As a trust there must be an oil company running things. A trust is only responsable for 80% of the operating costs. The founding oil company is calling the shots like sellecting the drilling company, or they may own the drilling rig. The profile only says the company is in Austin.
My "knowledge" comes from owning SPR, another trust run by SD. Anyone following SandRidge Energy will know that SD's management in in hot water, but they are still managing the trust well IMHO.
from the S-1:
As of December 31, 2009, approximately 98% of the total proved reserves relating to the Underlying Properties, based on pre-tax present value of estimated future net revenue using a discount rate of ten percent per annum (“PV-10”), were operated, or operated on a contract operator basis, by Vess Oil Corporation (which we refer to as “Vess Oil”), L. D. Drilling Inc. or Davis Petroleum, Inc. (which we refer to collectively with Vess Oil as the “VOC Operators”).
P.S. Vess Oil Corp is also operator for MVO trust. Vess is the 'V' in both MVO and VOC.