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Mv Oil Trust (MVO) SEC Filing 8-K Material Event for the period ending Tuesday, January 5, 2021

Mv Oil Trust

CIK: 1371782 Ticker: MVO

 

Exhibit 99.1

 

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 5, 2021 — MV Oil Trust (NYSE: MVO) announced the Trust distribution of net profits for the fourth quarterly payment period ended December 31, 2020.

 

Unitholders of record on January 15, 2021 will receive a distribution amounting to $1,265,000 or $0.110 per unit payable January 25, 2021.

 

Volumes, average price and net profits for the payment period were:

 

Volume (BOE)   166,749 
Average price (per BOE)  $35.31 
Gross proceeds  $5,887,465 
Costs  $4,229,026 
Net profits  $1,658,440 
Percentage applicable to Trust’s 80%     
Net profits interest  $1,326,752 
MV Partners reserve for capital expenditures  $-- 
Total cash proceeds available for the Trust  $1,326,752 
Provision for estimated Trust expenses  $(61,752) 
Net cash proceeds available for distribution  $1,265,000 

 

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, 2020. 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, the effect, impact, potential duration or other implications of the COVID-19 pandemic, the dispute over production levels between Russia and the members of the Organization of Petroleum Exporting Countries, including Saudi Arabia, and other risk factors described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the period ended September 30, 2020 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

 

 

 

 

 

 

 

 

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 5, 2021

 

MV Oil Trust

(Exact name of registrant as specified in its charter)

 

Delaware 001-33219 06-6554331
(State or other jurisdiction of
incorporation)
(Commission File Number) (IRS Employer Identification No.)

 

The Bank of New York Mellon Trust Company, N.A., Trustee
Global Corporate Trust
601 Travis Street, Floor 16
Houston, Texas

77002
(Address of principal executive offices) (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 (see General Instruction A.2. below):

 

¨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))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
Units of Beneficial Interest MVO 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  ¨

 

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.¨

 

 

 

 

 

Item 2.02Results of Operations and Financial Condition.

 

On January 5, 2021, MV Oil Trust issued a press release announcing the Trust quarterly distribution for the payment period ended December 31, 2020. 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 9.01Financial Statements and Exhibits.

 

 

(d)       Exhibits.

 

Exhibit No. Description
   
99.1 MV Oil Trust Press Release issued January 5, 2021.

 

 

 

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.

 

  MV Oil Trust
   
  By: The Bank of New York Mellon Trust Company, N.A.,
as Trustee

 

   
   
Date: January 5, 2021   By: /s/ Michael J. Ulrich
    Michael J. Ulrich
    Vice President

 

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Mv Oil Trust provided additional information to their SEC Filing as exhibits

Ticker: MVO
CIK: 1371782
Form Type: 8-K Corporate News
Accession Number: 0001104659-21-000908
Submitted to the SEC: Tue Jan 05 2021 4:05:42 PM EST
Accepted by the SEC: Tue Jan 05 2021
Period: Tuesday, January 5, 2021
Industry: Crude Petroleum And Natural Gas
Events:
  1. Earnings Release
  2. Financial Exhibit

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