MV Oil Trust Announces Trust Third Quarter Distribution
October 04 2019 - 3:15PM
Business Wire
MV Oil Trust (NYSE: MVO) announced the Trust distribution of net
profits for the third quarterly payment period ended September 30,
2019.
Unitholders of record on October 15, 2019 will receive a
distribution amounting to $2,472,500 or $0.215 per unit payable
October 25, 2019.
Volumes, average price and net profits for the payment period
were:
Volume (BOE)
181,171
Average price (per BOE)
$
50.87
Gross proceeds
$
9,216,396
Costs
$
5,660,238
Net profits
$
3,556,158
Percentage applicable to Trust’s 80%
Net profits interest
$
2,844,927
MV Partners reserve for capital
expenditures
$
0
Total cash proceeds available for the
Trust
$
2,844,927
Provision for estimated Trust expenses
$
(372,427
)
Net cash proceeds available for
distribution
$
2,472,500
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 September 30, 2019. 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, and other risk factors described in the Trust’s Form 10-K
for the year ended December 31, 2018 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/20191004005392/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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