SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD
ENDED JUNE 30, 1995
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD
FROM ____________ TO ____________
COMMISSION FILE NUMBER 1-7884
MESA ROYALTY TRUST
(Exact Name of Registrant as Specified in Its Charter)
TEXAS 74-6284806
(State of Incorporation (I.R.S. Employer
or Organization) Identification No.)
TEXAS COMMERCE BANK
NATIONAL ASSOCIATION
CORPORATE TRUST DIVISION
712 MAIN STREET
HOUSTON, TEXAS 77002
(Address of Principal Executive Offices) (Zip Code)
(713) 216-5100
(Registrant's Telephone Number, Including Area Code)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports) and (2) has been subject to such
filing requirements for the past 90 days. Yes [X] No [ ]
Indicate the number of shares outstanding of each of the registrant's
classes of common stock, as of the latest practicable date.
As of August 10, 1995 -- 1,863,590 Units of Beneficial Interest in Mesa
Royalty Trust.
PART I -- FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
MESA ROYALTY TRUST
STATEMENTS OF DISTRIBUTABLE INCOME
(UNAUDITED)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
--------------------------- ---------------------------
1995 1994 1995 1994
----------- ----------- ----------- -----------
Royalty income .................. $ 1,442,140 $ 1,831,285 $ 3,545,054 $ 4,194,155
Interest income ................. 17,815 17,261 41,777 33,647
General and administrative
expenses ...................... (35,324) (9,143) (42,857) (15,317)
----------- ----------- ----------- -----------
Distributable income ........ $ 1,424,631 $ 1,839,403 $ 3,543,974 $ 4,212,485
=========== =========== =========== ===========
Distributable income per unit $ .7645 $ .9870 $ 1.9017 $ 2.2604
=========== =========== =========== ===========
STATEMENTS OF ASSETS, LIABILITIES AND TRUST CORPUS
JUNE 30, DECEMBER 31,
1995 1994
------------ ------------
(UNAUDITED)
ASSETS
Cash and short-term investments ............ $ 1,406,816 $ 1,244,208
Interest receivable ........................ 17,815 13,859
Net overriding royalty interest in
oil and gas properties ................... 42,498,034 42,498,034
Accumulated amortization ................... (21,715,129) (20,515,993)
------------ ------------
$ 22,207,536 $ 23,240,108
============ ============
LIABILITIES AND TRUST CORPUS
Distributions payable ...................... $ 1,424,631 $ 1,258,067
Trust corpus (1,863,590 units of
beneficial interest
authorized and outstanding) .............. 20,782,905 21,982,041
------------ ------------
$ 22,207,536 $ 23,240,108
============ ============
(The accompanying notes are an integral part of these financial statements.)
1
MESA ROYALTY TRUST
STATEMENTS OF CHANGES IN TRUST CORPUS
(UNAUDITED)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
----------------------------- -----------------------------
1995 1994 1995 1994
------------ ------------ ------------ ------------
Trust corpus, beginning of period $ 21,337,485 $ 23,423,980 $ 21,982,041 $ 24,250,937
Distributable income ......... 1,424,631 1,839,403 3,543,974 4,212,485
Distributions to unitholders . (1,424,631) (1,839,403) (3,543,974) (4,212,485)
Amortization of net overriding
royalty interest ........... (554,580) (727,528) (1,199,136) (1,554,485)
------------ ------------ ------------ ------------
Trust corpus, end of period ...... $ 20,782,905 $ 22,696,452 $ 20,782,905 $ 22,696,452
============ ============ ============ ============
(The accompanying notes are an integral part of these financial statements.)
2
MESA ROYALTY TRUST
NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)
NOTE 1 -- TRUST ORGANIZATION
The Mesa Royalty Trust (the "Trust") was created on November 1, 1979 when
Mesa Petroleum Co. conveyed to the Trust a 90% net profits overriding royalty
interest (the "Royalty") in certain producing oil and gas properties located
in the Hugoton field of Kansas, the San Juan Basin field of New Mexico and
Colorado and the Yellow Creek field of Wyoming (collectively, the "Royalty
Properties"). Mesa Petroleum Co. was the predecessor to Mesa Limited
Partnership ("MLP") which was the predecessor to MESA Inc. On April 30, 1991,
MLP sold its interests in the Royalty Properties located in the San Juan Basin
field to Conoco Inc. ("Conoco"), a wholly-owned subsidiary of E. I. duPont de
Nemours & Company. Conoco sold the portion of its interests in the San Juan
Basin Royalty Properties located in Colorado to MarkWest Energy Partners, Ltd.
