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): August 19, 2014
MARINE PETROLEUM TRUST
(Exact name of registrant as specified in its charter)
Texas | 000-08565 | 75-6008017 | ||
(State or other jurisdiction of incorporation) | (Commission File No.) | (IRS Employer Identification No.) |
c/o The Corporate Trustee: U.S. Trust, Bank of America Private Wealth Management P.O. Box 830650, Dallas, Texas |
75283-0650 | |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (800) 985-0794
Not Applicable
(Former name or former address, if changed since last report)
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:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 Regulation FD Disclosure.
On August 19, 2014, Marine Petroleum Trust issued a press release announcing its quarterly cash distribution to unitholders. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
In accordance with General Instruction B.2. of Form 8-K, the information contained herein shall not be incorporated by reference into any of our filings, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to such filing. The information in this report shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.
Item 9.01 Financial Statements and Exhibits.
(d) | Exhibits. |
Exhibit No. |
Description | |
99.1 | Press Release dated August 19, 2014, issued by Marine Petroleum Trust |
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.
MARINE PETROLEUM TRUST | ||||||
Date: August 19, 2014 | By: U.S. Trust, Bank of America Private Wealth Management, in its capacity as trustee of Marine Petroleum Trust and not in its individual capacity or otherwise | |||||
By: | /s/ Dickerman Sadler | |||||
Dickerman Sadler | ||||||
Managing Director, Oil, Gas and Minerals |
EXHIBIT INDEX
Exhibit No. |
Exhibit | |
99.1 | Press Release dated August 19, 2014, issued by Marine Petroleum Trust |
Exhibit 99.1
Marine Petroleum Trust
MARINE PETROLEUM TRUST
ANNOUNCES THIRD QUARTER CASH DISTRIBUTION
DALLAS, Texas, August 19, 2014 Marine Petroleum Trust (NASDAQ: MARPS) (Marine) today declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.367233 per unit, payable on September 26, 2014, to unitholders of record on August 29, 2014. Marines 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-marinepetroleumtrust.com/. The new toll free customer service number for the trust is 1.855.588.7839.
This distribution of $0.367233 per unit is higher than the $0.296768 per unit distributed last quarter. As compared to the previous quarter, the prices of both natural gas and oil have increased. The volume of oil and natural gas produced and included in the current distribution decreased from the previous quarter. This distribution is slightly higher than the $0.351379 per unit distributed in the comparable quarter in 2013. As compared to the comparable quarter in 2013, the volume of oil produced and included in the current distribution and the prices of both oil and natural gas have increased, while the volume of natural gas produced and included in the current distribution has decreased.
Marines 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.
As previously disclosed, U.S. Trust, Bank of America Private Wealth Management (U.S. Trust) announced its intention to resign as trustee of the Trust. On June 19, 2014, the Special Meeting of Marines unitholders held for the purpose of obtaining approval of the appointment of Southwest Bank as successor trustee of Marine was adjourned without conducting any business due to the lack of the requisite quorum. In accordance with the terms of the Marine Petroleum Trust Indenture dated June 1, 1956, U.S. Trust intends to seek court approval for the appointment of Southwest Bank as successor trustee of Marine.
* * *
Contact: | Dickerman Sadler |
Managing Director |
U.S. Trust, Bank of America Private Wealth Management, Trustee |
Toll Free 1.855.588-7839 |