Marine Petroleum Trust Announces Third Quarter Cash Distribution

Rhea-AI Summary

Marine Petroleum Trust (NASDAQ: MARPS) announced a quarterly cash distribution of $0.044516 per unit, set for payment on September 28, 2020, to unitholders of record by August 31, 2020. This distribution reflects a decrease from $0.103781 per unit in the previous quarter and $0.085500 in the same quarter of 2019. While oil production volume has increased, natural gas production has decreased, with both commodities' prices falling compared to prior periods. Distribution amounts depend on royalties received related to oil and natural gas production.

Positive

• Increased volume of oil produced included in the distribution.
• Availability of comprehensive tax information and financial reports on the company's website.

Negative

• Current distribution of $0.044516 per unit is lower than previous quarter ($0.103781) and previous year ($0.085500).
• Decreased realized prices for both oil and natural gas compared to last quarter.
• Decreased volume of natural gas produced included in the distribution.

DALLAS, Aug. 21, 2020 /PRNewswire/ -- Marine Petroleum Trust (NASDAQ: MARPS) ("Marine") today declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.044516 per unit, payable on September 28, 2020, to unitholders of record on August 31, 2020.  Marine's 2019 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 $0.044516 per unit is lower than the $0.103781 per unit distributed last quarter. As compared to the previous quarter, the volume of oil produced and included in this distribution has increased while the volume of natural gas produced has decreased. The price realized for both oil and natural gas produced and included in the current distribution has decreased compared to the previous quarter.  This distribution is lower than the $0.085500 per unit distributed in the comparable quarter in 2019.  As compared to the comparable quarter in 2019, the price realized for both oil and natural gas has decreased.  As compared to this time last year, the volume of oil produced and included in the current distribution has increased while the volume of natural gas produced and included has 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

 

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SOURCE Marine Petroleum Trust

FAQ

What is the cash distribution declared by Marine Petroleum Trust for Q3 2020?

Marine Petroleum Trust declared a cash distribution of $0.044516 per unit for Q3 2020.

When will the distribution from Marine Petroleum Trust be paid?

The distribution will be paid on September 28, 2020.

How does the current distribution compare to previous quarters for Marine Petroleum Trust?

The current distribution is lower than $0.103781 in the previous quarter and $0.085500 in the same quarter last year.

What factors influenced the cash distribution of Marine Petroleum Trust?

The distribution is influenced by the increase in oil production volume and decrease in natural gas production volume, along with falling prices for both commodities.

How can unitholders access Marine Petroleum Trust's financial reports?

Unitholders can access financial reports and tax information on Marine Petroleum Trust's website.