(effective January 1, 1993) and Red Willow Production Company (effective April
1, 1992). MarkWest Energy Partners, Ltd. and Red Willow Production Company are
referred to collectively herein as "MarkWest". On October 26, 1994, MarkWest
Energy Partners, Ltd. sold substantially all of its interest in the Colorado
San Juan Basin Royalty Properties to Amoco Production Company ("Amoco"), a
subsidiary of Amoco Corp. The Hugoton Royalty Properties are operated by Mesa
Operating Co., a subsidiary of MESA Inc., and MESA Inc.'s interest in such
properties is owned by Hugoton Capital Limited Partnership, another MESA Inc.
subsidiary. The San Juan Basin Royalty Properties located in New Mexico are
operated by Conoco. The San Juan Basin Royalty Properties located in Colorado
were operated by MarkWest for periods prior to October 26, 1994 and by Amoco
for periods beginning on or after such date. As used in this report, the term
"Mesa" generally refers to the operator of the Hugoton Royalty Properties,
Conoco refers to the operator of the San Juan Basin Royalty Properties, other
than the portion of such properties located in Colorado, MarkWest refers to
the operator of the Colorado San Juan Basin Royalty Properties prior to
October 26, 1994 and Amoco refers to the operator of the Colorado San Juan
Basin Royalty Properties on or after October 26, 1994, unless otherwise
indicated. The terms "working interest owner" and "working interest owners"
generally refer to the operators of the Royalty Properties as described above,
unless the context in which such terms are used indicates otherwise.
NOTE 2 -- BASIS OF PRESENTATION
The accompanying unaudited financial information has been prepared by
Texas Commerce Bank National Association (the "Trustee") in accordance with
the instructions to Form 10-Q, and the Trustee believes such information
includes all the disclosures necessary to make the information presented not
misleading. The information furnished reflects all adjustments which are, in
the opinion of the Trustee, necessary for a fair presentation of the results
for the interim periods presented. The financial information should be read in
conjunction with the financial statements and notes thereto included in the
Trust's 1994 Annual Report on Form 10-K.
The Mesa Royalty Trust Indenture was amended in 1985, the effect of which
was an overall reduction of approximately 88.56% in the size of the Trust;
therefore, the Trust is now entitled each month to receive 90% of 11.44% of
the net proceeds for the preceding month. Generally, net proceeds means the
excess of the amounts received by the working interest owners from sales of
oil and gas from the Royalty Properties over operating and capital costs
incurred.
3
MESA ROYALTY TRUST
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
(UNAUDITED)
The financial statements of the Trust are prepared on the following basis:
(a) Royalty income recorded for a month is the amount computed and
paid by the working interest owners to the Trustee for such month rather
than either the value of a portion of the oil and gas produced by the
working interest owners for such month or the amount subsequently
determined to be the Trust's proportionate share of the net proceeds for
such month;
(b) Interest income, interest receivable, and distributions payable
to unitholders include interest to be earned from the balance sheet date
through the next distribution date;
(c) Trust administration expenses are recorded in the month they
accrue;
(d) Amortization of the net overriding royalty interests, which is
calculated on a unit-of-production basis, is charged directly to trust
corpus since such amount does not affect distributable income; and
(e) Distributions payable are determined on a monthly basis and are
payable to unitholders of record as of the last business day of each month
or such other day as the Trustee determines is required to comply with
legal or stock exchange requirements. However, cash distributions are made
quarterly in January, April, July and October, and include interest earned
from the monthly record dates to the date of distribution.
This basis for reporting royalty income is thought to be the most
meaningful because distributions to the unitholders for a month are based on
net cash receipts for such month. However, these statements differ from
financial statements prepared in accordance with generally accepted accounting
principles in several respects. Under such principles, royalty income for a
month would be based on net proceeds for such month without regard to when
calculated or received and interest income would include interest earned
during the period covered by the financial statements and would exclude
interest from the period end to the date of distribution.
4
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
SUMMARY OF ROYALTY INCOME AND AVERAGE PRICES
(UNAUDITED)
Royalty income is computed after deducting the Trust's proportionate share
of capital costs, operating costs and interest on any cost carryforward from
the Trust's proportionate share of "Gross Proceeds," as defined in the Royalty
conveyance. The following unaudited summary illustrates the net effect of the
components of the actual Royalty computation for the periods indicated.
