MARINE PETROLEUM TRUST ANNOUNCES FOURTH QUARTER CASH DISTRIBUTION

Marine Petroleum Trust (NASDAQ: MARPS) has declared a quarterly cash distribution of $0.102923 per unit, payable on December 30, 2024, to unitholders of record on November 29, 2024.

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Rhea-AI Summary

Marine Petroleum Trust (NASDAQ: MARPS) has declared a quarterly cash distribution of $0.102923 per unit, payable on December 30, 2024, to unitholders of record on November 29, 2024. This distribution is higher than both the previous quarter's $0.094886 and the year-ago quarter's $0.083661. The increase reflects higher oil volumes and prices compared to last quarter, despite decreased natural gas pricing. Compared to Q4 2023, oil production decreased while natural gas production increased, with prices for both commodities showing improvement.

Positive

Quarterly distribution increased 8.5% from previous quarter ($0.102923 vs $0.094886)
Distribution increased 23% year-over-year ($0.102923 vs $0.083661)
Oil volumes and prices increased compared to previous quarter
Natural gas production increased compared to Q4 2023
Both oil and natural gas prices improved year-over-year

Negative

Natural gas pricing decreased compared to previous quarter
Oil production volumes decreased compared to Q4 2023

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11/18/2024 - 10:11 AM EST

DALLAS, Nov. 18, 2024 /PRNewswire/ -- Marine Petroleum Trust (NASDAQ: MARPS) ("Marine") today declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.102923 per unit, payable on December 30, 2024, to unitholders of record on November 29, 2024. Marine's 2023 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 $0.102923 per unit is higher than the $0.094886 per unit distributed last quarter. Volumes of both oil and natural gas produced and prices realized for oil included in this distribution have increased, while natural gas pricing has decreased when compared to last quarter. This distribution is higher than the $0.083661 per unit distributed in the comparable quarter in 2023. As compared to the comparable quarter in 2023, the volume of oil produced decreased this year while production for natural gas increased. As compared to the comparable quarter in 2023, 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:	Jana Egeler
	VP, Royalty Trust Services
	Argent Trust Company, Trustee
	Toll Free – 1.855.588-7839

View original content:https://www.prnewswire.com/news-releases/marine-petroleum-trust-announces-fourth-quarter-cash-distribution-302308647.html

SOURCE Marine Petroleum Trust

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Marine Petroleum Trust's (MARPS) Q4 2024 distribution amount?

Marine Petroleum Trust announced a Q4 2024 distribution of $0.102923 per unit, payable on December 30, 2024.

How does MARPS Q4 2024 distribution compare to previous quarter?

The Q4 2024 distribution of $0.102923 is higher than the previous quarter's distribution of $0.094886, representing an increase of 8.5%.

When is the record date for MARPS Q4 2024 distribution?

The record date for Marine Petroleum Trust's Q4 2024 distribution is November 29, 2024.

How has MARPS natural gas production changed year-over-year in Q4 2024?

Natural gas production increased in Q4 2024 compared to the same quarter in 2023, with improved pricing year-over-year.

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MARINE PETROLEUM TRUST ANNOUNCES FOURTH QUARTER CASH DISTRIBUTION