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MV Oil Trust (MVO) reports quarterly cash distributions from its net profits interest, with releases detailing production volumes in BOE, average realized prices, gross proceeds, costs, net profits, Trust expense provisions and cash available for distribution. The statutory trust was created to acquire and hold the net profits interest for the benefit of Trust unitholders, and its units of beneficial interest trade on the NYSE.
Recurring updates also include Annual Report on Form 10-K notices and risk disclosures about the Trust’s finite life, including the scheduled termination of the net profits interest and related market-price risk for Trust units.
MV Oil Trust (NYSE: MVO) has announced its distribution of net profits for the third quarter of 2024. Unitholders of record on October 15, 2024, will receive a distribution of $3,795,000, or $0.330 per unit, payable on October 25, 2024. The Trust reported the following key figures for the payment period:
- Volume: 149,086 BOE
- Average price: $73.90 per BOE
- Gross proceeds: $11,017,675
- Costs: $5,957,766
- Net profits: $5,059,909
The Trust's 80% Net profits interest amounted to $4,047,927. After accounting for estimated Trust expenses of $252,927, the net cash proceeds available for distribution totaled $3,795,000.
MV Oil Trust (NYSE: MVO) announced a distribution of net profits for the quarter ending June 30, 2024. Unitholders of record as of July 15, 2024, will receive $4,715,000 or $0.410 per unit, payable on July 25, 2024.
Key figures for the quarter include a volume of 151,140 BOE, an average price of $76.62 per BOE, generating gross proceeds of $11,580,171. After subtracting costs of $5,393,841, the net profits stood at $6,186,330.
The Trust's 80% net profits interest resulted in $4,949,064, with an estimated $234,064 reserved for Trust expenses, leaving $4,715,000 available for distribution.
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MV Oil Trust (NYSE: MVO) announced a quarterly distribution of net profits for the payment period ending March 31, 2023. Unitholders on record as of April 17, 2023, will receive a total distribution of $3,967,500, equating to $0.345 per unit, payable on April 25, 2023.
During this period, the Trust achieved a volume of 147,971 BOE with an average price of $72.67 per BOE. Gross proceeds amounted to $10,753,104, with costs recorded at $5,266,230, resulting in net profits of $5,486,874. The funds distributed will be accompanied by a reserve for future known expenses, with $263,540 withheld this quarter, meeting a total reserve of $1.265 million.
MV Oil Trust (NYSE: MVO) announced the filing of its Annual Report on Form 10-K for the year ended December 31, 2022, with the U.S. Securities and Exchange Commission (SEC) on March 16, 2023. The report details the Trust's financial performance, including audited financial statements, which are essential for investors to assess the Trust's situation. Unitholders can access the report online at the Trust's website or request a printed copy by contacting the Trustee, The Bank of New York Mellon Trust Company, N.A.
MV Oil Trust (NYSE:MVO) announced a net profit distribution of $4,715,000, equating to $0.410 per unit for the quarter ending December 31, 2022. Unitholders of record as of January 17, 2023 will receive this payment on January 25, 2023. The Trust reported a total production volume of 156,781 BOE at an average price of $80.31 per BOE, leading to gross proceeds of $12,590,781. However, $263,541 was withheld to build a reserve for future expenses.