MARINE PETROLEUM TRUST ANNOUNCES SECOND QUARTER CASH DISTRIBUTION

Marine Petroleum Trust (NASDAQ: MARPS) declared a quarterly cash distribution of $0.197500 per unit, payable on June 28, 2022.

Rhea-AI Summary

Marine Petroleum Trust (NASDAQ: MARPS) declared a quarterly cash distribution of $0.197500 per unit, payable on June 28, 2022. This is an increase from $0.107485 distributed last quarter and $0.028228 in the same quarter of 2021. Oil production volume slightly decreased, while natural gas production volume increased. The realized price for oil rose, but natural gas prices fell. The distribution also includes a final payment from an investment in Tidelands Royalty Trust 'B' totaling $93,134.47, received on February 14, 2022.

Positive

• Quarterly cash distribution increased to $0.197500 from $0.107485 last quarter.
• Distribution higher than $0.028228 in the same quarter last year.
• Increased realized price for oil contributes positively to revenue.
• Included a significant final distribution from investment in Tidelands Royalty Trust 'B' amounting to $93,134.47.

Negative

• Slight decrease in oil production volume compared to the previous quarter.
• Decreased price realized for natural gas compared to previous periods.

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DALLAS, May 20, 2022 /PRNewswire/ -- Marine Petroleum Trust (NASDAQ: MARPS) ("Marine") today declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.197500 per unit, payable on June 28, 2022, to unitholders of record on May 31, 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 $0.197500 per unit is higher than the $0.107485 per unit distributed last quarter. As compared to the previous quarter, the volume of oil produced and included in this distribution decreased slightly while the volume of natural gas has increased.  The price realized for oil produced and included in the current distribution increased this quarter while the price for natural gas decreased. This distribution is higher than the $0.028228 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.

Also included in this quarter's distribution is the Final Distribution from Marine's investment in Tidelands Royalty Trust "B" in the amount of $93,134.47, received as of February 14, 2022. 

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 EHooper
	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-second-quarter-cash-distribution-301551410.html

SOURCE Marine Petroleum Trust

FAQ

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

What is the cash distribution amount for Marine Petroleum Trust in Q2 2022?

Marine Petroleum Trust declared a cash distribution of $0.197500 per unit for Q2 2022.

When will Marine Petroleum Trust's distribution be paid?

The distribution will be paid on June 28, 2022.

How does the Q2 2022 distribution compare to Q1 2022?

The Q2 2022 distribution of $0.197500 is higher than the $0.107485 distribution in Q1 2022.

What were the oil and gas production trends for Marine Petroleum Trust?

Oil production volume slightly decreased, while natural gas production volume increased compared to the previous quarter.

What was the final distribution amount received from Tidelands Royalty Trust?

The final distribution from Tidelands Royalty Trust 'B' was $93,134.47.