Marine Petroleum Trust (MARPS) has seen a decrease of 14.84% in the premarket. However, the last trading session closed at $5.39 with an increase of 4.78%.
Fourth Quarter Cash Distribution – Latest News
On 19th November 2021, MARPS announced a $0.106743 per unit quarterly cash dividend to its beneficiary interest unitholders. Marine typically receives royalties two months after the start of oil production and three months after the start of natural gas production. This quarter’s dividend of $0.106743 per unit is greater than last quarter’s $0.064312 per unit. The volume of oil and natural gas generated included within this distribution has increased in comparison to the previous quarter. Last but not the least, this quarter, the realized price for oil produced and included in current distribution climbed, but the realized price for natural gas declined.
Third Quarter Cash Distribution – What’s up?
On 20th August 2021, MARPS stated the quarterly cash dividend of $0.064312 per unit to unitholders of equitable interests. This quarter’s dividend of $0.064312 per unit is more than last quarter’s $0.028228 per unit. Moreover, the volume of oil and natural gas produced and included in this distribution has improved in comparison to the previous quarter.
This quarter, the price of oil and natural gas generated and included in the current distribution increased. This is a greater payout than the $0.044516 per unit paid out in the same quarter of 2020. The price realized for both oil and natural gas has risen compared to the same period in 2020. The volume of oil and natural gas generated and included in the current distribution has reduced when compared to the same period last year.
About MARPS
Marine Petroleum Trust is a royalty trust that was established in 1956 under Texas law. Marine was formed with the sole aim of administering and liquidating rights to revenues from certain oil and natural gas licenses in the Gulf of Mexico. This is done in accordance with license agreements and revisions between Marine’s successors and Gulf Oil Corporation. Chevron Corporation, Elf Exploration, Inc, and their affiliated companies now own the Gulf interests.
The Trust receives 98% of all oil, natural gas, and other mineral royalties collected by Marine Petroleum Corporation, minus the cost of receiving and collecting. Oil accounts for around 60% of Marine’s royalty revenue, while natural gas accounts for about 40%. Marine’s royalty revenues are influenced by a variety of factors, including the wells’ production capacities, seasonal demand swings, and changes in the market price for oil and natural gas.
