Profile: MV Oil Trust (MVO.N)
MV Oil Trust (the Trust), incorporated on August 3, 2006, is a statutory trust. The Trust was formed to acquire and hold a term net profits interest for the benefit of the Trust unitholders. MV Partners, LLC (MV Partners) is a limited liability company engaged in the exploration, development, production, gathering and aggregation and sale of oil and natural gas, primarily in the Mid-Continent region in the United States. The term net profits interest is an interest in underlying properties consisting of MV Partner's net interests in all of its oil and natural gas properties located in the Mid-Continent region in the states of Kansas and Colorado. These oil and gas properties include approximately 1,000 producing oil and gas wells. The trust is managed by Bank of New York Mellon Trust Company, N.A. as Trustee. Approximately 62% of the net acres included in the underlying properties are located in the El Dorado Area, which is located in southeastern Kansas, and in the Northwest Kansas Area.
El Dorado Area
The underlying properties located in the El Dorado Area are operated on behalf of MV Partners by Vess Oil and are located in the El Dorado, Augusta and Valley Center Fields. Vess Oil Corporation (Vess Oil) has pursued infill drilling, well re-entries, plugback and deepening recompletion operations, various types of restimulation work and equipment optimization programs to reduce the natural decline in production from these fields. The El Dorado Field is located atop the Nemaha Ridge in Central Butler County, Kansas. Upto 15 horizons have been reported to contain hydrocarbons, ranging from the Admire Sands, at a depth of 650 feet, to the Arbuckle Dolomite, at a depth of 2,500 feet. The primary producing intervals are the Admire, Lansing-Kansas City, Viola, Simpson and Arbuckle. The Augusta Field is similar to the nearby El Dorado Field and strikes northeast parallel to the Nemaha Ridge. The field covers approximately 10 square miles of Butler County, Kansas. The primary producing interval has been the Arbuckle with additional production coming from the Simpson and Lansing-Kansas City intervals. Cumulative production of all producers from the Augusta Field has exceeded 48 million barrels of oil. The Augusta Field is an extension of the El Dorado Field and has similar geological characteristics. The Valley Center Field covers approximately 60 square miles of Sedgwick County, Kansas. Production is from the Viola interval, which is located at an average depth of 2,500 feet. Cumulative production of all producers from the Valley Center Field has exceeded 25 million barrels of oil. The Valley Center Field has similar geological characteristics as the El Dorado Field.
Northwest Kansas Area
Each of Vess Oil and Murfin Drilling Company, Inc. (Murfin Drilling) operate leases on behalf of MV Partners included in the underlying properties that are located in the Northwest Kansas Area. The primary fields in this area are the Bemis-Shutts, Trapp, Ray and Hansen Fields. Vess Oil and Murfin Drilling have pursued polymer treatments, stimulation workovers and recompletion operations to reduce the natural decline in production from these fields. The Bemis-Shutts Field is located on the Fairport Anticline within the Central Kansas Uplift. The field consists of 17,080 acres in northeastern Ellis and southeastern Rooks Counties, Kansas. Production has been from multiple pay zones with the primary formation being the Arbuckle interval at a depth of 3,300 feet and the Lansing-Kansas City interval at a depth of 2,800 feet. Cumulative production of all producers from the Bemis-Shutts Field has exceeded 248 million barrels of oil. The Trapp Field consists of 35,900 acres in Russell and Barton Counties, Kansas. Production has primarily been from the Lansing-Kansas City and Shawnee limestones and the Arbuckle dolomite. Cumulative production of all producers from the Trapp Field has exceeded 239 million barrels of oil. The Hansen Field is located along the crest of the Stuttgart-Huffstutor Anticline. Production from this field has primarily come from the Lansing-Kansas City limestone. Cumulative production of all producers from the Hansen Field has exceeded 9.2 MMBbls of oil. The Ray Field is located on the eastern flank of the Central Kansas Uplift. Production has primarily been from the Arbuckle dolomite and the Gorham sands with additional production from the Lansing-Kansas City interval along the eastern flank of the field. Cumulative production of all producers from the Ray Field has exceeded 18 million barrels of oil. The Hansen and Ray Fields consist of over 7,000 acres in Philips and Norton Counties, Kansas. Murfin Drilling operates the leases held by MV Partners in the Trapp, Hansen and Ray Fields.
MV Oil Trust
5TH FLOOR, 919 CONGRESS AVENUE
AUSTIN TX 78701