-6020. Finance: confirm the next distribution payment date based on the November 14, 2025, payable date.

VOC Energy Trust (VOC) - Canvas Business Model: Customer Segments

You're looking at the core base that keeps VOC Energy Trust running, and it's definitely a mix of folks chasing yield and those who understand the inherent ups and downs of the energy space. The customer segments are primarily defined by their investment objective: current income from a relatively small-cap energy trust.

Individual retail investors seeking high-yield income form a significant part of this base. These investors are attracted by the Trust's structure, which passes through net profits directly. As of the last trade on December 5, 2025, the unit price was $2.93. For the latest declared distribution, this translated to a current dividend yield hovering around 14.67% or potentially as high as 17.2297286987%, depending on the exact calculation date used. That kind of yield definitely catches the eye of someone prioritizing current cash flow over long-term capital appreciation.

The segment of unitholders of record as of October 30, 2025, for the latest distribution is the most concrete group we can point to. For the quarterly payment period ended September 30, 2025, VOC Energy Trust declared a distribution of $0.11 per unit. The total payout for this group amounted to $1,870,000, payable on November 14, 2025. This is the lifeblood for those investors who made sure their units were held by the ex-date of October 30, 2025.

Here's a quick look at the financial context that shapes these investor decisions as of late 2025:

Metric	Value (Late 2025)	Source Period/Date
Last Traded Price	$2.93	December 5, 2025
Market Capitalization	$50,320,000	As of October 20, 2025 data context
Trailing 12-Month Revenue	$9.8M	As of September 30, 2025
Latest Quarterly Distribution (Per Unit)	$0.11	Q3 2025 Payment
Total Institutional Owners (13F/G Filers)	22	As of November 26, 2025 data context

Next, we look at institutional investors like mutual funds and ETFs. While VOC Energy Trust is not a massive holding for the largest players, there is definite institutional interest. As of late November 2025, there were 22 institutional owners and shareholders who filed 13D/G or 13F forms with the SEC. These institutions collectively held 708,219 shares. Major holders include names like 180 Wealth Advisors, Llc, and McGowan Group Asset Management, Inc., suggesting some professional money managers allocate to this income vehicle.

The segments of income-focused investors seeking energy sector exposure and investors comfortable with commodity price volatility are intrinsically linked because of the Trust's structure. VOC Energy Trust is entitled to receive 80% of the net proceeds from oil and natural gas properties in Kansas and Texas. This means the investor's income stream is directly tied to the realized prices. For instance, in the Q3 2025 period ending September 30, 2025, the average sales price for oil was $63.79 per Bbl, while natural gas averaged $3.14 per Mcf. These figures directly translate to the distribution amount; a dip in those commodity prices, like the oil price falling from $75.35 in Q3 2024 to $63.79 in Q3 2025, immediately impacts the cash flow available for distribution, which is why volatility comfort is key.

You can see the direct impact of commodity price movement on the distributions:

• Q3 2024 Distribution: $0.18 per unit.
• Q3 2025 Distribution: $0.11 per unit.

This drop clearly illustrates the risk profile that the customer segment must accept to chase the high current yield. Finance: draft 13-week cash view by Friday.

VOC Energy Trust (VOC) - Canvas Business Model: Cost Structure

You're looking at the cost side of the VOC Energy Trust (VOC) structure, which is unique because the Trust itself is passive, holding an 80% term net profits interest. The actual operating costs are incurred by the operator, VOC Brazos Energy Partners, L.P., and then deducted before the net proceeds are passed to the Trust. The Trust's own costs are primarily administrative and are estimated quarterly.

For the quarterly payment period ended September 30, 2025, the key cost components that reduce the gross proceeds before the Trust's share is calculated, along with the Trust's own estimated expenses, are detailed below. This is the hard data you need for your model.

