This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
VOC Energy Trust holds an 80% net profits interest in producing oil and natural gas properties in Kansas and Texas operated by VOC Brazos Energy Partners. The trust distributes income derived entirely from fossil fuel production to unitholders on a quarterly basis. Per the company's FY2024 10-K, total revenue was approximately $13.6 million, a 17% decline from the prior year's $16.5 million, reflecting lower commodity prices. The underlying properties include interests in approximately 739 gross (454.6 net) producing wells across 81,095 gross (50,310.7 net) acres. Quarterly distributions in 2024 ranged from $0.085 to $0.18 per unit. The trust is structured to terminate when 10.6 million BOE have been produced or after December 31, 2030, whichever is later. The trust's sole economic purpose is the distribution of proceeds from upstream fossil fuel production.
Research Sources
2 organizations
Related Exclusions
Wondering what we do invest in?
The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.