MV Oil Trust Announces Trust Second Quarter Distribution
July 06 2021 - 3:30PM
Business Wire
MV Oil Trust (NYSE: MVO) announced the Trust distribution of net
profits for the second quarterly payment period ended June 30,
2021.
Unitholders of record on July 16, 2021 will receive a
distribution amounting to $3,450,000 or $0.300 per unit payable
July 23, 2021.
Volumes, average price and net profits for the payment period
were:
Volume (BOE)
166,357
Average price (per BOE)
$
58.05
Gross proceeds
$
9,657,182
Costs
$
5,062,304
Net profits
$
4,594,878
Percentage applicable to Trust’s 80%
Net profits interest
$
3,675,902
MV Partners reserve for capital
expenditures
$
--
Total cash proceeds available for the
Trust
$
3,675,902
Provision for estimated Trust expenses
$
(225,902
)
Net cash proceeds available for
distribution
$
3,450,000
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 June 30, 2021. 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, actions by the members of
the Organization of Petroleum Exporting Countries, and other risk
factors described in the Trust’s Annual Report on Form 10-K for the
year ended December 31, 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/20210706005753/en/
MV Oil Trust The Bank of New York Mellon Trust Company, N.A.,
as Trustee Elaina Rodgers 713-483-6020
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