Marine Petroleum Trust Files Q3 2025 Report

TL;DR

**MARPS Q3 2025 filing is IN. Check NASDAQ for updates.**

AI Summary

Marine Petroleum Trust filed its quarterly report for the period ended September 30, 2025. The trust, registered under commission file number 000-08565, is incorporated in Texas and has its principal executive offices located at 3838 Oak Lawn Ave, Suite 1720, Dallas, Texas. Its Units of Beneficial Interest trade on the NASDAQ Capital Market under the symbol MARPS.

Why It Matters

This filing provides investors with an update on the financial performance and operational status of Marine Petroleum Trust for the third quarter of 2025.

Risk Assessment

Risk Level: low — This is a routine quarterly filing and does not appear to contain any immediate red flags or significant negative developments.

Key Players & Entities

• Marine Petroleum Trust (company) — Registrant
• September 30, 2025 (date) — Quarterly period end date
• 000-08565 (other) — Commission File Number
• Texas (location) — State of incorporation
• Argent Trust Company (company) — Corporate Trustee
• 3838 Oak Lawn Ave, Suite 1720, Dallas, Texas 75219-4518 (location) — Principal executive offices address
• (855) 588-7839 (phone_number) — Registrant's telephone number
• MARPS (ticker) — Trading Symbol for Units of Beneficial Interest
• NASDAQ Capital Market (exchange) — Exchange where Units of Beneficial Interest are registered

FAQ

Key Financial Figures

• $84,500 — ree months ended September 30, 2025 was $84,500. As stated under “Note 1. Acco
• $0.07 — ree months ended September 30, 2025 was $0.07 as compared to $0.12 for the comparable
• $0.12 — ember 30, 2025 was $0.07 as compared to $0.12 for the comparable period in 2024. Dist
• $0.09 — 2025, a decrease from distributions of $0.09 per unit for the comparable period in 2
• $63.52 — age price realized for oil decreased to $63.52 per barrel (bbl) as compared to the pri
• $81.11 — arrel (bbl) as compared to the price of $81.11 per bbl realized for the comparable per
• $3.14 — ural gas (net of expenses) increased to $3.14 per mcf as compared to the average pric
• $3.02 — mcf as compared to the average price of $3.02 per mcf realized for the comparable per
• $0.38 — liquids (net of expenses) decreased to $0.38 per mcf as compared to the average pric
• $0.75 — mcf as compared to the average price of $0.75 per mcf realized for the comparable per
• $218,526 — and natural gas royalties decreased to $218,526 during the three months ended September
• $286,498 — ee months ended September 30, 2025 from $286,498 realized for the comparable period in 2
• $130,813 — ng. Distributable income decreased to $130,813 for the three months ended September 30
• $233,552 — ee months ended September 30, 2025 from $233,552 realized for the comparable period in 2
• $204,913 — s ended September 30, 2025 decreased to $204,913 from $264,786 realized for the comparab

Filing Documents

• marps_10-q_2025-09-30.htm (10-Q) — 293KB
• marps-ex31_1.htm (EX-31.1) — 15KB
• marps-ex32_1.htm (EX-32.1) — 8KB
• 0001193125-25-279240.txt ( ) — 317KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 1 Condensed Consolidated Statements of Assets, Liabilities and Trust Corpus as of September 30, 2025 and June 30, 2025 1 Condensed Consolidated Statements of Distributable Income for the three months ended September 30, 2025 and 2024 2 Condensed Consolidated Statements of Changes in the Trust Corpus for the three months ended September 30, 2025 and 2024 3 Notes to Condensed Consolidated Financial Statements 4

Trustee’s Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Trustee’s Discussion and Analysis of Financial Condition and Results of Operations 5

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 9

Controls and Procedures

Item 4. Controls and Procedures 10

OTHER INFORMATION

PART II. OTHER INFORMATION

Risk Factors

Item 1A. Risk Factors 11

Exhibits

Item 6. Exhibits 11 Table of Contents

FINAN CIAL INFORMATION

PART I. FINAN CIAL INFORMATION

Fina ncial Statements

Item 1. Fina ncial Statements MARINE PETROLEUM TRUST AND SUBSIDIARY CONDENSED CONSOLIDATED STATE MENTS OF ASSETS, LIABILITIES AND TRUST CORPUS As of September 30, 2025 and June 30, 2025 ASSETS September 30, 2025 June 30, 2025 (Unaudited) Current assets: Cash and cash equivalents $ 916,139 $ 921,520 Federal income tax refundable — — Producing oil and natural gas properties 7 7 Total assets $ 916,146 $ 921,527 LIABILITIES AND TRUST CORPUS Current liabilities: Federal income tax payable $ — $ — Total current liabilities $ — $ — Trust corpus – 2,000,000 units of beneficial interest authorized, 2,000,000 units issued at nominal value $ 916,146 $ 921,527 $ 916,146 $ 921,527 See accompanying notes to condensed consolidated financial statements. 1 Table of Contents MARINE PETROLEUM TRUST AND SUBSIDIARY CONDENSED CONSOLIDATED STATE MENTS OF DISTRIBUTABLE INCOME For the Three Months Ended September 30, 2025 and 2024 (Unaudited) Three Months Ended September 30, 2025 2024 Income: Oil and natural gas royalties $ 218,526 $ 286,498 Interest and dividend income 4,876 15,694 Total income 223,402 302,192 Expenses: General and administrative (92,589 ) (68,640 ) Distributable income $ 130,813 $ 233,552 Distributable income per unit $ 0.07 $ 0.12 Units outstanding 2,000,000 2,000,000 See accompanying notes to condensed consolidated financial statements. 2 Table of Contents MARINE PETROLEUM TRUST AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN TRUST CORPUS For the Three Months Ended September 30, 2025 and 2024 (Unaudited) Three Months Ended September 30, 2025 2024 Trust corpus, beginning of period $ 921,527 $ 965,220 Distributable income 130,813 233,552 Distributions to unitholders (136,194 ) (189,772 ) Trust

Trustee’ s Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Trustee’ s Discussion and Analysis of Financial Condition and Results of Operations Organization The Trust is a royalty trust that was created in 1956 under the laws of the State of Texas. Effective February 20, 2018, Simmons Bank (“Simmons”) became corporate trustee of the Trust as a result of a merger between Simmons and Southwest Bank, the former corporate trustee of the Trust. On November 4, 2021, Simmons announced that it had entered into an agreement with Argent Trust Company, pursuant to which Simmons would resign as trustee of the Trust and nominate Argent Trust Company as successor trustee of the Trust. The change in trustee from Simmons to Argent Trust Company was effective on December 30, 2022. The defined term “Trustee” as used herein shall refer to Southwest Bank for periods from 2014 through February 19, 2018, shall refer to Simmons for periods on and after February 20, 2018 through December 29, 2022, and shall refer to Argent Trust Company for periods on and after December 30, 2022. The Trust’s Indenture provides that the term of the Trust will expire on June 1, 2041, unless extended by the vote of the holders of a majority of the outstanding units of beneficial interest. The Trust is not permitted to engage in any business activity because it was organized for the sole purpose of providing an efficient, orderly and practical means for the administration and liquidation of rights to payments from certain oil and natural gas leases in the Gulf of America (formerly known as the Gulf of Mexico), pursuant to license agreements and amendments between the Trust’s predecessors and Gulf Oil Corporation (“Gulf”). As a result of various transactions that have occurred since 1956, these interests were largely held by Chevron Corporation (“Chevron”) and are now predominantly held by its assignees, including Arena Energy, LP (collectively with Chevron and its assignees,

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View this 10-Q filing on SEC EDGAR