Welcome to our dedicated page for Permian Basin news (Ticker: PBT), a resource for investors and traders seeking the latest updates and insights on Permian Basin stock.
Permian Basin Royalty Trust reports royalty-trust developments tied to oil and natural gas interests in Texas. News about PBT centers on monthly cash distributions to holders of units of beneficial interest, the production volumes and commodity prices that affect those distributions, and expense deductions at the trust level.
Recurring updates also cover the Waddell Ranch properties, including net profits interest calculations, excess cost positions, and information supplied by the property operator. Governance-related announcements include unitholder communications and completed modifications to the trust indenture that affect amendment voting provisions and security-holder rights.
Permian Basin Royalty Trust (NYSE: PBT), with Argent Trust Company as Trustee, declared an August 2026 cash distribution of $0.018701 per unit, or $871,663.17 in total, payable on September 15, 2026 to unitholders of record on August 31, 2026.
The distribution excludes proceeds from the Waddell Ranch properties because July production costs exceeded gross proceeds, creating a continuing excess cost position that must be recovered before future Waddell Ranch distributions. Current cash flow is therefore entirely from the Texas Royalty Properties, which generated July revenues of $1,544,865 and net profit of $1,395,216, contributing $1,325,455 to this month’s distribution.
General and administrative expenses net of interest were $453,792, including a $250,000 increase to the expense reserve. The distribution decreased versus July, primarily due to the prior month’s one-time $1,125,000 settlement payment from Blackbeard Operating and lower Texas Royalty natural gas volumes and oil pricing.
Permian Basin Royalty Trust (NYSE: PBT), through its trustee Argent Trust Company, reported that unitholder SoftVest and its affiliates have signed a definitive Combination Agreement with Blackbeard Holdings and affiliates. They propose to combine the Trust’s assets with Blackbeard’s oil and gas mineral interests and land operations to form a new publicly traded corporation, PBT Land and Minerals, Inc. (New PBT).
Completion of the proposed transaction would require approval by Trust unitholders at a special meeting requested by SoftVest and other holders representing over 15% of Trust units. According to Permian Basin Royalty Trust, New PBT intends to file a Form S-4 registration statement with proxy statement/prospectus for the meeting and a Form S-1 for a rights offering of New PBT shares to Trust unitholders. The Trust and Trustee are not parties to the Combination Agreement, are not soliciting proxies or offering securities, and make no voting recommendation.
SoftVest and Blackbeard agreed to combine Permian Basin Royalty Trust (NYSE: PBT) with Blackbeard’s US Land Guild assets to form PBT Land and Minerals (“New PBT”), valued at approximately $2.24 billion. Blackbeard will contribute 80,000 net royalty acres and 68,000 surface acres, while PBT’s existing Waddell Ranch Net Profits Interest converts into a cost-free ~15% effective royalty interest representing 31,000 net royalty acres.
Pro forma ownership is expected to be ~59% for current PBT unitholders and ~41% for Blackbeard and affiliates. New PBT expects a JPMorgan-led $500 million revolving credit facility (with $100 million accordion) and leverage below 0.4x pro forma first-quarter 2026 annualized Adjusted EBITDA. Pro forma Adjusted EBITDA is $38.6 million for the three months ended March 31, 2026 and $127.2 million for 2025, both with 90% margins. The deal is subject to PBT unitholder and regulatory approvals and is targeted to close in the second half of 2026.
Permian Basin Royalty Trust (NYSE: PBT), through Argent Trust Company as Trustee, declared a July 2026 cash distribution of $0.043566 per unit, totaling $2,030,599.85, payable on August 14, 2026 to unitholders of record on July 31, 2026. The distribution excludes Waddell Ranch properties because June Production Costs exceeded Gross Proceeds, creating a continuing excess cost position; future Waddell proceeds must first recover these excess costs and accrued interest.
