Press Release: MV Oil Trust Announces Trust Third Quarter Distribution

MV Oil Trust Announces Trust Third Quarter Distribution

HOUSTON--(BUSINESS WIRE)--October 04, 2024-- 

MV Oil Trust (NYSE: MVO) announced the Trust distribution of net profits for the quarterly payment period ended September 30, 2024.

Unitholders of record on October 15, 2024 will receive a distribution amounting to $3,795,000 or $0.330 per unit payable October 25, 2024.

Volumes, average price and net profits for the payment period were:

 
 
Volume $(BOE.AU)$                                          149,086 
Average price (per BOE)                           $     73.90 
Gross proceeds                                    $11,017,675 
Costs                                             $ 5,957,766 
Net profits                                       $ 5,059,909 
Percentage applicable to Trust's 80% 
    Net profits interest                          $ 4,047,927 
MV Partners reserve for capital expenditures      $        -- 
Total cash proceeds available for the Trust       $ 4,047,927 
Provision for current estimated Trust expenses    $  (252,927) 
Net cash proceeds available for distribution      $ 3,795,000 
 
 

This press release contains forward-looking statements. Although MV Partners, LLC ("MV Partners") has advised the Trust that MV Partners 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, 2024. 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, 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, 2023 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241004377376/en/

 
    CONTACT:    MV Oil Trust 

The Bank of New York Mellon Trust Company, N.A., as Trustee

Elaina Rodgers

713-483-6020

601 Travis Street, Floor 16, Houston, TX 77002

(END) Dow Jones Newswires

October 04, 2024 16:20 ET (20:20 GMT)