# EDGAR Filing Document

**Accession Number:** 0001565146
**File Stem:** 0001565146-23-000007
**Filing Date:** 2023-1
**Character Count:** 11305
**Document Hash:** 363cd7b24d188df3f68fb5aa8ac5c21c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001565146-23-000007.hdr.sgml**: 20230113

**ACCESSION NUMBER**: 0001565146-23-000007

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230113

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230113

**DATE AS OF CHANGE**: 20230113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gulf Coast Ultra Deep Royalty Trust
- **CENTRAL INDEX KEY:** 0001565146
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36386
- **FILM NUMBER:** 23528789

**BUSINESS ADDRESS:**
- **STREET 1:** 601 TRAVIS STREET
- **STREET 2:** 16TH FLOOR
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77002
- **BUSINESS PHONE:** 512-236-6599

**MAIL ADDRESS:**
- **STREET 1:** 601 TRAVIS STREET
- **STREET 2:** 16TH FLOOR
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77002

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| |
|:---|
| **UNITED STATES** |
| **SECURITIES AND EXCHANGE COMMISSION** |
| **Washington, D.C. 20549** |
| **FORM 8-K** |
| **CURRENT REPORT** |
| **PURSUANT TO SECTION 13 OR 15(d)** |
| **OF THE SECURITIES EXCHANGE ACT OF 1934** |
| **Date of Report (Date of earliest event reported): January 13, 2023** |
| **Gulf Coast Ultra Deep Royalty Trust** |
| (Exact name of registrant as specified in its charter) |

---

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| | | |
|:---|:---|:---|
| **Delaware** | **001-36386** | **46-6448579** |
| (State or other jurisdiction of<br>incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

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| | |
|:---|:---|
| **The Bank of New York Mellon Trust Company, N.A., as trustee** | **The Bank of New York Mellon Trust Company, N.A., as trustee** |
| **601 Travis Street, 16th Floor** | **601 Travis Street, 16th Floor** |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Houston, Texas** | **77002** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Address of principal executive offices) | (Zip code) |

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Registrant's telephone number, including area code: **(512) 236-6555**<br>

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

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| |
|:---|
| □ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| □ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| □ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| □ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

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Securities registered pursuant to section 12(b) of the Act: None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR § 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

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Item 2.02. <u>Results of Operations and Financial Condition</u>.

&nbsp;&nbsp;&nbsp;&nbsp;On January 13, 2023, Gulf Coast Ultra Deep Royalty Trust issued a press release titled "Gulf Coast Ultra Deep Royalty Trust Announces Quarterly Cash Distribution." A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

&nbsp;&nbsp;&nbsp;&nbsp;The information furnished in this Item 2.02 and in Exhibit 99.1 is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 9.01. <u>Financial Statements and Exhibits</u>.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

<u>[99.1](exhibit99101132023.htm)</u> Press release dated January 13, 2023, titled "Gulf Coast Ultra Deep Royalty Trust Announces Quarterly Cash Distribution."

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| | Gulf Coast Ultra Deep Royalty Trust | Gulf Coast Ultra Deep Royalty Trust | Gulf Coast Ultra Deep Royalty Trust |
| | By: | The Bank of New York Mellon | The Bank of New York Mellon |
| | | Trust Company, N.A., as Trustee | Trust Company, N.A., as Trustee |
| | | By: | /s/ Sarah Newell |
| | | | Sarah Newell |
| | | | Vice President |
| Date: January 13, 2023 |  |  |  |

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## Exhibit 99.1

**Exhibit 99.1**

**Gulf Coast Ultra Deep Royalty Trust**

**The Bank of New York Mellon Trust Company, N.A., Trustee *News Release***

**Gulf Coast Ultra Deep Royalty Trust Announces Quarterly Cash Distribution** 

HOUSTON, Texas - January 13, 2023 - Gulf Coast Ultra Deep Royalty Trust (OTC Pink: GULTU) (the Trust) announced today that it will distribute to unitholders a cash distribution totaling $621,894 for the quarter ended December 31, 2022.

Unitholders of record on January 31, 2023 will receive a cash distribution of $0.002702 per unit payable on February 10, 2023.

Natural gas (Mcf) sales volumes, average sales price and net cash proceeds available for distribution for the quarter ended December 31, 2022 are set forth in the table below:

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| | |
|:---|:---|
| Natural gas (Mcf) sales volumes <sup>(a)</sup> | 101420 |
| Natural gas (per Mcf) average sales price | $7.45 |
| Gross proceeds | $755206 |
| Post-production costs and specified taxes | (50081) |
| Royalty income | 705125 |
| Interest and dividend income | 6589 |
| Administrative expenses | (81070) |
| Income in excess of administrative expenses | 630644 |
| Increase to minimum cash reserve <sup>(b)</sup> | (8750) |
| Cash proceeds available for distribution | $621894 |

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(a) &nbsp;&nbsp;&nbsp;&nbsp;Attributable to the onshore Highlander subject interest which is the only subject interest with commercial production.

(b)&nbsp;&nbsp;&nbsp;&nbsp;The Trust is withholding, and in the future intends to withhold, $8,750 from the funds otherwise available for distribution each quarter to gradually build a cash reserve of approximately $350,000. This cash is reserved for the payment of future known, anticipated or contingent expenses or liabilities of the Trust. The Trustee may increase or decrease the targeted cash reserve 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 royalty 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.

\# \# \#

**About Gulf Coast Ultra Deep Royalty Trust.** The Trust is a Delaware statutory trust created to hold a 5% gross overriding royalty interest in future production from specified Inboard Lower Tertiary/Cretaceous exploration prospects located in the shallow waters of the Gulf of Mexico and onshore in South Louisiana that existed as of December 5, 2012, which are collectively referred to as subject interests. The subject interests and the Trust's overriding royalty interests are described in the Trust's filings with the Securities and Exchange Commission (SEC). As described in the Trust's SEC filings, future distributions are not guaranteed and will depend on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, post-production costs and specified taxes, and the amount and timing of the Trust's administrative expenses, among other factors. For additional information on the Trust, please visit http://gultu.q4web.com/home/default.aspx.

**Cautionary Statement Regarding Forward-Looking Information.** This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are all statements other than statements of historical facts, such as any statements regarding the build-up of the Trust's cash reserves and any statements regarding the amount and date of quarterly distributions to unitholders. Forward-looking statements are not guarantees or assurances of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that may cause actual results to differ

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materially from those anticipated by the forward-looking statements include, but are not limited to, the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to a record date for a quarterly cash distribution. Any differences in actual cash receipts by the Trust could affect the amount of quarterly cash distributions. Other important factors that may cause actual results to differ materially include risks inherent in production of oil and gas properties, the ability of commodity purchasers to make payment, the economic effects of the COVID-19 pandemic and federal, state and local governmental actions in response to the pandemic, and other risk factors described in the Trust's Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC. The Trust's annual, quarterly and other filed reports are or will be available over the Internet at the SEC's website at http://www.sec.gov. Statements made in this press release are qualified by the cautionary statements made in this press release. The Trust cautions investors that it does not intend, and assumes no obligation, to update any of the statements included in this press release.

The Bank of New York Mellon Trust Company, N.A. serves as trustee of the Trust. If you have any questions related to the Trust, please see below for contact information:

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| | |
|:---|:---|
| **Contact:** | **Gulf Coast Ultra Deep Royalty Trust** |
|  | **The Bank of New York Mellon Trust Company, N.A., as Trustee** |
|  | **Sarah Newell** |
|  | **(512) 236-6555** |
|  | **601 Travis Street, 16th Floor** |
|  | **Houston, TX 77002** |

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