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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) announced a Trust distribution of net profits for Q3 2020, totaling $1,092,500 or $0.095 per unit, payable on October 23, 2020. The Trust achieved gross proceeds of $5,613,503 from a volume of 156,608 BOE, with an average price of $35.84 per BOE. Despite this, the impact of low oil prices and COVID-19 has raised concerns about future distributions, which may fall significantly or even cease. The Trust is utilizing its reserve funds to address past deficits, highlighting ongoing financial challenges.