| Business Summary | | LL&E
Royalty
Trust
was
created
pursuant
to
a
Trust
Agreement
between
The
Louisiana
Land
and
Exploration
Company
and
First
City
National
Bank
of
Houston.
Upon
creation
of
the
Company,
TLLEC
conveyed
to
the
Company
net
overriding
royalty
interests
in
certain
productive
oil
and
gas
properties
located
in
Alabama,
Florida
and
Texas
and
in
federal
waters
offshore
Louisiana,
and
3%
royalty
interests
in
certain
of
the
TLLEC's
then
unleased,
undeveloped
south
Louisiana
fee
lands.
Title
to
the
Overriding
Royalties
and
the
Fee
Lands
Royalties
is
held
by
a
Partnership
of
which
the
Company
and
TLLEC
are
the
only
partners.
The
Partnership
was
formed
for
the
purpose
of
owning
the
Royalties,
and
its
only
functions
are
the
ownership
of
such
interests
and
the
related
receipt
of
funds,
payment
of
expenses,
disbursement
of
revenues
from
the
Royalties
and
preparation
of
certain
reports
to
the
Company.
The
Chase
Manhattan
Bank
serves
as
Trustee
of
the
Trust. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | LL&E
Royalty
Trust
has
royalty
interests
in
certain
productive
oil
and
gas
properties
located
in
Alabama,
Florida,
Texas,
in
federal
waters
offshore
Louisiana
and
south
Louisiana
fee
lands.
For
the
three
months
ended
3/31/01,
royalty
revenues
totaled
$4.2
million,
up
from
$1.8
million.
Net
income
totaled
$4
million,
up
from
$1.7
million.
Revenues
benefitted
from
increased
commodity
prices.
Net
income
also
reflects
an
increase
in
undistributed
cash. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Peter Foster | Sr.
VP, Corp. Trust Officer |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|