MV Oil Trust(US:MVO)2025-11-10 21:15Financial Performance - For the three months ended September 30, 2025, the distributable income was $2,127,500, a decrease of 54.9% compared to $4,715,000 for the same period in 2024[7] - Income from net profits interest for the three months ended September 30, 2025, was $2,359,674, down 52.3% from $4,949,064 in 2024[26] - Distributable income for the quarter ended September 30, 2025 was $2,127,500, a decrease of $2,587,500 from $4,715,000 for the quarter ended September 30, 2024[42] - For the nine months ended September 30, 2025, the Trust's income from net profits interest decreased by $5,795,063 to $8,732,419 from $14,527,482 for the same period in 2024[45] Assets and Liabilities - The total assets as of September 30, 2025, were $2,581,918, down from $3,865,849 as of December 31, 2024, representing a decline of 33.2%[9] - The Trust corpus at the end of the period was $2,581,918, a decrease of 34.5% from $4,241,142 at the end of the previous year[11] - The Trust's cash and cash equivalents as of September 30, 2025, were $1,147,561, down from $1,281,396 as of December 31, 2024, indicating a decrease of 10.4%[9] Cash Distributions - Cash distributions per Trust unit for the nine months ended September 30, 2025, were $0.700, compared to $1.2050 for the same period in 2024, reflecting a decrease of 41.9%[7] Production and Sales - The average price received for crude oil sold was $60.01 per Bbl for the period from April 1, 2025 through June 30, 2025, compared to $77.13 per Bbl for the same period in 2024[43] - Total production sales volumes attributable to the net profits interest for the period from April 1, 2025 through June 30, 2025 were 116,021 barrels of oil equivalent, down from 120,912 barrels for the same period in 2024[44] - The average price received for natural gas sold was $2.51 per Mcf for the period from October 1, 2024 through June 30, 2025, compared to $2.31 per Mcf for the same period in 2024[46] Trust Operations - The Trust has received payment for 80% of the net proceeds from the sale of 15.1 million barrels of oil equivalent since inception, with a termination date set for June 30, 2026[16] - The Trust's net profits interest will terminate on June 30, 2026, as the minimum production amount of 14.4 MMBoe has been produced and sold[41] - MV Partners has provided a letter of credit in the amount of $1.8 million to the Trustee to protect against insufficient cash to pay future expenses[50] Internal Controls and Compliance - The Trust's disclosure controls and procedures are effective as evaluated by the Trustee[57] - There were no material changes in the Trust's internal control over financial reporting during the quarter ended September 30, 2025[59] - The Trust relies on information provided by MV Partners regarding historical operating data and future plans[58] - No material changes have occurred in the risk factors previously disclosed in the Trust's Form 10-K[61] - No officers or employees adopted or modified any Rule 10b5-1 trading arrangements during the three months ended September 30, 2025[62] Expenses - General and administrative expenses for the nine months ended September 30, 2025, totaled $816,254, an increase of 20.8% compared to $676,320 in 2024[7] - The Trust's investment in net profits interest remained constant at $50,383,675 as of September 30, 2025, compared to December 31, 2024[9]