Company: GULTU
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023391
Chunk: 10

Company: Gulf Coast Ultra Deep Royalty Trust
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 4
Chunk 10
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Item
4.Controls and Procedures.

(a) Evaluation of disclosure controls and procedures

Due
to the nature of the Royalty Trust as a passive entity and in light of the contractual arrangements pursuant to which the Royalty Trust
was created, including the provisions of (i) the Royalty Trust Agreement and (ii) the master conveyance, the Royalty Trust’s disclosure
controls and procedures necessarily rely on (A) information provided by FCX or HOGA, including information relating to results of operations,
the costs and revenues attributable to the subject interests and other operating and historical data, plans for future operating and
capital expenditures, reserve information, information relating to projected production, and other information relating to the status
and results of operations of the subject interests and the overriding royalty interests, and (B) conclusions and reports regarding reserves
by the Royalty Trust’s independent reserve engineers.

(b) Changes in internal control over financial reporting

  16  

PART
II. OTHER INFORMATION

Item
1. Legal Proceedings.