Corporate ActionMay 13, 2026, 04:22 PM
MV Oil Trust to Terminate June 30, 2026; Q1 Distributable Income Down 41.7%
AI Summary
MV Oil Trust announced its net profits interest will terminate on June 30, 2026, leading to the dissolution of the Trust and cancellation of units shortly after a final distribution around July 24, 2026. This follows the achievement of the minimum production threshold. For Q1 2026, distributable income decreased by 41.7% to $1.61 million from $2.76 million in Q1 2025, primarily due to lower income from net profits interest.
Key Highlights
- MV Oil Trust's net profits interest will terminate on June 30, 2026, leading to Trust dissolution.
- Q1 2026 distributable income was $1.61 million, down 41.7% from $2.76 million in Q1 2025.
- Distributions per Trust unit for Q1 2026 were $0.140, compared to $0.240 in Q1 2025.
- Income from net profits interest decreased by $1.16 million to $1.84 million in Q1 2026.
- Average crude oil price for Oct-Dec 2025 was $56.94/Bbl, down from $66.34/Bbl in Oct-Dec 2024.
- Q2 2026 distribution was $1.96 million, or $0.170 per Trust unit, made on April 24, 2026.
- Cash and cash equivalents stood at $1.08 million as of March 31, 2026.