Declining oil and gas production saw Bass Strait Oil Trust report a 17.1% decrease in royalties r...
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Despite higher average oil prices, the trust said royalty income for the December quarter was $10.34 million, down from the $12.47 million received in the September quarter as oil production decreased from 13.9 million barrels to 11.9 million barrels in the respective quarters.
"The decrease in oil production reflects natural field decline. Natural gas production was lower due to seasonal conditions," the Trust said.
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