MV Oil Trust (MVO, Financial) filed Quarterly Report for the period ended 2012-03-31.
Mv Oil Trust has a market cap of $477.3 million; its shares were traded at around $39.2556 with a P/E ratio of 13.2 and P/S ratio of 11.8. The dividend yield of Mv Oil Trust stocks is 9.8%.
Excess of revenues over direct operating expenses and lease equipment and development costs from the underlying properties increased $3,073,105 to $15,176,629 for the period from January 1, 2012 through March 31, 2012 from $12,103,524 for the period from January 1, 2011 through March 31, 2011. Such increase was primarily attributable to increases in realized prices for crude oil sold. The Trust's net profits interest (80%) of these totals were $12,141,303 and $9,682,819, respectively, which was decreased by a Trust holdback for future expenses of $161,303 for the quarter ending June 30, 2012 and $252,819 for the quarter ended June 30, 2011, resulting in distributable income of $11,730,000 and $9,430,000 for the quarters ending June 30, 2012 and 2011, respectively.
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Mv Oil Trust has a market cap of $477.3 million; its shares were traded at around $39.2556 with a P/E ratio of 13.2 and P/S ratio of 11.8. The dividend yield of Mv Oil Trust stocks is 9.8%.
Highlight of Business Operations:
The cash received by the Trust from MV Partners during the quarter ended March 31, 2012 substantially represents the production by MV Partners from September 2011 through November 2011. The cash received by the Trust during the quarter ended March 31, 2011 substantially represents the production by MV Partners from September 2010 through November 2010. The revenues from oil production are typically received by MV Partners one month after production. Excess of revenues over direct operating expenses and lease equipment and development costs from the underlying properties increased $3,079,257 to $12,068,160 for the three months ended December 31, 2011 from $8,988,903 for the three months ended December 31, 2010. Included in these amounts are payments to settle hedges totaling $0 during the three months ended December 31, 2011 and $2,484,850 during the three months ended December 31, 2010, which resulted in a total cash receipts over cash disbursements of $12,068,160 and $8,988,903, respectively. The Trust's net profits interest (80%) of these totals are $9,654,528 and $7,191,122, respectively. MV Partners released no funds reserved for future capital expenditures during the three months ended March 31, 2012 and $750,000 for the three months ended March 31, 2011, which resulted in total cash proceeds received by the Trust of $9,654,528 and $7,941,122 for the three months ended March 31, 2012 and 2011, respectively. The cash proceeds received by the Trust for the three months ended March 31, 2011 also included 80% of the $1,274,477 payment received by MV Partners in the fourth quarter of 2010 in connection with the SemGroup bankruptcy. See "Other Events."Excess of revenues over direct operating expenses and lease equipment and development costs from the underlying properties increased $3,073,105 to $15,176,629 for the period from January 1, 2012 through March 31, 2012 from $12,103,524 for the period from January 1, 2011 through March 31, 2011. Such increase was primarily attributable to increases in realized prices for crude oil sold. The Trust's net profits interest (80%) of these totals were $12,141,303 and $9,682,819, respectively, which was decreased by a Trust holdback for future expenses of $161,303 for the quarter ending June 30, 2012 and $252,819 for the quarter ended June 30, 2011, resulting in distributable income of $11,730,000 and $9,430,000 for the quarters ending June 30, 2012 and 2011, respectively.
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