| Business Summary | | Tel
Offshore
Trust
owns
a
99.99%
interest
in
the
TEL
Offshore
Trust
Partnership
(Partnership).
Chevron
U.S.A.
Inc.
owns
the
remaining
.01%
interest
in
the
Partnership.
The
Partnership
owns
an
overriding
royalty
interest,
equivalent
to
a
25%
net
profits
interest,
in
certain
oil
and
gas
properties
(Royalty
Properties)
located
offshore
Louisiana.
The
Royalty
Properties
include
East
Cameron
354,
West
Cameron
643,
Eugene
Island
339,
Eugene
Island
342,
Eugene
Island
343,
Eugene
Island
348,
West
Cameron
642,
East
Cameron
370(4),
East
Cameron
371,
Vermilion
246,
West
Cameron
41
E/2(5),
Ship
Shoal
183
N/2,
Ship
Shoal
183
NW/4
of
S/2,
Ship
Shoal
183
NE/4
of
SW/4
of
S/2,
SE/4,
Eugene
Island
208,
Eugene
Island
367,
South
Marsh
Island
252,
South
Timbalier
36
and
South
Timbalier
37. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | TELOZ
consists
of
interests
in
the
Tel
Offshore
Trust
Partnership,
which
owns
an
overriding
royalty
interest
in
certain
oil
and
gas
properties
located
in
offshore
LA.
For
the
six
months
ended
6/30/01,
royalty
income
increased
15%
to
$3
million.
Distributable
income
increased
7%
to
$2.9
million.
Revenues
reflect
higher
gas
prices
and
higher
natural
gas
volumes
sold.
Earnings
were
partially
offset
by
a
deposit
of
$910
thousand
to
the
Trust's
Special
Cost
Escrow
Acct. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | George Allman, Jr. | Trustee | Gary Evans | Trustee | Jeffrey Swanson | Trustee |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|