9 unchanged sentences
Some impacts of the global COVID-19 pandemic that could have an adverse effect on the Royalty Trust's business, financial condition, liquidity and results of operations, include, but are not limited to:
−Removed: • significantly reduced prices for gas production, resulting from a world-wide decrease in demand for hydrocarbons and a resulting oversupply of existing production;
+Added: • significantly reduced prices for gas production, resulting from a world-wide decrease in demand for hydrocarbons;
• further decreases in the demand for gas production, resulting from significantly decreased levels of global, regional and local travel as a result of federal, state and local government-imposed quarantines, including shelter-in-place mandates, enacted to slow the spread of the virus;
−Removed: • increased costs associated with, or actual unavailability of, facilities for the storage of gas production;
• increased operational difficulties associated with, or an inability to, deliver gas to end-markets, resulting from pipeline and storage constraints;
8 unchanged sentences
The volatility of energy prices reduces the accuracy of estimates of future cash distributions to the Royalty Trust unitholders and could affect the value of the royalty trust units.
−Removed: During the six months ended June 30, 2020, benchmark prices for oil and natural gas were significantly depressed which resulted in a decrease in royalties received by the Royalty Trust and corresponding distributions to
−Removed: the Royalty Trust unitholders in the second quarter of 2020.
−Removed: To the extent the global COVID-19 pandemic continues to adversely affect the global economy, and/or adversely affects the Royalty Trust's business, financial condition, liquidity, or results of operations, it may also have the effect of increasing the likelihood and/or magnitude of other risks described in Risk Factors in Part I, Item 1A of the Royalty Trust's 2019 Form 10-K and in this Form 10-Q, including those risks related to market, credit, geopolitical and business operations, or risks described in the Royalty Trust's other filings with the SEC.
+Added: During the nine months ended September 30, 2020, benchmark prices for oil and natural gas were significantly depressed, which resulted in a decrease in royalties received by the Royalty Trust and corresponding distributions to the Royalty Trust unitholders in the second and third quarters of 2020.
+Added: To the extent the global COVID-19 pandemic continues to adversely affect the global economy, and/or adversely affects the Royalty Trust's
+Added: business, financial condition, liquidity, or results of operations, it may also have the effect of increasing the likelihood and/or magnitude of other risks described in Risk Factors in Part I, Item 1A of the Royalty Trust's 2019 Form 10-K and in this Form 10-Q, including those risks related to market, credit, geopolitical and business operations, or risks described in the Royalty Trust's other filings with the SEC.
In addition, the global COVID-19 pandemic, or any recurrence of the outbreak of COVID-19, may also affect proceeds to the Royalty Trust or distributions to Royalty Trust untiholders in a manner that is not presently known to the Royalty Trust or that the Royalty Trust currently does not expect to present a significant risk to proceeds to the Royalty Trust or distributions to Royalty Trust unitholders.
13 unchanged sentences
Vice President
−Removed: August 12, 2020
+Added: November 12, 2020
The Registrant, Gulf Coast Ultra Deep Royalty Trust, has no principal executive officer, principal financial officer, controller or chief accounting officer, board of directors or persons performing similar functions.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.