THREE MONTHS ENDED JUNE 30,
-----------------------------------------------------------
1995 1994
---------------------------- ----------------------------
OIL, OIL,
CONDENSATE CONDENSATE
NATURAL AND NATURAL NATURAL AND NATURAL
GAS GAS LIQUIDS GAS GAS LIQUIDS
------------- ------------ ------------- ------------
The Trust's proportionate share of
Gross Proceeds(1).................. $ 1,567,546 $ 520,340 $ 2,176,407 $ 498,746
Less the Trust's proportionate share
of:
Capital costs recovered(2)....... (30,233) -- (72,217) --
Operating costs.................. (559,947) (46,876) (724,960) (39,205)
Interest on cost carryforward.... (8,690) -- (7,486) --
------------- ------------ ------------- ------------
Royalty income....................... $ 968,676 $ 473,464 $ 1,371,744 $ 459,541
============= ============ ============= ==========
Average sales price.................. $ 1.30 $ 10.46 $ 1.82 $ 9.93
============= ============ ============= ==========
(Mcf) (Bbls) (Mcf) (Bbls)
Net production volumes attributable
to the Royalty..................... 716,079 45,507 746,735 46,782
============= ============ ============= ==========
SIX MONTHS ENDED JUNE 30,
-----------------------------------------------------------
1995 1994
---------------------------- ----------------------------
OIL, OIL,
CONDENSATE CONDENSATE
NATURAL AND NATURAL NATURAL AND NATURAL
GAS GAS LIQUIDS GAS GAS LIQUIDS
------------- ------------ ------------- ------------
The Trust's proportionate share of
Gross Proceeds(1).................. $ 3,696,224 $ 1,268,466 $ 4,897,581 $ 993,038
Less the Trust's proportionate share
of:
Capital costs recovered(2)....... (59,190) -- (169,830) --
Operating costs.................. (1,250,513) (92,993) (1,435,062) (76,910)
Interest on cost carryforward.... (16,940) -- (14,662) --
------------- ------------ ------------- ------------
Royalty income....................... $ 2,369,581 $ 1,175,473 $ 3,278,027 $ 916,128
============= ============ ============= ==========
Average sales price.................. $ 1.45 $ 10.88 $ 1.90 $ 9.84
============= ============ ============= ==========
(Mcf) (Bbls) (Mcf) (Bbls)
Net production volumes attributable
to the Royalty..................... 1,609,279 108,335 1,711,520 93,771
============= ============ ============= ==========
- ---------
(1) Gross Proceeds attributable to natural gas liquids for the Hugoton and San
Juan Basin Royalty Properties are net of a volumetric in kind processing
fee retained by Mesa and Conoco, respectively.
(2) Capital costs recovered represents capital costs incurred during the
current or prior periods to the extent that such costs have been recovered
by the working interest owners from current period Gross Proceeds. Cost
carryforward represents capital costs incurred during the current or prior
periods which will be recovered from future period Gross Proceeds. The
cost carryforward resulting from the Fruitland Coal drilling program was
$488,198 and $419,039 at June 30, 1995
5
and June 30, 1994, respectively. The cost carryforward at June 30, 1995
and June 30, 1994 relate solely to the San Juan Basin Colorado properties.
THREE MONTHS ENDED JUNE 30, 1995 AND 1994
The distributable income of the Trust includes the royalty income received
from the working interest owners during such period, plus interest income
earned to the date of distribution. Trust administration expenses are deducted
in the computation of distributable income. Distributable income for the
quarter ended June 30, 1995 was $1,424,631, representing $.7645 per unit,
compared to $1,839,403, representing $.9870 per unit for the quarter ended
June 30, 1994. Based on 1,863,590 units outstanding for the quarters ended
June 30, 1995 and 1994, respectively, the per unit distributions were as
follows:
1995 1994
---------- ----------
April................................ $ .2229 $ .3742
May.................................. .2940 .3249
June................................. .2476 .2879
---------- ----------
$ .7645 $ .9870
========== ==========
HUGOTON FIELD
Through May 31, 1995, Mesa's principal natural gas purchaser in the
Hugoton field was Western Resources, Inc., previously the Kansas Power and
Light Company ("WRI"). Mesa sold gas from the Hugoton field to WRI pursuant to
a contract entered into effective January 1, 1990 (the "WRI Contract") which
terminated on May 31, 1995. Mesa has advised the Trust that since June 1, 1995
natural gas previously subject to the WRI Contract has been sold under
short-term contracts at market clearing prices to multiple purchasers,
including WRI, and that Mesa intends to continue to market production from the
Hugoton field under such short-term contracts.
