MV Oil Trust Announces Trust Fourth Quarter Distribution
06 January 2021 - 8:05AM
Business Wire
MV Oil Trust (NYSE: MVO) announced the Trust distribution of net
profits for the fourth quarterly payment period ended December 31,
2020.
Unitholders of record on January 15, 2021 will receive a
distribution amounting to $1,265,000 or $0.110 per unit payable
January 25, 2021.
Volumes, average price and net profits for the payment period
were:
Volume (BOE)
166,749
Average price (per BOE)
$
35.31
Gross proceeds
$
5,887,465
Costs
$
4,229,026
Net profits
$
1,658,440
Percentage applicable to Trust’s 80%
Net profits interest
$
1,326,752
MV Partners reserve for capital
expenditures
$
--
Total cash proceeds available for the
Trust
$
1,326,752
Provision for estimated Trust expenses
$
(61,752
)
Net cash proceeds available for
distribution
$
1,265,000
This press release contains forward-looking statements. Although
MV Partners, LLC has advised the Trust that MV Partners, LLC
believes that the expectations contained in this press release are
reasonable, no assurances can be given that such expectations will
prove to be correct. The announced distributable amount is based on
the amount of cash received or expected to be received by the
Trustee from the underlying properties on or prior to the record
date with respect to the quarter ended December 31, 2020. Any
differences in actual cash receipts by the Trust could affect this
distributable amount. Other important factors that could cause
these statements to differ materially include the actual results of
drilling operations, risks inherent in drilling and production of
oil and gas properties, the ability of commodity purchasers to make
payment, the effect, impact, potential duration or other
implications of the COVID-19 pandemic, the dispute over production
levels between Russia and the members of the Organization of
Petroleum Exporting Countries, including Saudi Arabia, and other
risk factors described in the Trust’s Annual Report on Form 10-K
for the year ended December 31, 2019 and Quarterly Report on Form
10-Q for the period ended September 30, 2020 filed with the
Securities and Exchange Commission. Statements made in this press
release are qualified by the cautionary statements made in these
risk factors. The Trust does not intend, and assumes no
obligations, to update any of the statements included in this press
release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210105005849/en/
MV Oil Trust The Bank of New York Mellon Trust Company, N.A.,
as Trustee Michael Ulrich 512-236-6599
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