CALGARY, Alberta, December 20, 2017 – Mr. Rick (Buck) Braund, Chairman and CEO, and Mr. Randy Best, President & COO, on behalf of the Board of Directors of The Trust, are pleased to announce the acquisition of a 2.5% Gross Overriding Royalty on long life, low decline, medium gravity oil production in the Wainwright area of Alberta for total cash consideration of $14.5 Million. Read the full release here.
CALGARY, Alberta, May 8, 2017 – Mr. Rick (Buck) Braund, Chairman and CEO, and Mr. Randy Best, President & COO, on behalf of the Board of Directors of the Trust, are pleased to announce the appointment of Mr. Michael Culbert to its Board of Directors effective May 1, 2017. Read the full release here.
Reserve Royalty Income Trust announces its 2017 guidance and a distribution increase
CALGARY, Alberta, February 8, 2017 – Reserve Royalty Income Trust (“The Trust”) finished 2016 by delivering a strong fourth quarter of financial and production results. The following is a forecast of 2016 results and 2017 base guidance.
Read the full release here.
Reserve Royalty Income Trust (‘RRIT’ or the Trust) is pleased to announce the appointment of Mr. Robert Puchniak to the Board of Directors of the Trust
RRIT is pleased to announce the appointment of Mr. Robert Puchniak to The Board of Directors of the Trust. Mr. Puchniak retired on April 30, 2015 as Executive Vice-President of James Richardson & Sons Limited. From March 2001 to March 2014 he was also Chief Financial Officer of James Richardson & Sons Limited. Prior thereto, Mr. Puchniak was President of Tundra Oil & Gas Limited for twenty-three years.
Reserve Royalty Income Trust (‘RRIT’ or the Trust) is pleased to announce the formation of the Trust and acquisitions in excess of $100 million
From inception in 2013 through to mid year 2014, RRIT acquired various producing royalty interests in the Deep Basin and Peace River Arch of Alberta. During the third quarter of 2014, RRIT acquired royalty and non-operated working interest production, including associated production facilities and undeveloped land, in the Deep Basin and Brazeau areas of Alberta through three transactions totaling approximately $105MM. Following these acquisitions, RRIT currently produces in excess of 2,300 BOE/D comprised of liquids-rich natural gas and oil. The acquisitions were funded by private equity investors, institutions and the Trust’s credit facility. RRIT welcomes communication from entities or private interests who may wish to divest and monetize producing royalty assets, undercapitalized oil and gas opportunities or non-operated working interests.