The WRI Contract provided for WRI to purchase from 12.7 to 19.5 billion
cubic feet of gas per year (approximately 1.3 to 2.0 billion cubic feet of gas
per year net to the Trust subject to the effect of operating expenses and
capital costs) at market prices for a total of at least 92.4 billion cubic
feet of gas (approximately 10 billion cubic feet of gas net to the Trust
subject to the effect of operating expenses and capital costs) during the term
of the agreement as amended. Under the WRI Contract, WRI paid market clearing
prices as determined monthly based on a price index published by a third
party. The WRI Contract also contained take-or-pay provisions requiring WRI to
purchase and receive, or pay for if not taken, 85% of the nominated contract
quantities during each seasonal period. The WRI Contract provided WRI with
certain make-up rights during the one-year period following termination of the
WRI Contract. With respect to gas that was the subject of make-up rights, WRI
was required to pay the higher of (i) a market clearing price determined by
reference to prices in effect when the make-up obligation was incurred or (ii)
a market clearing price determined by reference to prices in effect when the
make-up gas was taken. Upon termination of the WRI Contract on May 31, 1995,
WRI incurred a take-or-pay deficiency of approximately 2.0 billion cubic feet
of gas. Mesa has advised the Trust that WRI made up the entire amount of such
deficiency during June 1995. The Trust will receive its proportionate share of
the take-or-pay money received from WRI by Mesa in August 1995. Under the WRI
Contract any available gas not taken by WRI could be sold by Mesa to third
parties. During the second quarter of 1995, Mesa sold certain volumes of gas
not taken by WRI to third parties under short-term contracts at market
clearing prices. Overall market prices received for natural gas from the
Hugoton Royalty Properties were lower in the second quarter of 1995 compared
to the second quarter of 1994.
6
In June 1994, Mesa entered into a Gas Transportation Agreement with WRI
("Gas Transportation Agreement") for a primary term of five years commencing
June 1, 1995 and ending June 1, 2000, but which may be continued in effect
year-to-year thereafter. Pursuant to the Gas Transportation Agreement, WRI has
agreed to compress and transport up to 160 MMcf per day of gas and redeliver
such gas to Mesa at the inlet of Mesa's Satanta Plant. Mesa has agreed to pay
WRI a fee of $0.06 per Mcf, escalating 4% annually beginning June 1, 1996.
Royalty income attributable to the Hugoton Royalty decreased to $1,120,583
in the second quarter of 1995 as compared to $1,224,349 in the second quarter
of 1994 primarily due to decreased natural gas prices. Net production
attributable to the Hugoton Royalty was 500,795 Mcf of natural gas and 37,577
barrels of natural gas liquids in the second quarter of 1995 compared to
456,288 Mcf of natural gas and 37,900 barrels of natural gas liquids in the
second quarter of 1994. The increase in natural gas production was
attributable to a favorable field allowable ruling effective April 1994. The
average price received in the second quarter of 1995 for natural gas sold from
the Hugoton field was $1.47 per Mcf, compared to $1.90 per Mcf during the same
period in 1994.
Allowable rates of production in the Hugoton field are set by the Kansas
Corporation Commission (the "KCC") based on the level of market demand. The
KCC has set the Hugoton field allowable for the period April 1, 1995 through
September 30, 1995 at 244 billion cubic feet of gas, compared with 240 billion
cubic feet of gas during the same period last year.
The KCC held hearings from August 1992 to September 1993 to consider
regulatory changes to the manner in which fieldwide allowables are allocated
among individual wells within the Hugoton field. Specifically, the KCC
considered proposals from various producers to amend calculations of well
deliverability, the allocation of allowables based on acreage and infill wells
and the makeup of underages. On February 2, 1994, the KCC issued an order that
was substantially effective as of April 1, 1994. Under the order, the Hugoton
Royalty Properties' percentage of the field and the total allowable assigned
to the wells was increased. Mesa estimates that the gross allowable production
from the Hugoton Royalty Properties in 1995 will be 44 billion cubic feet of
gas, an increase of approximately five percent over 1994 production. This
anticipated production increase is primarily attributable to the increased
field allowables and the regulatory changes discussed above. These regulatory
changes significantly increased the Hugoton Royalty Properties' share of the
field allowable after having been restricted by the KCC.
