MV Oil Trust 2024年度报告

Washington, D.C. 20549 FORM 10-K MV OIL TRUST Name of each exchange on which registered New York Stock Exchange Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.Yes☐No☒. Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has beensubject to such filing requirements for the past 90days.Yes☒No☐ Indicate by checkmark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant wasrequired to submit such files).Yes☐No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☐Non-accelerated filer☒Smaller reporting company☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness ofits internal control over financial reporting under Section404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).Yes☐No☒The aggregate market value of the 8,625,000Units of Beneficial Interest in MV Oil Trust held by non-affiliates of the registrant, computed using the closing sales price of $9.42 on June28, 2024, was approximately $81,247,500. As of March20, 2025, 11,500,000Units of Beneficial Interest in MV Oil Trust were outstanding. Documents Incorporated By Reference: None TABLE OF CONTENTS Item1.Item1A.Item1B.Item1C.Item2.Item3.Item4.Item5.Item6.Item7.Item7A.Item8.Item9.Item9A.Item9B.Item9C.Item10.Item11.Item12.Item13.Item14.Item15.Item16.PageForward-Looking Statements1Glossary of Certain Oil and Natural Gas Terms2PART IBusiness6Risk Factors28Unresolved Staff Comments41Cybersecurity41Properties43Legal Proceedings43Mine Safety Disclosures43PART IIMarket for Registrant’s Common Equity, Related Unitholder Matters and IssuerPurchases of Equity Securities44[Reserved]44Trustee’s Discussion and Analysis of Financial Condition and Results ofOperations44Quantitative and Qualitative Disclosures About Market Risk48Financial Statements and Supplementary Data49Changes in and Disagreements with Accountants on Accounting and Financial Disclosure59Controls and Procedures59Other Information60Disclosure Regarding Foreign Jurisdictions that Prevent Inspections60PART IIIDirectors, Executive Officers and Corporate Governance61Executive Compensation61Security Ownership of Certain Beneficial Owners and Management and RelatedUnitholder Matters61Certain Relationships and Related Transactions, and Director Independence62Principal Accountant Fees and Services63PART IVExhibit and Financial Statement Schedules64Form 10-K Summary65SIGNATURES66 FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this “Form 10-K”) contains forward-looking statements about MVPartners, LLC (“MV Partners”) and MV Oil Trust (the “Trust”) that are subject to risks and uncertaintiesand that are intended to qualify for the safe harbors from liability established by the Private SecuritiesLitigation Reform Act of 1995 and Section21E of the Securities Exchange Act of 1934, as amended (the“Exchange Act”). All statements other than statements of historical fact included in this document,including, without limitation, statements under “Business” and “Risk Factors” regarding the financialposition, business strategy, production and reserve growth, and other plans and objectives for the futureoperations of MV Partners and the Trust, are forward-looking st