The distribution increased from the prior month primarily due to a $1,125,000 settlement payment from Blackbeard Operating and higher oil prices from Texas Royalty Properties. For Texas Royalties underlying properties, oil production was 15,307 bbl and gas 6,545 Mcf (13,842 bbl and 5,923 Mcf net to the Trust) at average prices of $99.90/bbl for oil and $8.61/Mcf for gas, generating Net Profit of $1,448,285 and a net contribution of $1,375,871 to this month's distribution.
General and administrative expenses, net of interest, were $470,271, including a $400,000 addition to the expense reserve. The Trustee also highlighted a non-binding SoftVest/Blackbeard Holdings term sheet for a potential business combination involving a new corporation (New PubCo), which would likely require approval by a majority in interest of unitholders under the recently modified Trust Indenture.
Permian Basin Royalty Trust (NYSE:PBT) declared a June 2026 cash distribution of $0.024673 per unit, or $1,149,997, payable July 15, 2026 to holders of record on June 30, 2026.
The payout is driven solely by Texas Royalty Properties, as Waddell Ranch remains in an excess cost position, contributing no proceeds. Texas Royalties generated $1.50 million revenue and $1.35 million net profit, supported by oil at $88.42/bbl and gas at $9.50/Mcf. The Trustee also highlighted a non-binding SoftVest/Blackbeard term sheet for a potential business combination involving a new public company, which would likely require unitholder approval if pursued.
Permian Basin Royalty Trust (NYSE:PBT) reported that trustee Argent Trust received a Schedule 13D from SoftVest describing a preliminary, non-binding term sheet for a potential business combination involving the Trust and certain Blackbeard assets.
The structure contemplates a new corporation, New PubCo, owning all Trust assets and US Land Guild, which will hold about 66,500 acres of surface estate and a 15% royalty interest. Blackbeard or affiliates would receive certain Trust working interests after conversion of net profits interests into a cost-free 15% royalty interest, including interests in the “West Ranch” and “East Ranch” properties. The Trustee states it has not participated in negotiations, expects any transaction would need approval by a majority in interest of unitholders at a meeting with a quorum, and emphasizes this is not a proxy solicitation. Investors are advised to review current and future SEC filings, including any potential Form S-4 with proxy statement/prospectus.
Permian Basin Royalty Trust (NYSE:PBT) declared a May 2026 cash distribution of $0.020355 per unit, payable June 12, 2026, to holders of record on May 29, 2026.
No proceeds were received from the Waddell Ranch properties due to excess costs, while Texas Royalty Properties generated net profits of $1,050,825. After $49,516 of general and administrative expenses, total distributed cash was $948,767 across 46,608,796 units. A May 8, 2026 court ruling approved SoftVest’s requested amendments, lowering unitholder voting thresholds for Indenture changes.
Permian Basin Royalty Trust (NYSE: PBT) announced a May 8, 2026 court ruling approving SoftVest's petition to modify the Trust indenture.
The 96th District Court of Tarrant County approved amendments that remove the 75% approval requirement in Section 8.03 and delete Section 10.01, replacing Article X with a provision permitting amendments by a majority-in-interest vote at a properly constituted unitholder meeting.
Permian Basin Royalty Trust (NYSE: PBT) announced a change in the hearing time for a court matter: the May 8, 2026 bench hearing has been rescheduled from 10:30 a.m. CT to 9:30 a.m. CT before the 96th District Court of Tarrant County in Fort Worth, Texas.
SoftVest, a unitholder, mailed a Petition and related documents on or about February 10, 2026, seeking judicial modification of the Trust indenture to remove a 75% amendment approval threshold and to replace Article X to permit amendments by a majority in interest of unitholders at a quorum meeting.
Permian Basin Royalty Trust (NYSE: PBT) declared a cash distribution of $0.038014 per unit, payable May 14, 2026, to holders of record April 30, 2026.
The April distribution totaled $1,771,797 funded in part by a $1,125,000 settlement payment from Blackbeard and a $749,597 contribution from Texas royalty net profits; Waddell Ranch remains in an excess cost position.