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Royalty Trust
A royalty trust is a type of corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal ..., mostly in the United States or Canada, usually involved in oil and gas A fossil fuel is a hydrocarbon-containing material formed underground from the remains of dead plants and animals that humans extract and combustion, burn to release energy for use. The main fossil fuels are coal, petroleum and natural gas, w ... production or mining Mining is the extraction of valuable mineral In geology and mineralogy, a mineral or mineral species is, broadly speaking, a solid chemical compound with a fairly well-defined chemical composition and a specific crystal structure that occu .... However, unlike most corporations, its profits are not taxed at the corporate level provided a certa ...
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Penn West Exploration
Obsidian Energy Ltd. (previously known as Penn West Exploration Ltd., Penn West Petroleum and Penn West Energy Trust) is a mid-sized Canadian crude oil, oil and natural gas production company based in Calgary, Alberta. For a while it was one of the S&P/TSX 60, the sixty largest companies on the Toronto Stock Exchange. From 2005–2011 it was a Canadian royalty trust (CanRoy, CANROY), and reached a peak market capitalization in January 2008 of approximately US $9.5 billion. In the 2012 Forbes Global 2000, Penn West Petrpoleum, Obsidian Energy's predecessor, was ranked as the 1086th largest public company in the world. The company experienced operational and financial difficulties when crude oil prices fell significantly in 2014. As a result, the company underwent a significant restructuring with the majority of the assets sold over the next two years to reduce debt. Obsidian's oil and gas fields are located in Alberta, along the Western Canadian Sedimentary Basin, a region which i ...
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Corporation
A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and recognized as such in Corporate law, law for certain purposes. Early incorporated entities were established by charter (i.e. by an ''ad hoc'' act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through List of company registers, registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: by whether they can issue share capital, stock, or by whether they are formed to make a profit (accounting), profit. Depending on the number of owners, a corporation can be classified as ''aggregate'' (the subject of this article) or ''corporation sole, sole'' (a legal e ...
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Mesabi Trust
The Mesabi Iron Range is a mining district in northeastern Minnesota following an elongate trend containing large deposits of iron ore. It is the largest of four major iron ranges in the region collectively known as the Iron Range of Minnesota. First described in 1866, it is the chief iron ore mining district in the United States. The district is located largely in Itasca County, Minnesota, Itasca and St. Louis County, Minnesota, Saint Louis counties. It has been extensively worked since 1892, and has seen a transition from high-grade direct shipping ores through gravity concentrates to the current industry exclusively producing iron ore (taconite) pellets. Production has been dominantly controlled by vertically integrated steelmakers since 1901, and therefore is dictated largely by US ironmaking capacity and demand. Name The Mesabi Range was known to the local Ojibwe as ''Misaabe-wajiw'' ("Giant mountain"). Throughout the Mesabi Range, "Mesaba" and "Missabe" spelling variation ...
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Marine Petroleum Trust
Marine is an adjective meaning of or pertaining to the sea or ocean. Marine or marines may refer to: Ocean * Maritime (other) * Marine art * Marine biology * Marine debris * Marine habitats * Marine life * Marine pollution Military * Marines, a naval-based infantry force ** United States Marine Corps ** Royal Marines of the UK ** Spanish Marine Infantry ** Fusiliers marins (France) ** Indonesian Marine Corps ** Republic of China Marine Corps ** Republic of Korea Marine Corps ** Royal Thai Marine Corps *"Marine" also means "navy" in several languages: ** Austro-Hungarian Navy () ** Belgian Navy (, , ) ** Royal Canadian Navy () *** Provincial Marine (1796–1910), a predecessor to the Royal Canadian Navy ** Navy of the Democratic Republic of the Congo () ** Royal Danish Navy () ** Finnish Navy (, ) ** French Navy () ** Gabonese Navy () ** German Navy () ** Royal Moroccan Navy () ** Royal Netherlands Navy () ** Swedish Navy () Places * Marines, Val-d'Oise, France * Mari ...
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Hugoton Royalty Trust
Hugoton is a city in and the county seat of Stevens County, Kansas, Stevens County, Kansas, United States. As of the 2020 United States census, 2020 census, the population of the city was 3,747. History Settlers from McPherson, Kansas established a settlement in what was then west-central Seward County, Kansas in 1885. They originally named this settlement Hugo in honor of French people, French writer Victor Hugo, but then changed its name to Hugoton to distinguish it from Hugo, Colorado. Hugoton's first church, Hugoton United Methodist, was also the first in Stevens County and was founded in 1886; it is still active as of 2019''.'' The first post office in Hugoton was established in April 1886. In 1886, the Kansas Legislature reestablished the surrounding area as Stevens County, and John Martin (Governor of Kansas), Gov. John Martin designated Hugoton as the interim county seat. This set off a violent county seat war with nearby Woodsdale, Kansas, Woodsdale. Hugoton became th ...
