NAV & distributions
No NAV has been published yet. The first NAV is struck at the first month-end after the offering opens.
No published NAV runs.
No distributions paid yet.
Composition
Published once the first NAV is struck.
NAV = PV-10 of proved developed producing reserves (Arps decline, strip pricing) + cash + acquisitions under contract at cost + marketable securities at mark − liabilities − asset-retirement accrual − subscriptions received but not yet converted. NAV per share = NAV ÷ shares outstanding.
Each NAV is struck as of month-end, reviewed by the valuation committee against the prior month and the reserve report, and published within the first business days of the following month — before subscriptions convert on the 1st. The reserve data hash lets any shareholder verify that the well-level inputs have not changed since publication.
Distributions
Per share, gross of withholding. Your own statement shows your gross, withheld and net.
No distributions paid yet.
No published NAV runs.
Illustrative only. Nothing here is a forecast or a guarantee. Oil and gas interests are wasting assets: production declines as reserves are produced, distributions vary and include a return of capital, and NAV per share is an estimate that will change. Nothing on this page is an offer to sell or a solicitation of an offer to buy any security. Past distributions are not indicative of future distributions. The return-of-capital estimate is finalized after year-end.