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 (NYSE: PBT) issues frequent updates through press releases and SEC filings that focus on its monthly cash distributions and the performance of its underlying oil and gas properties. News coverage for the Trust highlights how net proceeds from the Texas Royalty Properties and the Waddell Ranch properties translate into per-unit distributions for holders of its units of beneficial interest.
Recent press releases describe monthly cash distribution declarations by Argent Trust Company, as Trustee, along with details on production volumes, allocated volumes net to the Trust, and average realized prices for oil and gas on the Texas Royalty Properties. These updates explain how revenues, taxes, and expenses result in net profit figures, how the Trust’s 95% net profits interest in the Texas Royalty Properties is applied, and how general and administrative expenses affect the final distribution amount.
News about the Waddell Ranch properties often discusses excess cost positions, where total production costs exceed gross proceeds and must be recovered by future proceeds before any distributions from those properties can be made to the Trust. Coverage also includes information on the timing and frequency of production, pricing, and cost data provided by Blackbeard Operating, LLC, the operator of the Waddell Ranch properties, and how that information is incorporated into the Trust’s periodic reports.
Another key theme in PBT news is governance and legal developments. Press releases and 8-K filings report on litigation and settlement activity between the Trust and Blackbeard, including a settlement agreement for $9,000,000 and agreed rules for overhead charges and reporting. They also cover unitholder actions led by SoftVest Advisors, LLC, such as requests for a special meeting, voting results on a non-binding proposal to support judicial reformation of the Trust Indenture, and a petition seeking modification of the Indenture’s amendment thresholds.
Investors following PBT news can use this page to review distribution announcements, property performance updates, litigation and settlement milestones, and unitholder governance initiatives, all of which are drawn from the Trust’s own press releases and related SEC disclosures.
Permian Basin Royalty Trust (NYSE: PBT) has filed a Second Amended Petition against Blackbeard Operating in the District Court of Tarrant County, Texas. The Trust is seeking to recover over $9 million in damages due to alleged improper calculation and payment of royalties from April 2020 through December 2023. The Trust claims Blackbeard incorrectly calculated overhead costs, labor expenses, and saltwater disposal fees, failed to pay on all production volumes, and didn't provide required annual reports. The Trust holds a 75% net overriding royalty in the Waddell Ranch properties.
The trial is scheduled for November 17, 2025. Discovery is ongoing, including on-site audits, expert witness analyses, and document review. A joint venture audit of 2024 production months is in progress, with the Trust reserving rights to bring additional claims based on audit findings.
Permian Basin Royalty Trust (NYSE: PBT) has announced an April cash distribution of $0.019615 per unit, payable on May 14, 2025. The distribution reflects only proceeds from Texas Royalty Properties, as Waddell Ranch properties continue to show an excess cost position. Texas Royalty Properties reported production of 15,292 barrels of oil at $71.97/bbl and 8,991 Mcf of gas at $11.54/Mcf, resulting in a net contribution of $1,143,639.
Notably, Blackbeard Operating has refused to provide monthly NPI proceeds information for Waddell Ranch properties. The Trust is currently engaged in litigation against Blackbeard, seeking over $25 million in damages related to disputed overhead charges and other expenses. The trial is scheduled for November 17, 2025.
Permian Basin Royalty Trust (NYSE: PBT) has announced a cash distribution of $0.018047 per unit, payable on April 14, 2025, to unitholders of record on March 31, 2025. The distribution shows a slight increase from the previous month due to higher oil and natural gas volumes from Texas Royalty Properties, along with improved oil pricing.
The Trust reported that the Waddell Ranch properties continue to be in an excess cost position, with no proceeds included in the March distribution. Notably, Blackbeard, the operator, has refused to provide monthly NPI proceeds information, leading to ongoing litigation where the Trust seeks over $25 million in damages related to disputed overhead charges and other expenses.
For Texas Royalty Properties, production reached 14,957 barrels of oil and 9,462 Mcf of gas, with average prices of $70.81 per bbl for oil and $7.88 per Mcf for gas. After deductions, the net contribution from Texas Royalty Properties was $1,081,481 to this month's distribution.
Permian Basin Royalty Trust (NYSE: PBT) has announced a cash distribution of $0.017144 per unit, payable March 14, 2025, to unitholders of record on February 28, 2025. The distribution decreased from the previous month due to lower oil volumes and natural gas pricing in Texas Royalty Properties.