In the first quarter of 1995, in an effort to address significant
projected debt service deficiencies, MESA Inc. began an auction process to
sell all or a portion of its interests in the Hugoton field, including the
Hugoton Royalty Properties. MESA Inc.'s interests in the Hugoton field
represent two thirds of MESA Inc.'s total equivalent oil and gas reserves. The
auction process was concluded in the second quarter of 1995 with no acceptable
bids received. On July 6, 1995, the MESA Inc. Board of Directors approved a
proposal to expand its review of strategic alternatives to include
consideration of the sale of MESA Inc. and a stock-for-stock merger. The MESA
Inc. Board also determined to continue to explore the sale of all or a portion
of the Hugoton field properties and to explore other restructuring
alternatives, including possible joint ventures involving the Hugoton
properties, asset sales, equity infusions, and refinancing transactions. The
MESA Inc. Board engaged independent financial advisors to manage these efforts
and to seek indications of interest from potential buyers of MESA Inc. or its
properties and of potential merger partners, both domestic and foreign. There
can be no assurance that a sale or merger of MESA Inc. or a sale of its
properties will be completed, or if completed, what the terms thereof will be.
MESA Inc.'s projected debt service problems, as well as any restructuring,
sale, merger or other strategic alternative, could have significant effects on
the Trust, although the precise nature of such effects cannot be predicted or
quantified at this time.
7
No assurance can be given by the Trust regarding MESA Inc.'s financial
condition. An event of bankruptcy of MESA Inc. could result in a delay in
receipt of royalty payments by the Trust, increased administrative expenses of
the Trust and other effects which cannot be predicted or quantified at this
time.
SAN JUAN BASIN
Royalty income from the San Juan Basin Royalty Properties is calculated
and paid to the Trust on a state-by-state basis. The royalty income from the
San Juan Basin Royalty Properties located in the state of New Mexico was
$321,557 during the second quarter of 1995 as compared with $606,936 in the
second quarter of 1994. The decrease in New Mexico San Juan Basin royalty
income between the second quarter of 1995 and the second quarter of 1994 was
primarily the result of decreased natural gas prices and production. No
royalty income was received from the San Juan Basin Royalty Properties located
in Colorado for the second quarter of 1995 or 1994, as costs associated with
the Fruitland Coal drilling on such properties have not been fully recovered.
Net production attributable to the San Juan Basin Royalty was 215,284 Mcf of
natural gas and 7,930 barrels of natural gas liquids in the second quarter of
1995 as compared to 290,447 Mcf of natural gas and 8,882 barrels of natural
gas liquids in the second quarter of 1994. The average price received in the
second quarter of 1995 for natural gas sold from the San Juan Basin Royalty
Properties was $1.08 per Mcf, compared to $1.74 per Mcf during the same period
in 1994.
The Trust's interest in the San Juan Basin was conveyed from Mesa's
working interest in 31,328 net producing acres in northwestern New Mexico and
southwestern Colorado. The San Juan Basin New Mexico reserves represent
approximately 20% of the Trust's reserves. Mesa completed the sale of its
underlying interest in the San Juan Basin Royalty Properties to Conoco on
April 30, 1991. Conoco subsequently sold its underlying interest in the
Colorado portion of the San Juan Basin Royalty Properties to MarkWest Energy
Partners, Ltd. (effective January 1, 1993) and Red Willow Production Company
(effective April 1, 1992). On October 26, 1994, MarkWest Energy Partners, Ltd.
sold substantially all of its interest in the Colorado San Juan Basin Royalty
Properties to Amoco. The San Juan Basin Royalty Properties located in Colorado
account for less than 5% of the Trust's reserves.
SIX MONTHS ENDED JUNE 30, 1995 AND 1994
Distributable income decreased to $3,543,974 for the six months ended June
30, 1995 from $4,212,485 for the same period in 1994 due primarily to
decreased natural gas prices and production.
HUGOTON FIELD
Royalty income attributable to the Hugoton Royalty Properties decreased to
$2,655,289 for the six months ended June 30, 1995 from $2,971,133 for the same
period in 1994 primarily due to decreased natural gas prices. The average
price received in the first six months of 1995 for natural gas sold from the
Hugoton field was $1.56 per Mcf, compared to $1.94 per Mcf during the same
period in 1994.
SAN JUAN BASIN
Royalty income attributable to the New Mexico San Juan Basin Royalty
Properties decreased to $889,765 for the first six months of 1995 compared to
$1,223,022 in the first six months of 1994 primarily as a result of decreased
natural gas prices. The average price received in the first six months of 1995
for natural gas sold from the San Juan Basin was $1.30 per Mcf, compared to
$1.84 per Mcf during the same period in 1994.
