Profile: MV Oil Trust (MVO.N)
24 May 2013
MV Oil Trust (the Trust) 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. As of December 31, 2011, approximately 62% of the net acres included in the underlying properties were located in the El Dorado Area, which is located in southeastern Kansas, and in the Northwest Kansas Area.
El Dorado Area
The properties comprising 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 the Valley Center Fields. The El Dorado Field is located atop the Nemaha Ridge in Central Butler County, Kansas. The primary producing intervals are the Admire, Lansing-Kansas City, Viola, Simpson and Arbuckle. During the year end December 31, 2011, cumulative production of all producers from the El Dorado Field has exceeded 300 million barrels (MMBbls) of oil. The Augusta 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. During 2011, cumulative production of all producers from the Augusta Field has exceeded 48 MMBbls of oil.
The Valley Center Field covers approximately 60 square miles of Sedgwick County, Kansas. Production is primarily from the Viola interval, which is located at an average depth of 2,500 feet. During 2011, cumulative production of all producers from the Valley Center Field has exceeded 25 MMBbls of oil.
Northwest Kansas Area
Each of Vess Oil and Murfin Drilling operate leases on behalf of MV Partners included in the properties comprising 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. The Bemis-Shutts Field is located on the Fairport Anticline within the Central Kansas Uplift. The Bemis-Shutts Field consists of 17,080 acres in northeastern Ellis and southeastern Rooks Counties, Kansas. During 2011, cumulative production of all producers from the Bemis-Shutts Field had exceeded 248 MMBbls of oil. The Trapp Field consists of 35,900 acres in Russell and Barton Counties, Kansas. During 2011, cumulative production of all producers from the Trapp Field has exceeded 239 MMBbls of oil. The Hansen Field is located along the crest of the Stuttgart-Huffstutor Anticline. The Ray Field is located on the eastern flank of the Central Kansas Uplift. The Hansen and Ray Fields consist of over 7,000 acres in Philips and Norton Counties, Kansas.
MV Oil Trust
5TH FLOOR, 919 CONGRESS AVENUE
AUSTIN TX 78701