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MV Oil Trust(MVO) - 2024 Q2 - Quarterly Report
2024-08-09 20:15
Financial Performance - The Trust's income from net profits interest decreased by $370,137 to $4,019,362 for the quarter ended June 30, 2024, compared to $4,389,499 for the same quarter in 2023[27] - Distributable income for the quarter ended June 30, 2024 was $3,795,000, a decrease of $172,500 from $3,967,500 for the same quarter in 2023[27] - The Trust's income from net profits interest increased by $2,617 to $9,578,418 for the six months ended June 30, 2024, compared to $9,575,800 for the same period in 2023[30] - Distributable income for the six months ended June 30, 2024 was $9,142,500, an increase of $460,000 from $8,682,500 for the same period in 2023[30] Oil Production and Pricing - The average price received for crude oil sold was $70.25 per Bbl for the period from January 1, 2024 through March 31, 2024, compared to $73.03 per Bbl for the same period in 2023[29] - Total production sales volumes for the period from January 1, 2024 through March 31, 2024 were 117,289 barrels of oil equivalent, a slight decrease from 118,377 barrels of oil equivalent for the same period in 2023[29] - The average price received for crude oil sold was $75.29 per Bbl for the period from October 1, 2023 through March 31, 2024, compared to $76.95 per Bbl for the same period in 2023[31] - Total production sales volumes for the period from October 1, 2023 through March 31, 2024 were 240,838 barrels of oil equivalent, down from 243,801 barrels of oil equivalent for the same period in 2023[32] Trust Operations and Future Outlook - As of June 30, 2024, the Trustee held $1,258,935 in cash and cash equivalents as a reserve for future expenses[34] - The Trust is set to terminate its net profits interest on June 30, 2026, after which it is anticipated to make a final cash distribution to unitholders[43] - The Trust may sell the net profits interest if annual cash proceeds from underlying properties are less than $1.0 million for two consecutive years[45] - The Trust is expected to wind up its affairs and terminate shortly after June 30, 2026, with a final quarterly cash distribution anticipated shortly after this date[46] - Following the termination of the net profits interest, Trust unitholders will not receive any net proceeds from the sale of production from underlying properties, leading to a market price approaching zero[46] Governance and Compliance - No officers or employees of the Trustee adopted or modified any Rule 10b5-1 trading arrangements during the three months ended June 30, 2024[47] - The Trust has no principal executive officer or board of directors, and the Trustee does not imply any such functions exist under the Trust Agreement[51]
MV Oil Trust(MVO) - 2024 Q2 - Quarterly Results
2024-07-05 20:15
Financial Distribution - MV Oil Trust announced its quarterly distribution for the payment period ended June 30, 2024[2]. - The press release was issued on July 5, 2024, detailing the financial results[9]. Regulatory Compliance - The report is not filed under the Securities Exchange Act but is furnished for informational purposes[8]. - The financial condition and results of operations were reported in compliance with the Securities Exchange Act of 1934[11]. - The Trust is not classified as an emerging growth company[7]. Trust Information - The Trust is registered under the trading symbol MVO on the New York Stock Exchange[10]. - The Bank of New York Mellon Trust Company serves as the Trustee for MV Oil Trust[4]. - The Trust's registration includes an IRS Employer Identification Number of 06-6554331[6]. - The report was signed by Elaina C. Rodgers, Vice President of the Trust[4]. - The document includes a contact number for the registrant: 1-713-483-6020[10].
