Company: MTR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001104659-25-078590
Chunk: 1

Company: MESA ROYALTY TRUST/TX
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 reports filed with the SEC are accessible through the Trust’s website as soon as reasonably practicable after the Trustee electronically files such material with, or furnishes it to, the SEC. The Trust’s website is http://mtr. q4web. com/home/default. aspx.

Trust Corpus Description. The Trust was created on November 1, 1979 and is now governed by the Mesa Royalty Trust Indenture (as amended, the “ Trust Indenture”). Through a series of conveyances, assignments, and acquisitions, the Trust currently owns an overriding royalty interest (the “ Royalties”) equal to 11.44% of 90% of the Net Proceeds (as defined in the Conveyance and described below) attributable to the specified interest in certain producing oil and gas properties located in the:

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Hugoton field of Kansas (the “ Hugoton Royalty Properties”);

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San Juan Basin field of New Mexico (the “ San Juan Basin  -   New Mexico Properties”); and

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San Juan Basin field of Colorado (the “ San Juan Basin  -   Colorado Properties”, and together with the San Juan Basin  -   New Mexico Properties, the “ San Juan Basin Royalty Properties”, and together with the Hugoton Royalty Properties, the “ Royalty Properties”).

Trust Corpus Conveyance History. On November 1, 1979, Mesa Petroleum Co., predecessor to Mesa Limited Partnership (“ MLP”), which was the predecessor to MESA Inc., conveyed to the Trust the Royalties equal to 90% of the Net Proceeds (as defined in the Conveyance and described below) attributable to the specified interests in properties conveyed by the assignor on that date (the “ Subject Interests”). The Subject Interests consisted of interests in the Royalty Properties described above. The Royalties are evidenced by counterparts of an Overriding Royalty Conveyance, dated November 1, 1979 (the “ Conveyance”). In 1985, the Trust Indenture was amended, and the Trust conveyed to an affiliate of Mesa Petroleum Co. 88.5571% of the original Royalties (such transfer, the “1985 Assignment”). The effect of the 1985 Assignment was an overall reduction of approximately 88.56% in the size of the Trust. As a result, the Trust is now entitled to receive 11.44% of 90% of the Net Proceeds attributable to the Roy