MARINE PETROLEUM TRUST ANNOUNCES FIRST QUARTER CASH DISTRIBUTION

Rhea-AI Summary

Marine Petroleum Trust (NASDAQ: MARPS) announced a quarterly cash distribution of $0.107485 per unit, payable on March 28, 2022. This amount is slightly higher than the $0.106743 distributed last quarter and significantly above the $0.018129 from the same quarter in 2021. The distribution reflects increased production volumes of oil alongside an increase in realized prices for oil and natural gas. The record date for unitholders is February 28, 2022, with royalties received typically lagging production by two to three months.

Positive

• Distribution of $0.107485 per unit is higher than last quarter's $0.106743 and significantly better than $0.018129 in Q1 2021.
• Increase in oil production volumes and realized prices boosts the cash distribution for unitholders.

Negative

• Natural gas production volume has decreased compared to previous distributions.

News Market Reaction

+0.53%

1 alert

+0.53% News Effect

On the day this news was published, MARPS gained 0.53%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

DALLAS, Feb. 17, 2022 /PRNewswire/ -- Marine Petroleum Trust (NASDAQ: MARPS) ("Marine") today declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.107485 per unit, payable on March 28, 2022, to unitholders of record on February 28, 2022.  Marine's 2021 tax information, cash distribution history, current and prior year financial reports, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http://www.marps-marine.com/. Additionally, printed reports can be requested and are mailed free of charge.

This distribution of $0.107485 per unit is slightly higher than the $0.106743 per unit distributed last quarter. As compared to the previous quarter, the volume of oil produced and included in this distribution increased slightly while the volume of natural gas has decreased.  The price realized for both oil and natural gas produced and included in the current distribution increased this quarter. This distribution is higher than the $0.018129 per unit distributed in the comparable quarter in 2021.  As compared to the comparable quarter in 2021, the volumes of both oil and natural gas produced and included in the current distribution and the price realized for both oil and natural gas have increased.

Marine's distributions to unitholders are determined by royalties received up to the date the distribution amount is declared. In general, Marine receives royalties two months after oil production and three months after natural gas production.

Contact:	Ron E. Hooper
	SVP, Royalty Trust Services
	Simmons Bank, Trustee
	Toll Free – 1.855.588-7839

 

View original content:https://www.prnewswire.com/news-releases/marine-petroleum-trust-announces-first-quarter-cash-distribution-301484698.html

SOURCE Marine Petroleum Trust

FAQ

What is the cash distribution amount declared by Marine Petroleum Trust (MARPS) for Q1 2022?

Marine Petroleum Trust declared a cash distribution of $0.107485 per unit for Q1 2022.

When will the cash distribution be paid to unitholders of MARPS?

The cash distribution will be paid on March 28, 2022.

What was the distribution amount for the same quarter last year for MARPS?

The distribution amount for the same quarter last year was $0.018129 per unit.

What factors influenced the recent distribution announcement by MARPS?

The recent distribution was influenced by increased oil production volumes and higher realized prices for both oil and natural gas.

When is the record date for unitholders entitled to the MARPS cash distribution?

The record date for unitholders is February 28, 2022.