Marine Petroleum Trust 8-K, filed Feb 18, 2020
Marine Petroleum Trust (MARPS)
About this 8-K
Marine Petroleum Trust filed this 8-K on February 18, 2020.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
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): February 18, 2020
MARINE PETROLEUM TRUST
(Exact name of registrant as specified in its charter)
| Texas | 000-08565 | 75-6008017 | ||
| (State or other jurisdiction of incorporation) |
(Commission File No.) | (IRS Employer Identification No.) |
| c/o The Corporate Trustee: | ||
| Simmons Bank, | ||
| 2911 Turtle Creek Blvd., Suite 850 | ||
| Dallas, Texas | 75219 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (855) 588-7839
Not Applicable
(Former name or former address, if changed since last report)
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:
| ☐ | 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 | MARPS | NASDAQ Capital Market |
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 7.01 | Regulation FD Disclosure. |
On February 18, 2020, Marine Petroleum Trust issued a press release announcing its quarterly cash distribution to unitholders. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
In accordance with General Instruction B.2. of Form 8-K, the information contained herein shall not be incorporated by reference into any of our filings, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to such filing. The information in this report shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit No. |
Description | |
| 99.1 |
Press Release dated February 18, 2020, issued by Marine Petroleum Trust. | |
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 thereunto duly authorized.
| MARINE PETROLEUM TRUST | ||||||
| Date: February 18, 2020 | By: Simmons Bank, in its capacity as trustee of Marine Petroleum Trust and not in its individual capacity or otherwise | |||||
| By: | /s/ Ron Hooper | |||||
| Ron Hooper | ||||||
| Senior Vice President | ||||||
Exhibit 99.1
Marine Petroleum Trust
News Release
MARINE PETROLEUM TRUST
ANNOUNCES FIRST QUARTER CASH DISTRIBUTION
DALLAS, Texas, February 18, 2020 – Marine Petroleum Trust (NASDAQ: MARPS) (“Marine”) today declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.065452 per unit, payable on March 30, 2020, to unitholders of record on February 28, 2020. Marine’s 2019 tax information, cash distribution history, current and prior year financial reports, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http://www.marps-marine.com/.
This distribution of $0.065452 per unit is higher than the $0.048759 per unit distributed last quarter. As compared to the previous quarter, the volume of both oil and natural gas produced has increased. The price realized for both oil and natural gas produced and included in the current distribution decreased compared to the previous quarter. This distribution is lower than the $0.079880 per unit distributed in the comparable quarter in 2019. As compared to the comparable quarter in 2019, the price realized for both oil and natural gas has decreased. The volume of oil produced and included in the current distribution has decreased while the volume of natural gas has increased compared to this time last year.
Marine’s distributions to unitholders are determined by royalties received up to the date the distribution amount is declared. In general, Marine receives royalties two months after oil production and three months after natural gas production.
* * *
| Contact: | Ron E. Hooper |
SVP, Royalty Trust Services
Simmons Bank, Trustee
Toll Free – 1.855.588-7839