UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 5, 2016
MV Oil Trust
(Exact name of registrant as specified in its charter)
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Delaware |
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001-33219 |
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06-6554331 |
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(State or other jurisdiction of |
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(Commission |
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(IRS Employer |
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incorporation ) |
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File Number) |
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Identification No.) |
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919 Congress Avenue |
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Austin, Texas |
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78701 |
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(Address of principal executive offices) |
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(Zip Code) |
Registrant’s telephone number, including area code: 1-512-236-6599
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition.
On April 5, 2016, MV Oil Trust issued a press release announcing the Trust quarterly distribution for the payment period ended March 31, 2016. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
Pursuant to General Instruction B.2 of Form 8-K, the press release attached as Exhibit 99.1 is not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing by MV Oil Trust under the Exchange Act or the Securities Act of 1933, as amended, but is instead “furnished” for purposes of that instruction.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit 99.1 MV Oil Trust Press Release dated April 5, 2016.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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MV Oil Trust | |
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By: |
The Bank of New York Mellon Trust Company, N.A., |
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as Trustee |
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Date: April 5, 2016 |
By: |
/s/ Michael Ulrich |
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Michael Ulrich |
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Vice President |
Exhibit 99.1
MV Oil Trust
MV Oil Trust Announces Trust First Quarter Distribution
MV OIL TRUST
The Bank of New York Mellon Trust Company, N.A., Trustee
NEWS RELEASE
FOR IMMEDIATE RELEASE
Austin, Texas, April 5, 2016 — MV Oil Trust (NYSE Symbol — MVO) announced the Trust distribution of net profits for the first quarterly payment period ended March 31, 2016.
Unitholders of record on April 15, 2016 will receive a distribution amounting to $345,000 or $0.03 per unit payable April 25, 2016.
Volumes, average price and net profits for the payment period were:
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Volume (BOE) |
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195,841 |
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Average price (per BOE) |
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$ |
27.60 |
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Gross proceeds |
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$ |
5,404,360 |
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Costs |
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$ |
4,686,237 |
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Net profits |
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$ |
718,123 |
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Percentage applicable to Trust’s 80% |
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Net profits interest |
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$ |
574,498 |
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MV Partners reserve for capital expenditures |
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$ |
0 |
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Total cash proceeds available for the Trust |
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$ |
574,498 |
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Provision for estimated Trust expenses |
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$ |
(229,498 |
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Net cash proceeds available for distribution |
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$ |
345,000 |
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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 March 31, 2016. 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, and other risk factors described in the Trust’s Form 10-K for the year ended December 31, 2015 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.
Contact: MV Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Michael Ulrich
512-236-6599
919 Congress Avenue, Austin, TX 78701