Marine Petroleum Trust · Dallas, TX United States ·(NASDAQ (CM): MARPS)

Marine Petroleum Trust is a royalty trust that collects and distributes payments from oil and natural gas leases in the Gulf of Mexico. The trust's subsidiary, Marine Petroleum Corporation, holds title to interests in properties (about 238,100 gross acres) off the coast of Louisiana. About 140 producing gas wells and some 100 oil wells are subject to Marine's interests. Chevron accounts for more than three-quarters of the royalties the company receives. Marine Petroleum Trust also owns about a third of another royalty trust with interests in the Gulf of Mexico, Tidelands Royalty Trust "B." To read the full description, subscribe now.