Marine Petroleum Trust operates as a royalty trust. The company, through its wholly-owned subsidiary, Marine Petroleum Corporation, holds title to interests in properties subject to the company’s interests that are situated offshore of Louisiana. The company holds an overriding royalty interest equal to three-fourths of 1% of the value at the well of any oil, natural gas, or other minerals produced and sold from the leases. It also owns a 32.6% interest in Tidelands Royalty Trust “B” Corporation (Tidelands), a separate Texas trust, which owns interests in 4 leases covering an aggregate of 17,188 gross acres. As of September 3, 2013, the company had an overriding royalty interest (including its interest in Tidelands) in 59 different oil and natural gas leases covering an aggregate of 217,056 gross acres. These leases are located in the Central and Western areas of the Gulf of Mexico off the coasts of Louisiana and Texas. Customers The company’s customers include Chevron USA, Inc.; Century Exploration Company; Walter Oil & Gas Corporation; Anglo Suisse Offshore Partners LLP; Apache Corporation; Energy XXI GOM LLC; McMoran Oil & Gas LLC; and others. Tidelands receives royalty from Black Elk Energy Offshore Operations, LLC; Devon Energy Production Company LP; Apache Corporation; W&T Offshore, Inc.; and JX Nippon Oil & Gas Exploration Corp. History Marine Petroleum Trust was founded in 1956 under the laws of the state of Texas.
marine petroleum trust (MARPS:NASDAQ CM)
U.S. Trust, Bank Of America Private Wealth Management
PO Box 830650
Dallas, TX 75283-0650
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To contact MARINE PETROLEUM TRUST, please visit www.marps-marinepetroleumtrust.com. Company data is provided by Capital IQ. Please use this form to report any data issues.