Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

MV Oil Trust Announces Trust First Quarter Distribution

HOUSTON–(BUSINESS WIRE)–MV Oil Trust (NYSE: MVO) announced the Trust distribution of net profits for the quarterly payment period ended March 31, 2024.

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

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

Volume (BOE)

 

 

146,612

 

Average price (per BOE)

 

$

69.82

 

Gross proceeds

 

$

10,236,574

 

Costs

 

$

5,212,372

 

Net profits

 

$

5,024,202

 

Percentage applicable to Trust’s 80%

 

 

 

Net profits interest

 

$

4,019,362

 

MV Partners reserve for capital expenditures

 

$

 

Total cash proceeds available for the Trust

 

$

4,019,362

 

Provision for current estimated Trust expenses

 

$

(224,362

)

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 March 31, 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.

Contacts

MV Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020

#FOLLOW US ON INSTAGRAM