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.
Simmons Bank, as Trustee of Permian Basin Royalty Trust (PBT), announced a cash distribution of $0.001819 per unit, payable on July 14, 2020. The distribution reflects a decrease from the previous month due to significant declines in oil and gas prices. New operator Blackbeard Operating will report quarterly for Waddell Ranch properties, impacting monthly reporting. Texas Royalties reported 21,229 barrels of oil and 17,337 Mcf of gas for April, generating net profits of $344,523 after taxes. General and administrative expenses were $242,961.