12 unchanged sentences
advise the Trustee in its review and compilation of this information for inclusion in this Quarterly Report on Form 10-Q and the other periodic reports provided by the Trust to the SEC.
−Removed: Despite the Trusts internal controls and procedures ensuring the accuracy of the Trusts reporting based upon the financial
−Removed: information received from Hilcorp, Hilcorps process of reconciling actual revenue and severance taxes to previously reported estimates are still occurring and being reported in 2021.
−Removed: Thus, distributions to the Trust from Hilcorp in any given
−Removed: month may be subject to adjustment based upon prior months true-ups and rebooking, plus interest.
−Removed: Hilcorp notified the Trust that as of the date of this Quarterly Report, it will still need to adjust the
−Removed: previously reported production and financial information for the production months of January 2021 for operated wells and November 2020, December 2020, and January 2021 for non-operated wells and, therefore,
−Removed: possibly adjust future distributions of net proceeds to reflect such rebooking and true-ups plus interest on such amounts (as required by the Conveyance) to the extent an under- or over-payment has occurred.
−Removed: The Trustee has evaluated the Trusts internal disclosure controls and procedures as of March 31, 2021, and has concluded that
−Removed: such disclosure controls and procedures are effective, at the reasonable assurance level (as such term is used in Rule 13a-15(f) of the Exchange Act), to ensure that material information received
−Removed: from Hilcorp is gathered on a timely basis to be included in the Trusts periodic reports and recorded, processed, summarized and reported within the time periods specified in the SECs rules and forms.
−Removed: Additionally, during the three months ended March 31, 2021, there were no changes in the Trusts internal control over financial
−Removed: reporting (as such term is used in Rule 13a-15(f) of the Exchange Act) that materially affected, or are reasonably likely to materially affect, the Trusts internal control over financial reporting.
−Removed: Because the Trust does not have, nor does the Indenture provide for, officers, a board of directors or an independent audit committee, the Trustee has reviewed neither the Trusts disclosure controls and procedures nor the Trusts internal
−Removed: control over financial reporting in concert with management, a board of directors or an independent audit committee.
+Added: Despite the Trusts internal controls and procedures ensuring the accuracy of the
+Added: Trusts reporting based upon the financial information received from Hilcorp, Hilcorps process of reconciling actual revenue and severance taxes to previously reported estimates are still occurring and being reported in 2021.
+Added: Hilcorp informed the Trust that due to Hilcorps transition to a new accounting system, the February, March and April 2021 production months were based on estimated production, estimated prices and estimated costs utilizing historical trends.
+Added: Thus, distributions to the Trust from Hilcorp in any given month may be subject to adjustment based upon prior months true-ups and rebooking, plus interest.
+Added: Hilcorp notified the Trust that as of the date
+Added: of this Quarterly Report, Hilcorp anticipates that it will adjust the previously reported production and financial information for the production months of January 2021 through April 2021 for operated wells and November 2020 through April 2021 for non-operated wells and, therefore, possibly adjust future distributions of net proceeds to reflect such rebooking and true-ups plus interest on such amounts (as required by
+Added: the Conveyance) to the extent an under- or over-payment has occurred.
+Added: The Trustee has evaluated the Trusts internal disclosure
+Added: controls and procedures as of June 30, 2021, and has concluded that such disclosure controls and procedures are effective, at the reasonable assurance level (as such term is used in Rule
+Added: 13a-15(f) of the Exchange Act), to ensure that material information received from Hilcorp is gathered on a timely basis to be included in the Trusts periodic reports and recorded, processed, summarized
+Added: and reported within the time periods specified in the SECs rules and forms.
+Added: Additionally, during the three months ended
+Added: June 30, 2021, there were no changes in the Trusts internal control over financial reporting (as such term is used in Rule 13a-15(f) of the Exchange Act) that materially affected, or are reasonably
+Added: likely to materially affect, the Trusts internal control over financial reporting.
+Added: Because the Trust does not have, nor does the Indenture provide for, officers, a board of directors or an independent audit committee, the Trustee has reviewed
+Added: neither the Trusts disclosure controls and procedures nor the Trusts internal control over financial reporting in concert with management, a board of directors or an independent audit committee.
OTHER INFORMATION
7 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.