VOC Energy Trust is a statutory trust that holds a net profits interest (NPI) in oil and gas properties operated by VOC Brazos Energy Partners across Kansas and Texas. The Trust does not operate any properties or employ staff — it simply collects 80% of net proceeds from oil and gas production on the underlying properties and distributes cash to unitholders quarterly. The underlying properties consist of 703 producing wells across roughly 81,000 gross acres, with the portfolio predominantly oil-weighted. The Kurten field in Central Texas alone represents nearly 59% of total proved reserves. Net proceeds are calculated as gross oil and gas revenue minus royalties, production and property taxes, lease operating expenses, development costs, and overhead — with VOC Brazos remitting 80% to the Trust after each quarter. Oil price is the dominant earnings driver, as oil accounts for roughly 90% of revenue, making distributions highly sensitive to WTI pricing. Production volumes are naturally declining at roughly 8.7% per year, meaning each distribution is partly a return of capital. The Trust is finite-life and self-liquidating, terminating on the later of December 31, 2030 or when 10.6 MMBoe have been produced from the underlying properties. As of year-end 2025, roughly 91% of the Trust's production lifecycle had been consumed, with only 1,730 MBoe of proved reserves remaining. At termination, the NPI is extinguished and the Trust winds up with no residual asset value.