MV Oil Trust Announces Fourth Quarter Distribution
HOUSTON--MV Oil Trust (NYSE: MVO) has revealed its upcoming distribution of net profits for the quarterly payment period ending on December 31, 2024. This announcement highlights the Trust's commitment to providing value to its unitholders through significant distribution figures.
Distribution Details for Unitholders
Unitholders of record as of January 16, 2025, will benefit from a substantial distribution of $2,760,000, translating to $0.240 per unit, which will be payable on January 24, 2025. This distribution reflects the company's strong performance during the recent quarter.
Operational Insights
During this payment period, MV Oil Trust reported robust operational metrics. The volume of oil and gas produced rose to 144,095 barrels of oil equivalent (BOE), marking a significant achievement in productivity. This increase is indicative of the Trust's efficient management and operational strategies.
Average Price and Gross Proceeds
The average price obtained per BOE was reported at $65.89, contributing to gross proceeds of approximately $9,493,787. The pricing environment reflects favorable market conditions and the Trust's ability to capitalize on its production capabilities.
Cost Management and Profit Results
The operational costs during this period totaled $5,752,860. After accounting for these costs, the net profits stood at $3,740,927. This strong performance underlines the effectiveness of the management team's strategic initiatives in maintaining cost efficiency while maximizing output.
Net Profits Interest and Capital Provisions
After considering the percentage applicable to the Trust’s 80% net profits interest, the total cash proceeds available for distribution to the Trust amounts to $2,992,742. Notably, MV Partners has made no allocations for capital expenditures at this time, indicating a potential focus on reinvesting future profits.
Current Estimated Trust Expenses
It's essential to note that the Trust has provisioned for current estimated expenses of $232,742. After factoring in these expenses, the net cash proceeds available for distribution amount to the previously stated $2,760,000. This careful budgeting highlights the Trust's commitment to financial transparency.
Looking Ahead
MV Oil Trust is poised for continued growth and is optimistic about future performance. Management believes that strong operational metrics and an efficient cost structure will support ongoing profitability. The Trust remains committed to delivering value to its unitholders through regular distributions, indicating a healthy outlook.
Frequently Asked Questions
What is the announced distribution for MV Oil Trust?
The announced distribution for MV Oil Trust is $2,760,000 or $0.240 per unit for unitholders of record on January 16, 2025.
When will the distribution be payable?
The distribution is scheduled to be payable on January 24, 2025.
How much volume did MV Oil Trust produce in the latest quarter?
MV Oil Trust produced 144,095 barrels of oil equivalent (BOE) during the quarterly payment period.
What was the average price per BOE?
The average price per BOE was reported at $65.89.
What are the Trust's total cash proceeds available for distribution?
The total cash proceeds available for distribution to the Trust amounted to $2,992,742, before expenses.
