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BP Prudhoe Bay Royalty Trust holds a non-operating overriding royalty interest in crude oil and condensate production from the Prudhoe Bay oil field in Alaska. The Trust receives royalty payments based on a fixed percentage of production from working interests originally owned by BP Alaska (now Hilcorp North Slope, LLC). It operates as a grantor trust, distributing income to unit holders without engaging in operations or exploration.
This description was generated via AI from an annual report. Updated about 1 year ago.