MARINE PETROLEUM TRUST ANNOUNCES FOURTH QUARTER CASH DISTRIBUTION

Rhea-AI Summary

Marine Petroleum Trust (NASDAQ: MARPS) announced a quarterly cash distribution of $0.244387 per unit, payable on December 28, 2022. This distribution is lower than the previous quarter's $0.261822 but higher than $0.106743 in the same quarter last year. The company noted a decrease in oil and natural gas production volumes, although realized prices for both increased. Distributions are based on royalties received up to the declaration date, with a time lag in receiving royalties from production.

Positive

• Current distribution of $0.244387 per unit is higher than $0.106743 in Q4 2021.
• Realized prices for oil and natural gas increased compared to prior periods.

Negative

• Current distribution is lower than $0.261822 per unit from the previous quarter.
• Decreased volumes of oil and natural gas produced this quarter.

DALLAS, Nov. 18, 2022 /PRNewswire/ -- Marine Petroleum Trust (NASDAQ: MARPS) ("Marine") today declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.244387 per unit, payable on December 28, 2022, to unitholders of record on November 30, 2022. Marine's 2021 tax information, cash distribution history, current and prior year financial reports, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http://www.marps-marine.com/. Additionally, printed reports can be requested and are mailed free of charge.

This distribution of $0.244387 per unit is lower than the $0.261822 per unit distributed last quarter. Volumes of both oil and natural gas produced this quarter decreased while the price realized on both oil and natural gas and included in this distribution have increased. This distribution is higher than the $0.106743 per unit distributed in the comparable quarter in 2021. As compared to the comparable quarter in 2021, the volume of oil produced and the price realized for both oil and natural gas have increased while the volume of natural gas produced and included in the current distribution decreased.

Marine's distributions to unitholders are determined by royalties received up to the date the distribution amount is declared. In general, Marine receives royalties two months after oil production and three months after natural gas production.

Contact:         Ron E. Hooper
                       SVP, Royalty Trust Services
                       Simmons Bank, Trustee
                       Toll Free – 1.855.588-7839

View original content:https://www.prnewswire.com/news-releases/marine-petroleum-trust-announces-fourth-quarter-cash-distribution-301682541.html

SOURCE Marine Petroleum Trust

FAQ

What is the latest cash distribution announced by Marine Petroleum Trust for Q4 2022?

Marine Petroleum Trust announced a cash distribution of $0.244387 per unit for Q4 2022.

When will the cash distribution be paid to unitholders?

The distribution will be paid on December 28, 2022.

How does the current cash distribution compare to previous distributions?

The current distribution is lower than $0.261822 from the previous quarter but higher than $0.106743 from the same quarter last year.

What factors affect Marine Petroleum Trust's cash distributions?

Distributions are determined by royalties received up to the date of declaration, affected by oil and natural gas production volumes.

When did Marine Petroleum Trust declare the cash distribution?

The distribution was declared on November 18, 2022.