Welcome to our dedicated page for Permrock Royalty Trust news (Ticker: PRT), a resource for investors and traders seeking the latest updates and insights on Permrock Royalty Trust stock.
PermRock Royalty Trust (PRT) is a Delaware statutory trust whose public disclosures focus heavily on monthly cash distributions derived from its net profits interest in oil and natural gas production. The trust’s news flow is centered on detailed press releases that describe each distribution, the underlying production month, and the financial and operational factors that influenced the results.
Each distribution announcement typically includes tables of underlying oil and natural gas sales volumes and average received wellhead prices for the current and prior month. The trust reports oil and natural gas cash receipts from the properties underlying the trust, which are located in the Permian Basin of West Texas and owned and operated by T2S Permian Acquisition II LLC. These releases also summarize total direct operating expenses, including marketing, lease operating expenses, and workover expenses, as well as severance and ad valorem taxes and capital expenditures.
PermRock Royalty Trust’s news often explains changes in distribution amounts by referencing information provided by T2S. Examples include the impact of changes in oil and natural gas prices, shifts in sales volumes, adjustments in workover activity, and capital spending on wells operated by third parties. The trust has also issued news regarding the completion of a purchase and sale transaction in which Boaz Energy II, LLC and its affiliate sold their interests in the underlying properties to T2S, while the properties remained burdened by the trust’s net profits interest.
Investors and followers of PRT can use this news page to review a chronological record of distribution announcements, production metrics, and operator-reported expense and capital trends that affect the trust’s net profits interest and cash distributions.
PermRock Royalty Trust (NYSE:PRT) announced a monthly cash distribution of $1,100,008.01 ($0.090418 per Trust Unit) for record holders as of November 30, 2022, payable on December 14, 2022. This amount is based on September 2022's production. Oil cash receipts totaled $2.36 million, down $0.37 million from the previous month, attributed to lower oil prices and sales volumes. Natural gas receipts were $0.30 million, down $0.01 million. Total operating expenses were $0.74 million, and capital expenses rose to $0.61 million due to a re-entry project.
PermRock Royalty Trust (NYSE: PRT) declared a monthly cash distribution of $1,135,816.79 or $0.093361 per Trust Unit to holders as of October 31, 2022, payable on November 15, 2022. This distribution is primarily based on production from August 2022. Oil cash receipts decreased to $2.73 million due to falling prices, while natural gas receipts rose to $0.31 million due to higher sales volumes. Total direct operating expenses were $0.75 million, down $0.06 million, while capital expenses increased to $0.53 million.
PermRock Royalty Trust (NYSE:PRT) declared a monthly cash distribution of $1,132,255.37 or $0.093069 per Trust Unit for record holders as of September 30, 2022, payable on October 17, 2022. This distribution is based on production during July 2022. Oil cash receipts decreased to $2.89 million, a drop of $0.32 million from the previous month, attributed to lower oil prices. Natural gas receipts also fell to $0.30 million, down $0.03 million, due to decreased sales volumes and prices. Total direct operating expenses increased by $0.11 million to $0.81 million.
PermRock Royalty Trust (NYSE:PRT) announced a monthly cash distribution of $1,119,292.92 ($0.092003 per Trust Unit) for August 2022, payable on September 15, 2022. The distribution is primarily based on June 2022 production. Current month oil sales volumes decreased to 28,114 Bbls, while natural gas increased to 34,980 Mcf. Oil cash receipts were $3.21 million, down $0.11 million from the prior month, whereas natural gas cash receipts rose to $0.33 million. Total operating expenses were $0.70 million, reflecting a $0.09 million decrease.
PermRock Royalty Trust (NYSE:PRT) announced a monthly cash distribution of $1,103,463.10, equating to $0.090702 per Trust Unit, payable on August 12, 2022, to record holders as of July 29, 2022. This distribution is based on oil and natural gas production from May 2022. Current month oil sales totaled $3.32 million, a $0.27 million increase from the prior month, while natural gas receipts remained steady at $0.28 million. Direct operating expenses decreased to $0.79 million, and capital expenditures were $0.51 million, reflecting ongoing development activities in the Permian Basin.
PermRock Royalty Trust (NYSE: PRT) announced a monthly cash distribution of $1,217,916.85 (or $0.100110 per Trust Unit) to be paid on July 15, 2022, based on April 2022 production. Oil sales decreased to $3.05 million due to lower prices and sales volumes, while natural gas receipts grew to $0.28 million from increased volumes. Total operating expenses rose to $0.95 million, alongside capital expenditures of $0.89 million, attributed to well recompletion in Crane County, Texas.
PermRock Royalty Trust (NYSE:PRT) announced a monthly cash distribution of $1,229,733.76 (or $0.101081 per Trust Unit) to record holders as of May 31, 2022, payable on June 14, 2022. This distribution is based on production data from March 2022.
Notable increases in cash receipts were reported: $3.36 million for oil and $0.26 million for natural gas, driven by improved sales volumes and prices. Operating expenses fell to $0.74 million.
PermRock Royalty Trust (NYSE: PRT) announced that at a special meeting on May 4, 2022, unitholders voted to approve key proposals. These included the appointment of Argent Trust Company as successor trustee, to take over once Simmons Bank resigns. The resignation's effective date hinges on fulfilling certain conditions, including necessary approvals from other trusts and potential court validation. The Trust emphasized that forward-looking statements in the release may differ materially due to unanticipated events or conditions.
PermRock Royalty Trust (NYSE:PRT) has declared a monthly cash distribution of $756,626.31 (or $0.062193 per Trust Unit) for record holders as of April 29, 2022, payable on May 13, 2022. This distribution is based on production from February 2022. Oil cash receipts increased to $2.52 million, while natural gas cash receipts rose to $0.24 million. Total direct operating expenses totaled $0.89 million, with capital expenditures at $0.94 million. The Trust maintains a 80% net profits interest from oil and gas production properties in Texas.
PermRock Royalty Trust (NYSE: PRT) announced the adjournment of its Special Meeting, originally scheduled for April 5, 2022, to May 4, 2022, to gather more proxy votes for the appointment of Argent Trust Company as the successor trustee. The meeting will take place at 1:00 p.m. Central Time in Fort Worth, Texas. The proxy materials sent to unitholders on February 11, 2022, remain unchanged, and the record date for voting is February 4, 2022. Unitholders who have not yet voted are encouraged to do so.
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