Mesa Offshore Trust operates as a trust company in the United States. The principal asset of the trust consists of a 99.99% interest in the Mesa Offshore Royalty Partnership, which holds a net overriding royalty interest in 10 producing and non-producing oil and gas properties located in federal waters offshore Louisiana and Texas. The trust is entitled to its share of 90% of the net proceeds, realized from the sale of the hydrocarbons produced from the properties. As a grantor trust, it would incur no federal income tax liability. The trust was created in 1982 and has its principal offices in Austin, Texas.