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): January 3, 2020
MV Oil Trust
(Exact name of registrant as specified in its charter)
Delaware |
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001-33219 |
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06-6554331 |
(State or other jurisdiction of |
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(Commission File Number) |
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(IRS Employer Identification No.) |
The Bank of New York Mellon Trust Company, N.A., Trustee |
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77002 |
(Address of principal executive offices) |
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(Zip Code) |
Registrants 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 (see General Instruction A.2. below):
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))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
Units of Beneficial Interest |
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MVO |
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The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition.
On January 3, 2020, MV Oil Trust issued a press release announcing the Trust quarterly distribution for the payment period ended December 31, 2019. 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 No. |
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Description |
99.1 |
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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: January 3, 2020 |
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By: |
/s/ Michael J. Ulrich |
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Michael J. Ulrich | |
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Vice President |
MV Oil Trust
MV Oil Trust Announces Trust Fourth Quarter Distribution
MV OIL TRUST
The Bank of New York Mellon Trust Company, N.A., Trustee
NEWS RELEASE
FOR IMMEDIATE RELEASE
Houston, Texas, January 3, 2020 MV Oil Trust (NYSE Symbol MVO) announced the Trust distribution of net profits for the fourth quarterly payment period ended December 31, 2019.
Unitholders of record on January 15, 2020 will receive a distribution amounting to $2,185,000 or $0.190 per unit payable January 24, 2020.
Volumes, average price and net profits for the payment period were:
Volume (BOE) |
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181,804 |
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Average price (per BOE) |
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$ |
51.02 |
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Gross proceeds |
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$ |
9,276,008 |
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Costs |
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$ |
6,243,315 |
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Net profits |
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$ |
3,032,693 |
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Percentage applicable to Trusts 80% |
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Net profits interest |
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$ |
2,426,155 |
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MV Partners reserve for capital expenditures |
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$ |
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Total cash proceeds available for the Trust |
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$ |
2,426,155 |
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Provision for estimated Trust expenses |
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$ |
(241,155 |
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Net cash proceeds available for distribution |
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$ |
2,185,000 |
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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 December 31, 2019. 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 Trusts Form 10-K for the year ended December 31, 2018 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
601 Travis Street, Floor 16, Houston, TX 77002