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 declared a cash distribution of $0.013566 per unit for November 2020, payable on December 14, 2020. This represents a slight increase from the previous month due to higher gas prices, despite lower oil prices. The Trust reported a net revenue of $2,228,348 from Waddell Ranch, while Texas Royalty properties contributed $666,925. However, a cumulative deficit of around $4.3 million remains to be recovered. General and administrative expenses were lower, totaling $35,044.
Simmons Bank, Trustee of the Permian Basin Royalty Trust (PBT), declared a cash distribution of $0.012620 per unit, payable on November 16, 2020, to unit holders of record on October 30, 2020. This month's distribution reflects an increase due to higher oil prices, despite lower gas prices and increased general expenses. In August, Waddell Ranch reported oil production of 51,002 bbls at $39.48 per bbl. The Texas Royalties produced 18,786 bbls of oil at $40.13 per bbl, yielding a net profit of $686,963.
Permian Basin Royalty Trust (PBT) announced a cash distribution of $0.012354 per unit, payable on October 15, 2020, for unit holders on record by September 30, 2020. The increase from the previous month was attributed to rising oil prices, although gas prices remained low. For July, Waddell Ranch produced 49,622 bbls of oil at $37.38 per bbl, while gas production reached 131,393 mcf at $0.98 per mcf. Texas Royalties contributed $611,270 to the distribution, after tax deductions of $109,528. Market conditions pose uncertainties for future distributions.
Simmons Bank, Trustee of the Permian Basin Royalty Trust (NYSE: PBT), declared a cash distribution of $0.008863 per unit, payable on September 15, 2020. The distribution is an increase due to rising oil and gas prices and reduced administrative expenses. The Trust's operator, Blackbeard Operating, reported mixed production results for June, with Waddell Ranch showing a deficit. Overall, net revenues from the underlying properties amounted to $1,781,814, while capital expenditures were $554,771.
Simmons Bank, Trustee of the Permian Basin Royalty Trust (NYSE: PBT), declared a cash distribution of $0.005702 per unit, payable on August 14, 2020. The distribution reflects the production month of May and is an increase from the previous month. Blackbeard Operating took over reporting for Waddell Ranch properties, which are currently in deficit. Oil production for Waddell Ranch was 48,969 bbls with a price of $14.87 per bbl, and gas production was 119,813 mcf at $0.90 per mcf. General and administrative expenses were reduced to $33,579.
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.