they would first have to be permitted and the new wells profits go largely to pcec only 7% of profits go to royt until 2020 then royt gets 20% so the new wells have a smaller effect on royt. what is good is the very low decline rate of the existing royt wells.
The beauty of ROYT trust structure is that it *prevents* the operating (PCEC) from raiding and reducing the cash distribution of the trust for new well development purposes. PCEC has to fund it themselves. NDRO, on the other hand, raids and reduces cash distributions to unit holders in the name of new well development. You see, it is stupid to be betting on NDRO over ROYT. Structurally, NDRO screws its own unit holders for drilling wells, while for ROYT, it is meant to be a small bonus without ever eating into the monthly cash distribution structure. Those Stanford petroleum engineers did a good job for setting up the trust this way - at least for the entry price of $10. People who buy around this price will make a lot of money over the next few decades.