Occidental Petroleum Corporation, 3624 Simpson Stuart Rd, Dallas, TX 75241, US

Marine Petroleum Trust, a royalty trust established in 1956 under Texas law, serves as a conduit for administering and liquidating rights to payments from oil and natural gas leases in the Gulf of Mexico. The trust's interests, originally held by Gulf Oil Corporation and now by Chevron Corporation and Elf Exploration, Inc., are managed by its wholly-owned subsidiary, Marine Petroleum Corporation. Ninety-eight percent of oil, natural gas, and mineral royalties collected by Marine Petroleum Corporation are distributed to the trust, with approximately 60% of revenues from oil and 40% from natural gas. The trust's term is set to expire on June 1, 2021, unless extended by majority unit holder vote, and its financial performance is influenced by factors such as well productivity, market demand fluctuations, and oil and gas price variations.Generated from the website

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