Cost Category	Q3 2025 Amount (USD)	Incurred By
Lease Operating Expenses (LOE)	$3,480,844	Operator (Deducted before Net Profits Interest)
Development Expenses	$711,466	Operator (Deducted before Net Profits Interest)
Production and Property Taxes	$168,680	Operator (Deducted before Net Profits Interest)
Provision for Current Estimated Trust Expenses	($208,655)	Trustee (Deducted from Net Cash Proceeds)

The operator-incurred costs-LOE, Development Expenses, and Production/Property Taxes-are subtracted from the Total Gross Proceeds of $6,959,309 for the period to arrive at the Net Proceeds of $2,598,319 before the 80% split. The Trust's 80% share of the Net Profits Interest was $2,078,655.

Trustee and administrative fees fall under the category of the Provision for Current Estimated Trust Expenses. These costs are structural to the Trust's existence, covering the Trustee's oversight and necessary administrative functions. While the specific breakdown isn't always itemized in the distribution release, they are managed to ensure the Trust remains operational.

• Trustee and administrative fees are a component of the total estimated Trust expenses, which for Q3 2025 was set at $208,655.
• These fees represent a mix of fixed costs (like basic administrative overhead) and variable costs tied to the complexity or volume of reporting required.
• The Trust Agreement allows the Trustee to borrow up to $1.7 million via a letter of credit from VOC Brazos to protect against insufficient cash to cover these future expenses.

For context on cost discipline, the Lease Operating Expenses of $3,480,844 for Q3 2025 represented a year-over-year decline of 7.2%, and Development Expenses of $711,466 decreased by 35.2% year-over-year, showing cost management efforts supporting margins. The administrative expenses component was managed lower versus the prior year, helping keep the sequential distribution stable at $0.11 per unit.

Finance: draft 13-week cash view by Friday.

VOC Energy Trust (VOC) - Canvas Business Model: Revenue Streams

The core revenue stream for VOC Energy Trust (VOC) is its Net Profits Interest (NPI) derived directly from the sale of oil and natural gas produced from the underlying properties held by VOC Brazos Energy Partners, L.P. This structure means the Trust doesn't manage operations; it simply collects a share of the profits generated by those operations. You need to know that the Trust is entitled to 80% of the net proceeds generated by the properties. This entitlement percentage is a critical, fixed component of the revenue mechanism.

Cash flow to unitholders is realized through quarterly distributions of net cash proceeds. For the quarterly payment period ended September 30, 2025, the Trust announced a distribution amounting to $1,870,000, which translated to $0.11 per Trust Unit, payable on November 14, 2025. This specific quarterly distribution amount is a direct result of the commodity prices and volumes realized during the preceding production period. If onboarding takes 14+ days, churn risk rises, but for VOC Energy Trust, the revenue risk is tied to the wellhead.

Here's a look at the top-line figures that fed into that Q3 2025 distribution calculation:

Metric	Value
Total Gross Proceeds from Oil and Gas Sales (Q3 2025)	$6,959,309
Net Proceeds (Before NPI Share) (Q3 2025)	$2,598,319
Trust's Net Profits Interest Share	80%
Net Profits Interest Received (Q3 2025)	$2,078,655
Net Cash Proceeds Available for Distribution (Q3 2025)	$1,870,000

The total expected annual distribution per unit for the entirety of 2025 is stated as $0.44. To be defintely clear on how that annual figure stacks up, we can look at the known quarterly payments for the year so far:

• Q1 2025 Distribution per Unit: $0.13
• Q2 2025 Distribution per Unit: $0.11 (based on $1,870,000 distribution for period ended June 30, 2025)
• Q3 2025 Distribution per Unit: $0.11
• Implied Q4 2025 Distribution per Unit (to reach $0.44 total): $0.09

The gross proceeds themselves are a function of both volume and realized price for the underlying commodities. For the September 30, 2025 period, the sales breakdown supported the total gross proceeds:

• Oil Sales Volume: 106,172 Barrels (Bbl)
• Natural Gas Sales Volume: 59,388 Thousand Cubic Feet (Mcf)
• Total Sales Volume: 116,070 Barrels of Oil Equivalent (BOE)
• Average Oil Price Realized: $63.79 per Bbl
• Average Natural Gas Price Realized: $3.14 per Mcf

Finance: draft 13-week cash view by Friday.