Chesapeake Granite Wash Trust plans distribution journalrecord.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from journalrecord.com Daily Mail and Mail on Sunday newspapers.
(2) Marketing, gathering, and transportation costs exceeded sales price for the production period.
(3) Commencing with the distribution to unitholders payable in first quarter 2019, the Trustee began withholding the greater of $70,000 or 3.5% of the funds otherwise available for distribution each quarter to gradually increase existing cash reserves by a total of approximately $850,000. The Trustee may increase or decrease the targeted amount at any time, and may increase or decrease the rate at which it is withholding funds to build the cash reserve at any time, without advance notice to the unitholders. Cash held in reserve will be invested as required by the trust agreement. Any cash reserved in excess of the amount necessary to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities eventually will be distributed to unitholders, together with interest earned on the funds.