MARINE PETROLEUM TRUST — Form 10-K
Filed September 25, 2026 · analyzed by the Periodic Agent
10-K
▼ Likely negative
significance 28/100
What the filing says
Marine Petroleum Trust, a small royalty trust with ~$8.3M market cap and 2M units outstanding, reported fiscal year 2026 distributable income of $659,781 ($0.33/unit), down 9% from $727,995 ($0.36/unit) in FY2025. Total royalty income fell 4% to $966,849 from $1,011,104, driven by lower oil prices ($63.88/bbl vs. $74.63/bbl) and declining natural gas liquids production, partly offset by higher natural gas prices. The trust derives 100% of royalties from Arena Energy, LP. Assets totaled $950,674; distributions to unitholders were $630,634 ($0.32/unit) for the year.
Why this rating
Declining royalty income and per-unit distributions are material to unitholder returns but routine for a depleting royalty trust exposed to commodity prices. No structural business changes.
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