MV Oil Trust Announces Trust First Quarter Distribution
MV Oil Trust Announces Trust First Quarter Distribution
MV Oil Trust (NYSE: MVO) announced the Trust distribution of net profits for the quarterly payment period ended March 31, 2024.
Unitholders of record on April 15, 2024 will receive a distribution amounting to $3,795,000 or $0.330 per unit payable April 25, 2024.
Volumes, average price and net profits for the payment period were:
Volume (BOE) |
|
|
146,612 |
|
Average price (per BOE) |
|
$ |
69.82 |
|
Gross proceeds |
|
$ |
10,236,574 |
|
Costs |
|
$ |
5,212,372 |
|
Net profits |
|
$ |
5,024,202 |
|
Percentage applicable to Trust’s 80% |
|
|
|
|
Net profits interest |
|
$ |
4,019,362 |
|
MV Partners reserve for capital expenditures |
|
$ |
-- |
|
Total cash proceeds available for the Trust |
|
$ |
4,019,362 |
|
Provision for current estimated Trust expenses |
|
$ |
(224,362 |
) |
Net cash proceeds available for distribution |
|
$ |
3,795,000 |
|
This press release contains forward-looking statements. Although MV Partners, LLC (“MV Partners”) has advised the Trust that MV Partners believes that the expectations contained in this press release are reasonable, no assurances can be given that such expectations will prove to be correct. The announced distributable amount is based on the amount of cash received or expected to be received by the Trustee from the underlying properties on or prior to the record date with respect to the quarter ended March 31, 2024. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause these statements to differ materially include the actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, the ability of commodity purchasers to make payment, actions by the members of the Organization of Petroleum Exporting Countries, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission. Statements made in this press release are qualified by the cautionary statements made in these risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release.
MV Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
View source version on businesswire.com: https://www.businesswire.com/news/home/20240405999106/en/
-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
Berkshire Hathaway Earnings: Strong Insurance Results Continue to Lift Revenue and Profitability
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?
-
3 Dividend Stocks for May 2024
-
Amgen Earnings: Obesity Drug Update Is Highly Encouraging
-
What’s Going on With Apple, Tesla, and Alphabet?
-
Apple Earnings: A Weak 2024, but Optimism for 2025
-
4 Utility Stocks to Play the AI Data Center Boom