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Enerplus Resources Fund
Enerplus Corporation is one of Canada’s largest independent oil and gas producers. The company holds oil and natural gas property interest in the United States and in western Canada, in the provinces of Alberta, British Columbia and Saskatchewan. The company is based out of Calgary, Alberta and trades on both the Toronto Stock Exchange and the New York Stock Exchange. It was Canada's first income trust. History Enerplus was established in 1986 by Marcel Tremblay, a pension fund manager and John Brussa, a lawyer. It was originally called Enerplus Resources Fund, and it was Canada's first income trust. Its original purpose was to provide income from mature, aging oil and gas assets to retail investors, taking advantage of the tax advantages of the income trust structure. It started trading on the Toronto Stock Exchange in 1986 with a $10 million IPO. In 1996, Mark Resources renamed itself Enermark, became an income trust, and joined the Enerplus group of companies. This w ...
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Daylight Resources Trust Ltd
Daylight is the combination of all direct and indirect sunlight during the daytime. This includes direct sunlight, diffuse sky radiation, and (often) both of these reflected by Earth and terrestrial objects, like landforms and buildings. Sunlight scattering, scattered or reflected by astronomical objects is generally not considered daylight. Thus, daylight excludes moonlight, despite it being reflected indirect sunlight. Definition Daylight is present at a particular location, to some degree, whenever the Sun is above the local horizon. (This is true for slightly more than 50% of the Earth at any given time. For an explanation of why it is not exactly half, see Day#Introduction, here). However, the outdoor illuminance can vary from 120,000 lux for direct sunlight at noon, which may cause eye pain, to less than 5 lux for thick storm clouds with the Sun at the horizon (even <1 lux for the most extreme case), which may make shadows from distant street lights visible. It may be dar ...
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Cross Timbers Royalty Trust
A cross is a geometrical figure consisting of two intersecting lines or bars, usually perpendicular to each other. The lines usually run vertically and horizontally. A cross of oblique lines, in the shape of the Latin letter X, is also termed a saltire in heraldic terminology. The cross in its various shapes and forms was a symbol of various beliefs. In pre-Christian times it was a pagan religious symbol throughout Europe and western Asia. In ancient times, the effigy of a man hanging on a cross was set up in the fields to protect the crops. The cross was even considered a male symbol of the phallic Tree of Life; thus it often appeared in conjunction with the female-genital circle or oval, to signify the sacred marriage, as in Egyptian amulet Nefer with male cross and female orb, considered as an amulet of blessedness, a charm of sexual harmony. Name The word '':wikt:cross, cross'' is recorded in 11th-century Old English as ''cros'', exclusively for the instrument of Crucifi ...
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Canadian Oil Sands Trust
Canadian Oil Sands Limited was a Canadian company that generates income from its oil sands investment in the Syncrude Joint Venture. Syncrude operated an oil sands facility and produced crude oil through the mining of oil sands from ore deposits in the Athabasca Tar Sands, Athabasca region of northern Alberta, Canada. In 2016, Suncor Energy purchased all of the shares of Canadian Oil Sands Limited. History In 1978, Syncrude produced its first barrel of oil. PanCanadian Petroleum (later Encana, now Ovintiv) formed Canadian Oil Sands Trust in 1995 with a 10% interest in Syncrude. The following year, Gulf Canada formed Athabasca Oil Sands Trust with an 11.74% interest in Syncrude. Canadian Oil Sands Trust and Athabasca Oil Sands Trust merged in 2001, continuing as Canadian Oil Sands Trust. Canadian Oil Sands Trust increased its interest in Syncrude to 35.5% in 2003. A further purchase of a 1.25% incremental interest brought the trust's interest in Syncrude to its current level o ...
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BP Prudhoe Bay Royalty Trust
The BP Prudhoe Bay Royalty Trust is a United States crude oil, oil and natural gas royalty trust based in New York, New York. With a market capitalization of US$155 million in early 2020, and an average trading volume of 322,000 shares, BP Prudhoe Bay Royalty Trust is the largest conventional oil and gas trust in the United States. Its assets are in the huge Prudhoe Bay Oil Field, the largest oil field in North America, and at the end of 2006 the Trust claimed to have proved reserves of 85.1 million barrels of crude oil. As of the end of 2018 the Trust claimed to have proved reserves of 15.77 million barrels of crude oil. Standard Oil Company and BP Exploration, both now branches of BP, British Petroleum, set up the trust on February 28, 1989. They distribute royalties on a portion of the oil produced from the Prudhoe Bay Oil Field, typically 16.4246% of the first 90,000 barrels of net daily production. In their 2018 Annual Report, the Trust estimated it would continue to make r ...
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Baytex Energy Trust
Baytex Energy Corp. is an oil and gas corporation based in Calgary, Alberta. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Approximately 83% of Baytex's production is weighted toward crude oil and natural gas liquids. Baytex's common shares trade on the Toronto Stock Exchange and formerly on the New York Stock Exchange under the symbol BTE. History Early on (1993–2000) the company was more focused on developing light oil and natural gas containing properties in North and SE Alberta. In Jan 19, 2006, Baytex Energy Trust announced that the New York Stock Exchange had cleared Baytex to file an Original Listing Application to list its trust units on the NYSE. The company began trading on the NYSE on March 27. In April 2008 it completed a $181 million takeover of Burmis Energy Inc, a Calgary-based oil and natural gas producer (72% of produc ...
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