8
In April 1990, the working interest owner began drilling for coalbed
methane gas in the Fruitland Coal formation of the San Juan Basin. The
Fruitland Coal formation has been identified as one of the most prolific
sources of U.S. coalbed methane reserves. The Trust owns an interest in 26,700
gross acres (25,400 net acres) with Fruitland Coal potential. The working
interest owner has advised the Trust that it operates 40 (22.9 net) Fruitland
Coal wells on Trust properties. Of such wells, 37 (21.7 net) are producing at
a combined rate of 66.3 (35.8 net) MMcf per day.
The gas that is currently being produced from the San Juan Basin Royalty
Properties is being sold primarily on the spot market. Conoco has advised the
Trust that it will also consider selling some of the gas produced from these
wells pursuant to longer term contracts at spot market prices.
Conoco has informed the Trust that it believes the production from the
Fruitland Coal formation will generally qualify for the tax credits provided
under Section 29 of the Internal Revenue Code of 1986, as amended. The Trust
believes that such tax credits should be available to Trust unitholders on
their individual tax returns.
PART II -- OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.
(a) EXHIBITS
(Asterisk indicates exhibit previously filed with the Securities and
Exchange Commission and incorporated herein by reference.)
SEC FILE
OR
REGISTRATION EXHIBIT
NUMBER NUMBER
------------- -------
4(a) *Mesa Royalty Trust Indenture between Mesa Petroleum Co. and Texas
Commerce Bank National Association, as Trustee, dated November 1,
1979............................................................... 2-65217 1(a)
4(b) *Overriding Royalty Conveyance between Mesa Petroleum Co. and Texas
Commerce Bank, as Trustee, dated November 1, 1979.................. 2-65217 1(b)
4(c) *First Amendment to the Mesa Royalty Trust Indenture dated as of
March 14, 1985 (Exhibit 4(c) to Form 10-K
for year ended December 31, 1984 of Mesa Royalty Trust) . . 1-7884 4(c)
4(d) *Form of Assignment of Overriding Royalty Interest, effective April
1, 1985, from Texas Commerce Bank National Association, as Trustee,
to MTR Holding Co. (Exhibit 4(d) to Form 10-K for year ended
December 31, 1984 of Mesa Royalty Trust)........................... 1-7884 4(d)
4(e) *Purchase and Sale Agreement, dated March 25, 1991, by and among
Mesa Limited Partnership, Mesa Operating Limited Partnership and
Conoco, as amended on April 30, 1991 (Exhibit 4(e) to Form 10-K for
year ended December 31, 1991 of Mesa Royalty Trust)................ 1-7884 4(e)
10(e) *Gas Purchase Contract, dated as of January 1, 1990, between Mesa
Operating Limited Partnership, Seller and the Kansas Power & Light
Company, Buyer (Exhibit 19(a) to Form 10-Q for quarter ended June
30, 1989 of Mesa Royalty Trust).................................... 1-7884 19(a)
9
10(f) *Amendment No. 3 to Hugoton (MTR) Gas Purchase Contract, dated
December 19, 1991, by and between Hugoton Capital Limited
Partnership, as partial successor in interest to Mesa Operating
Limited Partnership, and the Kansas Power and Light Company
(Exhibit 10(f) to Form 10-K for year ended December 31, 1991 of
Mesa Royalty Trust)................................................ 1-7884 10(f)
10(h) *Gas Transportation Agreement dated as of June 14, 1994 by and
between Mesa Operating Co. and Western Resources, Inc. (Exhibit
10(h) to Form 10-Q for quarter ended March 31, 1995 of Mesa Royalty
Trust)............................................................. 1-7884 10(h)
27 Financial Data Schedule
(b) REPORTS ON FORM 8-K.
No reports on Form 8-K were filed with the Securities and Exchange
Commission by the Trust during the second quarter of 1995.
10
SIGNATURES
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE
REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE
UNDERSIGNED, THEREUNTO DULY AUTHORIZED.
MESA ROYALTY TRUST
TEXAS COMMERCE BANK
By NATIONAL ASSOCIATION
TRUSTEE
By MICHAEL J. ULRICH
Michael J. Ulrich
Vice President & Trust Officer
Date: August 11, 1995
The Registrant, Mesa Royalty Trust, has no principal executive officer,
principal financial officer, board of directors or persons performing similar
functions. Accordingly, no additional signatures are available and none have
been provided.
11