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Marine Petroleum Trust declares quarterly cash distributions to holders of its units of beneficial interest from royalties tied to oil and natural gas production. The trust receives royalty revenue from production activities conducted by third parties, with interests associated with offshore Louisiana properties in the Gulf of Mexico.
Recurring updates focus on distribution amounts, record and payment dates, production volumes for oil and natural gas, realized commodity prices, and administrative expense effects. The trust also reports that royalties are generally received after production, with timing that differs between oil and natural gas.
Marine Petroleum Trust (NASDAQ: MARPS) announced a quarterly cash distribution of $0.018129 per unit, payable on March 29, 2021, to unitholders of record as of February 26, 2021. This distribution is an increase from $0.007178 in the previous quarter but lower than $0.065452 in the same quarter of 2020. The decrease in production volume of oil and natural gas was noted, while prices realized for these commodities increased compared to last quarter. The trust's termination date has been extended to June 1, 2041.
Marine Petroleum Trust (NASDAQ: MARPS) announced a quarterly cash distribution of $0.007178 per unit, payable on December 28, 2020. This marks a significant decrease from $0.044516 per unit in the previous quarter and $0.048759 per unit from last year. The decline in distribution is attributed to reduced production volumes of oil and natural gas, despite an increase in oil prices. Additionally, Marine has successfully extended the trust's termination date to June 1, 2041, following necessary approvals.
Marine Petroleum Trust (NASDAQ: MARPS) announced a quarterly cash distribution of $0.044516 per unit, set for payment on September 28, 2020, to unitholders of record by August 31, 2020. This distribution reflects a decrease from $0.103781 per unit in the previous quarter and $0.085500 in the same quarter of 2019. While oil production volume has increased, natural gas production has decreased, with both commodities' prices falling compared to prior periods. Distribution amounts depend on royalties received related to oil and natural gas production.