5 unchanged sentences
Elaina Rodgers, as Trust Officer of the Trustee, has concluded that the disclosure controls and procedures of the Trust are effective.
−Removed: Due to the contractual arrangements of (i) the trust agreement and (ii) the conveyance of the net profits interest, the trustee relies on (A) information provided by MV Partners, including historical operating data, plans for future operating and capital expenditures, reserve information and information relating to projected production, and (B) conclusions and reports regarding reserves by the trust’s independent reserve engineers.
+Added: Due to the contractual arrangements of (i) the Trust Agreement and (ii) the Conveyance, the Trustee relies on (A) information provided by MV Partners, including historical operating data, plans for future operating and capital expenditures, reserve information and information relating to projected production, and (B) conclusions and reports regarding reserves by the Trust’s independent reserve engineers.
See “Item 1A.
Risk Factors — The Trust and the public Trust unitholders have no voting or managerial rights with respect to MV Partners, the operator of the underlying properties.
−Removed: As a result, public
−Removed: TABLE OF CONTENTS
−Removed: trust unitholders have no ability to influence the operation of the underlying properties” in this Form 10-K, and “Item 7.
+Added: As a result, public Trust unitholders have no ability to influence the operation of the underlying properties” in this Form 10-K, and “Item 7.
Trustee’s Discussion and Analysis of Financial Condition and Results of Operations” for a description of certain risks relating to these arrangements and reliance on information when reported by MV Partners to the Trustee and recorded in the Trust’s results of operations.
8 unchanged sentences
Other Information.
+Added: Rule 10b5-1 Trading Plans.
+Added: During the three months ended December 31, 2023, no officer or employee of the Trustee who performs policy-making functions for the Trust adopted, modified, or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement, as such terms are defined in Item 408(a) of Regulation S-K.
+Added: TABLE OF CONTENTS
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.
8 unchanged sentences
The Trust does not have a principal executive officer, principal financial officer, principal accounting officer or controller and, therefore, has not adopted a code of ethics applicable to such persons.
−Removed: However, employees of the trustee must comply with the bank’s code of ethics.
+Added: However, employees of the Trustee must comply with the code of ethics of The Bank of New York Mellon Trust Company, N.A.
Executive Compensation.
3 unchanged sentences
Security Ownership of Certain Beneficial Owners and Management and Related Unitholder Matters.
−Removed: Security Ownership of Certain Beneficial Owners.
+Added: (a) Security Ownership of Certain Beneficial Owners.
The following table sets forth certain information regarding the beneficial ownership of the Trust Units as of March 20, 2024 by each person who, to the Trust’s knowledge, beneficially owns more than 5% of the outstanding Trust Units.
16 unchanged sentences
and RCH GP and RCH LP each has shared voting and dispositive power with respect to 958,555 Trust Units.
−Removed: According to the filing, each Reporting Person expressly disclaims (a) the existence of any group and (b) beneficial ownership with respect to any trust units other than the trust units owned of record by such Reporting Person.
+Added: According to the filing, each Reporting Person expressly
TABLE OF CONTENTS
−Removed: Security Ownership of Management.
+Added: disclaims (a) the existence of any group and (b) beneficial ownership with respect to any Trust Units other than the Trust Units owned of record by such Reporting Person.
+Added: (b) Security Ownership of Management.
Not applicable.
−Removed: Changes in Control.
+Added: (c) Changes in Control.
The registrant knows of no arrangement, including any pledge by any person of securities of the registrant or any of its parents, the operation of which may at a subsequent date result in a change of control of the registrant.
18 unchanged sentences
The holders will have the right to require the Trust to file up to three registration statements and will have piggyback registration rights in certain circumstances.
−Removed: In connection with the preparation and filing of any registration statement, MV Partners will bear all costs and expenses incidental to any registration statement, excluding certain internal expenses of the trust, which will be borne by the trustee, and any underwriting discounts and commissions, which will be borne by the seller of the trust units.
TABLE OF CONTENTS
+Added: In connection with the preparation and filing of any registration statement, MV Partners will bear all costs and expenses incidental to any registration statement, excluding certain internal expenses of the Trust, which will be borne by the Trustee, and any underwriting discounts and commissions, which will be borne by the seller of the Trust Units.
Principal Accountant Fees and Services.
6 unchanged sentences
Exhibit and Financial Statement Schedules
−Removed: Financial Statements
+Added: (a)(1) Financial Statements
The following financial statements are set forth under Part II, Item 8 of this Form 10-K on the pages indicated:
4 unchanged sentences
Notes to Financial Statements
+Added: (a)(2) Schedules
Schedules have been omitted because they are not required, not applicable or the information required has been included elsewhere herein.
+Added: (a)(3) Exhibits
Certificate of Trust of MV Oil Trust.
(Incorporated herein by reference to Exhibit 3.3 to the Registration Statement on Form S-1, filed on August 14, 2006 (Registration No.
−Removed: Amended and Restated Trust Agreement, dated January 24, 2007, among MV Partners, LLC, The Bank of New York Trust Company, N.A.
+Added: Amended and Restated Trust Agreement, dated as of January 24, 2007, among MV Partners, LLC, The Bank of New York Trust Company, N.A.
and Wilmington Trust Company.
−Removed: (Incorporated herein by reference to Exhibit 3.1 to MV Oil Trust’s Current Report on Form 8-K filed on January 25, 2007 (File No.
−Removed: Description of Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 (Incorporated herein by reference to Exhibit 4.1 to MV Oil Trust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (File No.
−Removed: Conveyance of Net Profits Interest, dated January 24, 2007, from MV Partners, LLC to The Bank of New York Trust Company, N.A.
+Added: (Incorporated herein by reference to Exhibit 3.1 to the Trust’s Current Report on Form 8-K filed on January 25, 2007 (File No.
+Added: Description of Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934.
+Added: (Incorporated herein by reference to Exhibit 4.1 to the Trust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (File No.
+Added: Conveyance of Net Profits Interest, dated as of January 24, 2007, from MV Partners, LLC to The Bank of New York Trust Company, N.A.
as Trustee of MV Oil Trust.
−Removed: (Incorporated herein by reference to Exhibit 10.1 to MV Oil Trust’s Current Report on Form 8-K filed on January 25, 2007 (File No.
+Added: (Incorporated herein by reference to Exhibit 10.1 to the Trust’s Current Report on Form 8-K filed on January 25, 2007 (File No.
Administrative Services Agreement, dated January 24, 2007, by and between MV Partners, LLC and The Bank of New York Trust Company, N.A.
as Trustee of MV Oil Trust.
−Removed: (Incorporated herein by reference to Exhibit 10.2 to MV Oil Trust’s Current Report on Form 8-K filed on January 25, 2007 (File No.
+Added: (Incorporated herein by reference to Exhibit 10.2 to the Trust’s Current Report on Form 8-K filed on January 25, 2007 (File No.
Registration Rights Agreement, dated January 24, 2007, by and between MV Partners, LLC and The Bank of New York Trust Company, N.A.
as Trustee of MV Oil Trust.
−Removed: (Incorporated herein by reference to Exhibit 4.1 to MV Oil Trust’s Current Report on Form 8-K filed on January 25, 2007 (File No.
+Added: (Incorporated herein by reference to Exhibit 4.1 to the Trust’s Current Report on Form 8-K filed on January 25, 2007 (File No.
Certification filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
Certification furnished pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
+Added: MV Oil Trust Clawback Policy
Report of Cawley, Gillespie & Associates, Inc., Petroleum Consultants
Filed or furnished herewith.
+Added: TABLE OF CONTENTS
Form 10-K Summary
9 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.