- SandRidge Mississippian Trust II announced a quarterly distribution on July 31st of $0.486 for common unit holders.
- Distributable income for the quarter was $18.1M, which on a fully diluted per unit basis was below threshold, so subordinated units received $0.00 per unit.
- Production for the quarter continued to decrease sharply at 392 MBOE, far below the year earlier level of 651 MBOE.
- Risk remains high that proven reserves currently reported by the Trust are lower than presently represented in public financial documents.
- Based on the considered riskiness of current estimates of proven reserves and expected future oil and gas price levels, the current Trust market price level is considered overvalued.