Profile: North European Oil Royalty Trust (NRT.N)
17 Feb 2017
North European Oil Royalty Trust, incorporated on May 6, 1957, is a grantor trust. The Trust, on behalf of the owners, holds overriding royalty rights covering gas and oil production in certain concessions or leases in the Federal Republic of Germany. The rights are held under contracts with local German exploration and development subsidiaries of ExxonMobil Corp. (ExxonMobil) and the Royal Dutch/Shell Group of Companies (Royal Dutch/Shell Group). Under these contracts, the Trust receives various percentage royalties on the proceeds of the sales of certain products from the areas involved. As of October 31, 2016, royalties were received for sales of gas well gas, oil well gas, crude oil, condensate and sulfur.
The Trust's primary royalty rights are based on government granted concessions and remain in effect as long as there are continued production activities and/or exploration efforts by the operating companies. In addition, the Trust holds other royalty rights, which are based on leases that have passed their original expiration dates. These leases remain in effect as long as there is continued production or the lessor does not cancel the lease. The Trust holds royalty rights in various areas, such as Western Oldenburg and Eastern Oldenburg. As of October 31, 2016, the Oldenburg concession, located in the German federal state of Lower Saxony, covered 1,386,000 acres. The Trust receives royalties for products, such as gas, sulfur and oil. The Trust does not engage in any operating or active business.
North European Oil Royalty Trust
43 W Front St Ste 19-A,
PO Box 456
RED BANK NJ 07701-1600