MARINE PETROLEUM TRUST

Royalty trust distributing payments from offshore oil & gas leases in the Gulf of Mexico.

MARPS | US

Overview

Corporate Details

ISIN(s):: US5684231070
LEI:
Country:: United States of America
Address:: ARGENT TRUST COMPANY, 75219 DALLAS
Website:: https://www.marps-marine.com/
Sector:: Mining and quarrying
Industry:: Extraction of crude petroleum

Description

Marine Petroleum Trust, established in 1956, is a royalty trust that administers and liquidates rights to payments from overriding royalty interests in specific oil and natural gas leases. The Trust's assets are located in the Gulf of Mexico, offshore Louisiana and Texas. Its primary function is to collect royalty revenues, which are derived from the production of crude oil and natural gas by operators such as Chevron and Elf Exploration. Through its subsidiary, Marine Petroleum Corporation, the Trust distributes substantially all of its net income to the holders of its units of beneficial interest via quarterly cash distributions. The Trust's revenues are subject to factors including production capabilities, commodity prices, and seasonal demand.

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Insider Transactions

Date	Insider Name	Position	Type	Shares	Value
No insider transactions recorded for this company.

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