MV Oil Trust(MVO) - 2024 Q1 - Quarterly Report
2024-05-08 20:13
Financial Performance - Distributable income for Q1 2024 was $5,347,500, an increase of 13.4% from $4,715,000 in Q1 2023[9] - Income from net profits interest for Q1 2024 was $5,559,056, up 7.2% from $5,186,301 in Q1 2023[27] - Cash distributions per Trust unit increased to $0.465 in Q1 2024 from $0.410 in Q1 2023, representing a 13.4% increase[9] - The first quarterly distribution in 2024 was $5,347,500, made on January 25, 2024, compared to $4,715,000 in the same period of 2023[33] - The second quarterly distribution in 2024 was $3,795,000, or $0.33 per Trust unit, made on April 25, 2024[36] - The Trust's income from net profits interest increased by $372,755 to $5,559,056 for the quarter ended March 31, 2024, compared to $5,186,301 for the same quarter in 2023[39] - Distributable income for the quarter ended March 31, 2024, was $5,347,500, an increase of $632,500 from $4,715,000 for the quarter ended March 31, 2023[39] Asset Management - Total assets decreased to $4,940,153 as of March 31, 2024, down from $5,456,085 as of December 31, 2023, a decline of 9.4%[11] - Trust corpus at the end of Q1 2024 was $4,940,153, down from $6,597,502 at the end of Q1 2023, a decrease of 25.2%[13] - Cash and cash equivalents as of March 31, 2024, were $1,160,776, down from $1,263,932 as of December 31, 2023, a decrease of 8.2%[11] - As of March 31, 2024, the Trustee held $1,160,776 in cash and cash equivalents[43] Capital Expenditures - The Trust's reserve balance for future capital expenditures remained at $1,000,000 as of March 31, 2024[29] - MV Partners established a capital reserve of $1,000,000 as of March 31, 2024, to mitigate the impact of uneven capital expenditure timing[47] Production and Sales - The average price received for crude oil sold was $80.07 per Bbl for the period from October 1, 2023, through December 31, 2023, compared to $80.66 per Bbl for the same period in 2022[40] - Overall production sales volumes for oil and gas during the period from October 1, 2023, through December 31, 2023, were 122,548 Bbls of oil and 5,977 Mcf of natural gas, totaling 123,548 barrels of oil equivalent[41] Expenses and Borrowing - The Trust's administrative expenses for the quarter ended March 31, 2024, were $314,712, compared to $332,503 for the same quarter in 2023[39] - The Trust has not borrowed funds during the three months ended March 31, 2024, and 2023, to cover expenses[44] - The Trust's only use of cash, aside from administrative expenses, is for distributions to Trust unitholders[42] - The Trustee may adjust the targeted amount of cash reserves at any time without advance notice to unitholders[43]
MV Oil Trust(MVO) - 2024 Q1 - Quarterly Results
2024-04-05 20:16
Distribution Announcement - MV Oil Trust announced its quarterly distribution for the payment period ended March 31, 2024[5] - The press release regarding the quarterly distribution was issued on April 5, 2024[8] Financial Reporting - The Trust's financial results and operational performance details are included in the press release[5] - The document indicates that the press release is not filed but furnished for informational purposes[6] - The filing is in compliance with the Securities Exchange Act of 1934[10] - No specific financial figures or performance metrics were disclosed in the provided content[5] Company Information - The Trust is listed on The New York Stock Exchange under the trading symbol MVO[3] - The report was signed by Elaina C. Rodgers, Vice President of The Bank of New York Mellon Trust Company, N.A.[11] - The Trust is not classified as an emerging growth company[4] - There are no indications of new products, technologies, or market expansions mentioned in the content[5]
MV Oil Trust(MVO) - 2023 Q4 - Annual Report
2024-03-20 20:15
TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-33219 MV OIL TRUST (Exact name of registrant as specified in its charter) | Delaware | | --- | | (State or other juri ...
MV Oil Trust(MVO) - 2023 Q3 - Quarterly Report
2023-11-09 21:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended September 30, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to Commission File Number: 001-33219 MV OIL TRUST (Exact name of registrant as specified in its charter) Delaware 06-6554331 (State or other jurisdiction of incorpor ...
MV Oil Trust(MVO) - 2023 Q2 - Quarterly Report
2023-08-10 20:11
for the quarterly period ended June 30, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 MV OIL TRUST (Exact name of registrant as specified in its charter) Delaware 06-6554331 (State or other jurisdiction of incorporation or organization) The Bank of New York Mellon Trust Company, N.A., T ...
MV Oil Trust(MVO) - 2023 Q1 - Quarterly Report
2023-05-11 20:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended March 31, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to Commission File Number: 001-33219 MV OIL TRUST Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of ...
MV Oil Trust(MVO) - 2022 Q4 - Annual Report
2023-03-16 20:17
TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-33219 MV OIL TRUST (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incor ...
MV Oil Trust(MVO) - 2022 Q3 - Quarterly Report
2022-11-10 21:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended September 30, 2022 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to Commission File Number: 001-33219 MV OIL TRUST (Exact name of registrant as specified in its charter) Delaware 06-6554331 (State or other jurisdiction of incorpor ...