Gulf Coast Ultra Deep Royalty Trust
GULTU
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- Gulf Coast Ultra Deep Royalty Trust (GULTU) owns a net profits interest in the McMoRan Oil & Gas LLC No. 1 Well (the Subject Interest), which equates to a 72.5% net profits interest in the gross production of oil, condensate, and natural gas from specific ultra-deep wells located on the Ship Shoal Area in federal waters offshore Louisiana. The trust receives net proceeds from the sale of production attributable to the Subject Interest after deducting the operator's 20% share of exploration and development costs, as well as operating expenses, lease operating expenses, and other specified costs. The trust holds no operating assets or obligations beyond its royalty interests and distributes substantially all of its net cash proceeds from production to unitholders on a quarterly basis, net of administrative expenses. The trust was formed in 2012 and is headquartered in Dallas, Texas; it operates exclusively within the U.S. Gulf of Mexico region, targeting institutional and individual investors seeking exposure to ultra-deepwater oil and gas production. Core activities focus on passive income generation from hydrocarbons produced from the Blackbeard No. 1 and Blackbeard No. 2 wells, with production volumes and net profits varying based on commodity prices, production rates, and cost recoveries. The trust's units trade over-the-counter under the ticker GULTU. Recent developments include ongoing production from the ultra-deep horizons, with quarterly distributions reflecting fluctuating net profits amid volatile energy markets; no major acquisitions, partnerships, funding rounds, or strategic shifts have been reported in the last 1-2 years, as the trust maintains its static royalty structure without expansion or operational changes.