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Press release content from Business Wire. The AP news staff was not involved in its creation.
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Press release content from Business Wire. The AP news staff was not involved in its creation.

MV Oil Trust Announces Trust Fourth Quarter Distribution

January 5, 2021 GMT

HOUSTON--(BUSINESS WIRE)--Jan 5, 2021--

MV Oil Trust (NYSE: MVO) announced the Trust distribution of net profits for the fourth quarterly payment period ended December 31, 2020.

Unitholders of record on January 15, 2021 will receive a distribution amounting to $1,265,000 or $0.110 per unit payable January 25, 2021.

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

Volume (BOE)

 

166,749

 

Average price (per BOE)

 

$

35.31

 

Gross proceeds

 

$

5,887,465

 

Costs

 

$

4,229,026

 

Net profits

 

$

1,658,440

 

Percentage applicable to Trust’s 80%

 

 

 

Net profits interest

 

$

1,326,752

 

MV Partners reserve for capital expenditures

 

$

--

 

Total cash proceeds available for the Trust

 

$

1,326,752

 

Provision for estimated Trust expenses

 

$

(61,752

)

Net cash proceeds available for distribution

 

$

1,265,000

 

 

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 December 31, 2020. 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, the effect, impact, potential duration or other implications of the COVID-19 pandemic, the dispute over production levels between Russia and the members of the Organization of Petroleum Exporting Countries, including Saudi Arabia, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the period ended September 30, 2020 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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View source version on businesswire.com:https://www.businesswire.com/news/home/20210105005849/en/

CONTACT: MV Oil Trust

The Bank of New York Mellon Trust Company, N.A., as Trustee

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Michael Ulrich

512-236-6599

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ENERGY OTHER ENERGY OIL/GAS

SOURCE: MV Oil Trust

Copyright Business Wire 2021.

PUB: 01/05/2021 04:05 PM/DISC: 01/05/2021 04:05 PM

http://www.businesswire.com/news/home/20210105005849/en