Dominion Resources Black Warrior Trust
Announces 1st Quarter Cash Distribution
DALLAS, TEXAS, February 17, 2012-- Dominion Resources Black Warrior Trust (NYSE: DOM) today announced a quarterly cash distribution to the holders of its units of beneficial interest of $0.177106 per unit. The distribution will be payable March 9, 2012 to unitholders of record on February 29, 2012. Dominion's cash distribution history, current and prior year financial reports, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http://www.dom-dominionblackwarriortrust.com.
This distribution represents the quarterly royalty payment from Walter Black Warrior Basin LLC ("WBWB") reflecting production from October 1, 2011 to December 31, 2011. WBWB reported that production attributable to the Trust's overriding royalty interests was approximately 526 million cubic feet ("MMcf") during this period compared to 528 MMcf in the previous quarter. Prices for this quarter to the trust averaged $3.50 per Mcf compared to $4.18 per Mcf for the previous quarter. Although production was relatively flat, prices for natural gas declined.
The Trust is designed to provide unitholders with quarterly cash distributions from its royalty interests in certain coal seam gas properties. The units are listed on The New York Stock Exchange under the symbol "DOM".
The Trust owns overriding royalty interests burdening certain proved developed coal seam gas properties owned by WBWB and located in the Black Warrior Basin of Alabama. The Trust is a grantor trust originally formed by Dominion Resources, Inc.
The 2011 tax information packets are expected to begin mailing directly to unitholders in early March 2012. A copy of Dominion's 2011 tax information booklet will be posted on Dominion's website by March 1, 2012. In addition to the tax booklet the Dominion website will also offer two simple calculators for computing the income and expense amounts and the cost depletion. The calculators are currently expected to be updated with the 2011 tax information by the week ending February 24th.