---
schema_version: "secwatch.filing_event.v1"
accession: "0001171200-24-000078"
form_type: "8-K"
ticker: "USL"
cik: "0001405528"
company_name: "United States 12 Month Oil Fund, LP"
filed_at: "2024-03-21T23:59:59+00:00"
generated_at: "2026-06-04T09:45:21.467371+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "medium"
source: SEC EDGAR
---

# USCF (GP of USL) audited FY2023 balance sheet: assets drop 34%, equity down 40%

## Summary
- Total assets $8.7M at Dec 31, 2023, down from $13.3M in 2022 (34% decrease).
- Cash declined to $2.6M from $8.2M; investments increased to $3.8M from $2.5M.
- Member's equity fell to $6.2M from $10.4M (40% decrease).
- Optimum Strategies lawsuit dismissed with prejudice on federal claims; state claim dismissed without prejudice.
- Auditor identifies loss contingencies as critical audit matter; note mentions SEC/CFTC investigations (details truncated).

## SEC filing metadata
- accession: 0001171200-24-000078
- form_type: 8-K
- ticker: USL
- cik: 0001405528
- company_name: United States 12 Month Oil Fund, LP
- filed_at: 2024-03-21T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: medium
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1405528/000117120024000078/0001171200-24-000078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1405528/000117120024000078/i24088_usl-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171200-24-000078
- JSON: https://secwatch.observer/filing/0001171200-24-000078.json
- Plain text: https://secwatch.observer/filing/0001171200-24-000078.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.