MV Oil Trust Announces Trust Third Quarter Distribution
October 05 2018 - 4:15PM
Business Wire
MV Oil Trust (NYSE: MVO) announced the Trust distribution of net
profits for the third quarterly payment period ended
September 30, 2018.
Unitholders of record on October 15, 2018 will receive a
distribution amounting to $4,772,500 or $0.415 per unit payable
October 25, 2018.
Volumes, average price and net profits for the payment period
were:
Volume (BOE) 186,192 Average price (per BOE) $ 62.96 Gross
proceeds $ 11,722,532 Costs $ 5,539,747 Net profits $ 6,182,785
Percentage applicable to Trust’s 80% Net profits interest $
4,946,228 MV Partners reserve for capital expenditures $ 0 Total
cash proceeds available for the Trust $ 4,946,228 Provision for
estimated Trust expenses $ (173,728 ) Net cash proceeds available
for distribution $ 4,772,500
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, 2018. 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, 2017 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/20181005005501/en/
MV Oil TrustThe Bank of New York Mellon Trust Company, N.A.,
as TrusteeMichael Ulrich, 512-236-6599
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