Permian Basin Stock Price, News & Analysis

On April 18, 2023, Argent Trust Company, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT), announced a cash distribution of $0.026846 per unit, payable on May 12, 2023, to unitholders of record on April 28, 2023. This distribution reflects a slight increase due to higher oil and gas production in February. Notably, oil production was 206,970 bbl priced at $73.13 per bbl, and gas production was 685,484 Mcf at $1.81 per Mcf. The Waddell Ranch reported a negative net profit interest of $(2,159,705) for February, with ongoing capital expenditures affecting future contributions to the distribution. The Trust's estimated proved reserves totaled 11.6 million barrels of oil and 25.7 billion cubic feet of gas, valued at approximately $1,205,228,000, projecting a 15-year lifespan.

On March 21, 2023, Argent Trust Company announced a cash distribution of $0.023556 per unit for the Permian Basin Royalty Trust (NYSE: PBT), payable on April 14, 2023, to unit holders of record by March 31, 2023. This marks a decrease from the previous month, influenced by decreased gas prices, despite increased oil production and prices. For January, Waddell Ranch reported gross oil production of 219,010 barrels at $74.94 per barrel, while gas production was 792,625 Mcf priced at $2.12 per Mcf. The Trust anticipates ongoing CAPEX challenges, affecting future distributions.

On February 17, 2023, Permian Basin Royalty Trust (NYSE: PBT) declared a cash distribution of $0.041356 per unit, payable on March 14, 2023, to unit holders of record on February 28, 2023. This distribution marks an increase due to higher production at the Waddell Ranch, despite falling oil prices and rising gas prices. For December 2022, oil production was 204,289 bbl priced at $74.58, while gas production reached 788,523 Mcf priced at $3.67. The total gross revenue from Waddell Ranch for December was $17,412,861, contributing significantly to the distribution. The revised 2023 CAPEX budget is estimated at $122 million.

On January 20, 2023, Argent Trust Company, trustee of the Permian Basin Royalty Trust (NYSE: PBT), announced a cash distribution of $0.036797 per unit, payable on February 14, 2023, for unit holders of record as of January 31, 2023. This distribution represents a decrease from the previous month, primarily due to lower oil and gas prices at Waddell Ranch and reduced capital expenditures (CAPEX). November oil production was 198,021 barrels at an average price of $83.04 per barrel, while gas production was 729,987 Mcf priced at $2.83 per Mcf. The net revenue for November was $17,558,006. Future distributions may be affected by ongoing market conditions.

Simmons Bank, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT), announced a cash distribution of $0.037639 per unit, payable on January 17, 2023. This reflects a decrease due to lower gas prices and increased CAPEX at Waddell Ranch in October. Production data reveals oil volumes at 213,936 bbl with an average price of $85.44 per bbl, while gas volumes were 728,401 Mcf at $3.90 per Mcf. The total net revenue for Waddell Ranch was $19,994,621.

Simmons Bank, Trustee of Permian Basin Royalty Trust (PBT), announced a cash distribution of $0.080997 per unit, payable on December 14, 2022. This reflects a decrease from the previous month, attributed to reduced oil and gas production and prices at the Waddell Ranch and Texas Royalty Properties for September. Gross revenues for the Waddell Ranch were $20,428,441, with net profits contributing $2,384,301 to the distribution. The Texas Royalties reported net profits of $1,415,087. Increased CAPEX and global market conditions pose uncertainties for future distributions.

Simmons Bank, as Trustee of Permian Basin Royalty Trust (PBT), declared a cash distribution of $0.208587 per unit, payable on November 15, 2022. This marks a decrease due to rising production costs and lower oil prices in August. The Waddell Ranch reported oil production of 196,937 bbl at an average price of $95.03, contributing $7,876,671 to the distribution. Texas Royalty Properties had revenues of $2,203,896, contributing $1,929,463. The uncertain global market conditions continue to affect pricing and future distributions.