MARPS
- Marine Petroleum Trust
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Overview
Company Summary
Marine Petroleum Trust (MARPS) is a company that operates as a royalty trust in the energy sector. Its primary focus is on collecting and distributing royalty payments from oil and gas production activities.
MARPS holds overriding royalty interests in certain offshore oil and natural gas properties located in the Gulf of Mexico. These properties are operated by a group of well-established oil and gas exploration and production companies.
As a royalty trust, MARPS does not engage in direct exploration or drilling operations. Instead, it acts as a passive entity that receives a percentage of the production revenue generated from the properties it holds interests in. These revenues come from the sale of oil and natural gas extracted from the properties.
Once the revenue is received, Marine Petroleum Trust calculates and distributes a portion of this income to its unit holders. These unit holders are individuals or entities who own units of the trust, which entitle them to a share of the royalty payments.
Marine Petroleum Trust's primary responsibility is to diligently collect and manage these royalty payments, ensuring accurate calculations and timely distribution to its unit holders. The company also handles administrative tasks related to owning and managing royalty interests, such as monitoring production volumes, verifying financial statements, and conducting audits.
In summary, Marine Petroleum Trust is a company that operates as a royalty trust, collecting and distributing royalty payments received from oil and gas production activities in the Gulf of Mexico.