MARINE PETROLEUM TRUST ANNOUNCES THIRD QUARTER CASH DISTRIBUTION

Rhea-AI Summary

Marine Petroleum Trust (NASDAQ: MARPS) has declared a quarterly cash distribution of $0.261822 per unit, set to be paid on September 28, 2022, with a record date of August 31, 2022. This amount is an increase from the previous quarter's distribution of $0.197500 and also surpasses the $0.064312 distributed in the same quarter of 2021. The increase is attributed to higher production volumes and realized prices for oil and natural gas compared to prior periods.

Positive

• Quarterly cash distribution increased to $0.261822 per unit from $0.197500 the previous quarter.
• Current distribution exceeds $0.064312 from the comparable quarter in 2021.
• Increased production volumes of oil and natural gas contributed to higher distributions.

Negative

• None.

DALLAS, Aug. 19, 2022 /PRNewswire/ -- Marine Petroleum Trust (NASDAQ: MARPS) ("Marine") today declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.261822 per unit, payable on September 28, 2022, to unitholders of record on August 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 $0.261822 per unit is higher than the $0.197500 per unit distributed last quarter, as the volumes produced of and price realized on both oil and natural gas included in this distribution increased this quarter. This distribution is higher than the $0.064312 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

 

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SOURCE Marine Petroleum Trust

FAQ

What is the cash distribution amount announced by Marine Petroleum Trust (MARPS) for the third quarter of 2022?

Marine Petroleum Trust announced a cash distribution of $0.261822 per unit for the third quarter of 2022.

When is the payment date for the cash distribution from Marine Petroleum Trust (MARPS)?

The payment date for the cash distribution is September 28, 2022.

What was the cash distribution amount in the previous quarter for Marine Petroleum Trust (MARPS)?

The cash distribution in the previous quarter was $0.197500 per unit.

How does the current distribution compare to the same quarter in 2021 for Marine Petroleum Trust (MARPS)?

The current distribution of $0.261822 per unit is higher than the $0.064312 distributed in the same quarter of 2021.

What factors contributed to the increase in cash distribution for Marine Petroleum Trust (MARPS)?

The increase in cash distribution was attributed to higher production volumes and realized prices for oil and natural gas.