VOC Energy Trust

For the period ended Dec 31, 2025. Filed Mar 24, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 24, 2026

VOC$2.88-2.4%Stored close · as of Nov 9, 2026

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Contents

Item 9A. Controls and Procedures

STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOWS

FROM PROVED OIL AND GAS RESERVES

Estimates of future net cash flows from proved reserves of crude oil and natural gas are computed using the average, first-day-of-the-month price during the 12-month period for 2023, 2024 and 2025.

· · · 2023 · · · 2024 · · · 2025 ·
Future cash inflows	$175,123,174	$139,048,563	$101,295,200
Future costs
Production	(76,651,487)	(64,104,176)	(54,226,563)
Development	(29,432,877)	(28,967,821)	(29,357,357)
Future net cash flows	69,038,810	45,976,566	17,711,280
Less 10% discount factor	(18,870,992)	(11,196,048)	(5,199,042)
Standardized measure of discounted future net cash flows	$50,167,818	$34,780,518	$12,512,238

CHANGES IN STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH

FLOWS FROM PROVED OIL AND GAS RESERVES

· · · 2023 · · · 2024 · · · 2025 ·
Standardized measure at beginning of year	$98,381,229	$50,167,818	$34,780,518
Net proceeds to the Trust	(16,459,918)	(13,622,718)	(8,619,944)
Net changes in price and production costs	(44,045,655)	(5,726,482)	(12,443,243)
Changes in estimated future development costs	5,061,640	43,263	(3,050,674)
Development costs incurred during the year	57,549	—	—
Revisions of quantity estimates	(4,152,012)	(1,572,839)	826,855
Accretion of discount	9,838,123	5,016,782	3,478,052
Changes in production rates, timing and other	1,486,862	474,694	(2,459,326)
Standardized measure at end of year	$50,167,818	$34,780,518	$12,512,238

The average, first-day-of-the-month price during the 12-month period for 2023, 2024 and 2025 used in determining future net revenues related to the standardized measure calculation are as follows:

· · · 2023 · · · 2024 · · · 2025 ·
Oil (per Bbl)				$75.24					$72.58					$62.91
Gas (per Mcf)				$1.76					$1.17					$2.40

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

None.

Item 9A. Controls and Procedures.

Evaluation of disclosure controls and procedures. The Trustee maintains disclosure controls and procedures designed to ensure that information to be disclosed by the Trust in the reports that it files or submits under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in the rules and regulations promulgated by the SEC. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed by the Trust is accumulated and communicated by VOC Brazos to The Bank of New York Mellon Trust Company, N.A., as trustee of the Trust, and its employees who participate in the preparation of the Trust’s periodic reports as appropriate to allow timely decisions regarding required disclosure.

As of the end of the period covered by this report, the Trustee carried out an evaluation of the Trust’s disclosure controls and procedures. Elaina Rodgers, as Trust Officer of the Trustee, has concluded that the disclosure controls and procedures of the Trust are effective.

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