Marine Petro Tr

MARPS NASDAQ
2.230
+0.010
+0.45%
Closed 17:29 06/17 EDT
Open
2.180
Prev Close
2.220
High
2.250
Low
2.160
Volume
6.78K
Avg Vol (3M)
11.46K
52 Week High
4.850
52 Week Low
1.220
% Turnover
0.34%
Market Cap
4.46M
1D
5D
1M
3M
1Y
5Y

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Company Profile

Marine Petroleum Trust (the Trust) is a royalty trust. The Trust is engaged in the administration and liquidation of rights to payments from certain oil and natural gas leases in the Gulf of Mexico, under license agreements and amendments between the Trust's predecessors and Chevron Corporation (Chevron) and its assignees. The Trust distributes all income, after paying its liabilities and obligations, to the unit holders during the months of March, June, September and December each year. The Trust's subsidiary, Marine Petroleum Corporation (MPC), holds title to interests in properties subject to the Trust's interests that are situated offshore of Louisiana. MPC is engaged in the administration and collection of royalties. As of June 30, 2016, MPC held an overriding royalty interest equal to 0.75% of the value at the well of any oil, natural gas, or other minerals produced and sold from the leases. All aspects of MPC's operations are conducted by third parties.
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