The distribution excludes proceeds from Waddell Ranch properties due to production costs exceeding gross proceeds. Notably, Blackbeard, the Waddell Ranch operator, has refused to provide monthly NPI proceeds information. The Texas Royalty Properties produced 15,307 barrels of oil at $68.37/bbl and 9,971 Mcf of gas at $8.38/Mcf.
The Trust is currently engaged in litigation against Blackbeard, seeking over $25 million in damages related to disputed overhead charges and expenses. The trial is scheduled for November 17, 2025.
Permian Basin Royalty Trust (NYSE: PBT) has announced a cash distribution of $0.020510 per unit, payable on February 14, 2025. The distribution shows a slight decrease from the previous month due to lower oil volumes and pricing in Texas Royalty Properties, partially offset by higher gas volumes.
The Waddell Ranch properties continue to be in an excess cost position, with total costs exceeding gross proceeds by $4,987,682 ($3,740,762 net to Trust) for October. The Texas Royalty Properties produced 16,839 barrels of oil and 9,283 Mcf of gas, with average prices of $67.69 per bbl and $9.56 per Mcf.
The Trust is currently engaged in litigation against Blackbeard Operating, seeking over $25 million in damages related to disputed overhead charges and expenses. The trial is scheduled for November 17, 2025.
Permian Basin Royalty Trust (NYSE: PBT) has announced a cash distribution of $0.021939 per unit, payable on January 15, 2025. The distribution shows a slight increase from the previous month due to higher oil and gas volumes from Texas Royalty Properties, despite lower prices. No proceeds were included from the Waddell Ranch properties due to excess costs of $4,987,682.
The Texas Royalty Properties produced 18,407 barrels of oil at $70.83 per bbl and 7,073 Mcf of gas at $11.05 per Mcf, generating net profits of $1,237,019. The Trust is currently engaged in litigation against Blackbeard Operating, seeking over $25 million in damages related to disputed overhead charges and expenses.
Permian Basin Royalty Trust (NYSE: PBT) announced a cash distribution of $0.021733 per unit, payable on December 13, 2024. The distribution decreased from the previous month due to no proceeds from the Waddell Ranch properties and lower oil and gas volumes from Texas Royalty Properties. The Waddell Ranch properties reported excess costs of $4,987,682 ($3,740,762 net to Trust) for October. The Texas Royalty Properties produced 16,035 barrels of oil at $75.68/bbl and 6,521 Mcf of gas at $11.30/Mcf, resulting in a net contribution of $1,110,051 to this month's distribution.
Permian Basin Royalty Trust (NYSE: PBT) announced a cash distribution of $0.029986 per unit, payable on November 15, 2024, to unit holders of record on October 31, 2024. The distribution includes $267,781 from September proceeds but excludes current month proceeds from Waddell Ranch properties. The decrease from the previous month is due to lower September proceeds from Waddell Ranch and reduced oil volumes and prices for Texas Royalty Properties.
For Texas Royalty Properties, production was 16,103 barrels of oil and 7,106 Mcf of gas, with average prices of $77.19 per bbl for oil and $10.02 per Mcf for gas. This resulted in a net contribution of $1,234,959 to the distribution.
The Trust is currently engaged in litigation against Blackbeard Operating, , seeking over $25 million in damages related to disputed overhead charges and other expenses. A preliminary trial date is set for April 21, 2025.
Permian Basin Royalty Trust (NYSE: PBT) announced a cash distribution of $0.050711 per unit, payable on October 15, 2024, to unit holders of record on September 30, 2024. The distribution includes $934,450 from August proceeds but excludes current month proceeds from Waddell Ranch properties. The decrease from the previous month is due to lower August proceeds and changes in Texas Royalty Properties' production and pricing.
For Texas Royalty Properties, production was 20,846 barrels of oil and 7,012 Mcf of gas, with average prices of $79.03 per bbl for oil and $10.00 per Mcf for gas. This resulted in a net contribution of $1,483,671 to the distribution.
The Trust is currently engaged in litigation against Blackbeard Operating, , seeking over $25 million in damages related to disputed overhead charges and other expenses. A preliminary trial date is set for April 21, 2025.